The rent vs. buy debate has long been argued. But for those in retirement, the dilemma deepens. Sure, homeownership offers stable, reliable payments (great for that fixed income) and the ability to customize your property as you choose, but renting offers perks too. So, how do you choose?

If you're thinking of buying a home, then you might want to do it fast because the best month to do so is coming to an end. Studies show buying a home in December isn't just easier for most homebuyers in America, it's also more affordable, offering as much as $2,500 saved over other times of the year.

Your real estate agent doesn't handle your mortgage, but they do play a big role in the overall homebuying process. And choosing an agent who understands the mortgage side of things? That can be a huge step toward ensuring a smooth, efficient, and challenge-free home purchase.

If you're nearing retirement (or even just planning ahead for when you do), then understanding Social Security is critical. How much will you get paid? When will you receive it? Will it be enough to support your lifestyle once you exit the workforce? Answering these questions is vital and should be done well ahead of retirement.

Maximizing your employer-provided investment benefits is critical if you want a comfortable, enjoyable retirement. But how do you do that? It requires a deep understanding of your employer's exact investment offerings--in most cases, a 401(a) or a 401(k) plan.

There are few universal truths in life and one of them is that no one enjoys paying taxes. Of course they fund our roads, local public works, emergency responders and other essential services but come tax time no one is thinking about that. You've worked hard to achieve a certain lifestyle in retirement and a big property tax bill can put a damper on enjoying the fruits of your labor.

The Federal Reserve cut the federal funds rate at its meeting this week, marking the second time in only 11 years the group has done so. The rate now clocks in at 1.75-2%, down from 2.25-2.5% late last year. A change in the federal funds rate won't impact you directly, but it might trickle down to your pocketbook eventually.

Whether you're planning to downsize or buy a second home in retirement, you'll likely need a mortgage to help you do it. In fact, even if you're staying put in a fully paid-off home, a mortgage might still be a good move for your finances. Here are the mortgage loans that can help you do it.

HECM loans can come with serious advantages for active adults, and they're also available for use in refinancing. Are you hoping to purchase a home without footing the full bill up front? Do you have significant equity in your home and want to tap it via refinancing? Then a HECM loan could be the right path.

Thanks to these affordable communities and some tax benefits for retirees, active adults can retire in Illinois on a budget and still enjoy a high quality of life. If you're planning for an Illinois retirement, here's what you need to know about taxes.