Fixed-Income Seniors Helped by Low Interest Rates

  • Bonnie Spindler
  • 10/16/12
My mom has the benefit of a pension and social security. She and my Dad had heard all about the depression from their parents and worked their whole lives to pay off their home loan.

Many boomers, who bought homes during the go-go times, and who used their homes as a piggy bank, are not in the same boat. They have large home loans and lower incomes to offset the mortgage interest. The low interest rates have been a boon to them, making retirement easier and more comfortable.

The same goes for seniors who still owe on their homes or who use reverse mortgages to live on. The low interest rates give seniors more years to live off their homes.

To learn more, or to jump on the bandwagon, read this Chicago Tribune article.

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