Most of us save and plan for decades to enjoy the period of our life when we no longer need to go into the office and work an 8-hour day for a paycheck.

But even with those decades of hard work, it can be tough to save up enough cash to cover all your costs in retirement. Many soon-to-be-retirees face a shortage between what they saved for retirement and what they actually need to live on.

For homeowners, that may be a problem that’s relatively easy to solve. Tapping into the equity in your home can help you stretch your nest egg quite a bit further.

Use a home equity loan or line of credit. You can tap the equity in your home with a home equity loan or a home equity line of credit (known as a HELOC). A home equity loan works like most other loans: You agree to borrow a set amount of money, receive a lump sum, and pay that back with interest and in installments each month. A HELOC works a little differently, because it’s not a loan with pre-determined monthly payments. Instead, it’s a revolving line of credit, similar to a credit card. You usually have between five and 25 years to borrow against a certain amount of equity and repay (with interest) whatever you take out.

Use a home ownership investment. A home ownership investment is a powerful way to unlock some of the equity in your home without taking out a loan.

Consider a reverse mortgage. A reverse mortgage can allow homeowners 62 years or older to turn equity in their homes into cash in a way that provides them with the income they need through retirement. You can get your cash in a lump sum or in monthly payments, or in a line of credit. But it’s important to remember that a reverse mortgage is still a loan that comes with origination fees and interest charges. It requires that you have no other debt on your property, so if you have an existing mortgage loan, you will have to repay that in full from the reverse mortgage proceeds. You will also need to pay the reverse mortgage loan back when you move out of the home, sell it or pass away.

— Brandpoint


According to the Economist Intelligence Unit’s Worldwide Cost of Living Survey, the world’s most expensive cities to live in are:

1. Singapore

2. Hong Kong

3. Zurich, Switzerland

4. Tokyo, Japan

5. Osaka, Japan

6. Seoul, South Korea

7. Geneva, Switzerland

8. Paris

9. New York City

10. Copenhagen, Denmark


$0.97: United Parcel Service (UPS) recently announced the company will levy surcharges from 27 cents to 97 cents per package for individual and commercial customers in November and December to help pay for rising costs.


Amazon debuts Prime Wardrobe feature

Spending hours in front of fitting room mirrors could soon be a thing of the past, at least for Amazon Prime users. Online retail giant recently debuted is Amazon Prime Wardrobe feature, which will allow shoppers to pick at least 3 items and up to 15 (clothes, shoes, accessories) with not up-front cost. Once the items are delivered, shoppers have 7 days to try on the items before deciding on which items to keep or return. The feature is currently in beta, but users can sign up to be notified when Wardrobe launches.

— More Content Now