It’s Tax Season Again!

It seems like every year there are new things to learn about the changes to the tax code, and this year is no different. In fact many changes were made to the way that taxes are paid now, and while we will not cover them all in this article, lets discuss a very important tax stipulation for many Seniors.

Are you over 70? How much do you know about the required minimum distribution?

Because there are severe penalties for non-compliance, we’d like to share the Motley Fool’s Guide to Seniors RMDs.

Deferred retirement saving is one of the best tools at investors’ disposal, but you can’t simply let your money grow forever — at some point, you have to start withdrawing it. This is known as required minimum distributions (RMDs), which is an IRS rule that says you need to start taking distributions from certain retirement accounts beginning at age 70 1/2.

Here’s a guide to what an RMD is, when your RMD deadline is, and how to calculate your 2018 RMD. Be sure that you get this right. The penalty for non-compliance is severe.

What is an RMD?

RMD stands for required minimum distribution, and is an annual minimum amount that must be withdrawn from certain types of retirement accounts after you reach 70 1/2 years of age.

Generally speaking, you have to take each year’s RMD by the end of the calendar year. The only exception is for your first RMD, which must be taken by April 1 following the calendar year during which you turn 70 1/2. For example, if you turn 70 1/2 during 2018, you technically have until April 1, 2019, to take your first RMD. (I say “technically” because there’s a good reason not to wait until the last minute, which we’ll get into later on.) read more here…


Safety Tips for Seniors

Driving Safety Tips for Seniors

A change in driving ability can come on gradually, or relatively quickly if there has been a dramatic change in a senior’s health, affecting his or her judgment on the road. Be aware of the following conditions that can be precursors to potentially serious car accidents:

  • “Careless ” driving: Numerous close calls, almost crashing, denting and scrapping the car on fences, mailboxes, garage doors, and curbs.
  • Police pullovers: Tickets or “warnings” by traffic or law enforcement officers for not complying with the rules of the road.
  • Difficulty with driving mechanics: Making sudden lane changes, drifting into other lanes, braking or accelerating suddenly without reason, failing to use the turn signal, or keeping the signal on without changing lanes.
  • Eyesight problems: Physical changes to the eyes can cause a senior to not see clearly or respond as quickly to traffic lights or street signs from an appropriate distance.
  • Hearing problems: Decreased ability to hear or respond to signals that might necessitate quick action, such as emergency sirens or honking horns.
  • Memory problems: Confusion regarding roads and/or missing exits that used to be very familiar, or getting lost frequently.
  • Diminished reflexes and range of motion: Not reacting quickly enough if there’s a need to brake suddenly, confusing the gas and brake pedals, becoming flustered while driving, or being quick to anger when behind the wheel.

Know what you can do to be a safe senior driver

  1. Schedule regular check-ups: This includes eye, hearing, coordination and reflex tests, as well as an overall health assessment.
  2. Customize your car for safe driving: An occupational therapist or a certified driving rehabilitation specialist can prescribe equipment to make it easier to steer your car or to operate the pedals. Consider driving a car with automatic transmission, power steering, power brakes and large mirrors.
  3. Drive defensively: This includes such safe driving basics as leaving enough space for the car in front of you, paying extra attention at intersections, and making sure you are driving with the flow of traffic. Take a defensive driving course if possible.
  4. Acknowledge your limitations: If a driving situation makes you uncomfortable, don’t do it. As the adage goes, “Better safe than sorry.”  Try and accomplish tasks during daytime hours to help with possible vision impairment.
  5. Listen to the concerns of others: If relatives, friends, or others express concerns about your driving, it may be time to take an honest look at your driving ability.
  6. Exercise: Be physically active or exercise regularly to improve strength and flexibility.

courtesy of

Winter Fall Prevention Tips for Seniors

Each year, 2.8 million elderly adults are treated for falls, many of these are related to cold-weather conditions, which can create slippery or icy surfaces. Winter and the holidays should be times of joyous celebrating with family and friends. Over 800,000 of these falls require intervention.

Some reasons why falls risks increase with age:

  • As we advance in age, the sensation in our feet can decline, especially if we suffer from diabetes, poor circulation, arthritis, or lingering complications from a stroke. When this sensation decreases, it will affect our balance. Slippery surfaces are no place to lose your balance.
  • Many elderly adults are on multiple medications, which can cause side effects such as dizziness or even dementia. These conditions pose a significant risk for falling.
  • Many elderly adults walk with an unsteady gait, even when weather is not a factor. In addition, for seniors without adequate exercise habits, muscles can weaken, and leave them more susceptible to falls.

