2006-11-12 19:19:34 · 8 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Quite likely, as we can't afford to fund the future pensions (Government), the way pop. incomes are going.
Will
2006-11-12 19:22:09 · answer #1 · answered by b r 4 · 0⤊ 0⤋
With the lack of emphasis on savings that has been prevalent in this country I don't see this changing. Many people use and have been using the equity in their homes for retirement. This is called a reverse equity mortgage.
If people learned to save a decent amount of their earnings they would have a much easier time in retirement and many more options. Savings is something that needs to start when you start your career not when you reach your peak earning years.
2006-11-13 00:14:51 · answer #2 · answered by waggy_33 6 · 0⤊ 0⤋
Well, those who were unable to save any money in IRAs and 401K retirement plans may well have to live off the equity in their homes. My mom is 79, and yes, I just had to file bankruptcy for her and set her up with a reverse mortgage to increase her monthly income. I hated doing it, but what time she has left should be spent as quality time if possible, and no, I don't make enough to help her out too...so reverse mortgage was really kind of a blessing in her case.
2006-11-12 19:30:16 · answer #3 · answered by Barbara W 3 · 0⤊ 0⤋
NOT possible at al as the goverement willlhave to take measures to control any kind of inflation that might occur and also U need to invest for ur future so that u dont waste time in earning when u are retired ,, get a good insurance or a pension plan that will help u in future save money for ur self
2006-11-12 19:29:33 · answer #4 · answered by sam 1 · 0⤊ 1⤋
Not really, if all will start thinking and planning about retirement right from their young age.
Make Money While have fun
http://tinyurl.com/yhzzph
Making your spare time Valuable
2006-11-12 21:59:19 · answer #5 · answered by Lets grow together 2 · 0⤊ 0⤋
What do you mean "in the future" its happening right now!!!
2006-11-12 19:48:07 · answer #6 · answered by Anonymous · 1⤊ 0⤋
Yes - as many elderly people have to do today.
2006-11-12 19:29:40 · answer #7 · answered by ♥Robin♥ (Scot,UK) 4 · 1⤊ 0⤋
its possible. try it.
2006-11-12 19:24:06 · answer #8 · answered by Nnamsco 3 · 0⤊ 0⤋