Attitudes are shifting in regards to how Reverse loans are being seen by financial planners and the general public as a tool for retirement planning. Used correctly, they can extend the longevity of a retirement portfolio and eliminate the worry of out living one’s money.
The Huffington Post recently discussed how a segment of older people, primarily “Boomers” who happen to have retirement funds, are looking to use money from a Reverse mortgage as a resource for additional funds and why they should, in lieu of withdrawing money from their retirement accounts.
HuffPost: Mass Affluent Present Huge Reverse Mortgage Opportunities
Posted By Jason Oliva On October 12, 2014 @ 7:37 pm In News,Reverse Mortgage | No Comments
“As reverse mortgages continue to gain notable mainstream press, they are also earning recognition for the vast need that lies ahead when it comes to the nation’s severe retirement crisis, according to a recent Huffington Post blog .
It is widely accepted that the Baby Boomer generation, which is seeing 10,000 Americans turn age 65 each day for the next 15 years, presents a favorable opportunity for reverse mortgage usage in the years to come. However, a group within this demographic dubbed the “mass affluent” stands to have the greatest potential in utilizing these loans.
“It’s a very misleading term because they’re not massively affluent. Rather there’s a mass of them and they’re almost affluent,” said Barry Sacks, a California tax attorney, author and nationally recognized expert on reverse mortgage trends, in the HuffPost blog article.”
I will share the remainder of this article in a following post.