Here are some suggestions for preventing falls

  1. Plan ahead. When possible, plan trips around the weather. If you do not need to go out, don’t go out. Wait for the weather and travel conditions to become clear.
  2. Allow enough time to get where you are going. The chances of falling increase when you rush and use less caution.
  3. Exercise caution when getting into and out of vehicles. Always hold securely to a door or another person.
  4. Take the path of least resistance. Look for the safest route to your location, including the paths into buildings. Choose alternate routes when necessary.
  5. Ask for help.  Ask someone to help you navigate slippery or unsafe paths.
  6. Concentrate on the path ahead. Take your time and walk slowly and deliberately. Try to place each foot flat on the ground with each step.
  7. Wear appropriate footwear. Wear shoes or boots with rough-textured soles that provide good grip in all kinds of weather conditions.
  8. Avoid carrying items. Wear gloves if necessary to keep hands free for stabilization and balance.
  9. Use handrails when they are provided. Holding securely to a handhold can prevent a fall if you should slip.

Safety Tips for Seniors Living Alone

Of women over the age of 6, 32% live alone live alone. Here are some practical tips to keep safe when you live alone!

1. Keep and Maintain an Emergency Kit

2. Invest in Medical Alert Jewelry

3. Avoid Slips and Falls

4. Manage Your Medications

5. Protect Yourself from Break-ins and Burglaries- have a home inspection by a security company, and invest in a home alarm system for the best protection.

How to Make Your Home Safe, as a Senior

Senior Citizen Safety: Self Defense & Personal Safety Tips

Seniors Living Alone

Courtesy of

2018 Retirement Tips!

Enjoy your retirement, plan well!

Start with well-defined goals, and revisit them at least annually. The closer you get to retirement, the more often you should sit down and think about your overall retirement strategy. In Ernie Zelinski’s “How to Retire Wild, Happy and Free,” the author makes the argument that setting your retirement goals expands far beyond managing your finances. Retirement planning should encompass all areas of your lifestyle, from where you live and where you travel to how you spend your day and what truly are your income requirements.

Many people get great satisfaction from work. So, if you are retired, and you like to work, pick something you like to do and gain emotional satisfaction from that activity. This includes working for charitable causes, hobbies, family involvement, etc. Many people derive emotional satisfaction and self-worth from working.

Think about your largest asset. Hint-it’s probably your home! Will you sell it, downsize, keep it, perhaps take advantage of a reverse mortgage. Talk to your financial planner about all of these options. This is one of the most crucials decions you can make in your golden years.

Another aspect of retirement is lifetime learning. Staying relevant in today’s technology economy requires a willingness to learn and adapt. Consider this: most medical professionals would agree that 20% to 30% of medical knowledge becomes outdated after just three years.

Budgeting is more than setting a top-line spending number based on a pre-arranged percentage. Often times, we work from the bottom up, exploring what a client actually spends, instead of what they think they spend. It is not uncommon for individuals to drastically underestimate their spending on non-essential items.

Let’s consider income. Retirement income can come from many sources. Social security, pensions, retirement accounts, annuities, dividends, even earned income.

Take the time to go through your employment history and discover what benefits you may have forgotten. Did you perhaps forget that you have earned an pension from an employer fromt decades ago? . Inheritances? By investing the inheritance along the same lines of a retirement asset and creating a lifetime income stream.

Invest for your whole life. Just as your budget is not going to be static during your retirement years, the idea that your investment portfolio should never change is obsolete as well. We live in a world of massive disruption and change. Years ago, retirees would abide by the rule taking 100%, subtracting their age, giving them the “appropriate” allocation to the equity market (blue chips only!). Today’s world does not permit such simplicity of thought.

Successful retirement comes down flexibility. Flexibility of goals. Flexibility of income streams. Flexibility of spending. Flexibility of retirement investments. Flexibility of the overall plan. As you design your retirement plan, take the time to build in flexibility. It will help build peace of mind, and lead to a more successful retirement.

