2019 Summer Retirement Lifestyle Guide

Retirement Lifestyle Guide Summer 2019


Mental, physical and financial preparedness are all important to one’s overall health in retirement. This guide is dedicated to helping you live life more fully, and retire more freely.

In this issue, you will find helpful tips on how to make the most of your summer, whether you are already in retirement or still dreaming about getting there. From vacation and leisure ideas, to heart-healthy advice, and guidance on helping college-bound grandchildren pay for school—may it prompt you learn something new, and try some things you’ve never experienced!

Have a great summer.

“ And so with the sunshine and the great bursts of leaves growing on the trees, just as things grow in fast movies, I had that familiar conviction that life was beginning over again with the summer. ” —F. Scott Fitzgerald

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Table of Contents

SEVENHEALTHY TIPS to Keep You Young at Heart—Literally .................................... 3

FOUR RETIREMENT REALITIES: What Surprises Retirees Most ................................ 5

FIVE SUMMER ACTIVITIES That Won’t Bust Your Retirement Budget . .................... 7

FUN AHEAD: 6Ways to Spice Up Your Retirement ..................................................... 9

FIVE WAYS to Help College-bound Grandkids Pay for School ................................... 11

SIX REASONS Why Gardening is Great for Your Health at Any Age ...................... 13

FIVE TIPS to Help Make the Most of Your Vacation .................................................... 15

BEST BEACHES of 2019 ....................................................................................................... 17

BLAST FROM THE PAST: Test Your Trivia Knowledge ................................................... 19

A DATE to Remember ......................................................................................................... 20

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7 HEALTHY TIPS to Keep You Young at Heart

Though heart disease tops the list as the leading cause of death for both men and women in the U.S., there is good news—you can help prevent it by making healthier lifestyle choices now. Try these tips to get you on the path to cardiac wellness: Eat your vegetables .

A diet rich in vegetables and fruits can lower blood pressure and reduce the risk of heart disease and stroke.

Plant-based foods also provide high amounts of necessary vitamins, minerals and dietary fiber. Plus, loading up on more vegetables and fruits may help you cut back on higher-calorie or processed food choices.

Think low-fat protein . Ditch the hamburgers and whole- milk yogurt. Lean meat, poultry, fish, low-fat dairy products, eggs,

Reach for the whole grains . Whole-wheat, brown rice, barley, buckwheat and quinoa are all heart- healthy sources of fiber another

nuts and legumes are some of your best options for protein. Certain types of fish and nuts are also rich in omega-3 fatty acids, which can lower blood fats that are essential in managing and preventing heart disease . Control portion size .

nutrients that can help regulate blood pressure , according to The American Journal of Clinical Nutrition. Swap out refined grain products like white bread or pasta for whole grain alternatives, which are more readily available and better- tasting than in the past.

It’s not just about what you eat. Portion size matters . Focus on eating larger portions of fruits and

vegetables, whole grains and non-fat dairy, and smaller portions of everything else. Not only will this benefit your heart, but your waistline will thank you.

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Home is where the heart is Getting your heart health in check is critical. But you also need healthy finances to sustain a comfortable lifestyle, especially in retirement. Are your finances stressing you out? If you are like many people today, you may have burdensome mortgage and credit card debt. It’s important to investigate your options for managing debt and alleviating what can be an unhealthy source of anxiety. A reverse mortgage is a type of loan exclusively available to homeowners and homebuyers age 60* and older, allowing you to borrow against the equity in your home. In doing so, it provides funds that you can use today, or a line of credit that will be there when you need it—all while you continue to live in and own your home. As with any mortgage, you must meet your loan obligations, keeping current with property taxes, insurance, and maintenance.

Reduce your salt intake . Consuming excess sodium can contribute to high blood pressure. The American Heart Association recommends that most adults ideally have no more than 1,500 mg of sodium a day. Get moving . Did you know that 80% of American adults don’t get the recommended amount of exercise? As little as 15 minutes of activity a day can benefit your heart health, fending off high blood pressure, heart attack, stroke and a host of other diseases. A mix of aerobic exercise and strength training are the foundation of a solid fitness regimen. If you’re 65+, be sure to check out the SilverSneakers fitness program that’s included with many Medicare Advantage insurance plans. Control stress . American Heart Association warns that it can contribute to everything from high blood pressure to ulcers. Developing strategies to manage stress levels—therapy, meditation, yoga, etc.—can help keep anxiety at bay. It’s easier said than done, but the payoffs are well worth it. Chronic stress can weaken the immune system—and your heart health. When it’s excessive, The

Getting your heart health in check is critical. But you also need healthy finances to sustain a comfortable lifestyle, especially in retirement.

