Reverse mortgages are widely criticized, but often they are a perfect fit for the right person or couple and are becoming more popular. Many people across the country and in Arizona have them. There are five signs when a reverse mortgage is a perfect fit, and there are five signs a reverse mortgage is not recommended. But for baby boomers entering retirement with ten to twenty years to go on a two hundred thousand dollars or more mortgage, a reverse mortgage could be a smart savvy move and a way to keep expenses lower while investing for more growth. Today, we'll review the pros and cons of reverse mortgages, then experienced loan officer Mitch Boxberger with Nexa Mortgage joins us for the Q & A. Don't miss today's show...MASTERING MONEY is on the air!!
Today on Mastering Money...It’s a MOTLEY FOOL MONDAY!! The Motley Fool Money Show is one of the most popular stock market talk shows in America, featuring top market experts and heard by millions of listeners—including Saturdays right here on Money Radio! After an update of the markets and today's breaking financial news stories, we'll take you to an exclusive broadcast of the Motley Fool Money Show--plus a financial update from Steve you won't want to miss! -- MASTERING MONEY IS ON THE AIR!
Where do your beliefs and opinions come from? If you're like most people, including me, you honestly believe that your convictions are rational, logical, and impartial, based on the result of years of experience and objective analysis of the information you have available. In reality, all of us are susceptible to a tricky problem known as "Confirmation Bias. This is especially true when doing research on Google for information on annuities. Scientific studies conclude that we tend to focus on the information and headlines that UPHOLD OUR BELIEFS, and tend to ignore the information that CHALLENGES our beliefs. This can cost you thousands of dollars. Today, we'll review confirmation bias, how to overcome it, and how to make better fact-based financial decisions. Then Steve has seven questions you need to ask about annuities before you choose. A great show lined up for you today, don't miss it! MASTERING MONEY is on the air!
Dave Ramsey’s crusade to help middle-income families get out of debt and retire without a mortgage is excellent. HOWEVER, most of his work is focused on getting TO retirement, with very little emphasis on how to invest for income and preservation AFTER retirement. While Dave deserves praise for his Baby Steps program to help young families get out of debt, a rising chorus of experienced financial planners and investment managers are expressing great concern about Dave Ramsey’s questionable advice for those who are ALREADY retired. Ramsey promotes front-loaded mutual funds which pay his referred advisors up to 5.75% upfront commissions right out of the investors principal! With the market all-time high's, many believe this advice is a disaster for retired investors. We'll reveal some details that may shock you! Then Steve has some very timely tips for building retirement wealth the SMART and SAFE way. Mastering Money is ON THE AIR!!
The number of pension plans in crisis in America continues to grow, according to research by a prominent pension analysis firm. The annual survey, based on several sources of plan data for all multi-employer plans, found the number of plans declaring themselves likely to be insolvent within 20 years grew to 121 with a collective $48.9 billion dollars in under-funding. The 121 plans have total assets of $40.7 billion dollars and liabilities of $89.6 billion dollars. Another 67 plans already have terminated but have not yet run out of cash. They will run out eventually, leaving people who paid into pension plans without their planned-for-source of lifetime income. The size of the State of Illinois' pension obligation is $214 BILLION dollars, yet the state's pension funds have only $85 billion dollars available for payouts to retirees. Today, we'll identify exactly why its happening, and what smart retirees are doing to avoid running out of money. Then Shelley Grandidge joins us for the Q &A. You don't want to miss today's show, MASTERING MONEY is on the air!!
Given the choice, most people would prefer not having mortgages in retirement. But life is what happens when you're making other plans and a record number of people are now retiring with a heavy mortgage balance on their homes. For some very affluent individuals who itemize their tax returns, the mortgage interest is deductible and may still provide a strong benefit. But others are wrestling with whether or not to pay off their mortgage rather than invest their money. There are four main factors for making that decision. We'll discuss those today, then real estate mortgage expert Mitch Boxberger joins us for the Q & A session. You don't want to miss today's show, MASTERING MONEY is on the air!
Today on Mastering Money...It’s a MOTLEY FOOL MONDAY!! The Motley Fool Money Show is one of the most popular stock market talk shows in America, featuring top market experts and heard by millions of listeners—including Saturdays right here on Money Radio! After an update of the markets and today's breaking financial news stories, we'll take you to an exclusive broadcast of the Motley Fool Money Show--plus a financial update from Steve you won't want to miss! -- MASTERING MONEY IS ON THE AIR!
For over five years, European nations have been trying to jump-start their ailing economies with what was supposed to be a radical, SHORT TERM remedy—negative interest rates! Instead, central banks can't seem to wean their economies off of them. Increasingly, says the Wall Street Journal, negative rates on bank accounts and even treasury bonds appear to be a permanent feature of the global landscape. Could it happen in the U.S.? Experts say YES. But do you know how low bond rates can lead to recession and DEE-inflation, not IN-flation? We'll review the full Journal report, and then Steve reviews key planning tips for building retirement wealth the SMART way! MASTERING MONEY is on the air!!
National-security experts and politicians have a message for America: A significant portion of the sensitive data we have today is going to be cracked by foreign powers in the not-too-distant future, and there is nothing anyone can do about it. So says Christopher Mims, reporting for the Wall Street Journal. The danger comes from an ultra-powerful and still-experimental technology called QUANTUM COMPUTING—which leverages the quantum properties of atoms to quickly compute problems that no conventional computer could crack. China has already launched the equivalent of a MANHATTAN PROJECT in quantum, spending up to fifteen times more annually than the United States on research and development. As an investor, especially one that is in or near retirement, it is important for you to know how technology could affect the economy and the markets in a sweeping way, and how to protect your wealth the smart way. MASTERING MONEY is on the air!!!
Almost everyone has heard of Dave Ramsey, the financial radio host who helps people buried in debt--get OUT of debt. Mr. Ramsey does noble work for mostly younger, middle-income families who developed poor financial habits after high school, borrowed rather than saved, and now want a clean slate. We salute those families and Dave's mission of helping them. Dave is an expert on saving, but the financial industry points out that he is not licensed, trained, or qualified to be giving out stock market advice. Money Magazine’s headline of a major two thousand word article on Ramsey reads like this: “SAVE Like Dave Ramsey—Just DON’T Invest Like Him.” Today, we'll review that article and it may SHOCK you! Then health insurance expert Shelley Grandidge joins us for the Q & A. You don't want to miss today's show MASTERING MONEY is on the air!!!