Are you a "house-rich" and "cash-poor" senior citizen? If so, you’ve no doubt thought about getting a reverse mortgage to help make ends meet. But you also have to consider if the cure is worse than the ailment. You can’t watch daytime TV without seeing a commercial for reverse mortgages. The pitch sounds good, but is it? On this edition of MoneyWise, Rob West and Steve Moore discuss some alternatives to reverse mortgages.
Then, they answer your questions at (800) 525-7000 and firstname.lastname@example.org about the following:
- If you're almost 54, should you still need life insurance.
- Where can you go to find Christian-based mutual funds?
- If your spouse recently passed away leaving you with a 401(k), what should be your next steps?
- If you're a retired schoolteacher living on of your pension and Social Security, should you follow advice to roll your 403(b) into a guaranteed monthly income for life annuity?
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