*Not applicable in all states; some states may impose a higher age requirement. Visit “http://www.reversefunding.com/equity-elite” www.reversefunding.com/equity-elite for details.

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The overall cost of living You’ve built an impressive nest egg—or so you thought. According to the Employee Benefit Research Institute , two out of five retirees find their overall expenses are beyond what they budgeted:

Will retirement be everything you envision it to be? From the cost of maintaining your lifestyle to havingmore time than you’d like to spend with your spouse, youmay be hard-pressed to learn that the transition to a life of “leisure” isn’t always so easy. In fact, some of biggest changes come from the unexpected. Here are four realities that catchmany retirees off guard once they clock out of the workforce for good: The cost of healthcare Did you know that a married couple will spend an estimated $245,000 on healthcare during retirement? When it comes to retirement expenses, healthcare costs are leading the charge. Many retirees say their healthcare costs have been higher than expected. What’s more, many don’t consider the cost of long-term care, which is not generally covered by Medicare. Someone turning 65 today has a 70% chance of requiring some type of long-term care services during their lifetime. Situations like these are often under-anticipated, leading to a rude awakening at the worst possible time. The younger you are and the better your health, the cheaper your premiums for long-term care coverage should be. 1

n 27% spend more on daily living expenses

28% pay more in taxes


n 20% report inflation is higher than they expected Be sure to leave some wiggle room in your retirement budget if costs don’t add up as planned.

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tirees Most

Be sure to leave some

wiggle room in your retirement budget if costs don’t add up as planned.


Missing the workplace environment

We’ve all fantasized about the prospect of never having to work again. But that may not be the case in retirement. Aside from the obvious income, work provides a sense of purpose and much-needed social connections. According to a Federal Reserve study , one third of retirees eventually return to work on either a full- or part-time basis. And while income is certainly an attractive draw, the Federal Reserve believes that people don’t like not working, and would rather wake up and go to work. Before you retire, it’s important to figure out how you can meet the mental, physical and psychological fulfillment that working provides. Too much “we” time Among U.S. adults ages 50 and older, the divorce rate has roughly doubled since the 1990s. Coincidence? Perhaps. But with all the free time that retirement allows, you may discover your partner gets on your nerves more than you’d like to admit. Think about it: You’ve likely spent the last few decades following your respective careers paths and raising a family. It’s easy for long- time partners to fall out of sync and neglect nurturing their relationship. Plus, each partner may experience the transition to retirement differently, so look for activities you can do apart as well as together. 4

Because every day is full of surprises… Your retirement should be an enjoyable and fulfilling stage of life. Planning ahead for what’s to come can help make your transition a good one, especially when it comes to your finances. A reverse mortgage may be a sensible option to help alleviate the financial worries and unexpected expenses that can spring up during retirement. Available to homeowners and homebuyers age 60* and older, this type of loan allows you to borrow against the equity in your home, while you still own and live in it. As with any mortgage, you must meet your loan obligations, keeping current with property taxes, insurance and maintenance. Reverse mortgages aren’t right for everyone, so it’s wise to explore all your options.

*Not applicable in all states; some states may impose a higher age requirement. Visit “http://www.reversefunding.com/equity-elite” www.reversefunding.com/equity-elite for details.

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5 SUMMER ACTIVITIES That Won’t Bust Your

2 . Join the community pool. Chances are, your town or county has a public pool for residents. An affordable seasonal membership gives you the chance to kick back and cool off during hot summer days. Membership may also include free or discounted swim lessons if you want to brush up on your skills or learn some new strokes.

