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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Kick Off the New Year with Solid Financial Resolutions! Is a Reverse Mortgage on Your List?
Retirement News

Kick Off the New Year with Solid Financial Resolutions! Is a Reverse Mortgage on Your List?

As 2022 nears, you may be contemplating your resolutions and new goals for the year ahead. In fact, 65% of American adults are considering a financial goal for the new year.

If you’re striving to improve your financial health, here are some tips to set yourself up for a comfortable financial future.

Budget, budget, budget. Your financial health for the year rests largely on following a sensible budget. You should already have an estimate of how much you need each month to pay your bills and living expenses. But how can you better allocate your funds to erase your credit card debt or make the home renovations you’ve been putting off?

Be strategic with your credit cards. Use a rewards card with 0% APR for balances you plan to carry month over month. Or, when headed to gas station, make sure you’re charging the payment on a card that gives you cash back for filling your tank. Being strategic can pay off big.

Build your emergency fund. More than half of Americans have less than three months’ worth of expenses in an emergency fund. Make it part of your budget to put away as much money as you can afford each month just for the unexpected. Establish automatic transfers to your savings, so you can set and forget it.

Make or update your will. What happens to your estate and your assets when you pass away? Your will is a critical tool to protect your family and to ensure your financial wishes are carried out. Make an appointment to sit down with a professional, so it’s one less worry for the rest of the year.

Consider a reverse mortgage loan. Available to homeowners age 55 or older*, this financial tool gives you access to your home equity as a lump-sum payment, a monthly payment or a line of credit that’s there when you need it**— all while still living in and owning your home.*** Best of all, you can use the money as you wish to pay off medical bills, finance home improvements, supplement your income or even take a vacation. Secure the funds you need to live your best life during retirement.

Your resolution solution

As you plan your financial outlook for the year, Reverse Mortgage Funding (RMF) can help you decide if a reverse mortgage is right for you. Start by calling 888-277-1567 or visiting ReverseFunding.com.

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.

*Available to borrowers as young as 55 in select states only. Higher minimum age requirements may apply. Visit www.reversefunding.com/equity-elite for details.

**Borrowers who elect a fixed rate loan will receive a single disbursement lump sum payment. Other payment options are available only for adjustable rate mortgages.

***As with any mortgage, you must meet your loan obligations, keeping current with property taxes, insurance, and maintenance.

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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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