Reimagining Retirement: How 2022 is Shaping Your Golden Years
Today’s retirees face many challenges, compared to their parents’ generation — especially around their finances.
It’s a time of uncertainty. The year-over-year increase in consumer prices hit a 40-year high of 8.6% in May, a worrying trend for anyone hoping to retire soon. Will the buying power of my savings continue to take a nosedive? Will my 401(k) stretch as far as I planned?
The good news is retirees and pre-retirees are taking the news in stride. Despite the financial reality, there’s a sense of hope and optimism.
According to the AARP Second Half of Life Study, happiness increases with age. In fact, 34% of adults age 80-plus and 27% of those in their 70s report they are “very happy” while just 16% of the 40-49 demographic agrees. What's more, anxiety and stress diminish with each passing birthday.
So what’s the secret to finding joy and contentment? The study revealed these three lifestyle hallmarks that happy retirees share:
They’re not counting their birthday candles. When it comes to a hypothetical pill to slow aging, the older the person, the less interested they were in a magic anti-aging solution. While 72% of adults age 60-69 would pop the pill, only 60% of those 80-plus would consider it. Instead, they’re more concerned with staying active and living a fulfilling life now.
They find joy and purpose in their relationships. The study found that family, friends and social connections within their community are the secrets to happiness. As people reach their 70s, relationships grow more important, continuing to strengthen into their 80s as financial and well-being worries taper off.
They’re satisfied with the present. Older Americans are stressing less about possible financial challenges they may face down the road. They’re choosing health over wealth, spending their time doing the things they enjoy with the people they enjoy most.
But if inflation and its potential impact are tainting your optimistic outlook, you’re not alone. Seventy-one percent of Americans have the same concerns. Luckily, there are steps you can take to help keep your retirement on track. And if you’re an older homeowner, you may also benefit from a reverse mortgage loan.
Align your plans with reality
When it comes to retirement financial planning, a reverse mortgage loan can help you create a strong offense against inflation, while making your financial retirement goals more attainable. This financial tool gives you the freedom to leverage the home equity you’ve built up over the years as a †lump sum, monthly payments or a line of credit, all while continuing to live in and own your home.
To find out more, call Reverse Mortgage Funding, LLC (RMF) today at (888) 277-1567. We’ll set up a convenient appointment with a loan specialist local to you. And don’t forget to download our free digital guide to learn how a reverse mortgage can help you meet your retirement goals.
This content is sponsored by RMF, one of the nation’s leading reverse mortgage lenders. We are dedicated to helping older Americans retire more freely, in the comfort of their own homes. As a result of our commitment to providing an extraordinary and positive customer experience, we have earned a 98% customer satisfaction rating; a 4.5-star / Excellent score on Trustpilot; 4.8 out of 5 stars on LendingTree; and an A+ rating with the Better Business Bureau. Call 888-277-1567 to speak with a licensed reverse mortgage specialist to learn about our retirement financing products and solutions.
†Borrowers who elect a fixed rate loan will receive a single disbursement lump sum payment. Other payment options are available only for adjustable rate mortgages. In certain states, RMF’s EE loan provides a fixed-rate term payment option.