Summer is the perfect time to catch up with friends, visit family and take advantage of different opportunities for leisure, but it doesn’t have to break the bank. There are plenty of ways to have fun at a low cost, helping to keep you busy and stay on budget: 1 . Explore your local library. Borrow books, check out movies and download music—all for free. Your public library may even have a summer reading club specifically for adults, as well as activities such as computer training, workshops, author events or foreign language classes. Many libraries also offer free passes to museums and national parks for cardholders. If you’re babysitting the grandchildren, remember the library has tons of activities for them as well.

3 . Head to the beach. What’s more relaxing than an afternoon at the beach? While some beaches are free to enter, others require the purchase of a daily or seasonal badge. You can likely save by going on weekdays or late afternoons, or by purchasing a discounted pass for those 55 and over. Pack water and a picnic lunch to avoid overspending on concessions.

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Retirement Budget

4 . Stroll or hike through nature. Search online to find public gardens , flower fields or hiking and walking trails in your area. Most are free or accessible at a very low cost. Don’t forget to bring your camera to capture the plants and flowers that are blooming in season. It’s the perfect opportunity to get some exercise surrounded by the beauty of nature at its finest. 5 . Act like a tourist in your own neighborhood. Too often, the only time we see familiar surroundings through fresh eyes is when hosting out-of-town visitors. Why wait? Fill gaps in your local knowledge by taking a walking tour

of a nearby city, researching historic buildings or notable residents, or using town hall records to explore the history of your own home. Check out the local convention & visitors’ bureau or tourist websites for popular recommendations.

“ I dreamof summers that will last forever. ” —Anonymous

Freeing up funds for summer fun While there are plenty of low-cost activities, there are also financial opportunities available to help ensure you have enough money available to fund the leisurely retirement you’ve envisioned. For example, a Home Equity Conversion Mortgage (HECM) reverse mortgage loan can be a sound financial planning tool for older adults. Exclusively for homeowners and homebuyers age 62 and older, a HECM reverse mortgage loan allows you to borrow against the equity in your home, giving you access to cash that you can use today, or a line of credit that will be there when you need it. An Equity Elite Reverse Mortgage is another loan option that offers many benefits, including maximum lending limit up to $4 million, as well as no Mortgage Insurance Premium (MIP) fees. Both a HECM reverse mortgage and Equity Elite can help you delay the need to tap into your retirement funds.

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FUN AHEAD: 6Ways to Spice Up Your Retirement R etirement freedom is in full effect. You have all the time in the world to catch up on your favorite shows, visit family and friends, and take in a game of golf. But with all this newfound time on your hands, is your daily routine getting a little lackluster? Because retirees are not consumed with work or raising children, they have an abundance of discretionary time—an average of almost 7.5 hours a day. And over 80%of retirees want to fill that time with as manymemorable experiences as they can. If you’re looking to spice up your routine, here are some ideas to jumpstart the excitement.

1. Learn something new. Have you always wanted to speak Spanish, ride a motorcycle or learn to play the guitar? Whatever your interests, learning a new skill or craft can give you something to look forward to each day. Check out the local college or community center for classes, tune into YouTube for how-to videos, or visit the library for instructional books on your new venture.

2. Travel the world. You’re no longer bound by limited vacation days from your employer, so why not get out of town? A change of scenery can be exhilarating and the perfect way to recharge your battery. Maybe you’ve always wanted to take a cruise or visit Europe? If there’s an incredible getaway you’ve been eyeing on the Travel Channel, get online and start planning the trip of your dreams. 3. Take off in an RV. If you’re not quite ready to travel the world, buy or rent a recreational vehicle (RV) to see the country. Take a cross-county trip on historic Route 66 . Or drive along California’s coastline from San Diego to San Francisco. An RV vacation can be a better choice than traditional travel, especially if you’re looking for cost savings, flexibility and bonding with your travel partner(s). Never traveled in an RV before? Be sure to do some homework so you can make a travel plan that fits your style and budget.

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Financing your post-retirement fun Remember, retirement is a journey—not a destination. And you want to make sure you have fun along the way. If you’re looking for options to fund your free time, without selling your home, a reverse mortgage may be a smart choice if you’re a homeowner age 60* or older . A special type of home loan designed specifically for people who are in or approaching retirement, it allows you to turn some of the equity in your home into funds you can use as you choose, and give yourself more financial freedom and flexibility. In fact, according to Jamie Hopkins, associate professor of taxation at The American College of Financial Services, a reverse mortgage is an “underutilized asset and tool for Americans. If properly used, it can be one of the best features of your retirement income plan.”

