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Pros and Cons of Reverse Mortgages

By Jason Alderman Over the last decade, reverse mortgages have been marketed as an easy way for seniors to cash in their home equity to pay for living expenses. However, many have learned that improper use of the product – such as pulling all their cash out at one time to pay bills – has led to significant financial problems later, including foreclosure. In actuality, there are some cases where reverse mort ...

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Resetting Your Financial Life for Retirement

By Jason Alderman The phrase "downsizing for retirement" is popular with Baby Boomers, the youngest of whom turned 50 last year. It sparks a conversation about transition, which may include buying fewer new things, selling, gifting or donating possessions that are no longer needed and relocating to smaller quarters to create a more comfortable and affordable retirement. If you've diligently saved and planne ...

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Yours, Mine and Ours: Planning Stepfamily Finances

By Jason Alderman The Pew Research Center reports (http://www.pewsocialtrends.org/) that four in ten American adults have at least one steprelative, defined as a stepparent, a step-or-half sibling or a stepchild, in their family. While the Pew study says that many stepfamilies operate harmoniously, it also notes that adults "feel a stronger sense of obligation to their biological family members than they do ...

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Three Tips for Anyone Expecting an Inheiritance

The odds are good that you will inherit money or assets in the coming years. And, if you’re like most people, you’ll save only half. The largest transfer of wealth in history is underway, with beneficiaries expected to receive $59 trillion over the next four decades, according to a Boston College study. But those heirs will lose, spend or donate half of their inheritances, if a 2012 study by Ohio University ...

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