The Charles Schwab Guide to Finances After Fifty: Answers to Your Most Important Money Questions by Carrie Schwab-Pomerantz & Joanne Cuthbertson

Author:Carrie Schwab-Pomerantz & Joanne Cuthbertson
Language: eng
Format: mobi
ISBN: 9780804137362
Publisher: The Crown Publishing Group
Published: 2014-03-31T14:00:00+00:00

• Lenawee County, Michigan—$50,150

• Adams County, Mississippi—$34,150

That’s quite a range! If you’re looking to save money on housing, check out the parameters for your own county at hud.gov, then do a local search. A quick survey of one northern California county came up with twenty-two options for low-income and senior housing.

Next Steps

• If you own your home, downsizing may be a good way to save on expenses and cash in on equity. Question 18 talks about the tax consequences.

• A reverse mortgage is another way to potentially boost your retirement income—but be cautious. See Question 26 for the pros and cons.

• Review your portfolio. Question 22 provides guidelines for investing during retirement.

• Create a cash flow. Question 23 offers ideas on which accounts to draw from first.

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