More than half of all American households are at risk of not being able to maintain their current standard of living in retirement, according to the Center for Retirement Research at Boston College's National Retirement Risk Index (NRRI). The percentage of at-risk households rose from 44 percent in 2007 to 53 percent in 2010.
The primary causes for the deterioration are not surprising: falling investment and housing values since the recession, very low interest rates, and the planned transition in the age of eligibility for full Social Security benefits, from 65 to 67. (Raising the retirement age effectively reduces retirement incomes for people who retire at age 65 and claim Social Security.)
For many, a reverse mortgage can be a viable option to supplement income - or extinguish current debt to improve their cash flow. Visit www.topflitereverse.com/florian to see what you can qualify for.
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