4 . Head back to school. Learning doesn’t end just because you’ve retired. Finish your diploma, get a certificate, or go back for a degree. When you’re pursuing an education purely because you want to, you’ll get more enjoyment out of going to class and tackling each assignment. And imagine the sense of accomplishment you’ll feel when you get the highest score on an exam! Check out which colleges near you offer special discounts or programs geared to retirees. 5. Challenge yourself physically. Physical fitness is critical to health as we grow older, so why not set new goals to achieve your healthiest self? Sign up to walk a 5K, or start training to see how many laps you can swim at the local Y. As an added benefit, regular exercise can help bump up the production of endorphins, ultimately improving your mood and reducing stress. You might even want to try an exercise known for its therapeutic effects, like yoga or tai chi.

6 . Volunteer—locally or abroad. Your retirement years are a great time to give back. And the thrill of helping people and communities in need may be just want you’re missing. There are numerous ways to volunteer locally , but there are also opportunities to lend a hand overseas , from teaching school children in Tanzania, to helping care for sick and injured animals in Costa Rica, to simply using your experience and knowledge to help others anywhere in the world. It can be rewarding (and exciting) to help others and connect with like- minded people. “ If you’re not barefoot, then you’re overdressed. ” —Unknown

*Not applicable in all states; some states may impose a higher age requirement. Visit “http://www.reversefunding.com/equity-elite” www.reversefunding.com/equity-elite for details.

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5 WAYS to Help College-bound Grandkids P

A s the cost of higher education climbs, many grandparents are stepping in to help their grandchildren pay for college. If you have grandchildren and can afford the expense, odds are you want to pitch in. Did you know that 62 percent of adults ages 50 and older are providing some form of financial support to a family member? Helping your loved ones alleviate some expensive college debt can be a smart financial strategy for you both—if done correctly. Before signing a check or opening a new account, here are five options to carefully consider. And of course, be sure to consult a tax professional and a financial aid specialist to make sure your plan works well for your family’s individual situation. Pay tuition directly to the school. A straightforward way to fund your grandchild’s education, there’s also a special tax-code exemption that protects your tuition payment from gift tax. On the other hand, this method could have a negative impact on your grandchild’s financial aid. When you withdraw money from an investment account to use for this purpose, the parents must report the money as the child’s income on the Federal Application for Student Financial Aid form , commonly known as FASFA, which can reduce financial aid by as much as half the cash that’s withdrawn.

Contribute to your grandchild’s (or their parent’s) 529 Plan. 529 accounts offer tax-free earnings and tax-free withdrawals to cover education costs including tuition, books, and room and board. Many parents open an account on behalf of their children, but it’s very common for other relatives to make contributions. As a grandparent, you can give up to $15,000 annually and not be subject to the gift tax. If the money, however, is used for non- qualifying expenses or withdrawn early, penalties will apply. Loan your grandchild the money. According to the Tax Act blog , you can give your loved one a loan of up to $10,000 interest free. Anything greater will be subject to a minimum IRS-set interest rate. Keep in mind, interest on the loan will be taxable to you, but not deductible by your grandchild. Also, loans are meant to be paid back, so make sure the terms are clear when you extend the offer. Give them a cash gift. Unlike a loan, a gift is not intended to be paid back. According to IRS guidelines on gift exclusions , you can give your grandchild up to $14,000 a year without paying gift tax. However, the money you give to your grandchild is treated as untaxed income and affects financial aid eligibility by as much as 50% . To avoid this, you can gift the money to the parent—as the FAFSA does not consider cash gifts to parents part of the income that they must report when filing, according to Edvisors .

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y for School Pursue scholarships and awards.

