Entries by Julie A. Colangelo

The Advantages Of Downsizing When You Retire

The obvious ones: Less upkeep Lower utilities Less cleaning Less junk in the garage Lower expenses means more cash on hand Road blocks: Capital Gains ($250,000 exclusion for single and $500,000 exclusion for married check with your tax professional) Veteran’s benefits (health etc.) Medicaid (if there is any equity or gain in the home while […]

Why is there a Retirement Income Problem?

The reality of our world today and traditional financial thinking just doesn’t work anymore. I read a pamphlet by Leonard A. Renier a Financial Planner, The Family Legacy, and he asks the question “what in the last several years has the financial services industry done to improve the lives of the average American”?  He is […]

A Housing Solution For “Gray” Divorce Clients

Demographic studies reveal that Baby Boomers currently aged 52-70 have the highest rate of divorces and 2nd marriages.  Some of those baby boomers have delayed divorcing until their senior years. “55% of couples were married more than 20 years” according to a report by Susan L. Brown and I-Fen Lin, sociologists at Bowling Green State […]

Got Credit?

Tips to Maintain and Increase your FICO Score If you’ve had some credit troubles in the past not to worry there is an easy fix.  The “fix” will take effort, consistency, and time.  With these actions you can increase your credit score in as few as 6 months. FIRST LET’S BREAK DOWN YOUR FICO SCORE […]

Do You Really Understand Your Loan Modification?

I talk to so many people that have accepted loan modification terms, but really don’t understand the nuances.  Those “nuances” are the terms, and can be quite a shock when the term ends. Granted, not all loan modification are the same; however if you have a loan modification look at it carefully, or ask Jerry […]