Manage episode 279452931 series 1232333
Welcome back to the Retirement Rewind! I take the last part of the year off from podcasting to spend more time with my family. But that doesn’t mean that you miss out on your favorite retirement podcast. Actually, I have a treat for you today. This episode is so good this is the 3rd time I’m playing it. Press play to find out which retirement podcasts I listen to in my spare time and scroll down to the bottom of the page to find links to my favorite episodes of those podcasts.
On this episode, you’ll discover more amazing retirement podcasts to listen to. In addition, you’ll learn about the confusing world of reverse mortgages and whether you should plan for a 20% cut to your Social Security.Outline of This Episode
- [2:22] Do you understand reverse mortgages?
- [8:26] Will you be taking a 20% cut on social security?
- [12:46] Get retirement ready with my favorite retirement podcasts
I’m sure you’ve seen the ads for reverse mortgages before, but do you really know what they are? A study done on a focus group showed that most people thought reverse mortgages were a government welfare program. They didn’t realize that there were interest and fees involved and many thought that with a reverse mortgage they wouldn’t have to pay any more property taxes. Do you have questions about reverse mortgages?What exactly is a reverse mortgage?
Commonly known as a reverse mortgage, a Home Equity Credit Mortgage (HECM) is just like any other mortgage -- it has to be paid back. Reverse mortgages are sometimes taken on by people in retirement who are looking for a lifetime income.
A reverse mortgage works when the HECM calculates half of your home equity value and they set up a lifetime annuity based on that amount. Reverse mortgages can be complicated, so if you are considering one, make sure you read all the fine print.My 5 favorite retirement podcasts
If you’re listening to Retirement Starts Today you probably love podcasts as much as I do. I got into podcasting because I realized it would be a fantastic way to share my knowledge with a wider audience without having to be a writer. You may be surprised to learn that I have my own favorite retirement podcasts.
Learning to save for retirement can be kind of boring since all of us retirement podcasters are essentially saying the same thing. It’s the personality of the podcast hosts that really sets these shows apart from the rest. Here are 5 retirement podcasts that I love to listen to and learn from.
- Stay Wealthy with Taylor Schulte
- Retirement Answer Man by Roger Whitney
- Sound Retirement Radio with Jason Parker
- Stacking Benjamins by Joe Saul-Sehy & OG
- Retirement Repair Shop by Mary Beth Franklin
- BOOK – How to Use Reverse Mortgages to Secure Your Retirement by Wade Pfau
- Forbes article on reverse mortgages by Wade Pfau
- Washington Examiner article on Social Security
- Stay Wealthy Podcast
- Retirement Answer Man Podcast
- Sound Retirement Radio
- Retirement Repair Shop
- Stacking Benjamins
- Get the Retire-Ready Toolkit:http://retirementstartstodayradio.com/
- Follow Ben on Twitter:https://twitter.com/retiremeasap
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