Did you know there are 10,000 plus seniors turning 65 each and every day?  I consider that number to be an astounding.

A majority of those turning 65 are homeowners.  I have been puzzled just how many homeowners 65 or better own there home and are still under utilizing the usable assets that are within their reach.  The most recent survey I have seen showed estimates that as many as 72% of senior homeowners 65 and older have little or no mortgage.

If you currently have no mortgage or a small mortgage; congratulations!  Many seniors who have no mortgage continue to spend down their reserves in order to maintain their current standard of living.  Many are depleting assets that cannot be replaced. The reality is there are many ways to preserve their current cash (liquid) assets without giving up their standard of living.  In addition there are new ways to secure even more protection of your assets and still maintain your standard of living. 

Many homeowners who have little or no mortgage are utilizing their current built up equity in your home.  I can hear you now saying, “I don’t want to use my home equity, unless it is a last resort.”  This school is thought is old school thinking.  The majority of today’s seniors are savvy and well educated and understand the importance when it comes to protecting their current asset base. 

Here is a list of the major concerns that could destroy and deplete your current asset base:
 
1. Life expectances continue to rise (Will you outlive your current assets?)
2.  Minimal defined pension plan existence (Do you have one now or has it been reduced or eliminated?)
3.  Rising Medical Costs (Drug costs, procedures and costs will continue to rise.)
4. Uncertainty surround government funding of Social Security (Will the deficit undermine the current trust system?)
5.  Entitlement programs such as Medicare and Medicaid (What steps will be taken to increase your share of the cost imposed by a growing number of participants?)
6.  What happens if you have to go to assisted living?
7.  What about protecting the assets you have utilizing available financial and tax planning to reduce and maintain your estate?

Today’s new 65 is bolder and informed when it comes to finances.  Most understand the importance of financial asset protection. 

Your financial advisor can assist you making sure you are provided a hedge against future financial concerns.  But, you must plan now to make sure you are protected.

The real concern for you, if you are 62 or better,  is to evaluate how long will your current financial portfolio will maintain itself before your assets deplete and you have no funds?  What if there is a double down “Great Recession?”  What is the European markets implode? What about oil and food prices? 

Do you have alternatives to today’s economic climate?  Opening up your mind to new solutions and a new approach to your long term financial well being may be worth exploring.

For more information as to how you can better utilize your current asset (equity) pool, please give me a call today.

877-266-9500

If you are like me, you are probably wondering what happened to 2011.  Seems like yesterday it was January 1, 2011.  We’ve all heard the old adage, ‘seems like time flies by faster the older you get.’ I’m sure if that is correct or not, but for me, seems like it does or maybe it’s all in my mind.  Last I heard there are still 24 hours in a day, each and every day of the week, month, and year.  So why is it, time seems to fly by. I have a couple theories: 

1. Lifestyle…its pretty obvious that our lifestyle today is different today than say 20 or even 10 years ago.  No doubt, we are on the go more and busier than ever.

2.  Technology…of course the most obvious thing to come to mind is the computer.  But, that in itself is not it a reason.  What about email, automobiles, cell phones, overnight express, faxes, television, CD’s, DVD’s, MP3’s, POD’s, YouTube and now Blogs (what’s a blog?) Oh boy, all this technology is taking a lot of our time.

3.  Medical…yes, medical treatment has gotten so much better and for that, we can be thankful, but stop and think about our time built around the medical visits!  Can you remember when the doctor used to come to us, and dispensed the medicine in paper pouches? 

I guess I could go on and on.  As the 2011 comes to an end, I am not considering making a New Years resolutions.   I’ve  always thought I’d either forget them or heck, just never live up to them.  But, I am really going to try to make better use of my time in 2012. Family time better spent with wife and children and better time with the grandkids, and maybe even work in a little time for myself.  Of course, giving back some time to the community and hopefully bestow some of this mature mind onto the minds of our younger generations. I’d like to awake each day with a purpose and by the end of day hopefully reflect that I really accomplished something that day.  For sure, time waits for no man or woman.  I hope your time in 2012 is Happy and Healthy.

Do you remember Chubby Checker and the Twist?  Sure, you do.   Now the
Federal Reserve is getting into the act, with a new slant on how to lower mortgage rates and get homowners more cash.  The idea being, that if homeowners are given a chance to lower their mortgage payment, then this in turn would pump money back in the economy, create more spending, and maybe some new jobs along the way. 

Take a look at the video. \”The Fed Twist\”

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