7 Mortgage Tips For Retirement (Dec 13, 2016)

Entering retirement debt-free is psychologically and financially liberating. Yet for many individuals, enjoying lower expenses during retirement can turn out to be nothing more than a myth, in large part due to your mortgage.

Your mortgage payment is typically your largest monthly obligation. Today, people seldom stay in the same house long enough to pay off a 30-year mortgage. Even if they do, many people restart the payment clock by refinancing or by taking out a home equity loan. Here are seven tips to consider if you’re contemplating your mortgage as you enter retirement.

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Reverse Mortgages In Retirement (Jun 28, 2016)

Home equity is one of the largest assets for many Americans. This may be especially true if you’re a retiree living in the DC Metropolitan area; the family home that you bought years ago is likely to be worth many times what you originally paid for it.

Besides selling your home and downsizing, a reverse mortgage may be an option to access the equity in your home. Financial professionals are increasingly recognizing the potential role that reverse mortgages can play in retirement planning. SageVest Wealth Management offers a brief summary of the program, its withdrawal methods, and how it compares to the more traditional Home Equity Line of Credit (HELOC).

 

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Home Expense Records: What You Need To Keep (Feb 24, 2016)

If you’re like most people, you’d love to reduce the clutter in your life. This includes paperwork, particularly the volumes of home expense receipts.

SageVest Wealth Management advisors are often asked what you need to keep versus what you can toss. Here’s a quick overview on how to make sure you have what you need to reduce any taxable gain exposure on your house when it’s sold, while opening up some valuable living space in the meantime.

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Vacation Homes (Jun 24, 2013)

A rustic cabin or a seaside cottage? Buying a second/vacation home can be an alluring prospect. Before you decide to purchase one, though, you should consider a number of issues. These include the costs associated with owning a second/vacation home, the attributes of the home, its rental potential, and the income tax treatment. Even if you rent it out or deduct part of the costs of ownership from your taxes, a second/vacation home is primarily a luxury, not an investment. You should buy one to add value to your life instead of to your net worth.

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