Reverse Mortgages Could Boost your Retirement Income – Without Eating Your Equity!
More than 50% of Boomers have Zero Nest Egg
That’s not to say that they don’t have any assets or income:
• 77% own their homes
• 36% have paid off their mortgages
• 49% have some sort of defined benefit (i.e.. pension plan)
• Almost all receive some sort of Social Security payment
• What about the other 48% who do have savings?
• It’s a mixed bag.
• The median household among this group has $148,000 saved — enough to provide about $6,000 a year in income to those following the 4% rule.
For more detailed information please visit www.boomerincomeideas.com