Government officials in Mesa County, Colorado, urged state legislators in an open letter this week to preserve a property tax exemption for older adults and disabled veterans amid the state’s ongoing budget constraints. Colorado’s senior property tax exemption, which has been in place for the past 25 years, cuts 50% from the first $200,000 of […]
Colorado officials push to save property tax breaks for seniors Read More »
The failure-to-launch trend that started with millennials is continuing with Gen Z, and many are turning to parents for assistance, according to a new column by Bloomberg. According to a 2024 Bank of America study, over half of adult Gen Zers reported that they don’t pay for their own housing. A separate study by Savings.com found
The bank of mom and dad can strain retirement Read More »
It’s no secret that low-income housing options are in short supply across much the country. And a report this week out of Fairfax County, Virginia, illustrates the challenges that seniors can face when trying to find subsidized housing. Fairfax County, which borders the District of Columbia and is home to about 1.1 million residents, is
In Northern Virginia, senior housing has a supply-and-demand ‘disconnect’ Read More »
In 2020, Arlene Kohen, an 89-year-old widow, moved into Harborside, a luxury continuing-care retirement community in Long Island, New York. She paid a $945,000 entrance fee and $5,700 per month, with Harborside promising to refund 75% of the entrance fee upon death or departure. But after struggling financially and filing for bankruptcy three times, Harborside
Housing market slowdown hits retirees long after they’ve sold Read More »
Tax-deferred retirement accounts are a necessary source of income for seniors looking to age in place. But it can be confusing to navigate the options for taking the required minimum distributions (RMDs) from the account as mandated by the IRS — especially given the tax implications. What’s the best approach for seniors as they plan
What’s the best strategy for seniors to take required minimum distributions? Read More »
For older people who wish to stay in the workforce, a layoff or buyout can radically change their financial picture. According to a recent report from The Wall Street Journal, it takes an average of 26 weeks for people ages 55 to 64 to find a job — seven weeks longer than people ages 25
Layoffs are blurring the retirement lines for seniors Read More »
Up to 2 million Americans could see their Social Security payments reduced by 50% in late July as the Social Security Administration (SSA) is cutting payments to recoup the billions of dollars it overpaid to some Americans in recent years. In April, the SSA announced that it would begin recovering about $72 billion in improper
Are seniors getting reduced Social Security or a tax break? Read More »
Growing fears of a retirement crisis in the U.S. are no secret as Americans face a future that potentially includes fewer Social Security benefits. But the uncertainty of Social Security is not the only thing that seniors should consider as they seek to safeguard their financial well-being. Over the weekend, The New York Times detailed
IRS stipulation could have consequences for seniors in a declining stock market Read More »
This week at The Gathering by HousingWire, reverse mortgages took center stage on Tuesday as HW Media CEO Clayton Collins welcomed two leading industry executives to the stage. Dan Ventura, the president of reverse mortgage lending at Fairway Independent Mortgage Corp., and Chris Mayer, CEO of Longbridge Financial, spoke in front of the assembled professionals
Fairway, Longbridge lead reverse mortgage presence at The Gathering Read More »
As it has grown more popular for older people to choose to age in place in their existing homes, this has become a challenge for the senior living industry. While dedicated senior living facilities can offer a sense of community and enticing amenities, the cost may often be out of reach for many potential customers,
How can senior living challenge aging in place preferences? Read More »
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