According to Mark Kantrowitz, a nationally-recognized expert on student financial aid, scholarships and student loans, grandparents can work with their grandchildren to help them find scholarships. He explains,

“Maybe grandparents are a member of a fraternal organization that gives out scholarships and they can nominate their grandchild for it. In addition, some colleges have legacy scholarships. If your grandparents went to that college, you might be able to apply for a scholarship at that school.” Kantrowitz also points to joint volunteer opportunities that include educational awards. “A grandchild volunteers through AmeriCorps, and the grandparent through Silver Scholars. Both can earn educational awards and the grandparent can give their education award to the grandchild.” There are also scholarships available to grandchildren of military veterans. For example, from AMVETS National Service Foundation, the American Legion, and the Military Order of the Purple Heart Foundation. These are just a few sources.

Maximizing your generosity Contributing to a grandchild’s college education is a meaningful gesture that can help lighten their financial burden for many years after graduation. But you need to ensure you have the means in place to help them— and help yourself. Fortunately, there are financial opportunities to free up funds when you need them most. Exclusively available to homeowners and homebuyers age 60* and older, a reverse mortgage loan allows you to borrow against the equity in your home, giving you access to funds that you can use today, or a line of credit that will be there when you need it.

“ Each summer has its own story. ” — Unknown

*Not applicable in all states; some states may impose a higher age requirement. Visit http://www.reversefunding.com/equity-elite” www.reversefunding.com/equity-elite for details.

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6 REASONS Why Gardening is Great for Yo A lush garden full of vibrant colors and scents certainly appeals to the senses. But did you know that gardening can also play an important role in

1. Improves immunity. You often have your sleeves rolled up and your elbows deep in dirt—and that’s a good thing! According to Harvard medical researchers , exposure to dirt can lower your susceptibility to asthma and inflammatory bowel diseases. If minute amounts happen to be ingested, soil even protects the stomach against toxins, parasites and pathogens. While we’re not advocating making a mud pie, gardening can be a great way to give your immunity a natural boost. 2. Exposure to vitamin D. Vitamin D is essential for strong bones, cell growth and fighting infection—and sunlight happens to be the best source of this power- packed vitamin. One study found that exposure to sunlight helps older adults achieve adequate serum vitamin D levels. Just don’t forget to wear sunscreen, sunglasses and even a hat for protection from harmful rays. Gardeners can benefit from the sunlight, exercise and brain-boosting effects of this ageless hobby. It’s never too late to get started, so read on for six health advantages of gardening: your overall health and well-being? Not only should you stop smell and the roses, you should tend to them and help them grow.

3. Boosts your mood. Aside from the vitamin D benefits, the sun’s rays also boost serotonin levels in your brain. Serotonin is a chemical that contributes to your well-being and happiness; in fact, low levels are often associated with anxiety and depression. So, if you’re prone to the seasonal blues, a little bit of work in the yard may help lift your spirits. 4. Relieves stress and anxiety. Did you know that gardening can lower cortisol levels in your brain? Cortisol, commonly known as the stress hormone, can cause blood pressure and glucose levels to fluctuate dangerously high when there’s an abundance. But by putting your green thumb to work, you can help keep levels stable.

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r Health at Any Age 5. Puts your body to work. Research shows that staying active keeps the

Get ready to dig in! Gardening can provide beautiful and satisfying results, while improving your physical, mental and emotional health for years to come. “ Just living is not enough…one must have sunshine, freedom and a little flower. ” —Hans Christian Andersen

body flexible and healthy, and gardening is a great form of aerobic exercise. From lifting tools to twisting and bending as you pull weeds, gardening will help you work new muscle groups and increase strength. 6. Promotes lifelong learning. If you’re new to gardening, it can be fun to immerse yourself in the latest trends, needs of specific plants in your geographic region, best times of day to water, and more. And as you’re watching your plants to come life, their growth delivers a sense of meaning and accomplishment that may have been muted with retirement.

Wondering where you’ll plant your garden? If you’re newly retired or approaching this phase of your life, you may be exploring options to ensure a home that’s compatible with your retirement lifestyle and finances. A reverse mortgage is a financial tool that can provide funds to make home renovations or purchase a new home where you can make the most of your retirement years—including your gardening hobby.

To learn more, call your local RMF loan specialist | 1 4

5 TIPS to Help Make the Most of Your Vaca O ne of the perks of retirement is havingmore free time to do the things that you love. For many older people, this means traveling. According to the AARP 2019 Travel Trends Report, 99 percent of Baby Boomers plan to take at least one leisure trip this year. And, whether the purpose is seeing family, a romantic getaway or a summer vacation, here are a few good tips to keep inmind while traveling.

