Retirement

reverse mortgagesIt’s no surprise that the majority of Americans aren’t good at saving for retirement. Many Baby Boomers are waking up to the realization that they are going to have to work much longer in order to afford retirement or possibly not even retire at all. If you are in this predicament, do you have any options other than not retiring? The answer is yes: you can consider taking out a reverse mortgage. In fact, reverse mortgages should play a role in the retirement of many Americans.

What Are Reverse Mortgages?

A reverse mortgage is when you get a monthly income stream from the lender based on a percentage of the value of your house. Typically, the more valuable your home is worth and the older you are, the greater the monthly income you can receive from taking out a reverse mortgage.

Here is how it might work: you take out a reverse mortgage on your house and the bank pays you a monthly income of $800. You do not have to repay the loan as long as you are living in the home and you have not sold it. Sounds good, right? There are some things you need to know before taking out a reverse mortgage:
[Continue Reading…]

10 comments

automatic etf investing service cuts fees

Breaking News!! Schwab To Take On Betterment, Wealthfront

I just read a story on Reuters that is blowing my mind. Apparently, Schwab is a few weeks away from offering an automated ETF investing service, or robo-investing service, that is along the same lines of what Betterment, Wealthfront, and the other new automatic ETF investing services offer. So why is this big news? Two reasons: First, Schwab is the first large discount broker to be going down this road. (I’ll go into more detail about this below) Second, according […]Read the full article...

tradeking review

TradeKing Review: Is This Your Online Broker?

Welcome back to another review of the various online brokers at your disposal when investing. Today I am going to talk about TradeKing and whether or not it makes sense for you to consider investing your money with them. Below you will learn about the features and benefits of TradeKing and where I think it lacks compared to other online brokers. As always, you can check out my online broker comparison chart for in-depth information about all of the brokers […]Read the full article...

retirement sign

How To Retire At 50 And Live Like A King (or Queen)

While most people only dream about retiring at 50, there are people out there that turn this dream into a reality. What is their secret? Did they win the lottery? Rob an armored car? Print counterfeit money? While there may be a few people that did do those things, the reality is that most retire at 50 by following 3 simple pieces of advice. How To Retire At 50 In 3 Steps Step 1: Save More – A Lot More […]Read the full article...

round table

The Round Table – September 28, 2014

Welcome to The Round Table! Lots of things happening in my world right now. I’ll go into detail on many of them in an upcoming post, but for now let’s just say my awesome experience as a landlord just hit a big bump in the road. No big worries though at this point as I have options. In addition to that, I spent some quality time doing house projects. I got a good amount of things updated/remodeled, but the list […]Read the full article...

etf or mutual fund

Investing Made Simple: Your Guide to ETF or Mutual Fund

I recently received a question from a reader about ETFs and mutual funds. The reader read my mutual fund basics post along with what is an ETF post and wanted to know which one is a better investment. This question is almost impossible for me to answer, because it all comes down to you, the individual investor. You have to decide which product makes the most sense for you and your investment plan. To help this reader and others, I […]Read the full article...

different types of investors

Are You A Celebrity, A Gambler Or A Straight Arrow?

When it comes to investing, everyone has their own goals and plans. Some may be investing for retirement, while others are using their investments for income. Whatever the case may be, each investor is different. This isn’t a surprise since each one of us are unique individuals. But knowing what type of investor you are can make you become a better investor. See which type of investor you identify with most below. Broad Classifications of Different Types of Investors The […]Read the full article...

fall trees

Carnival of MoneyPros – Feels Like Fall Edition

Welcome to this week’s edition of the Carnival of MoneyPros! This week’s edition is called ‘Feels Like Fall’ because fall is definitely in the air here in the Northeast. Fall is my favorite season and I love the cool, crisp nights that it brings. It’s also a smart time to do any last minute home projects outside before the weather turns too cold. I’m currently working on a host of household projects as we speak. But that that said, during […]Read the full article...

scottrade review

My Scottrade Review: One Of The Best Online Brokers

When I first started investing way back in the late 1990’s, there weren’t many options for me to choose from when it came to brokers. The world of online brokers was still in its infancy. I had to resort to a brick-and-mortar discount broker that charged me about $30 to place a trade. We have come a very long way. Now the internet is full of various online broker options for you to choose from. The question becomes, which one […]Read the full article...

what does etf mean

What Does ETF Mean?

I’ve talked in depth about mutual funds on this blog – case in point is the mutual fund basics post a few weeks ago. But what I haven’t talked to you about are exchange traded funds or ETFs. Exchange traded funds have grown in popularity over the past few years. This post will walk you through what they are and why you should consider investing in them. What Is An ETF? In a broad sense, an ETF is a hybrid […]Read the full article...