“My wife, 63, is retired and plans to take Social Security at age 68. At that time, we should collect about $55,000 per year combined from Social Security.” (Photo subjects are models.) – MarketWatch photo illustration/iStockphoto Dear MarketWatch, I am 67, still working and will take Social Security in January 2025. My wife, 63, is […]
In the personal finance subreddit, a user sought advice on a common dilemma many seniors face: selling their home or taking out a reverse mortgage. The user explained that their 73-year-old father struggles to pay off a $45,000 mortgage and a $15,000 HELOC, relying mainly on Social Security and a small pension. They mentioned the […]
“She can barely make her mortgage payment as all her income goes towards the house payment and living expenses.” (Photo subject is a model.) – Getty Images/iStock Dear Quentin, My mother-in-law, 75, has been married to her husband for almost 30 years. Most Read from MarketWatch They both have adult children from previous marriages. They […]
Payments on HELOCs can vary, but they typically depend on your interest rate and the amount of money you owe. TH YAPR / Getty Images Your home equity could be your financial secret weapon, giving you the ability to borrow a large sum of money relatively quickly. Moreover, when you borrow against your home equity […]