Over the last decade, reverse mortgages have been marketed as an easy way for seniors to cash in their home equity to pay for living expenses. However, many have learned that improper use of the product – such as pulling all their cash out at one time to pay bills – has led to significant financial problems later, including foreclosure. Many grandparents go above and beyond to offer financial help to adult children and grandchildren. If you’re seeking to contribute to your grandkids’ financial future, one option might involve opening a custodial Roth IRA (http://www.irs.gov/Retirement-Plans/Roth-IRAs) on your grandchild’s behalf as soon as he or she starts reporting earned income. If you’re worried about paying for your child’s college education, keep this statistic in mind: during the 2011-12 school year, the U.S. Department of Education reported that 85 percent of all full-time, four-year college students were receiving some form of financial aid. online investments. 58413
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