A Reverse Mortgage for Retirement Planning

A Reverse Mortgage for Retirement Planning

A reverse mortgage can be a valuable financial management tool for seniors and their families.  However, if misunderstood or misused, borrowers and their heirs can encounter any one of a number of different challenges. In this post, I’ll define “reverse mortgage” and provide illustrations of 

Don’t Sweat those Mortgage Terms

Don’t Sweat those Mortgage Terms

A mortgage is key to buying a residence for most people.  Mortgage loan documents are often lengthy and full of technical terms.  As such, many people either don’t read them in their entirety or don’t understand the details.  As with all contracts, I recommend that 

The Home Equity Fallacy

The Home Equity Fallacy

Building home equity can increase your financial security, but it isn’t necessarily the best way to maximize your net worth.  That is, building home equity quickly isn’t necessarily the right choice for everyone, not even those who have the financial wherewithal to do so. I’ve 

Flex or Fix in Buy vs. Rent

Flex or Fix in Buy vs. Rent

Your residence is likely one of your biggest expenses.  The most common options for residences are renting and purchasing.  There are costs and benefits to both approaches, some of which depend on your lifestyle and goals and some of which depend on your finances.  In 

New vs Used Cars

New vs Used Cars

Is buying a used car really all that important to your financial health?  I’ve seen lots of articles and posts that say that financially responsible people buy only used cars.  Being the data geek that I am, I was curious so looked into the question.  

My Next Car: Pay Cash, Borrow or Lease?

My Next Car: Pay Cash, Borrow or Lease?

The finances of buying a car can be tricky.  In addition, there are so many other things to consider. What kind of car do I like?  How often do I want to replace my car?  How many people (and pets) do I need to be 

Should Chris Pay off his Mortgage?

Should Chris Pay off his Mortgage?

Chris @Money$tir asked other financial literacy and financial independence (FI) bloggers, in a post on March 9, 2019, whether he should pre-pay his mortgage or invest the money. He provided his thought process and calculations. In this post, I will review his calculations and then 

6 Tips About Homeowners Insurance

6 Tips About Homeowners Insurance

Homeowners, condo-owners and renters insurance policies cover you for loss or damage to your property and liabilityWhen used as a noun, the amount you owe to someone else.  When used as an adjective, an insurance coverage that protects you when you cause damage or injury 

Car Insurance Coverage

Car Insurance Coverage

If you own a car, you buy car insurance coverage.  In the process, you have to make lots of decisions.  Do you want to buy ComprehensiveAs it related to car insurance, a coverage that reimburses you for damage to or loss of your car from