Norm McBee with Coldwell Banker Legacy

Norm McBee with Coldwell Banker Legacy Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Norm McBee with Coldwell Banker Legacy, Estate agent, 10400 Academy Road NE #100, Albuquerque, NM.

04/17/2018

Seniors’ Growing Debt Casts Retirement Doubts
DAILY REAL ESTATE NEWS | MONDAY, APRIL 09, 2018
Many older Americans may be concerned about having enough money to cover their expenses when they enter retirement, as 41 percent of homeowners ages 65 and older are still carrying mortgage debt, according to 2016 data from the Harvard Joint Center for Housing Studies. The percentage of older adults who are still paying off their mortgage while in retirement has steadily increased over the years.

Some may turn to reverse mortgages, which allow homeowners to withdraw equity from their properties. But financial experts warn retirees to talk with a professional to determine whether that is the best option for them. Nonprofit housing counselors may also be able to help discuss options. The U.S. Department of Housing and Urban Development publishes a list of certified housing counselors by location.

The percentage of families in which the head of household is 75 or older and carrying debt grew by 60 percent between 2007 and 2016, according to the Employee Benefit Research Institute. In 2016, nearly 50 percent of such families had debt; the average debt was $36,757. Meanwhile, the average monthly Social Security check is $1,404, and more than 40 percent of single adults receive more than 90 percent of their income from Social Security alone, according to government data. Many may find Social Security payouts aren’t sufficient to maintain their lifestyle and pay off debt.

“To pay off the debt, you’re going to have to give up some living standards,” says Craig Copeland, a senior associate with the Employee Benefit Research Institute. For some homeowners, that may mean having to relocate to a place where the cost of living is less expensive. “They may be able to move into a retirement community, where there may be a better social aspect than living in a house in the suburbs with a bunch of young people,” Copeland says. “Or they may have to move in with a relative or friend to share living expenses.”

Source: “Growing Debt Among Older Americans Threatens Their Retirement,” CNBC (April 4, 2018)

03/26/2018

WOODEN WONDERLAND-HOW TO ACCENT YOUR SPACE WITH WOOD: Love that glossy wood floor, exposed beam ceiling look? You're far from alone. Wood is a wonderful, natural way to add earthy elements to your living space. If you're looking to add even more wood to your interior design scheme, consider a few of the following.
Countertops. While real wood countertops may be more difficult to maintain, their gorgeous look in your space may make them worth it. Shop around with your local counter conveyor, or hire someone to create a custom job.
Ceilings. Wood ceiling panels or planks can be a great way to add a rustic, farmhouse touch from above.
Art. From wall hangings to sculptures, there is no shortage of wood art. Hit up Google to find a few pieces, or for more original work, call up your local gallery.
Accents. Wood lighting fixtures, wood coasters, wood vases or plant holders, wood-framed mirrors and more. The options are quite literally endless when it comes to spreading wood accents around your spa.

Address

10400 Academy Road NE #100
Albuquerque, NM
87111

Website

Alerts

Be the first to know and let us send you an email when Norm McBee with Coldwell Banker Legacy posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Norm McBee with Coldwell Banker Legacy:

Shortcuts

Share

Category