Another of the complicated problems facing the Baby Boomer generation has to do with affordability of home. Pay only property tax and many continue to make monthly mortgage payments while some, who've planned well, have repaid their mortgage. The research on the Boomer population as well as home is concerning.
By all signs and according to a report released by the Harvard Joint Center for Housing Studies on September 2, 2014, "Housing America's Elderly Adults," home will end up an issue on the basis of the projection that by 2030 the variety of adults age 65 and older will be 73 million, more than double the number in 2014.
The problems appear as an outcome of many variables that are different, not only because of the reality of the size of the unique people. While the family budget of working age Boomers burdened with debt, generally covered; all that's changed. We see these same over-50 individuals trying to make do in an extremely different economic environment. The combined variables of less savings, more credit card and auto loan debt (than their parents'), defined-benefit retirement plans rather than business pensions, fixed incomes, as well as a skyrocketing expense of living, have establish the private market of Boomers on tilt.
It is not a pretty image. The Housing America's Elderly Adults Report supports these realities when it also projects that over the next 10-year span there will probably be a 40% increase in the amount of 65 families that can reside below the poverty level of $15,000. from 2014 One decision made by the writers of the report is the fact that a sizable percent of Boomers will need to dig in their monthly home funds to cover the ever-increasing prices of transport, food and medical bills.
But will they have the ability to maintain their houses?
No huge surprise, that as it pertains to options, the writers focus on the failing of the U.S. Government (government support) for "low income" seniors instead of addressing the complete failure of the monetary system itself. Not finding the woods for the trees, unfortunately, authorities is a portion of the issue, the way its systemic cash mechanisms erode purchasing power for the 99% and colluding with central banking.
For this very reason, looking forward to the authorities to do the right thing for you, for your "retirement," is similar to asking the fox to guard the hen house. Not only is it not going to occur; it's impossible in order for it to take place. Why? The political system (authorities) doesn't have decision making power over the monetary system. While the present monetary system stays undamaged, we'll continue to come particularly in our later years, irrespective of the way entitlements might raise. It is mathematical fact, not opinion.
By modernizing our fiscal IQ observing the writing on the wall turns the spotlight back to every one of us. Reinspirement™ is the light in the end of the tunnel, and replaces retirement. The more Boomers who establish an example and get it going, the simpler it'll become, particularly for the following generations who'll want it more.