photo credit: get directly down Part one of this four part series explained the complexities of a reverse mortgage. Parts two and three gave the advantages and disadvantages respectively. And now, in part four, we arrive at the crux of the reverse mortgage issue: is it for you? First, however, let’s review the definition and […]
Reverse Mortgages Part Three: What are the Disadvantages?
Jacqueline Marshal* and her husband Tom* were comfortably retired when Tom died unexpectedly. Because both of them had been drawing a Social Security pension, Jacqueline’s monthly income was reduced by $700 a month (the smaller of the two pensions) upon Tom’s death. Jacqueline considered replacing the bulk of that lost cash flow by taking out […]
Reverse Mortgages Part Two: What Are The Advantages?
photo credit: Maxwell GS When Donald Franklin became a widower he wasn’t prepared for the financial consequences. He and his wife Wilma had become accustomed to both of their pensions and both of their social security incomes. However, his survivor benefits paid him only half of her pension and none of her social security. Donald […]
People Are Begging for Financial Help. Five Things You Can Do
photo credit: vtdainfo The Recession is having some positive spin offs. A report from Mintel Comperemedia revealed that, because of the current economic crises, three in four adults are trying to increase their financial know how. Susan Menke, VP at Mintel Compermedia, comments: “The recession was a wake-up call for many Americans. They now feel […]
When Does Saving Turn To Hoarding?
photo credit: tallkev The bible clearly states that saving is a good thing (Prov 21:20) and that hoarding is not (Luke 12:20-21). But is there a clear distinction between the two? And how can we know if we have crossed the line? This post will first examine the spiritual aspect of hoarding, then give some […]
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