Pension and Social Security not enough for many

Posted by charles dennis

May 14, 2007

sally rice reverse mortgage

WCAX-TV recently interviewed soon to be retiree Sally Rice. Check out the interview here.

Sally’s contention like many is that retirement and pension payments may not be enough to live in this day and age when inflation and costs of living increases far outperforms many peoples current rate of return, if any return exist at all. While Reverse Mortgages are a great solution for many, the real issue that must be confronted is preparing for retirement for those that have had a late start or no start at all. As the interview points out:

“As the boomers get into retirement, and they start realizing that they want to do more… they want to stay active, and they’re on a fixed income suddenly, the reverse mortgage is a tool,” said Scott Funk, a reverse mortgage broker from Richmond.”

You can also catch the interview of Sally’s interview here.