Afraid To Be A Burden On Your Children? A Reverse Mortgage: The Untold Solution.
Over and over again I hear the same concern in seniors… “I don’t want to be a burden on my children.” It’s heartbreaking and yet completely understandable. I am the proud father of four young children myself and I truly believe it’s my responsibility to teach them, take care of them and make sure that they are not burdened with personal debt upon the start of their chosen career. 
Furthermore, I’m committed to making sure my retirement is secure so that they never have the financial burden of caring for me or my wife during our golden years. Of course, like many seniors have discovered, life can get in the way and all of the sudden I could find myself at 65 or 70 with not nearly enough money in the bank. My children have families of their own and I refuse to impose on them with my misfortune. What do we do?
A reverse mortgage is the solution that no one talks about. Why not? Maybe it’s because of the many myths that are out in the lexicon of our generation. The objection I’ve heard for years is, “I’ll have nothing left to leave my children.” Blasphemy! It turns out, I was surprised to learn that:
- A reverse mortgage never has to be paid back
- A portion of your home will be available for your estate.
- Your heirs will have the choice of buying out the reverse mortgage and retaining the home or selling the property.
Sounds pretty good doesn’t it? The best part is that you have the extra income to enjoy your retirement. You can take trips with your family, give gifts to your grandchildren and; if the need arises, pay for your own in home care. You can live out your golden years with dignity, which is exactly how I would do it. Don’t assume you understand reverse mortgages until you speak with a reverse mortgage expert.
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