Retirement

by Ken Updegrave

The events of 2020 have left almost all of us shaken and concerned about our financial futures. Whether that is due to an unexpected job loss or fear of having to postpone a planned retirement due to market volatility, these concerns are all very real to you. When you are preparing to make a big move, like beginning retirement or a new home, uncertainty impacts your decision making on many levels. Do we currently feel confident that we can safely make the moves we want to make to live the lives we want?

These decisions might impact the safety of our health and wealth during a period of rapid change. The financial markets have largely recovered, and home prices in most areas are continuing to increase. That might give you either comfort or pause. No matter which way you view current conditions, if you are getting prepared to make a move, you realize housing is going to be a significant portion of your retirement costs. That is the case whether you are looking to fund it from your accumulated equity immediately or by financing it with your retirement cash flow over time. That de- cision can be critical in being able to live the lifestyle you want and be able to navigate the inevitable bumps in your retirement plan. If you aren't aware of all your options and know that you can pay cash for your home or take out a monthly mortgage payment, you may be missing an opportunity that could be life-changing for you.

There is another loan program available that many people have never been made aware of that is designed exclusively for you, the home buyer that is better than 62 years of age and buying their primary residence. This loan requires a one time down payment that is based on the youngest buyer's age and current interest rates but is