One survey said 80% of seniors want to stay in their home for the rest of their life. Really, only 80%, I would have thought it would be 100%. Is staying in your home for the rest of your life important to you?
If it is then continue reading.
Staying in your home for life is much tougher to do now that it was for your parents or grandparents. Life expectancies are up- a 65 year old woman has a life expectancy of 83 and a 90 year old today is expected to live almost another 8 years. With that longer life expectancy comes a much better chance we will need some type of long-term care.
Historically the term "long-term care" (LTC) meant nursing home care. That is not the case today with the advent of in-home care and assisted living. So when you hear "long-term care" it includes all of the above. One study showed that there's a 60% chance we will require some type of LTC, and if we are going to live longer it makes sense that the length of time we might need LTC could be extended.
There are different schools of thought regarding LTC. One is to self-insure which means you feel you have enough assets to pay for it as long as you need it. The next is to buy LTC insurance, but so many feel the premiums are too expensive to afford in retirement. The last school of thought is to depend on the government- Medicare and Medicaid.
If you are looking at the last one, please rethink that plan. If you think that's the only way you can go talk to someone that knows more about other options. When was the last time you heard someone say how good their experience was with the care they received thru Medicare or Medicaid?
What if there was a way for you to prepare yourself for the possibility of LTC that would allow you to stay in your home for as long as possible, have no mortgage payments for as long as you are in the house, while you are in the house you never give up ownership, and it didn't impact your monthly expenses at all, would that interest you?
If you think that sounds pretty good to you then you need to look into some of the advanced strategies involved with Reverse Mortgages. These are strategies that very few even know about.
If you would like more information about Reverse Mortgages contact Kurt Jackson he is a Certified Mortgage Planner with more than 17 years of industry experience and would be happy to answer your questions about Reverse Mortgages. He even conducts a Free Seminar "Insider Secrets Revealed! The Truth about Reverse Mortgages: Is a Reverse Mortgage Right for You?" They are held every Thursday at 1:30PM at 12 Westwoods Drive in Liberty. Seating is Limited. Call for reservations at 816-415-1737 or email kurt@stayinyourhomekc.com.
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