A New York Times analysis of financial data has shown something that may come as a little bit of a surprise: elderly Americans not only weathered the recession better than most other Americans, but actually have improved their position. The 25 million Americans in the nine year age range from 65–74 are, as a group, already better off than that same age group in previous generations. CNBC has a pretty good, long-read article that adds a lot of nice color to this phenomenon, and to changing demographics in general. It’s worth checking out when you have 15 minutes for a nice read.
Never mind the preposterousness of being threatened with jail time for not mowing your lawn, this is a great story. If you have elderly neighbors, take the opportunity to teach your kids some community spirit, and make sure they’re at least offering to help out their neighbor. Even without the threat of jail, there are probably many people in your community that could use a helping hand, whether it’s mowing the lawn, or running to the store for groceries, or putting a new coat of paint on the house. Helping out our neighbors used to be the American way — let’s ensure it stays that way with the next generation.
This blog has covered reverse mortgages a couple of times recently — both in terms of pitfalls, and in terms of the benefits you can get. And truthfully, depending on circumstances, reverse mortgages can be a great idea. However, The New York Times points out that despite trying to crack down on misbehavior, there are a number of inaccurate and potentially misleading ads running. So, this is an extra warning — before you jump on a reverse mortgage based on something you’ve seen in an advertisement, make sure you do your research and double check the facts.