I'm Afraid I'll Outlive My Money

Do You Lose Sleep At Night Worrying That You Might Outlive Your Money? Do You Fear That You Will Burden Your Family In Your Old Age?

If you're a person that grew up with the mentality that all debt is bad debt and that it is your obligation to leave sizeable assets to the younger generation..

Then maybe it's time for an attitude adjustment.

What if I said to you; "How dare you spend your IRA money during retirement. How dare you spend that pension money during your retirement. How dare you spend that CD money during retirement. How dare you spend the money in your mutual fund or annuity account."

No doubt, your answer would be something like this; "Those are my retirement savings, they are supposed to be used to support me during retirement and supplement my social security income. After all they are my 'nest egg'."

If that's the case, then why should you think of your home equity as anything other than part of your overall nest egg? Your home's equity is a big chunk of your net worth and should be viewed by you and your heirs like any other part of your overall portfolio. After all, you made monthly contributions to your mortgage lender, probably for 30 years or more, just the same way that you made monthly contributions to your IRA, 401K, pension plan, etc.

Reverse Mortgage for Seniors

If, by taking out a reverse mortgage, you will not be forced from your home no matter what, and you don't owe the bank a penny in payments while you live in your home, then why should you be afraid to liquidate some of this asset? You're not afraid to liquidate the other assets in your portfolio. In fact you feel downright entitled to spend that money. Why would you consider struggling financially in your later years so that you could leave a home to your heirs that they are most likely going to turn around and sell anyway?

If you have raised your children with values, provided them an education so that they can earn their own way in life, why would you feel obligated to leave them your house?

In most cases, the kids don't want your house. They would prefer to see you comfortable and happy during your retirement years rather than have you go without so that you can leave them the proceeds from your home. If you don't believe me, ask them yourself. Most will say, "No, I'm fine. Take care of yourself, be happy, enjoy yourself, I don't need your money or your house."

It's time to re-think your mindset about the importance of leaving large assets to your heirs. Your house, or the equity trapped in it should no longer be viewed as a "sacred cow." You may have read or heard of the best selling book from a few years back, called "Die Broke". The authors dedicated the book to their heirs. (tongue firmly planted in cheek, I'm sure.) Seriously, you get the point being made here. You really should take a good hard look at the possibility of adjusting your thought process about what is important to you and what your kids really want for you and from you at this stage of your life. Why shouldn't your house pay you back for all the money you put into it over the years.especially with the guarantee that you can never lose the roof over your head? Unlock your trapped equity and create a tax free stream of income for yourself during your golden years. Enjoy life! Joie de vie!

Find Out Today If You Have Enough Equity To Qualify For A Reverse Mortgage