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. 

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Changing Your TV Service is as Easy as Changing Channels
Retirement News, Financing Retirement, Retirement Tips

Changing Your TV Service is as Easy as Changing Channels

In-home entertainment is more important than it’s ever been before. Fortunately, the universe of choices has never been more robust between television streaming services and service providers. But the massive volume of alternatives can lead to overload — and overpayment. So, what are you paying for, and what should you really get? RMF has broken down and listed out the different options available for you to determine what best fits your retirement TV needs.

First, some basics.

TV can still be Free.

You can get TV for free (sort of). An HD antenna attached to any TV will deliver basic broadcast network and local affiliate stations. You’d also be able to tune in to a number of “subchannels” like Bounce, MeTV, Laff, Comet and others that can provide a niche experience similar to cable, all absolutely free. But it’s limited to over-the-air content.

It’s important to know the difference between a broadcast network and a cable network if you go this route. ESPN, Lifetime, Food Network — all are examples of basic cable networks that are usually bundled with a basic cable package from several different television service providers. HBO and Showtime are premium cable networks, meaning you pay for each on a subscription basis.

Those are the basics you likely already know — the TV you’ve grown up on. But nothing easy stays that way, and TV has become complicated in the quest to entertain ourselves. Now there are alternatives to the basic cable television service.

Smart TVs, Streaming Services, Apps — Do I Need Them All to Watch TV Now?

You do not need all of them. These are all simply gateways to TV content.

A smart TV is similar to your smartphone, except with a far bigger screen. You access what you need via apps. Prices for smart TVs vary and are coming down as they begin to dominate the new TV market. But any TV is hardware and is susceptible to technology fatigue. That “Ultra High Definition” smart TV that was breathtaking last year will be dated next year. So before spending $1,500+ for a new 85” 4k UHD TV, consider its shelf life.

Don’t have the budget for a new TV? Physical devices such as Sling, Roku and Amazon Fire TV Stick turn a non-smart TV into a smart TV. During the setup process, you simply connect them to your Wi-Fi in order to access various streaming apps through your TV. If you cut the cord, they are the equipment that will allow you to access other content packages that are available online.

Now You Have Your Screen. Next, You Need Content.

Streaming services (Netflix, Amazon Prime Video, Disney Plus, CBS All-Access, Peacock) are essentially subscription-based, on-demand content libraries. Figuring out what service carries the content takes some time and effort, but it allows you to really customize your viewing and figure the best television streaming service for your retirement tv needs. The typical American home subscribes to four to five streaming services at an average cost of around $50 a month.

Services such as YouTube TV and Hulu Plus let you access a bundle of live cable and broadcast networks in addition to on-demand content. These are pricier options than simply streaming — each averaging $50+ per month — but they are the closest things to alternatives for cable television services.

Make Some Calls Before You Cut the Cord

Happy with your cable provider, other than the price tag? Reach out and have a polite discussion about leaving them, and they may offer discounts to retain your business. Many discounts last for a year, but most will simply renew them at your request. Your entertainment dollar, already a hard-working one, will work even harder for you. *Some discounts offered may apply specifically to those in retirement, such as the senior discounts for DIRECTV. (Horizon recommends potentially implementing this copy into the paragraph above regarding discounts and including an external link to the DIRECTV discount)*

Now that you’ve maximized your finances for a changing television world thanks to RMF, perhaps it’s a good time to harness that momentum and review your home finances. Reverse Mortgage Funding, LLC (RMF) can ensure that your retirement dollar works as efficiently and effectively as you deserve, leveraging the equity built up in your home to have it work harder for you.

For more retirement news from RMF visit our Retirement News with Professor Craig here.

To learn more, call RMF today at (888) 277-1567 to have a personal conversation with a loan specialist in your area.

This content is sponsored by RMF, one of the nation’s leading reverse mortgage lenders. We are dedicated to helping older Americans retire more freely, 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 4.7-star / Excellent score on Trustpilot; 4.8 out of 5 stars on LendingTree; and an A+ rating with the Better Business Bureau. Call 888-277-1567 to speak with a licensed reverse mortgage specialist to learn about our retirement financing products and solutions.

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If you have equity in your home and believe you meet the eligibility requirements, a HECM may be the option that could help you retire smart.

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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.


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