A reverse mortgage is a type of loan that allows homeowners to receive payments on their house as opposed to them making payments to the lender. At first glance, this option seems too good to be true. But, before committing to it, there are some nitty-gritty details that people must consider when opting for this type of financing.

Tax can be a very complicated financial aspect to understand. If you are planning to buy your first home, the downpayment is one of the major expenses to be borne that can be charged at 3% of the total purchase price on an average. The mortgage taken will include components like interest payments, closing costs, and other fees and charges as applicable to the transaction.

According to the National Council of aging, there are more than 10,000 citizens across our country who enroll for Medigap plans. The most confusing aspect about having a Medigap policy is, “Why does one need it when they already have a Medicare policy?” The answer to this is simple. Medicare plans do not provide coverage for every medical condition.

The standard of living has improved dramatically, and what was once deemed unattainable is within our arm’s length now. Call it evolution or simply an increase in the purchasing power that is conferred on us, we can actually buy that house we always wanted or the car that we spent crushing on in our teenage years, provided we have a decent credit score.

Money market mutual funds are a viable option if you want to invest extra cash in a relatively safe, low-risk deposit with liquidity. Through money market funds, your money is invested in high-quality debt for the short term. So, your money is comparatively safer than in mutual funds.  The best money market funds today offer decent expense ratios, a fair yield and are low risk as they invest in government-backed securities.

The market is filled with a plethora of credit card companies waiting to sell their product. They all provide prospective customers with the same kind of deals with respect to reward points and how it may be encashed. Prospective cardholders have options ranging from travel miles, gift cards, cash back on online portals, or maybe an extra percent of reward points on all purchases, where credit card companies provide reward points.