Sooner or later most of us will have to face the reality that we can’t do everything that we once did at home and sometimes life can get a little lonely, particularly if you are living alone. That doesn’t necessarily mean that older Australians have to make the sudden leap from independent living at home to a retirement village or nursing home.
Many seniors have spent years building equity in their homes, but once they reach their retirement years, they find that their cash funds are limited. Whether you are looking to supplement your retirement income, paying for healthcare expenses or looking to fund your dream vacation, you may be exploring a reverse mortgage.
Members of the baby boomer generation represent the richest in national history and will transfer the largest amount of wealth ever between generations.
As you enter your golden years, you want to ensure that you have sufficient financial resources so that you can live comfortably and enjoy your retirement.
Seniors who have been made redundant may discover it nearly impossible to find a new job, even though they have not yet reached retirement age. This can zap their savings, leaving them in a stress full and desperate financial situation.