Especially when it comes to retirement savings in the 21st century. Many of our Mothers are in their 70’s and 80’s now, their retirement world is, and has been, much different than ours will be. Many of our Mothers did not work outside of the house and depended on our Fathers for their complete financial wellbeing. Our Parents put a lot of money into their homes knowing that they would appreciate greatly; they could sell the home and retire in fashion without a care in the world. Our Mothers also lived life to the fullest because they did not know very many people who lived beyond their late 70’s. We live in a different world and cannot afford to follow in our Mother’s footsteps when it comes to retirement planning.

We must assume that our homes will only appreciate 3 – 5% a year. Depending on when we bought our homes, we may never pay them off. A Reverse Mortgage has become the mortgage payoff tool for many of the baby-boom generation. We are also seeing that life expectancy is much greater now for our Parents as well as for ourselves. This fact alone is the primary reason everyone needs to start saving and investing at a much younger age and until the day we retire.

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