Is it in your best interests to pursue a reverse mortgage? With the help of a financial advisor, you can determine the answer. (submitted photo)
Money Management MNCPA
One of the retirement planning resources that has gained interest in recent years is the reverse mortgage. A reverse mortgage allows you to convert part of the equity in your home into cash without paying additional monthly bills. If you’re 62 or older — and want money to pay off your mortgage or pay for other expenses — you may consider a reverse mortgage.
If you decide to look for one, the Minnesota Society of CPAs offers these three questions to ask so you can decide if a reverse mortgage is right for you.
Fall is a great time to aerate the lawn. Whether you do it yourself or hire a lawn care professional to do it for you, aeration at least once per year provides a number of benefits to your lawn, say experts.
Adding the right design elements to your home can complete what its architecture hopes to accomplish. But knowing just what to incorporate to complement — rather than detract — from the style of your home can present a challenge.
In the far background, the Eagle River Light Station sits on a bluff overlooking the river and offers stunning river view. (Pamela O’Meara/Review)
It's beautiful country, steeped in history and a half-day drive away
While the winters may be extreme, Michigan’s Keweenaw Peninsula is beautiful year-round. Its hilly terrain is covered by hardwood and conifer trees; scenic waterfalls mark its rivers, and it boasts of miles of shoreline and many inland lakes. Wherever you are on the peninsula, you’re never more than 10 miles from Lake Superior. It’s a haven for people who enjoy nature and outdoor activities – no matter what the season.
Struggling with student loans? You're not alone.
The Consumer Financial Protection Bureau reports that U.S. student loan debt exceeds $1 trillion, and student loan debt among seniors 65 years and older has climbed a whopping 600 percent in the last decade.
A few weeks ago, the Consumer Financial Protection Bureau announced that it was gathering information about student loan servicers -- the companies responsible for collecting and processing student loan payments.
Financial Professionals Association
A retirement plan with a solid, well-thought-out income strategy serves as vital protection against the many risks that threaten a person’s income during retirement, risks such as outliving one’s assets, losing a sizable portion of a retirement nest egg in a financial or real estate market downturn, getting ambushed by a health crisis or long-term care need, and seeing assets erode faster than anticipated due to rising inflation.