Monday, June 23, 2014

The Pros And Cons Of A Reverse Mortgage

A new survey reveals Americans are worried about their personal finances. The National Foundation for Credit Counseling® (NFCC) reported in a March, 2014 survey that 71% of Americans are worried about their financial situation. They are worried they don’t have enough savings for emergencies and equally concerned about having enough money set aside for retirement. It’s hard to believe, with those worries in mind, that adults who are spending less than the previous year continues to decline from 57% in 2009 to 29% in 2014.
In New Jersey, a recent Fairleigh Dickinson University PublicMind poll found that 52 percent of the state’s non-retirees want to spend their golden years elsewhere, while just 32 percent want to stay in New Jersey. By far the most highly cited reason for wanting to leave is the state’s high cost of living, including taxes. I suspect they feel they will be priced out of their homes.
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