Tag: home equity
Retirees spend $1,500 more per year, on average, for medical care after a diagnosis of a serious condition like lung disease or diabetes. Often, the solution for individuals who can’t afford such big bills is to scrimp on care or avoid the doctor altogether. But older homeowners can get access to extra cash if they…
Paying off the mortgage frees up a lot of money for other things. The homeowners in one study splurged on big-ticket items. Older homeowners, however, are adding another priority: medications. After a mortgage payoff, workers and retirees ages 50 to 64 spent 50 percent more on prescription drugs in a comparison with households who had…
