Jean Folger

After years (or decades) of dutifully paying down your mortgage, you have likely built substantial home equity. And if you’re like many retirees, you might be house rich, cash poor if a big chunk of your net worth is tied […]

Many homeowners refinance their traditional mortgages to obtain more favorable terms as they pay down their home loans. However, it’s also possible to refinance a reverse mortgage—a loan that lets older adults tap into their home equity without selling or

There are many advantages of saving your money in a Roth IRA (individual retirement account). The most significant ones are the tax benefits. Roth IRAs offer tax-free growth on both the contributions and the earnings that accrue over the years,

Roth IRA Income and Contribution Limits for 2024 Filing Status 2024 MAGI Contribution Limit Married filing jointly (or qualifying widow(er))     Less than $230,000  $7,000 ($8,000 if age 50 or older)   $230,000 to $240,000 Begin to phase out   $240,000

Roth individual retirement accounts (IRAs) provide after-tax contributions that grow tax-free until you begin making withdrawals during retirement. These withdrawals aren’t taxed as income. But some rules apply to these withdrawals that don’t apply to traditional IRAs and 401(k)s. Roth

Alternatives to a reverse mortgage include home equity loan, home equity lines of credit, and cash-out refinances. These financial products can help you tap the equity in your home to use as cash for other purposes. Learn more about the

How much will you need to retire and will it be enough? A survey from Schwab Retirement Plan Services found the average 401(k) participant thinks they’ll need $1.8 million to retire. Many people in the U.S. aren’t investing enough to

If you’re traveling to the U.S. and plan on arriving in Los Angeles (LA) at LAX airport, you’ll likely need U.S. currency for cash purchases, such as a coffee or bottle of water. If you’re traveling abroad from the U.S,

The contribution limit for individual retirement accounts (IRAs) for the 2024 tax year is $7,000. If you are 50 and older, you can contribute an additional $1,000 for a total of $8,000. This includes contributions for both Roth IRAs and