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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How the COVID-19 Vaccine Can Help You Retire in Good Health
Retirement News, Financing Retirement, Healthy Living, Refinance

How the COVID-19 Vaccine Can Help You Retire in Good Health

Protect your future from COVID-19

Since the onset of the COVID-19 pandemic, researchers from around the world have worked at warp speed to develop a vaccine to combat the potentially lethal virus. According to the CDC, the risk for severe illness rises with age, elevating the risk for hospitalization and even death. Approximately 500,000 COVID-related deaths have been reported in the U.S. as of mid-February 2021. 

The United States’ vaccine rollout began in late December, much to the relief of millions. The vaccine rollout prioritized those with immunodeficiencies and the elderly, who are mostly made up of retirees. A few months into the country’s massive distribution efforts, the willingness of Americans to receive the vaccine continues to increase — especially among adults over 65. Reverse Mortgage Funding has laid out some information regarding the COVID-19 vaccine and how to handle your future retirement during the coronavirus.

The Current COVID-19 Vaccines

To date, three vaccines — from Pfizer-BioNTech, Johnson and Johnson, and Moderna — are being given to qualifying individuals, including: healthcare workers, staff and residents of long-term care facilities, people 65 and older, younger individuals with certain underlying conditions, and essential frontline workers.

Regardless of age, gender or ethnicity, according to research, Pfizer-BioNTech's vaccine is about 95% effective in preventing or reducing COVID-19 symptoms, while Moderna’s proved to be about 94.5% effective against the virus. Both require two doses to achieve maximum benefits, with optimal protection beginning a couple of weeks after the second dose. The second dose of Pfizer’s vaccine must be administered 21 days after the first shot. Moderna’s second dose is given 28 days following the initial jab.

A third vaccine from Johnson & Johnson subsidiary Janssen Biotech just received FDA approval and is recently available. The single-dose vaccine does not require ultra-cold storage conditions, which is certain to help ease the supply and distribution bottlenecks that have hampered rollout across the country.

What to Expect When Receiving the Vaccine

The Food and Drug Administration (FDA) conducted rigorous testing to ensure the safety, quality and efficacy of the vaccines. In addition, drug companies were required to collect extensive data from clinical safety trials prior to the mass rollout. But it’s important to note that side effects from these vaccines are still possible and wide-ranging, and in most cases, completely normal.

Common reactions include arm pain or swelling at the injection site. Other vaccine recipients may experience fatigue, headache, or even a fever and chills. Allergic reactions are rare, but you’ll be required to wait 15 minutes after receiving each dose to check for a reaction. Speak with your doctor about your concerns and how the vaccines may affect you, including altering or temporarily stopping any treatments or medications you’re currently receiving.

Lingering Questions

Will the vaccine prevent transmission? Will I need to get a shot every year? Is it safe to see my family without a mask now? How will covid-19 change retirement?

There are many questions that are still up in the air, but after an unprecedented year, the majority of people are seeing a light at the end of the tunnel thanks to the new vaccines. Vaccines are available to everyone free of charge, so be sure to check in with your doctor, or state or local health department regarding your eligibility. The CDC continues to recommend mask-wearing, social distancing and avoiding large gatherings until more research suggests otherwise. RMF has laid out how even with the coronavirus, you can still maintain your retirement goals. Learn here how Reverse Mortgage Funding is still working to meet your needs during this pandemic.

Take Charge of Your Future

The new COVID-19 vaccines allow you to take a proactive step in protecting your health — but what are you doing to take control of your finances? With hardships from the coronavirus, many potential retirees are making covid retirement withdrawals. These withdrawals are leading them to have their retirement plans completely changed with less money saved for when the time does come to retire. A reverse mortgage loan from RMF is a smart financial tool, allowing homeowners age 62 and older to leverage the equity built up in their home to supplement their retirement income. You choose how to receive your funds, either as a lump sum, monthly payments or a line of credit that’s there when you need it, all while you continue to live in and own your home.* As with any mortgage, you must meet your loan obligations, keeping current with property taxes, insurance and keeping your home in good condition. For more retirement news, visit RMF’s Retirement News with Professor Craig here.

Find out how you can retire more freely. Reverse Mortgage Funding (RMF) can answer your questions and help decide if a reverse mortgage is the best option for you. Call RMF today at (888) 277-1567 to schedule a free, in-person appointment 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 4.8-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.

This information is not a substitute for medical advice. You should consult with your physician regarding any health concerns. 

* 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

SEE WHAT FUNDS YOU MAY HAVE AVAILABLE

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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