The Greatest Generation Seniors Did Not Do Anything Wrong to End Up in Financial Trouble Today
If you are one of the many seniors who followed the plan and put away your money in your company’s retirement program over the last twenty-five years on a regular schedule and pick what you thought were sound investments, you thought you would have a nice nest egg to live off the rest of your years. In theory it should have worked out well for you, but the problem is that while you were saving for the rainy day retirement fund the one thing that you never new was brewing throughout the world was what I like to the Big G. So I guess you are wondering what the Big G is well it is something that just got so big that it hate itself.
The Big G is Greed the single biggest factor and in fact in my opinion is the number one reason for the financial mess that the world is in today. The Greed Factor is wide spread it has hot every part of the economy and each and every hard working person in the country. The one thing that continually going on was that if they can get one then they could ten and then twenty and fifty and so on until the bottom had no choice but to drop out and the ride was over. The ride was good for so many people the biggest problem was that all of the people who trust the money keepers that they could continue on forever and the script was so well written they everybody believe it. It does not matter what investment it was from real estate to stocks, there had to be a hole in the donut somewhere and it had to come to and end sometime.
The seniors put all of their faith in the system and the system let them down in a big way, many have seen all of their hard work go right down the drain and the ones that are responsible for handling the investments had shown no remorse. In fact they turned around and held the country and the world at gun point and forced a bail-out of their mistakes. The problem is that the bailout should have gone to fix the peoples losses and not the ones who made the most profits from the losses.
I read an email a while back and it made more sense then anything I had read that either came out of the government or anywhere else and it went something like this, so think about this real hard. If you take the complete amount of the two stimulus packages which was around 1.5 trillion dollars to date and you took all of the money and took every person in the country who pays taxes and this to me was the meaningful Pays Taxes and you divided the money up equally between each person and sent them a check tax free. The check would equal somewhere in the area of $250,000 tax free this would correct the economy. People who received this check would have been able to pay off or pay large amount of the credit issues off they would be able to buy goods and sets and much more then just giving it to the same people who cause the problem in the first place. Think about this; what could you have done if you were sent a tax free check in the amount of $250,000 do you think that this would change your life financially. Would it not have reduced people bad debt and edges and creditors would have the money that was loaned out back in their pockets in many situations. already if the person who received it went out and just blew the money it would have been put into the economy one way or another that money would be in circulation today.
They would buying cars, houses, goods and sets and already paying off debt, if this would have taken place there would be more capital going around the country and the world and already the people who lost their jobs would have been able to survive or start a business and not be wards of the government. The biggest problem is that this is to simple and not complicate enough to keep the average person confused for life. With all of the money that has been loaned or given away to all of the edges and companies has it changes your retirement income for the future in anyway shape or form. The answer to that is no and it will not simply because if you are at the age of 70 when you can receive the most from Social Security you just don’t have enough time left in your life to get it all back in your lifetime.
Now the fact is this will never happen the government or anyone else is going to hand you $250,000 tax free and not have to pay it back right! Well that is not completely accurate because there is a program that is complete for seniors who are over the age of 62 and have work hard to keep their homes. These same people are the ones who built this country and they deserve to have a program that will give them back some of the money they given up because of what the greedy investment and company owners have taken away. This exclusive program has over the years receive good and bad press and the real truth is that the people who say negative statements are most likely the same people that took you r money in the first place. The program is the Reverse Mortgage, this program gives the availability to take a portion of the equity you have in your home and use it tax free and you never have to pay it back in your lifetime. In many situations people are able to take care of the mortgage that they currently have and pay if off completely and eliminate payments, which in turn increase their income dramatically.
In other case where people who do not have a mortgage they can have a large sum of money to use anyway the see fit to use it or they can choose to have a month check for the rest of their lives no matter how long they live. They can also have a combination of choices as to how they want to receive the money over years or they can just have if something comes along in the future. Yes there are people that say that the cost of a Reverse Mortgage is very expensive; but the fact is very simple the cost of doing nothing and just stressing your life over things that you cannot control it more expensive then the cost of receiving a lifetime of piece of mind. Not to mention the cost of a Reverse Mortgage is not and upfront cost it is spread out over the life of the loan already though it comes out up front from the total proceeds.
Now here is the simple way to determined how much money will be obtainable to you gross! If you are currently at the age of 65 and you have your home that you owe nothing on take your age and minus 5 years and this would be the estimated gross amount you would receive percentage wise about 60% of your homes value and from that the cost of the loan closing cost and insurance is deducted which on the average is around 10% in the first two years. Remember this; the longer you stay in your home the less it will coast over years, meaning additional to the loan balance. Since you are going to be able to stay in your home for the rest of your lives without have to make any payments ever again other then taxes and insurance you will not only have more money but you will have less stress in your life and live longer and have a better quality of life in the year that you should. So think Reverse Mortgage and don’t let the negative people sway you from enjoying what you worked so hard to unprotected to they have already taken away the other parts that you work hard for over your life.