I’m 69 with $300K in savings but I’ve got a $250K reverse mortgage causing me serious stress. Should I just use most of my savings to pay it off ASAP and aim to survive on Social Security?
Imagine this scenario: Samantha is retired at 69, but a few years back she took out a reverse mortgage. Now, she’d like to be done with it, especially since the loan comes with a hefty interest rate of 6.75%. She currently has about $375,000 in home equity while her reverse mortgage loan is close to […]
‘Don’t blame that on the Holy Spirit’: Dave Ramsey urges Missouri woman to instantly liquidate her $60,000 crypto portfolio to pay off debts — but she says she’s waiting for a sign from God
We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links. Arabella from Springfield, Missouri called into “The Ramsey Show” because she was facing a financial fork in the road. With about $60,000 in cryptocurrency, $14,000 in student loans and […]
This Vietnam vet, 84, was forced to sell her ‘dream’ retirement home after new owners jacked up monthly costs from $1,395 to $6,500 — how she lost out on $100,000 and a warning to seniors
Many seniors across the country would consider their senior living community a safe haven. But for some, these properties turn out to be money traps right when their personal finances are most fragile. Martha Bray, an 84-year-old Vietnam veteran, found herself trapped in such an unfortunate situation. After 10 years of living at River Glen […]
‘I thought I was getting somewhere’: New Jersey dad bought his daughter a $959 iPad — but when she unwrapped the gift, the box was empty. And that’s when his real headache started
Pete McCollum wanted to surprise his daughter with a top-of-the-line iPad Pro for Christmas. But when she unwrapped the $959 gift, she was shocked. “On December 23rd, I gave my daughter the gift, I gave her the box. She opened [the packing box] and opened the Apple iPad Pro box, but it was empty,” McCollum […]
Smart car shopping in retirement: What to consider before buying a vehicle on a fixed income — from budget tips to choosing the right features for your lifestyle
You’re enjoying your retirement years, taking the occasional road trip to spend time with friends and family. But your car has seen better days — nearing the end of its life at 200,000 miles. Since you haven’t purchased a car in a long time, you may be surprised at how much vehicles have changed — […]
‘It’s not safe’: This Houston couple says their brand-new home in a gated community has become a mold-ridden uninhabitable nightmare — now they’re left in an ‘unfathomable’ position
When Angela and Terry Taylor of Houston moved into a four-story home in a gated community in 2020, they thought it would be a safe, low-maintenance environment where they could ease into retirement. Instead, things started to go wrong almost immediately. The Taylors noticed condensation on the windows and doors. Angela began to feel ill. […]
‘Too old to be having these problems’: Cincinnati mom left ‘confused’ after partner walked out on her when they found out she was pregnant — so Dave Ramsey helped her build a ‘baby budget’
Johi called into the The Ramsey Show from Cincinnati, reeling from a week in which her boyfriend of 14 years deserted her — right after she discovered she was pregnant with their second child. “He was just not ready to take on that responsibility, so he left,” she said. They already have a 12-year-old child […]
Americans of all ages are suddenly cooling on Florida — and this 1 hot spot has been hit the hardest. 3 reasons this once trendy city is seeing ‘the biggest slowdown’ in new residents
Florida has long been a magnet for Americans looking for a better life. Low taxes, affordable housing, a low cost of living and pleasant winter weather have made it a popular move — and not just for retirees. Young people seeking economic opportunities have come in search of jobs in technology, health care and tourism […]
Connecticut couple issued $111 fine for allegedly using a toll road in a state they hadn’t even visited in 5 years — what you need to know about the ‘ghost car fraud’ scam plaguing US drivers
Cruising in their classic 1966 Ford Mustang was one of the joys of retired life for Mary and Dan Smith, but that joy took an unexpected turn when they received a fine for an alleged toll they never paid. That fine was for the New Jersey Turnpike, a toll road that the Enfield, Connecticut couple […]
I’m 58 and plan to retire in 5 years with a portfolio worth $2.5 million. I expect annual dividend income of $80K but worry this strategy too risky
Close to retirement with a nest egg of more than $2 million? No wonder you’re thinking about retiring! To put this in perspective, you’re 58 years old with a $2.5 million saved in an investment portfolio — this is more than four times the savings for the average Canadian. According to Statistics Canada, the average […]