Today, MarketWatch came out with an article about what retirees are going through. The article by Catey Hill is clever and lighthearted, but also illuminates the tough financial position in which seniors in America find themselves.
According to the article, 60% of workers aged 55 and older have saved less than $100,000 for retirement, while 24% have saved less than $1,000. Roughly 15% of people over age 65–that’s 6.1 million people in all–live in poverty.
If this is your situation, and you’ve reached the retirement age of 62, you might want to consider a reverse mortgage to help you pay your bills, fund your Long Term Care, pay for your health care, or make that trip to Hawaii a reality. There may also be other ways to help you thrive.
If you own property in Colorado, call Steve today. You’ll talk to him personally, and he will give your financial situation a thorough physical to see how you can best recover your financial health. Call The Mortgage Doctor toll free at: 1-877-299-5500. Don’t wait another day.
These are the 10 Senior Secrets listed in the article. To read the complete explanation of each one, go to the original article at: http://www.marketwatch.com/story/10-things-retirees-wont-tell-you-2014-09-19?page=1. (I want to read number 7!)
1. We’re broke
2. Retirement is more stressful than it looks
3. We spend too much time by ourselves
4. We’re in denial about our health problems…
5.…and our health-care costs are huge
6. We’re coming after your jobs
7. We still get frisky
8. We’re planning to move in with you
9. That big Hawaii trip? It’s more like a pipe dream
10. We’re scam magnets