The baby boomer generation is currently facing something that they've been looking forward to for many years: retirement. While this is an exciting time of life for people, it's also a time that can be more than a little bit scary. That's because there is a sense of financial insecurity during retirement for this generation that didn't exist for their parents and grandparents.
CNN Money recently released an article touching on this issue. In this article, it is suggested that most baby boomers do have enough money to retire comfortably if they have not only a retirement income plan but also a Plan B. The article also suggests that the Plan B for many baby boomers might just be the reverse mortgage.
The problem is that the retirement 401K simply doesn't cover the cost of mortgages and debt that many baby boomers still face as they enter retirement. Tapping into home equity may have been unheard of for this group's parents and grandparents but it's what makes the most sense for the baby boomer generation.
Question of the Day: What do you wish was different for your retirement?
