• PensionersPensioners and Money: Serious Long Discussions Are Often Needed

    My parents arrived in Canada with a suitcase, $100 and a dream. They had survived the depression but due to those tough times, their norms were set for the rest of their lives. They worked and saved, but they were afraid to spend – especially as Pensioners. As times got better, baby boomers begin to spend. Most financial experts also agree that one of the biggest changes we have seen is Pensioners retiring with debt.

    Rule #1: Educate Yourself!

    One of the first things the older generation of Pensioners can do is to educate themselves, ask questions, talk to an expert and face their situation. Canadian Pensioners are in fear because if they are cash strapped, they are not ready for illnesses or repairs to the home on their limited income. The big issue is stress where many are embarrassed or too proud to seek assistance. Recently we had one older gentleman Pensioner who was eating out of cans every day.

    Your Home Is Your Gold Mine

    For many Pensioners who own their home, they are sitting on a gold mine: their paid off home which has generally appreciated in value. In an environment where pensioners enjoy staying home but cash flow is tight, the reverse mortgage option can help a crisis from developing. Approach this lack of liquidity proactively and discover whether this reverse mortgage product is right for you

    Robert Floris of Mortgage Architects will be happy to provide an honest, no obligation consultation to explore if Reverse Mortgages is right for you!

    Robert Floris is a Mortgage Broker. His office is located at 651 Fennell Avenue East in Hamilton, Ontario. If you would like to speak with Robert, he can be reached at 905-574-9200 #215.

    Please click here to email us,  make an appointment, receive an online assessment.

    If you would like to see our Google reviews or leave one yourself, you can do so here.

    Thanks for reading!