Should a reader's wife take a Social Security benefit at age 62? What happens to the Social Security Spousal Benefit? Here's this week's Question and Answer about Social Security. Should my wife take my Social Security benefit? Q: I would like your opinion on a Social Security question we have for my wife. First, I’ll [...]
Is it better to rent or own your home in retirement? This reader wants to know if they should continue renting or use their savings to buy a home. Q: I'm 66 years old, with $5,100 dollars in monthly income from the government. I have no living dependents. I currently pay $1,600 a month in [...]
Should I refinance my mortgage before retirement? This reader wants to know if they should take advantage of low interest rates even if they’re close to retiring and selling the home. Q: We borrowed $355,900 in 2007 for a 30-year fixed mortgage at 6.25% and still owe $230,000. My wife is retired, and I plan [...]
What you should know about refinancing your mortgage before retirement. Four things to consider when refinancing your mortgage before retirement. We recently received a long comment on one of our questions regarding a homeowner who was deciding whether to refinance their home before retiring. Our correspondent is a mortgage industry veteran of many years and [...]
How Will COVID-19 impact retirement planning? New research finds older Americans might have to delay retirement due to the coronavirus pandemic. The financial fallout from the coronavirus pandemic is already devastating to millions of consumers. More than 40 percent of Americans say their level of financial security has deteriorated since the COVID-19 pandemic began. Around [...]
Building your retirement home. How to go about selling your current home and renting while your retirement home is built. Q: We live in Alaska. We have property in Washington that has a large shop on it and we also want to put a house next to it. We are selling our Alaska home and [...]
5 best states to retire in 2020. After weighing nearly 50 factors in each state, WalletHub determined this is best state to retire in 2020. At the end of your career, there are two big questions you need to answer: When should you retire, and where should you spend your retirement years? These are both [...]
Home buying, selling and getting a mortgage in retirement. This reader wants to know how to time selling their home and getting financing for a new one. Q: I am single and have an 800+ credit score. I plan to retire in the next year or so and move to a small town in the [...]
Retirement housing costs and the effects of inequality. Research from JCHS spotlights the financial challenges seniors face finding affordable housing. America’s aging population is facing considerable financial challenges when it comes to housing inequality. Research from the Harvard Joint Center for Housing Studies (JCHS) underscores the severity of these challenges. The number of older adults [...]
Top 10 best places to retire in the U.S. in 2020. Housing affordability, desirability, health care and overall happiness were factored into rankings to find the best places for retirees to spend their retirement. Top 10 Best Places to Retire in the U.S. in 2020 Retirement is a milestone that can bring, freedom, purpose, enjoyment [...]