Safety first! Take safety precautions even before you go on vacation. Don’t publicly advertise that you will be away from home on social media sites, like Facebook. Have people you trust check in on your house while you are away to bring in your mail and turn on the lights. This will make it look like someone is still at home. If you can’t, consider putting your lights on a timer. Make copies Before you set off on your grand adventure, create a backup of your travel documents. This includes any state issued identification card, such as a driver’s license, passport (if applicable), medical documents, any credit cards that you will be taking with you, and tickets or confirmations. Leave one copy at home in a secure location and one copy with a trusted friend or relative. Also leave a copy of your travel itinerary with someone who you will check in with during the trip. Take care of yourself While you want to make the most of the time you have on vacation, don’t push yourself too far. Of course, you want to sample the local sights and sounds, but you have to take care of yourself first. Take all of your medications, hydrate throughout the day, even take a nap if you need it. You won’t enjoy your vacation if you aren’t feeling your best.

And speaking of medications Keep all prescription medicine in its original container. Make sure all containers are clearly labeled and include some extra doses in case you are unexpectedly delayed. Bring a copy of your prescriptions with you so if something happens you can get a refill. And don’t pack your medications in checked luggage. If your travel plans take you across multiple time zones, you may need to adjust when you take your medicine. Talk to your doctor to see what precautions you might need to take.

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Dress for comfort Comfortable, loose clothing will help to lower the risk of heat stroke, hypertension and high blood pressure. And, it reduces the risk of blood clots if you are standing or sitting for long periods of time. Also, consider wearing compression socks if you are going to be on a plane. If you are going to be doing a lot of walking, wear flat, supportive shoes to help stay balanced and prevent falls.

What are you waiting for? If you are a homeowner age 60* or older and the only thing that is holding you back from pursuing your dreams of travel is lack of funds, you might want to consider a reverse mortgage . A special type of home loan designed specifically for people who are in or approaching retirement, it allows you to turn some of the equity in your home into funds you can use as you choose and give yourself more financial freedom and flexibility.

“ Wherever you go, go with all your heart. ” — Confucius

*Not applicable in all states; some states may impose a higher age requirement. Visit http://www.reversefunding.com/equity-elite” www.reversefunding.com/equity-elite for details.

To learn more, call your local RMF loan specialist | 16

BEST BEACHES of 2019 (counterclockwise from left)

Cannon Beach, Oregon Gulf Shores, Alabama Sand Beach, Maine Santa Monica State Beach, California Clearwater Beach, Florida

Source: AARP’s Best Beaches of 2019 (https://www.aarp.org/travel/vacation-ideas/beaches/info-2019/top-us-beaches.html)

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To learn more, call your local RMF loan specialist | 18

BLAST FROM THE PAST: Test Your Trivia Knowledge

1. What hide was first used to cover baseballs in 1975? 2. What famous cowboy of the 1950s was really named Leonard Slye? 3. What Cleveland disc jockey first used the term “Rock N Roll” in 1951? 4. Who leaked the Pentagon Papers in 1971? 5. What was this famous boxer’s name before he changed it to Muhammad Ali? 6. Which book about a bird on a journey of self-discovery topped The New York Times best-seller list for 38 weeks in 1970? 7. Which film was the highest grossing release of 1963, yet still lost money because it was one of the most expensive films ever made? 8. What famous explorer first climbed Mount Everest in 1953? 9. British fashion designer Mary Quant invented a daring and revealing new type of women’s clothing in 1964. What was it called? 10. Which television game show first aired in 1956 and is still running today?

