I was surprised at first to read that older Americans were vulnerable to foreclosures, but then I read that the majority of them had subprime mortgages.
This is becoming a sad reality. Elderly Americans who worked hard all their life and anticipated a financially secure retirement are now having to scramble to make that a reality. I have to wonder here whether or not this has anything to do with the fact that in some cases, the children of these people appear to require financial assistance for a longer period of time today. Parents today seem to be empty nesters at a later age than in the past. Some chldren even move back home because they are unable to make it on their own in today's economy.
1 comment:
This is becoming a sad reality. Elderly Americans who worked hard all their life and anticipated a financially secure retirement are now having to scramble to make that a reality. I have to wonder here whether or not this has anything to do with the fact that in some cases, the children of these people appear to require financial assistance for a longer period of time today. Parents today seem to be empty nesters at a later age than in the past. Some chldren even move back home because they are unable to make it on their own in today's economy.
Post a Comment