Happy 100th Birthday! Your Life Insurance Is Now Canceled
As more Americans live past age 100, they are confronting a disappointing realization: Their permanent life insurance gets canceled. The age limit wasn’t a problem when few people lived past 100, but the U.S. population of centenarians has grown in the past 30 years with advancements in medical care and lifestyle changes. There were an estimated 53,364 centenarians in the U.S. as of 2010, up from 37,306 in 1990 and 32,194 in 1980, The Wall Street Journal reported, citing U.S. Census data. Read More Here
And now on to our main article for the month…
Recently I read an odd article. It stated that Millennials couldn’t find homes to buy because baby boomers aren’t moving out of the homes that they raised their families in. The theory was that the 50+ crowd wasn’t moving because they didn’t have any place to move. Here are a couple of sections from the article: “People 55 and older own 53 percent of U.S. owner-occupied houses, the biggest share since the government started collecting data in 1900, according to real estate website Trulia. That’s up from 43 percent a decade ago. Those ages 18 to 34 possess just 11 percent. When they were that age, baby boomers had homes at almost twice that level.” “Public policy contributes to the generational standoff. Property-tax exemptions for longtime residents keep older Americans from moving. Zoning rules make it harder to build affordable apartments attractive to senior citizens. “The system is gridlocked,” says Dowell Myers, a professor of urban planning and demography at the University of Southern California. “The seniors aren’t turning over homes as fast as they used to, so there are very few existing homes coming online. To turn it over, they’ll have to have a landing place.” source: Bloomberg.com It’s true that a lot of people in the 50+ range are considering moving for a whole variety of reasons. And for most of us, it’s a very personal decision. If you’re considering downsizing now (or in the future), we’ve assembled some helpful articles for you. – Is Downsizing In Retirement Right for You? – The Art of Downsizing – Does Home Ownership or Renting Make More Sense In Retirement? Hope that you find one or more of them helpful!
However, if you’re now downsizing or moving to a warmer climate or a state which is cheaper to live such as Arizona, let us know as we can help you store your contents while you prep your home for sale or perhaps purchase some of your private collections.
Thanks to Perfectus Elder for sharing this bit of humor…
- I don’t plan to grow old gracefully. I plan to have face-lifts until my ears meet. Rita Rudner
Resource Roundup – Share with your friends!
Recession Proof Your Family Finances Will your family be prepared if the economy takes a turn for the worse?
|How to Avoid Medicare Mistakes|
|Don’t jeopardize your financial or physical health. Read more.|
A complete financial plan covers more than just investments. It also covers taxes, insurance, wills, trusts, etc. Not all planners include those areas. If you do hire a planner, make sure you understand exactly what services you’re buying. For additional information: – Finding an Honest Investment Advisor – Financial Planning for Seniors – Give Your Finances an Annual Check-Up
[Call us to sell your goods or if you have an entire estate to sell, call our friends at Rowley Auctions]