by Maggie Callahan Parents in the U.S. spend a staggering $500 billion annually on their adult children — twice the amount they put into retirement savings, a new Merrill Lynch study shows. Of all the stages of parenting, the empty-nest stage — when kids are over 18 — is the most expensive, according to The…

by Maggie Callahan As finances are uncertain for many approaching retirement, reverse mortgages are an ideal shock absorber for the many potential shocks once a senior stops working, financial experts conveyed to an audience of financial planners Wednesday. Hosted by the American College of Financial Services, “Utilizing Housing Wealth in Retirement” featured Shelley Giordano founder…

by Maggie Callahan Americans of all ages are more worried about future health care costs and their finances than they are about death, according to a recent online survey by TD Ameritrade. Completed by Harris Poll on behalf of TD Ameritrade, the survey “Redefining Aging” asked about 2,000 Americans over the age of 18 for…

by Alex Spanko Forbes over the holiday weekend published a point-by-point rebuttal of a recent Philadelphia Inquirer article that questioned whether reverse mortgages were too risky for older homeowners. Jack Guttentag offered his more upbeat assessment of Home Equity Conversion Mortgages, eventually concluding that all of the potential downsides involved are plainly explained to the…

by Maggie Callahan As recent home value appreciation reports have pointed out, homeowners in America are not selling, and a recent analysis from Zillow said that many — 63% — are not looking to move at all. The Zillow Group’s Consumer Housing Trends Report 2018 surveyed 13,439 current renters, buyers, sellers, and homeowners about their housing attitudes during…

by Maggie Callahan Seniors have made it known through numerous surveys that they desire to age in place, but keeping the home safe and accessible can require expensive upgrades and improvements. MoneyWise editor-in-chief Doug Whiteman wrote in a recent article ‘How to Find Financial Assistance for Aging in Place’ about the many options out there to help…

by Alex Spanko  USA Today listed reverse mortgages among multiple potential options for retirees to build their nest eggs, specifically pointing to the Home Equity Conversion Mortgage’s line-of-credit feature. Citing Kerry Uffman, founder of TWRU Private Wealth Management in Baton Rouge, La., writer Robert Powell positioned the product as a potential solution for long-term savings shortfalls. “Having…