Retirement News with Professor Craig

Retirement News with Professor Craig

The Retirement News blog is dedicated to the financial and physical health and well-being of older Americans. 
Whether you're already in or nearing retirement, you will find important, topical information in the blog to help you make informed decisions on your road to retiring more freely.
As a 25-year veteran in the financial services industry and a certified trainer and teacher, Professor Craig's #1 goal is to help you thrive in retirement with financial peace of mind. 

Subscribe Now



All Roads Lead Home: Evaluating Your Retirement Living Options
Retirement News, Financing Retirement, Retirement Planning, Retirement Tips

All Roads Lead Home: Evaluating Your Retirement Living Options

Where do you picture yourself living in retirement? Is staying in a familiar setting a priority? Entering the next phase could mean remaining in your home, moving to a condo or retirement community, or relocating to a new area entirely.

If you’re pondering the age-old question — Should I stay or should I go? — use the following guide as you consider your options:

Venturing to a new place

Many states actively recruit retirees, touting more temperate climates and a lower cost of living. That may be true compared to a major metropolitan area in the northeast, for example. But be sure to do your homework. You may be trading lower property taxes for higher sales, estate and motor vehicle taxes, among other unplanned expenses.

And cost isn’t the only concern if you’re considering relocation. You’ll also be leaving behind a familiar support framework, including family, friends and healthcare providers, and insider knowledge of your area and its resources and activities. Isolation can have serious physical and mental health side effects, so be sure to include emotional factors in your decision-making process.

Family ties and social activities

Aging in place can be a solitary experience if you’re single or have no family and friends nearby. Moving to an over-55 community can minimize solitude with planned entertainment and activities, communal gathering spaces, and residents close in age and with similar interests.

If you remain in your current home, you may have the luxury of space for overnight visitors, as well as a yard or outdoor recreation area to enjoy. Consider if you’ll still have easy access to social activities outside your home, volunteering and community events, as well as transportation when you no longer feel comfortable driving.

Financial considerations

Depending on where you’re moving, moving costs alone can be as high as $12,000. And that’s just the start. A new home, apartment or condo may need fresh paint and minor repairs or require the purchase of furniture and other household must-haves if existing items aren’t compatible with your new space.

Also keep in mind commonly made renovations to make the home safer and more comfortable as you age. According to Consumer Affairs, these include:

  • Installing grab bars
  • Adding outdoor ramps
  • Updating flooring
  • Improving lighting
  • Replacing faucets

Sometimes, larger renovations are necessary. A new bathroom could set you back $5,000-$25,000, while a kitchen remodel could cost $10,000-$50,000.

Make yourself at home

Whether you want to make improvements to the home you have or find a new dwelling that better fits your needs, a reverse mortgage is a financing solution designed exclusively for older homeowners and homebuyers that can play an important part of your retirement funding strategy.

Contact your local loan specialist at Reverse Mortgage Funding LLC (RMF) to learn more about leveraging the power of your home equity to build a stable financial future. Call RMF today at (888) 277-1567.

This content is sponsored by RMF, one of the nation’s leading reverse mortgage lenders. We are dedicated to helping older Americans live the retirement lifestyles that they imagined and deserve, in the comfort of their own homes. As a result of our commitment to providing an extraordinary and positive customer experience, we have earned a 98% customer satisfaction rating; a 5-star / Excellent score on Trustpilot; 4.5 out of 5 stars on LendingTree; and an A+ rating with the Better Business Bureau. Call (888) 277-1567 to speak with one of our experienced reverse mortgage specialists to learn about our retirement financing products and solutions.


Subscribe to Retirement News with Professor Craig

Join our mailing list to get the latest in lifestyle content, financial advice, news and information from Professor Craig to live a better retirement.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

A More Flexible Home Equity Loan

If you’re 62 or older, there is a home equity line of credit option that offers greater financial flexibility than a traditional Home Equity Line of Credit (HELOC). It’s called a Home Equity Conversion Mortgage (HECM) line of credit. 
If you have an existing mortgage or home equity loan you could refinance them with a HECM line of credit and get enhanced benefits, including a flexible payment feature and a line of credit that GROWS when left untouched.
As with any mortgage, you must meet your loan obligations, keeping current with property taxes, insurance, and keeping your home in good condition.

Equity Elite Reverse Mortgage

Put Your Home Equity to Work for You

Get Your Free Reverse Mortgage Quote

By clicking "CALCULATE", you are providing your signature and express "written" consent to be contacted by or behalf of Reverse Mortgage Funding LLC, its affiliates and/or its agents (collectively Company) at the telephone, email or mailing address that you have provided for purposes of fulfilling this inquiry about reverse mortgages and/or the Company's products or services, even if you have previously registered on a "do not call" government registry or requested Company to not send marketing information to you by email and/or direct mail. You agree that the Company may use automatic telephone dialing systems and prerecorded voice messaging in connection with calls or texts made to the telephone number you provide even if the telephone number is assigned to a cellular or mobile telephone service or other service for which the called party is charged and are representing that you are the regular user of provided number. You understand that you are not required to consent to receiving autodialed calls or texts as a condition of any reverse mortgage and/or purchasing any Company products or services. If you do not wish to authorize Company to contact you in this manner, you can call 888-277-1567 to complete your request. You understand that you can revoke this consent at any time.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.