Mitigating Long Term Medical Cost with a HECM
Just under 80 million baby boomers (born between 1946 – 1965) live today in the US. Every day, 10,000 boomers turn 65 years old. Boomers will likely live 2-4 years longer than the preceding generation (the Traditional Generation). Quality of life factors like interest in physical fitness; active engagement in life post retirement; encore career and heavy volunteerism; close relationships with children and grandchildren; and a cultural sense of optimism drive the boomers’ extended longevity. Due to this extended life expectancy, the boomers will likely require more long term health care as they age.