Older people in the US are increasingly taking more mortgage debt into retirement than ever before, but applying for a new mortgage can prove troublesome for seniors. This is also the case in the United Kingdom, where new rules that were introduced earlier in the year have meant a greater struggle to gain finance for home buying in later life.
Do your new year’s resolutions include getting your financial plan in order? Look not only at where your money is going, but who is helping you decide how it gets there. If your new year means you need a new approach, look at finding a new advisor. Here are some reasons to consider making a change.
You don’t have one
Despite being called the ‘Golden Years,’ retirement is not always easy. The combined challenges of saving enough to live on, frequently declining health, and limited mobility can make retirement a difficult period for many people.
According to a 2010 survey from Allianz Life Insurance Company, Baby Boomers in the United States shared that their biggest retirement-related fears were a combination of health and financial concerns, with the apprehension of outliving their retirement savings topping the list,