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5 min read

How to Handle Inflation

By EveryIncome on 8/8/22 10:00 AM

A majority of consumers today are suffering from the effects of inflation. We’re seeing inflationary rates that are akin to what happened in the 80s, so we’re talking decades ago. At the rate inflation is increasing lately, most people can’t afford what they’re used to and it’s causing financial strain on families everywhere. 

Topics: Planning in Advance Lifestyle Planning Planning Consequences investing Budgeting
2 min read

How Millennials Can Plan for the Future with a Financial Advisor

By NAIFA on 7/15/22 10:00 AM

The millennial generation has grown up in an era dominated by rapid changes in the economy. In recent decades, the responsibility of saving and investing has been largely delegated to individuals, as opposed to previous generations where this was mainly the role of governments and employers. Improved standards of living have also translated to increased life expectancies among millennials. The implication of this is that young people today have to make sound financial decisions to achieve financial security in retirement.

Topics: Retirement Planning Financial Planning Planning in Advance Retirement Legacy Planning Tools Financial Literacy Retirement Plans Financial Security
5 min read

Reverse Mortgages: No Longer Just a Loan of Last Resort

By Fairway Independent Mortgage Corp. on 6/24/22 10:00 AM

Many people have very strong opinions on reverse mortgage loans. Frequently, those opinions are based on misconceptions about what reverse mortgages are and how they work. One such fallacy that continues to live on is that reverse mortgages are just a loan of last resort—something that’s only for cash-strapped homeowners to utilize when all other viable solutions have been exhausted. 

In a recent New York Times article titled Reverse Mortgages Are No Longer Just for Homeowners Short on Cash, the author writes: “It was conventional wisdom that a reverse mortgage was a last-resort option for the oldest homeowners who desperately needed cash. But a growing number of researchers say these loans could be a good option for people earlier in their retirement […] who are not needy at all.”

Topics: Retirement Planning Financial Planning Planning in Advance Lifestyle Planning Reverse Mortgages loan Financial Security
6 min read

What’s the Right Amount to Save Each Month?

By EveryIncome on 6/13/22 10:00 AM

From emergency funds to retirement accounts and everything in between, it can feel impossible to save enough money each month. Even if you make more than enough money to make ends meet, you might wonder if you’re ever saving enough. While there’s no cut and dry answer as to how much you must save each month, we’ve created a guide to help you determine what’s right for you.

Topics: Financial Planning Planning in Advance Lifestyle Planning Financial Literacy Emergency Savings Savings Budgeting
2 min read

An Introduction to Annuities: How They Work and Their Pros and Cons

By NAIFA on 6/10/22 10:00 AM

What is an annuity?

An annuity is a financial product that provides regular and guaranteed payments to an individual, typically for a period of time after retirement. Annuities are often used as a retirement planning tool, as they can provide a guaranteed stream of income for life. This can be especially helpful for those worried about outliving their savings. 

Topics: Annuities Retirement Planning Financial Planning Planning in Advance
5 min read

What Is an Appraisal and How Does It Affect Homebuyers?

By EveryIncome on 6/3/22 10:00 AM

When you buy a home, the lender will require an appraisal. It sounds scary and like it could stop you from getting the loan you need or the home you want. While an appraisal can be a stumbling block when you’re trying to buy a home, it’s there to protect you and the lender. Understanding the appraisal, how it works, and what your options are if the appraisal doesn’t come in high enough is important.

Topics: Financial Planning Planning in Advance Financial Security
2 min read

Finances for Your Aging Parents: What to Expect and How to Prepare

By NAIFA on 5/13/22 10:00 AM

Finances for Your Aging Parents: What to Expect and How to Prepare

It's not always easy to think about your parents getting older and more dependent on you. When it comes to their finances, what do you need to know? What are the most important things for aging parents to consider when it comes to their finances? 

This article will cover what you need to know about planning for your elderly parent's financial needs in retirement so that they can maintain some level of independence. 

Topics: Retirement Planning Financial Planning Planning in Advance Eldercare Medicare Limited Care Financial Literacy
2 min read

How Do I Help Prepare My Parents for Medicare?

By NAIFA on 3/11/22 3:30 PM

Medicare is a government program created to provide healthcare coverage for people who are 65 or older, certain younger people with disabilities, and those on Social Security. It covers hospital stays, doctor visits, lab tests, eye exams, and more.

Medicare has many options for beneficiaries, including traditional Medicare (Parts A & B), which is full-service coverage but only includes items that are medically necessary or preventive in nature; a Prescription Drug Plan (Part D), which provides prescription drug coverage; and an Advantage plan or Part C that combines both Parts A &B plus supplemental medical insurance.

Topics: Long Term Care Financial Planning Planning in Advance Eldercare Medicare
3 min read

The Hidden Costs of Home Ownership

By EveryIncome on 2/7/22 10:00 AM

According to the National Association of Homebuilders, a majority of Americans (around 75 percent) believe that owning a home is the best way to make a solid investment in their future, and so it is a goal that many people strive towards.

Whether you’ve saved for years and are considering buying a home, or you have already become a homeowner and are planning your financial future from here, you must consider the hidden costs of home ownership.

In this article, we’ll talk about those costs and what to consider, no matter what stage of the home-buying process you are in.

Topics: Planning in Advance
3 min read

Find a Mortgage Before You Find the House

By EveryIncome on 2/4/22 10:00 AM

Buying a home is a significant step. With so much at stake, both financially and emotionally, you must be prepared for the process of fitting the house into your life — as well as fitting your life into the house.

If you need a mortgage to buy a home, take the task of finding a mortgage as seriously as any other task related to homeownership. The mortgage process might seem intimidating, but you can boil it down into five categories:

Topics: Planning in Advance

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