Outliving savings
This morning I was listening to a Reverse Mortgage podcast and it really stuck a cord with me; out; outliving savings I think most people ignore the fact they will outlive savings with modern medicine or think something else may help. But if you are like me without a company 401k. You can take out an IRA and put 5.5 percent each year into it. If you do that match keeping in mind, most of us don’t think about this until we are 30. Then I learned something I didn’t know. The money put into your IRA is no taxable. But in retirement the funds start coming out and they are taxed!!!
One thing that is for sure, I wish I had a job with a big company or a government job or school. The big companies share in your 401k, and the government jobs and schools have 401k’s lifetime health insurance.
For those of you baby boomers that may need some supplemental income at retirement now or down the road call for information on how a Reverse Mortgage can be set up to pay monthly payments for life.
I can be reached at Birmingham (205) 908-2993, Huntsville (256) 677-9767, or Mobile (251) 230-2555 or info@reversemortgagealabama.com.
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