Are you swimming in equity but drowning in debt?
Without question Public Enemy #1 of a secure retirement is credit debit. Whether it’s your home’s mortgage, car payments, credit cards or even student loans. Those monthly payments and the accruing interest have countless baby boomers wondering how they will survive the next 20-30 years on a fixed income.
People are living longer than ever and by 2050 there will be an estimated one million centurions in the United States and financial advisers are starting to get the message that their clients are living longer and are urging them to save more money, according to an Investment News survey of 348 advisers.
Related: Want to stay at home?…Use your home
If your peak earning years are behind you, how can you save more and ensure a secure retirement and yet still pass on the family home as an inheritance?
The New Reverse Mortgage to the rescue
The New Reverse Mortgage is becoming a more popular solution to help seniors deal with the unpredictability and not outlive their retirement savings. but there are still some issues surrounding the product that can make it a tough decision for some.
Cash inheritances are not as popular anymore since retirement is so pricey, but a lot of the advisers surveyed said children of their clients are still expecting an inheritance in the form of a family home.
By including The New Reverse Mortgage into early retirement planning, mom and dad can enjoy a secure retirement and the kids will still realize their legacy gift.
By taking care of yourself now, you and all those who are close to you can breathe a sigh of relief and live long and unencumbered lives.
The multitude of options available with The Reverse Mortgage have allowed countless seniors to fashion a retirement plan that best fits their family’s financial needs which for many has allowed them to provide for a longer retirement and still have a legacy gift for their heirs.
There is no one size fits all solution but increasingly financial advisors and reverse mortgage professionals are working together to not only fund a safe and secure retirement but also leave something for their families when they pass.
How do I know if a Reverse Mortgage is right for me?
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.
Read the full article on Investment News
From the desk of Greg Cook