House prices have increased at a much faster rate than income since the mid-1990s, which has led to three times the amount of people carrying mortgages and debt into retirement.
When you pair this with the ageing population, it leaves many retirees strapped for cash, in what is supposed to be their ‘golden years’.
The problem with debt in retirement is that retiree income is capped. With many living on the pension alone, it can be hard to pay for anything other than the basics.
It is often not enough to continue paying for a mortgage or other debt repayments, let alone living a comfortable retirement, free from financial stress, which is what many retirees hope for.
Some may try to bandaid this…
Read the full article at: https://www.bendigoadvertiser.com.au/story/6913891/experiencing-debt-in-retirement-a-reverse-mortgage-could-help/?cs=140
House prices have increased at a much faster rate than income since the mid-1990s, which has led to three times the amount of people carrying mortgages and debt into retirement.
When you pair this with the ageing population, it leaves many retirees strapped for cash, in what is supposed to be their ‘golden years’.
The problem with debt in retirement is that retiree income is capped. With many living on the pension alone, it can be hard to pay for anything other than the basics.
It is often not enough to continue paying for a mortgage or other debt repayments, let alone living a comfortable retirement, free from financial stress, which is what many retirees hope for.
Some may try to bandaid this…
Read the full article at: https://www.bendigoadvertiser.com.au/story/6913891/experiencing-debt-in-retirement-a-reverse-mortgage-could-help/?cs=5920