Tag: reverse mortgage

Last will and testament

Every year, older homeowners leave billions of dollars worth of the wealth locked up in their houses to their adult children. This is a paradox if one considers that home equity is one of retirees’ primary assets and could be a crucial source of income for people who are “house rich and income poor.” Retirement…

Little,Adorable,African,American,Grandchild,Whispering,To,Her,Smiling,Grandfather

One telling indication that retirees are in serious financial straits is when they take less of their medications or don’t fill prescriptions. Nearly one in four low-income retirees has difficulty paying for medications, despite passage of Medicare Part D in 2006, which reduced out-of-pocket drug costs. Between 2011 and 2015, the average Medicare beneficiary spent…