Nick Ventura is the founder and chief executive of Ventura Wealth Management.

text courtesy of

Retirement in the News

Tens of millions of Americans have set little money aside for retirement, battered in recent decades by one financial crisis after another and adrift in an economy that has gradually shifted the burden of saving almost entirely on employees. Now they can point to another impediment: The U.S. government.In only the most recent example of actions by Washington that hinder saving, the Treasury Department last week moved to cancel the myRA program, a “starter” retirement account that came into existence barely two years ago. Earlier this year, meanwhile, Congress rolled back a rule that made it easier for states to create their own publicly run retirement accounts. Some experts also worry that a new Lab

Learn more about Reverse Mortgages in Pensacola, Destin & Ft Walton Beach!

or Department rule that requires financial advisers to act in their customers’ best interest is on the chopping block.It is

In the meantime, what’s a retirement saver to do? People with access to financial services can look for those that hold themselves up to higher standards. For those workers without access to a 401(k) — whose ranks, thanks in part to the growing “gig economy” — are only increasing, the challenge is greater. Retirement rights advocates hope that state-run public plans will prove popular enough to one day go nationwide.

In the absence of that, many Americans will have only Social Security to rely on.


It seems like every week I see another survey about how ill-prepared the baby boomer generation is for retirement. Here’s the latest from Alessandra Malito of MarketWatch:

Baby boomers, or those born between 1946 and 1964, expect they’ll need $658,000 in their defined contribution plans by the time they retire, but the average in those employer-sponsored plans is $263,000, according to a survey of 900 investors by financial services firm Legg Mason. Older boomers, who are 65 to 74, have an average of $300,000.

It’s hard to paint such a wide brush when we’re talking about 74 million people or so but these stats seem to match up pretty well with a wider data set from the Federal Reserve:
read more at: Where did baby boomers go wrong? (MarketWatch)

Here it is: Early retirement charted out for you. At some point in time everyone has probably thought it would be nice to retire early and wondered what it would take. Well, I’m going to show you a simple chart that tells you exactly what it requires.

Retirement isn’t dependent how much you make

The amount of income you earn isn’t the largest factor in how long it will take for you to retire. Someone who earns $100,000 per year but spends $100,000 – or more likely $105,000 – isn’t going to get to retire any earlier than anyone else.

But someone who makes $50,000 and lives off $25,000? Well, that person will likely be able to retire early.

It’s about how much you save

See, it isn’t what you make, but what you save. Specifically it is how much you save as a percentage of your take-home pay.

If you earn $50k in annual salary but live off $25k, two things happen:

  1. First you’ll need less total money to retire. You don’t need to replace $50k of spending in retirement – only $25k. So your target retirement balance will only need to be half as large as someone who spend their full salary!
  2. Secondly, you’re able to put a LOT of money into the retirement account. Compare to someone saving 10% of their salary – fairly common “expert” guidance. By saving 50% of your income in this example, you can retire in 1/5th the number of years it would take the 10% saver!

So your investments will grow faster through larger contributions, and the target will be lower. That shortens the time you have to work before retirement.


Another consideration when planning your lifestyle savings, is to ne sure you contribute your income towards paying down your largest asset, your home. In this case, when you need money, a reverse mortgage HELOC will be all you need to do.

Your Retirement Pool

The obvious problem is you are spending the money you need for retirement on your children. Even if you plan to continue working in retirement, you don’t have long to make back that money. Plus, that time period is often shortened as workers can be forced into retirement earlier than expected due to illness or other unforeseen circumstances. But even more significant than the money you lose by giving it to your children, is the compound interest you forego. If you invest $10,000 in the market today with an 8% return, in 20 years you’d have $46,610 (not including inflation). So, if you give your child $10k today, you are actually losing much more than that. Next time they ask for money, use the Bankrate calculator to see how much you’re actually sacrificing.

So you’re killing your retirement, but at least you’re doing what’s best for your children. Nope. The intent is good. We love for our children, and our instinct is to do whatever possible to take care of them. While we can (and should) always support our children emotionally, there comes a time when financial support has a negative impact. In moderation, a little assistance during a tough time, or to help better themselves can be positive. Bad habits are created; they become entitled and learn they do not have to work for their money. More importantly, they don’t learn how to fail. It goes back to what we teach them as children: there are consequences for their actions, and they can learn from their mistakes. This still holds true as an adult. Failure builds character, makes us stronger and more adaptable.

The take-away, pay down your first mortgage to prepare for retirement! The specialists at Seniors Reverse Mortgages are here to help you make wise decisions when its time to get the money out of your nest egg home! Call us today.

Seniors are at the perfect time of life to still experience all the joys of travel. Here are a few of our favorite tips to enjoy your summer vacation trips.

