Seniors and Politics

I listen to talk radio when I am in my car. I like the callers and radio hosts opposing views and this year I have really enjoyed following the presidential race. It has been anything but boring. Now less than 45 days from electing a new president, things are really heating up.

Today I was listening to a national radio show, and they kept commenting on how the “Youth of America” is really going to make a difference in this year’s election. I hear this often. I am sure that younger voters are making a difference in this year’s election, but I came into the office wondering what impact older voters will have. Seniors. The baby boomers. What is the turn out like for them? What are the key issues driving this demographic to vote? I looked online to answer these questions and I am very surprised at some of the facts I found.


This year they are predicting a record turnout of more than 135 million voters in the U.S. presidential contest. Seniors are still going to make up an astounding percentage of the voters in this country. Did you know that Senior Citizens are are the most reliable group to vote in American elections?

In fact, the nonpartisan Center for the Study of the American Electorate at American University in Washington, said seniors vote at a rate of about 60 percent more than young people and about 10 percentage points higher than the national average.

Seniors are the only group in America that has been increasing its rate of voter turnout, especially in the 75-and-older range where modern medicine is keeping people alive longer.

What are the key issues that are bringing seniors to the polls? Many of them are listed in a great movement titled "Divided We Fail" which is supported by the AARP.

The concerns of seniors today are:

• Social Security
• Health care
• Prescription drugs affordability
• the Economy

In my opinion, the economy will take center stage on this upcoming vote. The current crises in the housing and financial industries and their effect on the nation's economy is of particular concern to mature Americans who, according to AARP The Magazine, own three fourths of all financial assets in the United States and account for almost half — $2.1 trillion a year — of consumer spending. These numbers cause me to think that while the youth is an important demographic in this election, the candidates best not discount the seniors of America.

The 55-plus age bracket make up 39 percent of all 135 million registered voters and 46 percent of the 90 million of those likely to go to the polls (based on Census Bureau figures from the past two elections).

What will influence your decision vote most this November 5th? What issues do you feel most passionate about?

If you are not registered to vote, be sure to do so. For more information on registration to vote, follow this link. VOTE 2008

Questions Reverse Mortgages or any other related topics, please contact me today.

Baby Boomers and Assets

The Reverse Mortgage is becoming a more popular form of financing, especially for Baby Boomers.

Today I found an article regarding Baby Boomers and the number of them going into retirement. Did you know that by the year 2030, studies by the US Census Bureau show 1-in-5 Americans will be 65 or older? This is quite a percentage of our public in retirement. There are 78.2 million baby boomers in America today.

I would think that these boomers have many concerns. One recent study I read showed that, as the baby boomers are getting older, they are finding themselves facing many issues. Health, finances, and more often, they are facing the issue of elderly parents. In my own family, my parents have taken on the responsibility of caring for my grandmother vs. her being in a nursing home or assisted living. The next challenge for them may be their own desires to retire in the next 5 years.

One other growing concern for boomers looking to retire is the amount of money needed in reserves for the lifestyle they wish to maintain. Studies show that the oldest of the Baby Boomers today are best prepared, while middle-class people now retiring face a 24% cut in their standard of living.


Have you asked yourself... "How does my retirement plan look?" With the very real possibility of living to age 90 or 100 combined with the volatility of inflation and investment returns, there is a very possible risk of outliving ones assets.


I'd encourage you to contact your financial advisor to see if your plan is stable and to visit possible future scenarios. Also know that I am a true believer that a reverse mortgage can be a great tool for you to unlock your monthly income potential by eliminating your mortgage payments. Be sure to contact me if you would like more information or a one on one evaluation of your homes potential.

Retired? What are your priorities?

Two things come to mind when I reflect on spending time with my grandparents as a child. One is that they always jumped at a chance to have my sister and I come see them. Second was that their home in the country was so well kept. The landscaping, the flowers, the pond, and all the trails in the woods were awesome.

I truely enjoyed spending time at my grandparents home.

Today I read an interesting article about the priorities of retirees'. I learned that my grandparents may not be much different than most.

A survey conducted by Thrivent Financial asked over 800 adults between the ages of 60 and 74 what they would rate their top 6 everyday activities to be.

No surprise that men rated "working in the yard" #1 (28 percent) where as women surveyed rated "Spending time with grandchildren and family members" the top of their list (36 percent).

While these two activities were in the top two for both genders, the remaining 4 activities they listed, closely mirrored one another in level of priority. These 4 remaining items were:

• Enjoying things like playing golf, shopping, and going out with friends.
• Pursuing hobbies
• Volunteering in the community
• Watching where your money goes, clipping grocery coupons, etc.

Another interesting survey result was that the average income for these retirees' ranged from $40,000 to $79,999.

If you were to list your top six past times in retirement, would you place the same importance as this survey?

To read more on this survey, the full article can be found at this link. Full Article.

If you are getting closer to retirement, and thinking of your top 6, contact me today and lets discuss your current mortage and debt positioning.