Qualified Charitable Distributions

If you want to help others and would like to get a tax break along with it, a Qualified Charitable Distribution (QCD) may be exactly what you are looking for. Ordinarily, all deductible contributions to a traditional IRA, plus earnings, are subject to federal income tax when they are later distributed. However, if the IRA owner meets certain requirements (see below), he or she may be able to transfer funds directly from the IRA to a

What is a Reverse Mortgage Loan?

A reverse mortgage can be used to turn a portion of the equity in your home into cash that can be used for many different purposes that may enhance and extend your retirement. If you currently have a mortgage, a reverse mortgage could eliminate your mortgage payment (taxes and insurance must still be paid, and the home maintained), and also allow you to access any additional equity (over and above your mortgage balance), to create

How to Preserve Assets When Faced With Long Term Care Costs

It is estimated that over 70% of people over 65 will need some type of Long Term Care(LTC) according to the US Department of Health & Human Services. Meet Charlie and Fran.  They have three children, 9 grandchildren and 5 great grandchildren…so far!  They have hopes and dreams for their future generations and have worked hard to ensure their legacy is passed on.  As they age, they realize that if either one of them needs

Home Equity and the Retirement Crisis

The constant consternation played out by retirees over the Home Equity Conversion Mortgage (HECM) is bewildering. People choose to struggle in retirement by completely ignoring the fact that they have equity in their home. Unlocking the equity in the home can greatly benefit the homeowner and make it possible to “age in place” more comfortably. A recent AARP Survey concluded that 76% of older adults prefer to age in place. Ultimately there is an impending

Considering the Rising Cost of College, Is It Worth Going Back to School?

For some seniors, college was a long time ago, and the last thing they’re thinking about is going back. The idea of continuing to learn is attractive; constantly changing industries can make going back to college a necessary move. Regardless of age, college can improve your career options. It can also give you the opportunity to completely switch gears and go after a totally new career. Many graduates consider an advanced degree program, but there’s