  1. Make a Plan
    When you are away from home, samll things can turn into big things quite fast! Plan ahead if you have special  medical needs  or specific physical requirements, such as a need for ramps or first floor accomodations.
  2. Manage Your Meds
    When you are out-of-town, getting a prescription refill can be quite a chore. Be sure you’ve got your medications in plenty supply before you leave home.
  3. Call Ahead
    Many airlines, hotels, cruises and other vacation destinations have special accommodations for seniors. Early boarding, better seating, transportation from gate to gate and even special discounts are often available. Call ahead to make arrangements so you never have to wait or wonder when it’s time to go.
  4. Mind Your Travel Time
    Six hours in a car can be a long time to sit! Be sure you plan for stops to stretch your legas and walk around a bit. Try and schedule non-stop flights, airports can be huge, and changing flights can be an exhausting proposition.
  5. Keep Your Schedule Light
    eep your schedule open.For example, schedule your morning for a tour or excursion, followed by a long afternoon by the pool or playing games indoors. Or even  take a whole day to do absolutely nothing! You’ll still enjoy your vacation without feeling run-down halfway through your time away.

to read more visit:

Stay Healthy While on Vacation

Here are some tips to keep up with your healty routines while away from home!

Pack Low Sugar Bars

“Many people underestimate how dehydrating a plane can be, and this dehydration can turn into excess hunger later,” Minchen told Medical Daily. “Traveling with some protein sources and a full liter of water can help prevent dehydration and fatigue, as well as excessive hunger and overeating later.”

Snack Every Few Hours

Unlike a plane ride, traveling by car allows you to not only bring more food, but more options as well. Minchen recommends having a snack every 2-4 hours. She advises to focus on portable protein sources including Greek yogurt, sunflower or pumpkin seeds, jerky, and flax crackers.

Eat Balanced Meals

Once you arrive at your destination, it can be tempting to eat large portions. This is especially true if you’re vacationing at an all-inclusive resort filled with multiple buffets that seem to have endless options.

Healthy eating enforces activity and vice versa.

Stay Active

Usually on vacation, you have activites planned which will give you a lot of  opportunity for physical activity. If not, then just taking some walks will suffice.

Drink Lots Of Water

Although its tempting to grab a softdrink, or even a harder version, like an afternoon cocktail, be sure to stay hydrated by drinking lots of pure water. Some vaction destinations do not have safe local drinking water, so in those cases, be sure to buy enough bottled water to see you through your stay.

Read more at:

Retirement & You

 Are you worried about retirement because you have not saved enough for retirement? There is no such thing as a bad time to get started. Examine your financial situation carefully and determine the maximum amount you can invest each month. Do not be concerned if you think it should be.

While you know you should save quite a bit of money to retire with, it is also important to think about the kind of investments you should make. Diversify your portfolio and make sure that you do not put all your eggs in the same place.

Reverse Mortgage

For many retirees, taking out a Reverse Mortgage is the perfect financial solution, leveraging the home as an asset makes a lot of sense for many people. Seniors Reverse Mortgage can help you make the right decision, call them today at 800-561-1552.

Social Security

Depending upon whom you follow i the news, Social Security either will be there for you, is in trouble or may be around but in a different system. What is for sure is that more folks collecting a benefit for a longer period will put a strain on the system. There are already discussions about raising the current full retirement age from 66 or 67. Consider waiting a few extra years to take advantage of Social Security. This will help you will draw each month. This is simplest if you’re still working or have another source of income.

Many people think they will have plenty of time to plan for retirement. Time does have a way of slipping away faster as we get older.

Think about getting a long-term health plan. Health generally declines for the majority of folks as they age. In some cases, such a deterioration of health escalates health care costs. If you have factored this into your plan, you won’t have to worry as much.

Downsizing is the name of the retirement game. Things happen, no matter how well you have planned out your future. It is best to have “extra” money available each month.

Set goals for the long and long-term. This will benefit you to maximize your efforts to put back money. If you plan out the amount you need, then you’ll know the amount you must save. Some simple math can help you figure out monthly or month.

If you are 50 years old or greater, you can catch up on IRA contributions. There is a $5,500 that you can save in your IRA. When you are over 50, the limit goes up to $17,500. This is particularly helpful to those who started saving for lost time when it comes to retirement savings.

