Part of the “American dream” is owning a home and being mortgage-free when you retire, which is an admirable accomplishment for any family. However, there are many other factors for retired (or first- time) homeowners to consider, such as the “hidden costs” of homeownership.
There is so much to manage when faced with the passing of a loved one. The emotional toll is difficult enough, but what do you do financially?
Before deciding to help an adult child, its first important to take a comprehensive assessment of your own financial picture.