Dealing with being asset rich and cash poor Reverse mortgages could be one way to help with living expenses, but they may also erode any equity you have in your home over time. Given longer life expectancies, the rising cost of living and the property boom, more and more retirees find themselves asset rich and cash poor. One option is to downsize to a cheaper home, but this often has major disadvantages. If they are …
When life gets hectic – locking in financial stability when you’re time poor Feeling time poor and overwhelmed by your finances? Our guest contributor, James Trethewie Financial Planner AFP®offers some good advice on how can you manage your money better without putting a lot of time into it. Financial stress is definitely something a lot of us are living with at the moment. According to a survey from Financial Mindfulness nearly 1 in 3 Australians …
Reverse mortgages – A solution to the asset rich, cash poor trap If you’re a home owner who falls into the “asset rich, cash poor” category, a reverse mortgage could hold appeal in retirement. Over the next 40 years an estimated seven million Australians are expected to start living off their super savings, but many simply won’t have enough to enjoy a comfortable lifestyle. The benefit of a reverse mortgage is that you can access money to …
3 Credit Card Secrets That Banks Don’t Want You To Know Credit cards can be helpful on certain occasions, and yet, completely catastrophic on others as far as your financial position is concerned. Whether you are short on cash or in dire need of payment at a particular moment, credit cards can help you overcome such financial distresses without you having to break a sweat. However, there are several intricacies to the process that banks …
