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Many Reasons for Changes in Retirement Plans

Does your retirement plan need to be reviewed now to allow you to live comfortable in retirement?

The value of retirement accounts dropped over the last few years, there were many that lost jobs and many took jobs paying much less, the cost of things like gas, heating fuel, actually there is an endless list of reasons.

Margaret and Manny came to me for a reverse mortgage, they were 69 and 73 respectively. They were referred by their daughter, as I had done a couple of different mortgages over the last 10 years. They owned a modest home that was presently valued at $110,000, so a reverse mortgage would have gotten them about $68,000. The problem, they owed $90,000.

At one point during the conversation, Manny turned to his wife and apologized for not earning enough money for them to retire. Maggie turned to her husband and said, “our lives are very good, I could not ever want for more.” He just said, “Thank you, I love you.” OMG, they were very special people.

This article has suggestions that you can do now to make sure retirement is comfortable:

How the Recession Has Changed Retirement Planning

By: Roger Rousseaux

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

Henry Willim May 23, 2013 at 07:07 AM
Reverse mortgage loans can meet your retirement needs if you currently own a home. Like the name "Reverse mortgage" implies, instead of making payments to pay-off a mortgage a reverse mortgage makes payments to you. Reverse mortgage loans can provide you additional income in your retirement years which can improve you quality of life. http://www.reversemortgagelendersdirect.com/quote/ http://www.reversemortgagelendersdirect.com/advantages-and-disadvantages-reverse-mortgage/ http://www.reversemortgagelendersdirect.com/reverse-mortgage-cons/

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