Aging in place has become more common in recent years. A person aging in place lives in the residence of their choice, for as long as they can, while they age. Aging in place usually requires making changes in the home and identifying support systems to allow seniors to live safely, independently and in familiar…
Paying for College: Cash or Credit
Paying for college is one of life’s big ticket items, along with buying a home and the cost of retirement. Needless to say, there are two significant decisions to be made regarding college. First, should you go; and second how should you pay for it? You Can’t Afford Not To Go Average cost at four…
Gains on the Sale of Homes Can be Non-Taxable to All Age Groups
The tax rules allow certain gains on the sale of homes to be excluded from taxable income. Home ownership has always been part of the American dream. That dream took a “hit” during the Great Recession when many homes were underwater (the market value of the home was less than the outstanding mortgage) and foreclosures…
Health Savings Accounts: Pay Medical Bills or Save For Retirement?
Health savings accounts (HSAs) have existed since the law’s effective date in 2004. HSAs are tax advantaged savings accounts for current or future medical expenses. To open an HSA and make contributions, you must have a high deductible health plan, not be claimed as a dependent, have no other health coverage except what is permitted…
Financial Literacy Will Make Your Child Happier!
Parents and grandparents have high hopes for their children. Some say they want their children to be happy, successful and self-sufficient in life. Other mothers and fathers say they want their children to fulfill their potential, earn enough money to enjoy a comfortable lifestyle and be successful in their career. Will Financial Literacy improve your…
Digital Deception: Current Trends in Cybercrime
In December 2016, Yahoo announced that data associated with more than 1 billion user accounts had been stolen in 2013. The company believes this was a separate incident from a previously announced theft of data from 500,000 user accounts in 2014. Although the sheer number of compromised accounts is staggering, the Yahoo breaches are just…
Financial Health Checklist – How to Budget, Save, Spend and Invest
A Supplement to Grant’s Smart Money Trilogy. How to Budget, Save, Spend and Invest (Book 1). (Downloadable PDF included below). The following checklist is intended to be used annually by an individual, a couple or a family in the areas of budgeting, savings, spending and investing. If each member of a couple has…
Reverse Mortgage: Who Qualifies?
Reverse mortgage popularity grew slowly from the start of the Federal Housing Authority’s (FHA) insured program in 1988 until the early 2000’s. The growth of reverse mortgages accelerated from 2006 through 2009 with the increase in home values. During the recession, the number of new Home Equity Conversion Mortgages (HECM) issued under the FHA reverse…
Reverse Mortgages: A Historical Perspective
Reverse mortgages are being promoted on television by Henry Winkler, (The Fonz), the star of “Happy Days” and Fred Thompson, a politician and the Manhattan District Attorney in “Law and Order”. We have all seen their tv commercials. So What is a Reverse Mortgage? A reverse mortgage is a home loan for older homeowners that…
Divorced After 50: How to Plan for Retirement
One in four divorces involves couples over the age of 50. In addition to the emotional turmoil caused by being divorced after 50, a late-in-life divorce also causes a tremendous upheaval in retirement plans. What can you do to ensure your golden years are still secure even though you find yourself in unfamiliar territory? Negotiate for…