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A DATE to Remember

JULY 4 Independence Day 11 Cheer Up the Lonely Day 15 Global Hug Your Kids Day 17 National Hot Dog Day 20 National Ice Cream Soda Day 30 National Cheesecake Day

JUNE 6 D-Day, WWII 14 Flag Day 16 Father’s Day 19 Juneteenth 26 Forgiveness Day

AUGUST 3 National Watermelon Day 10 National S’mores Day 21 Senior Citizen’s Day 26 National Dog Day 30 Toasted Marshmallow Day

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Customer Satisfaction ★

This information is intended for those who are interested in financial education. This information is provided for convenience only, and RMF make no warranties concerning the accuracy or completeness of any of the information. Information is subject to change without notice, and RMF is under no obligation to provide updated information. Materials or statements made by a third party and located or posted on the Site are those of the third party and do not necessarily reflect the official policy or position of RMF. This is not financial, tax, compliance or legal advice and should not be taken or relied upon as such. Each individual should consult with his/her financial, tax, or legal professional. All mortgage origination services are provided by Reverse Mortgage Funding LLC, a state licensed mortgage lender, which is licensed or otherwise exempt from state licensing in the states in which it originates mortgage loans. ' This material has not been reviewed, approved or issued by HUD, FHA or any government agency. The company is not affiliated with or acting on behalf of or at the direction of HUD/FHA or any other government agency. Equity Elite Reverse Mortgage (“Equity Elite”) is Reverse Mortgage Funding LLC’s proprietary loan program, and it is not affiliated with the Home Equity Conversion Mortgage (HECM) loan program, which is insured by FHA. Equity Elite is available to qualified borrowers who also may be eligible for HUD, FHA’s HECM program or are seeking loan proceeds that are higher than HUD, FHA’s HECM program limit. Equity Elite currently is available only for eligible properties in select states. Please contact your loan originator to see if it is currently available in your state. Upon a maturity event, any non-borrowing individuals with an ownership interest in the property, including non- borrowing spouses, will have 90 days to purchase the property from the estate or, if the non-borrower inherits the property, pay the loan in full using any sources of funds available to them. Any non-borrowing individual, including a non-borrowing spouse, should have a plan to pay off an Equity Elite reverse mortgage upon the borrower’s death or any other maturity event. If the non-borrower is unwilling or unable to purchase the property or pay the loan in full, there is no protection for the non-borrower (including a non-borrower spouse) to maintain an interest in the home or to continue residing in the home past the maturity event and the non-borrower may be evicted upon foreclosure . The FHA HECM program has protections in place for certain non-borrowing parties, so a reverse mortgage applicant with certain non-borrowing parties should strongly consider a FHA-insured HECM loan (see HECM guidelines or ask an RMF representative for details). Under the Equity Elite reverse mortgage loan program, a maturity and/or default event occurs when the last surviving borrower no longer lives in the home as his or her primary residence for at least 12 months, the property charges (including taxes, insurance, or any other property charges) are not paid, required repairs are not completed or the property is not maintained, or any other maturity and/or default event, as specified in the Security Instrument, occurs. Charges such as an origination fee, mortgage insurance premiums, closing costs and/or servicing fees, if applicable, may be assessed and will be added to the loan balance. As long as you comply with the terms of the loan, you retain title until you sell or transfer the property, and, therefore, you are responsible for paying property taxes, insurance and maintenance. Failing to pay these amounts may cause the loan to become immediately due and/or subject the property to a tax lien, other encumbrance or foreclosure. The loan balance grows over time, and interest is added to that balance. Interest on a reverse mortgage is not deductible from your income tax until you repay all or part of the interest on the loan. Although the loan is non-recourse, at the maturity of the loan, the lender will have a claim against your property and you or your heirs may need to sell the property in order to repay the loan, or use other assets to repay the loan in order to retain the property. ©2019 Reverse Mortgage Funding LLC, 1455 Broad Street, 2nd Floor, Bloomfield, NJ 07003, 1-888-494-0882. Company NMLS ID #1019941. For licensing information go to www.nmlsconsumeraccess. org. Arizona Mortgage Banker License #0927682; Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act; Loans made or arranged pursuant to a California Financing Law license Georgia Mortgage Lender Licensee #36793; Massachusetts Mortgage Lender License #ML1019941; Licensed by the New Jersey Department of Banking & Insurance; Licensed Mortgage Banker-NYS Department of Financial Services - in-state branch address 700 Corporate Blvd, Newburgh, NY 12550; Rhode Island Licensed Lender; Texas Mortgage Banker Registration in-state branch address 6044 Gateway East, Suite 236, El Paso, TX 79905. Not all products and options are available in all states. Terms subject to change without notice. Certain conditions and fees apply. This is not a loan commitment. All loans subject to approval. L2717-Exp062019

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