Consider a long term care health plan. Health often declines as people age. Medical bills can often add monthly expenses that were not originally planned for. By planning for long term health care, you will be able to be taken care of should your health deteriorate.

Pay off your loans that you have as soon as possible. You will have an easier time with your car and house payments if you get them paid for before you truly retire. The less money you need to put out on basic bills, the more you will be able to enjoy your golden years.

Working Longer

We are already seeing some people work longer or move to “encore careers”.  For many, its a chance to explore a hobby-ralted business, or some people just want to stay active. Others work because they need the money. Not only does working longer bring in immediate money; it can help delay the need to tap into your retirement fund, allowing it to keep growing.

You know what they say, 60 is the new 40! Are you ready for retirement? A lot of folks we work with have asked for some ideas on how others have made their retirement the best it can be. We scour the internet for the best articles and bring you the highlights here, along with the latest news on Reverse Mortgages.

Today we are pleased to have fellow blogger Ben Davis of Cents to Retirement share some money saving tips that just may help you have the funds necessary to retire early.

Saving daily

The most important way you can save money is on your day to day expenses. I have published an extensive list of saving tips and techniques on my blog, but I would like to explore a few of those points in more detail. You’d be surprised with how much money you can save by simply turning the lights off more often or take a walk to work instead of driving there (when possible). However, the following techniques are something that work better at a more structural level:

  • Cash out the money you’ll need for the week / month and leave your card at home. Do you know that people, in general, are way more reluctant to spend cash than money on their cards? Here’s what I did when I started to save aggressively: every Sunday I would cash out the money I needed for the week, from an ATM, and hold the cash throughout the week. Of course that it was very important to have a list of products I needed to buy and how much they would cost.  
  • Write down ALL your expenses. OK, so using a brain trick that makes you hold onto your cash in a more effective way won’t do the complete trick unless you know exactly where you’re spending your money on. I use to write down my expenses and kick myself when I spent money that I felt was not worth spending. Today I actually look at it differently – I ask myself how much happier will I be if I spend that money. Either way, it was effective: I found myself spending money on one or two products once and once only. I’d kick myself so much that I would naturally reject to buy the same thing again when I came across it.
  • Convince yourself you’re spending more money than what you actually are. I would actually come home and through a few bucks to a bucket. Because I knew that I could only live off of the money I had in my wallet (as I didn’t allow myself to use cards), I had to be extremely effective in managing my money. This has helped me saving thousands of dollars over the years.

These are tips that can be used by many people, regardless they make 30k or 300k.

On – By Paul Vachon

Happy Thanksgiving

From everyone here at Senior’s Reverse Mortgage, we are wishing you a Happy Thanksgiving surrounded by friends, family, and delicious food!

Senior’s Reverse Mortage will be closed Thursday the 24th and Friday the 25th. Business hours resume as usual on Monday the 28th.

Reverse Mortgages Improve Your Lifestyle!

Reverse Mortgages Improve Your Lifestyle!

Retirement should be a stress-free time of your life, enjoying time with children, grandchildren and traveling to all of the places you’ve dreamt of. However, sometimes that isn’t feasible… until now. With a reverse mortgage, you are able to live the stress-free lifestyle and we at Senior’s Reverse Mortgage are here to help make this type of living a reality.

What are the benefits of a reverse mortgage?

  • You’re able to keep the title of your home. – The lender will not own your home, you will keep the ownership of your home. However, reverse mortgage will simply put a lien against your property.
  • Additional income for stress-free living. – With a reverse mortgage loan, you do not need to worry about a monthly mortgage payment. You can receive your money in a monthly payment to increase your income or in a lump sum.
  • Social Security and Medicare income aren’t affected. – Keep all of your benefits and use a reverse mortgage loan as additional income to offset cost of living, add funds for vacations or other expenses you may have.
  • Mortgage is paid back upon selling or leaving your home!

If you’re ready to take the steps towards a reverse mortgage, please give us a call. Our team is here to walk you through every step of the way and will answer any questions you may have. It is time to start living the retirement you’ve always dreamed of.

Financial advisors are now promoting more and more the value of a reverse mortgage. When applying for a reverse mortgage, keep in mind that you have two strategies: a line of credit or taking a lump sum. Advisors are increasingly seeing the line of credit as an option due to the fact that it could be used in several ways as the needs arise. A lump sum is also a popular choice but should be carefully considered as to relieve debt and not create more. For more information on the math behind the reverse mortgages, visit this publication.