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How is a Reverse Mortgage different from an Equity Line of Credit?

by middleburgreverselady, posted in Caring for Aging Parents; A Daughter's Story, FHA HECM, Financial Planning, Laurie MacNaughton, Laurie McNaughton, Retirement Planning, Reverse Mortgage
Laurie MacNaughton 2017

Answer? In several important ways…

How Much Money Will You Really Need In Retirement?

by middleburgreverselady, posted in FHA HECM, Reverse Mortgage

How Much Income Will You Really

Need in Retirement?

Erik Carter Erik Carter, Contributor
RetirementRetirement (Photo credit: Tax Credits)

When we meet with individual employees, one of the most common retirement questions we get is how much income they will need in retirement. Unfortunately, it’s one question we can’t answer for them.  For example, I may run a retirement calculation that projects your retirement income at $65k in today’s dollars at age 62. What I can’t tell you is whether that’s enough or whether you should save more or retire later. Financial planners typically say you need about 80% of your income before you retire but actual needs can vary considerably. Here are some questions to help you figure that out.