What do the United States, Papua New Guinea and Oman have in common? Those are the only three countries in the world that do not legally obligate employers or taxpayers to pay for maternity leave.
Ever hear the expression “cutting off your nose to spite the face?” That’s exactly what the vast majority of condo owners are doing by not pursuing a Federal Housing Authority approval of their condos. Here’s why.
A home equity conversion mortgage (HECM) might simply be a fancy term for a reverse mortgage, but there are an increasing number of advisors and planners who are using them for an entirely different strategic planning purpose.
Some Baby Boomers have found themselves financially between a rock and a hard place. Rising costs, insufficient retirement savings and, in some cases, health issues, have forced seniors to consider taking out a reverse mortgage on the only asset they own. Is it a good idea?
Federal Housing Authority Loans have long been one of the most popular types of mortgage loans available. Roughly 20% of all mortgage applicants will choose an FHA loan because it makes total economic sense to do so. And the older you are, the more important having an FHA approved dwelling becomes.
Over the last decade, the percentage of Baby Boomers, those aged 65 to 74, living in the suburbs increased by almost 50%. Over the next 20 years, that age group will double in size, and by 2040, 1 in every 5 Americans will be age 85 or older. The majority of them will continue to live in the suburbs.
The family is headed toward a crisis in caring for the elderly. It will impact all of us, so if you have aging parents, don’t think you can just close your eyes and hope for the best. You are likely setting yourself up for a world of hurt.
If you thought the nation has problems with Social Security and Medicare, you ain’t seen nothing yet. Today, more than two-thirds of Americans assume they will be able to rely on a family member to meet their long-term care needs if needed. My advice: don’t count on it, and here’s why.
It sounds too good to be true. Why borrow from a bank when you can take a loan out from your 401(k) or 403(b) and pay yourself back in both interest and principal? If that sounds like a great deal, it’s not.
By Nate Tomkiewicz and Bill Schmick It might surprise you to know that many retirement savers religiously contribute to their tax-deferred savings plans but have no idea what investments they own. Many plan representatives simply suggest that if you don’t know, just invest in a target date retirement fund. Is this a good idea?
In this acrimonious political environment, little in the way of new legislation is expected to pass both chambers of Congress. One exception may be the Secure Act. Last Tuesday, a key House committee unanimously approved the bill, which would greatly enhance some private retirement plans.
The government’s partial shutdown has everyone on edge this year. Despite assurances from the powers that be, many taxpayers are concerned that their tax returns won’t be processed on time. Should you be worried?
As the year begins, those who are retired, or who plan to soon, need to know the changes the government has recently announced to your benefits.
It is a good time to take a reality check on how aggressively you are invested. The 6.9% decline in the S&P 500 Index over October was gut-wrenching. But entirely within the realm of probability given the historical data. Here are some questions to ask.
Forget the stock market, internet, and whatever you might think is worth investing in. The good old college textbook beats them all. That boring first semester hard cover and similar books have risen over 1,000 percent in price since 1977.
Student loans have now become the second-largest pile of consumer borrowing, after home mortgages. What’s worse, it is the fastest growing slice of American household debt and shows no sign of slowing down.