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Of all the things you’ll purchase in your lifetime, it’s likely that your home will be the largest, most expensive purchase you will ever make. While homes vary widely in price throughout the U.S., the median price of a home today is close to $300,000.

As the go-to investment option for most companies and their employees, 401(k) plans provide many benefits to plan participants, including deferment of taxes, the likelihood of an employer match, and a high maximum allowable for annual contributions.  But for those that are self-employed, or whose employer does not offer a 401(k), a traditional or Roth IRA is an option.

Introduced in 1989, reverse mortgages were designed for homeowners nearing retirement age. The premise behind a reverse mortgage is to allow those aged 62 or older, with at least 50% equity in their home, to tap that equity in the form of a payment that will be made to them monthly.

If you don’t know the difference between asset-backed securities and securities, you may want to take a look at these common financial terms and their definitions.

Asset Backed Securities

Asset-backed securities are bonds or notes that are backed by assets such as credit card accounts receivable, auto loans, and home equity loans.

If you’re approaching retirement age, you may be considering a move to a more retirement-friendly state, particularly if your current state of residence imposes numerous taxes on social security, pensions, and other retirement income.

You’ve finally decided that it’s time to buy a house. Your family looks at area listings and picks out a few homes to view. In the process, you find the house of your dreams, only to watch it slip away as another potential buyer puts a bid on it, backed by their preapproval, whereas you don’t even know what your credit score is.

Homeownership is the American dream. But is it for everyone? From a young age, purchasing a home is synonymous with success. However, there are some circumstances that need to be taken into account before making the decision to buy a home.