Why You Should Pay Down Your Mortgage

Many in the financial services industry will advise you not to pay down your mortgage. I can’t disagree more. Why? Because a mortgage is essentially the inverse of a bond: Mortgage: borrowed money where you pay someone principal and interest. Bond: money you lend where the borrower pays you principal and interest.   It’s that simple. For example, the high-quality bonds I wrote about here recently, or bank certificates of deposit (CDs), will pay you roughly 2 percent. The average mortgage rate is about 4 percent. My conclusion …

More Grandparents Living With Grandchildren Work, Live in Poverty

The first U.S. Census Bureau report in more than a decade on grandparents living with grandchildren highlights growth and diversity, and confirms that, while the trend has slowed some as the economy recovers from recession, multigenerational living is not going away. Fully 10 percent of the estimated 65 million grandparents live with at least one grandchild, up from 7 percent in 1992. “Recent trends in increased life expectancy, single-parent families and female employment increase the potential for grandparents to play …

When Grandma’s Called to Take Over

Calling all grandmas, calling all grandmas, they’re after you again, the people who have babies but don’t or can’t actually raise them. You are being tested once more on your ability to care for the children of your children in an age that is altering the dynamics of family at the speed of a thunderclap. It is a warning gleaned from reports indicating that more and more grandparents are going to be called upon to raise their grandchildren, stirring the …

Tips for Empty Nesters on Selling the Family Home

Last spring Cathy and Gary Chester put their ranch home in Morris County, N.J., on the market. Come August, the house is unsold and Cathy admits that she’s enjoying another summer in the home that the couple built 21 years ago. What saddens her is the prospect of closing a chapter in her life. “This is where – young, married, pregnant with my son – I started a new part of my life that ends when I sell the house,” …

50+ Shopping: Do YOU fit the profile?

Our latest Getting to Know the 50+ fact sheet profiles 50+ Americans’ shopping habits in a couple areas. I decided to see how well our average American shopper matched up with my own habits. Car shopping Sixty percent of adults 50+ have two or more cars. This may come as a surprise to some, but not if you are in the car business. The 50+ are this industry’s “bread and butter,” as 63 percent of new cars in 2012 were …

Apartment Smokers: Would You Rather Switch Than Fight?

Imagine that you’ve been living for a decade in an apartment building for seniors. You’ve settled in, made friends and think of it as home. Now imagine that the building suddenly adopts a no-smoking rule and says that if you can’t or won’t comply with it, you’ll have to find someplace else to live. Like it or lump it. As the Cincinnati Enquirer tells the story, that’s what happened to Beulah Toombs, a resident of  the AHEPA 127 Apartments in …