Retirement no longer means ceasing to work and sitting on a remote beach sipping a cocktail with a little pink umbrella in it. In a recent survey, baby boomers (those 44 to 62 today) think of themselves as 14 years younger than they are. Of respondants 75 and older, 26% consider themselves middle aged! So, retirement is more likely these days to be a change of career or, at least, a change in overall life style. Retirement is no longer considered our “sunset” years. Baby boomers comprise 42% of the population (with 1 turning 60 every 7 seconds from now to 2025), and control 77% of U.S. assets. But, the number one concern of boomers, as well as the silent generation, is outliving their money.
So, as a licensed mortgage loan originator (NMLS #367456), I have decided to blog on the subject of reverse mortgages because I feel that the reverse mortgage is an important and misunderstood financial tool that can be a significant part of retiring well. And, as some of my recent blog posts indicate, more and more financial planners and advisors are seeing the value of reverse mortgages as part of an overall financial planning strategy. But, there is a lot of misinformation out there, and I’d like to clear it up as well as hear the perceptions of others on this. In addition to my own blog posts, readers can follow my Facebook and Twitter posts right from this website in order to learn more about the world of mortgages and real estate in general.
Naturally, as an experienced loan originator, I would be happy to assist anyone (in the state of Florida, at least) who would like the peace of mind and financial security that a reverse mortgage can provide for tapping home equity to get rid of an existing mortgage, or to purchase a new home using a reverse mortgage.
Lastly, you may think it is weird to have food and wine or humor pages on a reverse mortgage blog, but these are interests of mine and I believe them to be important aspects of retiring well. Also, since I live in the Tampa Bay area, some of the links and information are intended to be helpful for my friends and acquaintances in this area.
We live in interesting times – comments and inputs are welcome. Are you retiring well?
