Finance

The stock market seems to have turned a corner and mutual funds are growing again. For 401(k) investors there’s an opportunity to regain some lost ground, but they’ll need to make some decisions. How do you make the right choices without taking on too much risk again?

It’s unusual to feel financially well prepared for retirement. That’s due partly to the poor performance of stocks over the past decade. But mostly it’s due to not socking enough money away.

The gravy is steaming next to the savory stuffing and sweet potatoes. There are four types of pie for dessert — pumpkin, apple, sweet potato, and pecan. Every family has its own unique Thanksgiving dinner traditions but, as we all know, a carefully followed recipe is key to creating a perfect holiday meal. If you fail to plan, or measure your ingredients poorly, your pie could be a real flop. The same can be said for financial planning and preparing for your future.

I love my home. It is familiar, cozy and the place where I feel most secure and comfortable. I never want to leave. In fact, few people are eager to make a change in where they live, even as they grow older and their needs change. Studies have shown that 90 percent of adults over the age of 65 would prefer to stay in their current residence as they age.

More than 7.3 million older Americans — one out of every five people over the age of 65 — have been victimized by a financial swindle, according to a new survey by Investor Protection Trust (IPT)

Reverse mortgages, also called Home Equity Conversion Mortgages (HECMs), are government-insured loans that allow qualified senior homeowners to convert illiquid home equity into available tax-free cash for immediate or future use. Although reverse mortgages have been available since 1987, they still only account for about 1 percent of the total mortgage industry.

it is important to plan a detailed discussion, given the strong likelihood that older parents and their adult children have conflicting expectations about issues such as elder care, retirement security and inheritance.

Hiring financial help is hard. Anyone looking for assistance managing their money will quickly encounter an alphabet soup of professional designations.

We all know the stereotype of a "senior" - a weary, grumpy “old person.” But, like all generalities, this image of a "senior" is far from accurate. Today’s seniors are active, engaged and filled with a desire to get the most out of life. They have worked hard for many years to earn a living, buy a home, and raise a family. Now they are eager to turn to the next chapter and enjoy the rewards of retirement.

The National Elder Law Foundation defines elder law as “the legal practice of counseling and representing older persons or their representatives.” On its face the definition appears to be both simple and clear.