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Think About The Future And Retire Early

Tough times are coming for people close to the age of retirement. The age limit in Australia and generally around the world is getting higher and higher. The Australian Government is running a plan in which by 2025 the age limit required for a person to retire will be 70. This is simply madness, but it is what it is and it's best for everyone to be prepared instead of losing their mind. An early retirement is something that very popular nowadays and people always think about easier ways to retire before the standard age to get the government pension. The reasons are obvious, the first one is what we already mentioned in the first paragraph, and the second most important reason is that pensio

Is it True That Banks Don't Give Loans for The Elderly?

A lot of people faced this problem when they needed money. Banks are simply having second thoughts when they need to give out loans to senior citizens. This is somewhat unfair, a whole group of people being discriminated because of their age, but it is what it is, senior citizens just can't get a standard loan from a bank. Based on this first paragraph, you'll probably think that as a pensioner, you can't get a loan from the bank, right? Well, the answer is not just yes or no. Yes, you can't get a standard loan if you have reached a certain age, but no, it is not true that there are no loans for the elderly. Knowing that the elderly also need loans sometimes like the rest of the population a

Sale And Stay Benefits

Maybe you have, maybe you haven't heard about the popular sell and stay deal, but if you need money and you're planning to sell your house, apartment or other property, this is the best option there is right now. There are many sale and stay benefits and in this article, we'll talk about some of them. The best part of the deal, of course, is the large amount of money you can earn by selling your place. Real estate is always pricey and even a small flat can make you a lot of money. A big house in a nice urban area will make you a fortune. Selling means you'll earn a lot of money that you can use for many reasons. Closing debts, investing in businesses or simply love for travel and going aroun

ASIC urges seniors to consider alternatives to reverse mortgages

AUSTRALIANS approaching retirement are being urged to consider alternatives to reverse mortgages, after an Australian Securities and Investments Commission review found many borrowers were using them without understanding the risks. ASIC spokesman Michael Saadat said a reverse mortgage could affect aged care access later in life. “If consumers borrow too much at the beginning, the effect of compound interest and uncertain property prices means there is a risk they end up with insufficient equity or none at all,” Mr Saadat said. Reverse mortgages work by allowing homeowners to borrow money using the equity in their home as security. The loan can be an upfront lump sum, a regular income stream

Great Business Idea And no Money - Here's What to do

Sometimes we get the best ideas in life but there's really little chance to put those ideas into practice. The reason in 99% of the cases is well known - money. It's the 21st century and everything is revolving around money. Starting a business is depending on a good idea, organization, but most of all, a large amount of cash that you will invest and get the wheels going. In order to get the money, most of the time people are turning to banks. Banks are giving loans to people who are about to start their own businesses. This seems like a good solution but if you've never asked for a loan from a bank, then you don't know what are the terms that the banks will give you the loan at. You might l

How to Terminate Debts

It's not easy living a life with debts. Once you get into debt trouble and ignore the fact you're owing money, the problem only deepens. Before you realize you need to do something, things get too complex and so hard to handle that it almost seems impossible. However, nothing in this world is solution-free, and getting out of debts is also something that is solvable. So, how to terminate debts? First of all, you need to make a list of both your earnings and your spending. The first moment you finish it, you'll surely see that the column with spending is much longer than the one where your income is written. This is normal, of course, if it wasn't like this, you won't be in debt. The second s

Should I Let an Agent Sell my House?

Many people struggle with selling their property. They think it's an easy job but in reality, it never is. Selling a house or any other type of property is really hard unless you want to sell the place for a price that's way lower than the value. If you're facing this problem, you need to ask yourself before you begin anything - is it better to sell on my own, or should I let an agent sell my house? To answer the question we need to understand all the details about both options. They both have pros and cons but some of them are more important than others. Most people think that giving money to real estate agents is just wasting money. Let's see if this is true? Agents charge by percentage of

What is Reverse Mortgage Good For?

A reverse mortgage is a type of loan that is specialized for the elderly. What is it, and what is reverse mortgage good for, we'll learn in this article if you carry on reading. The reverse mortgage is a special type of loan that banks give to senior citizens. Senior citizens are not eligible for regular loans because of their age, but the banks have found a way to fill the requirements for both parties. The elders are getting a loan and the banks are getting their money protected. How? Here's how! The banks give the money to the person asking for a loan but under a few special conditions. Besides the age that must be over 65, the senior citizen must have the property that can be placed unde

Banks Not Giving a Loan - Here's What to do

People are not eligible for a bank loan for many reasons. Sometimes it's not just because of inability to return the money, but more because of the age of the person. Banks not giving a loan to elderly people is normal because they don't see seniors as eligible to return the money in full before they pass away. Of course, it's not certain that people won't live until they return the loan, but banks simply don't like to risk and are not giving standard loans to seniors. However, old people can still get a loan, just not the standard one that other people get. Banks are calling this loan - reverse mortgage. How does it work? By simply placing a mortgage on the property the senior citizen owns.