If you’re losing sleep worrying about your retirement we have some Good News and Bad News for you.
The Good News – You’re likely to live a retirement of more than 30 years…
The Bad News – You’re likely to live a retirement of more than 30 years…
When surveyed about their #1 retirement concern, seniors overwhelmingly answered “outliving my money”. And sadly enough for the majority of seniors that’s true. The median household approaching retirement has $10,000 to $20,000 saved. Over 40% have nothing, not a penny.
The notion that we are in a retirement-funding crisis is well documented. John Bogle, the founder and retired CEO of Vanguard Investments has referred to our retirement system as a “train wreck” waiting to happen.
The ridiculous approach to retirement
Labor economist, Teresa Ghilarducci, has testified many times before Congress on the nature of what she refers to as “Our Ridiculous Approach to Retirement.”
Funding a 30 year retirement when that retirement is just around the corner is an impossible task. But it’s also not a hopeless one.
How The New Reverse Mortgage can help you avoid the train wreck
As Ghilarducci explains, we need to save 20 times our annual income (in some cases more) in financial assets to fund retirement. If you’re close to retirement that’s probably an impossible task without a winning lottery ticket. And Social Security won’t be enough to get us through the next 30 years.
The New Reverse Mortgage offer a variety of options that can be tailored to your individual needs. You can supplement your SSI with monthly payments for a set period or as long as you occupy your home, sort of a personal retirement paycheck.
Your home’s equity may be your last best chance
Fortunately you have the resource to avoid the train wreck. Countless senior have come to realize that the equity in their home may be the only way they can avoid The Retirement Train Wreck.
The New Reverse Mortgage will be there to handle those unexpected life events that happen to all of us.
It’s not an easy decision to make and shouldn’t be made without careful consideration and a lot of good information.
The New Reverse Mortgage isn’t for everyone…but it could be!
If you’re still wondering if a Reverse Mortgage is the right solution for you but you’re not ready to sit down with one of our Reverse Mortgage Experts, then we’ll be happy to mail (or email) you Use Your Home to Stay at Home which is the official federally approved consumer booklet for those considering a reverse mortgage.