Here is Why Reverse Mortgages May Be on the Rise

A rise in withdrawals from retirement accounts might herald the potential for reverse lenders. As inflation strains budgets, Seniors are starting to contemplate reverse mortgages. People 62 and older can convert part of their equity in their homes into cash with a reverse mortgage.

The SEC’s New Proposal¬†Could Hurt Your Retirement Account

Retirement savings plans like 401(k)s and IRAs are crucial to the long-term financial well-being of millions of Americans. Mutual funds, which provide simple diversification for clients, are the most popular investment vehicle in the United States.

Despite mutual funds’ effectiveness in assisting industrious Americans in saving for retirement, the Securities and Exchange Commission (SEC) aims to significantly alter how these funds operate, leading to more significant expenses and poorer returns for investors.

Things To Know When You Reach 65

When you reach the age of 65, there are five financial milestones you should be aware of. Even if you aren’t quite ready to retire just yet, this is an important age for planning your future.

Changes To Your Tax Situation That Can Yield Financial Benefits

As far as individual income tax rates are concerned, 2022 is likely to go virtually unnoticed unless a lame-duck Congress passes some hasty legislation. However, several crucial federal tax decisions are still to be made before the end of the year that may lead to cost savings, especially for investors.

How to Reduce Medical Costs in Retirement

One of the most significant expenses you’ll face in retirement is healthcare. Fidelity estimates that the average 65-year-old couple retiring in 2022 will require about $300,000 to cover all of their medical expenses, not including dental or long-term care. Although there is no way to avoid retirement healthcare costs altogether, you can lower them by using the advice in this article.