Retirement
Part 5: How to Manage Unexpected Retirement
A number of strategies can help older adults manage unexpected retirement. Caregivers may need additional resources for support.
Part 4: Job Dissatisfaction and Unexpected Retirement
When older adults job dissatisfaction, they may experience unexpected retirement. The desire to pursue other interests also draws older workers to retire.
Part 3: Caregiving and Unexpected Retirement
Caregiving responsibilities can cause unexpected retirement for older adults. This especially is a concern for women, who are the majority of caregivers.
Part 2: Health and Unexpected Retirement
Health problems can be a factor that causes unexpected retirement among older workers. What can older workers do when health forces them out of work?
Part 1: Layoffs and Other Job Loss in Unexpected Retirement
Layoffs and job loss are among the reasons why older workers retire early. Employers have other strategies to prompt older workers to retire.
Coping with Unexpected Retirement Blog Series
Unexpected retirement has a number of effects for older workers, especially financially. There are strategies older workers can use to protect themselves.
Determining if Downsizing is Right For You
Determining the right time to downsize your home can be hard, but with our Checklist and Questions to Consider, we simplify the decision on downsizing.
Retirement Reads
There are countless resources to help plan for retirement. We’ve reviewed a few of the best picks for planning and enjoying the next step in your life.
Why a Reverse Mortgage Can Change Your Finances in Retirement
Worried about how you are going to manage your finances in retirement? Learn how reverse mortgages can change your financial situation in retirement.
Easy Ways to Improve Your Home Appraisal
A home appraisal provides an official value of your home’s current value. The proceeds from a reverse mortgage are based on the value of your home and age.
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Website: www.reversemortgages.com
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1. At the conclusion of a reverse mortgage, the borrower must repay the loan and may have to sell the home or repay it from other assets;
2. Charges will be assessed, which may include an origination fee, closing costs, mortgage insurance premiums and servicing fees that will be added to the loan balance;
3. As with any home-secured credit, the borrower must meet all obligations: keeping current with property-related taxes, insurance, maintenance and any homeowners association fees; failure to pay these amounts may cause the mortgage to come due, may subject the property to a tax lien or other encumbrances, or may result in the loss of the home;
4. The loan balance grows over time, and interest is charged on the outstanding balance. The accrued interest is not deductible from the income tax return until the borrower makes partial or full repayment.
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