[Boomer]

Kiplinger has a special issue on the stands right now. It is called Retirement Planning 2009 and says Fall 2009 as the pub date.

Today, I looked through it and found a lot of good articles. Topics include Social Security, Roth Conversions, Long Term Care Insurance, Searching for Health Insurance, Pension Safety, Medicare, How to Judge a Financial Planner, and a whole bunch of other things that you may find are topics of conversation lately when you hang out with your age group.

I found the format to be friendly. Articles are nicely laid out on the page. I tend to notice how pages look. I just love those little boxes on the side of articles that have quick facts in them.

One of the things I was glad to see was the article on reverse mortgages. The article is titled "Reverse Mortgages Just Keep Getting Better and Better." I think that title is a little much. I think people who may consider reverse mortgages have to be really, really careful.

While a reverse mortgage can be helpful under certain circumstances, there are scams associated with them sometimes. The article says to rule out any lender who tries to push the borrower to buy other financial products with the proceeds of the reverse mortgage.

If you have elderly parents who are still in a home that they own free and clear, please be aware of any interest in a reverse mortgage. Reverse mortgages can be fraught with expenses and problems. Reverse mortgages can work out fine, but borrowers must know what to watch out for. Borrowers must have a clear understanding. Just like with anything else associated with their money. But we know that does not always happen. This article gives good advice on how to navigate reverse mortgages.

Anyway, here is some investment advice. -- Invest $5.95 in this special publication, Kiplinger's Retirement Planning 2009. You will probably learn at least one thing, maybe more. It's on the magazine stands right now. It has a couple on the cover who look way too young to retire. They are both wearing white pants and she is carrying a picnic basket. They look happy. (Maybe the picnic basket is full of money.)

Boomer

[JohnN]

Kiplinger has good stuff, always does. Sometimes, after a year or so, it gets somewhat repetitive, but it's always a good read and reference. Thanks for the reminder.

[Virginians]

Thanks for the post Boomer. I was hoping to find something new but agree with JohnN, not much has changed over the past year. It is a great read and a great reference to have on hand. It has helped me explain some ideas to my wife. One thing has changed dramatically but was not mentioned. The limit on reverse mortgage home value was increased last Nov. to $625,000. Our plan was to sell our VA. Home than take out a reverse mortgage on a home in the Villages which would add $600 per month tax free income to our budget. Although interest rates aren't as good as they were a few months ago there seems to be an increase in the principle limit for HECM Fixed . I am now considering a reverse mortgage that would pay off my present mortgage and buy a house in TV. No payments. Estimator. https://www.benefits-mortgage.com/ca...o?linkType=mps My concern now is the home appraisal. I would like to get my own appraisal first so that I can shop lenders. This may not be allowed. Any advice?

[Boomer]

On the topic of reverse mortgages, I don't have any personal experience with them, but I am one of those people who likes to read financial advice. 'tis an affliction of sorts, I do believe. And mortgages have interested me for a long time.

Here is the link to the government site that goes into detail on HECMs (Home Equity Conversion Mortgages) a.k.a. reverse mortgages.

http://www.hud.gov/offices/hsg/sfh/hecm/hecmabou.cfm

Boomer

[housefull]

Anyone using Edward Jones Advisory Solutions? I'd like to see what is said about the success.