The Three Horseman of the Retirement Apocalypse

horsemen of the retirement apocalypse

The Three Horsemen of the Retirement Apocalypse

There are three things that commonly wipe out retirees’ savings or at least ensure misery and worry throughout one’s retirement. Let’s call them the three horsemen of the retirement apocalypse: credit card debt, health emergencies, and overspending. Unfortunately, it’s not uncommon for one or more of these dark riders to invade the lives of older Americans living on a fixed income. The first is…


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Spendthrift Risk & Negative Interest Rates

ePath 100K RM leads

Spendthrift homeowners pose a risk

I’ll never forget it. As I drove down the wooded driveway I saw it- a 40-foot used RV. I was a bit perplexed as I approached the front door of the couple who had inquired about a reverse mortgage the week before. There was no application submitted or even completed for that matter. I quickly learned they assumed their loan would go through and decided to buy the RV to treat themselves for an upcoming family reunion. Sadly they didn’t qualify.

The lesson? The poor spending habits of older homeowners not only continue after they get a reverse mortgage, but are often one of the largest contributing factors why they needed to eliminate an existing mortgage payment in the first place...