Working with Baby Boomers II
This is a very good viewpoint about how Baby Boomers are starting to think about their shrinking retirement dollars and the costs of maintaining a large McMansion, something we can address in many areas. A smaller home, maybe a one story? Thanks Charlie for providing this post.
There was not going to be a working with boomers 2 except for a headline I saw in business week. The headline read Boomers Nest Egg Shrinking.
So the question is should you dump working with boomers? The anser is no. My blog gives some great strategies for working with boomers. But if the nest egg shrinking is the case now more then ever there are some things you should focus on.
1 Down sizing means smaller areas to heat and cool. This is something we fail to stress. In the general scheme of things boomers say they want to downsize so they have less to take care of. In Boomer code this can often mean things will cost less
2 Look seriously at a reverse mortgage. A boomer moving to your area selling a 200,000 home may want to buy a 200,000 home to avoid a mortgage. Work with them and have them pay 150 for that home have 50K in reserve and if the math works right get a small check every month
Look for the value and the overall cost of living in your area along and you will be providing a great service and successful in working with this demographic
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