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Reply to "Reverse mortgage retirement plan?"
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[quote=Anonymous]I’m a 48 years, single, no kids, never married, in a HCOL city. For retirement I currently have 100k in savings, my condo is paid off ($450k), and will inherit about 1 million. I earn about 100k a year but my job is very physical and once I hit my 50’s ageism will make things hard for me. I’m wondering if a reverse mortgage would be a good retirement plan for someone like me, who doesn’t have heirs? Or would you sell and just go rent in North Carolina or something? I feel like I won’t be able to get hired once I’m in my 60’s, so need to plan to retire about 60. Wait for social security until 67. I’m used to living frugally because I’m one of the DCUM poors. Do you think I’ll have enough? Or do I need to find a way to keep working in my 60’s? It’s so hard doing it all alone. [/quote]
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