Have you heard of the concept of a reverse mortgage, but felt leery? Is it just another loan to take out? Why would someone do something like a reverse mortgage?

As you age, there are some considerations you’ll have to start mulling: For example, would you be ready to fund a long-term care situation?

Think about when people could only use cash, and then checks came around. It felt wild, that a piece of paper could be worth money.

The advertiser paid a fee to promote this sponsored article and may have influenced or authored the content. The views expressed in this article are those of the advertiser and do not necessarily reflect those of this site or affiliated companies. We asked Certified Financial Planner Nancy Hecht, of The Hecht Effect, how to use it. Put it toward bills or catch up on the requirements of day-to-day life, save the money to bolster your liquid cash savings or pay down debt: for example, student loan debt or credit card debt. Despite the fact that there’s been some debt forgiveness, you’re still going to have to pay back money, possibly on the back end of a loan.

The advertiser paid a fee to promote this sponsored article and may have influenced or authored the content. The views expressed in this article are those of the advertiser and do not necessarily reflect those of this site or affiliated companies. When you reach a certain age, youll be required to comply with Required Minimum Distribution rules that the federal government puts in place, regarding your 401k. Let Nancy Hecht, certified financial planner, of The Hecht Effect, do the explaining in this recent podcast episode. Watch the entire video, above, to hear from Hecht.