Record Number of Older Americans Working

As life expectancy gets longer and longer, the age of retirement is getting pushed back, too, with the highest number on record of Americans aged 85 and up working, an analysis in the Washington Post presented.

“Overall, 255,000 Americans 85 years old or older were working over the past 12 months,” writes Andrew Van Dam. “That’s 4.4 percent of Americans that age, up from 2.6 percent in 2006, before the recession.

So, you’re retired and you want to “fix & flip” a house for sale or rent?

Some of you are retired and  you’ll need some extra cash to make ends meet. You can build some rentals or build to sell. But you will need some cash to pay the construction bills.

Construction loans for new-built homes are either obtained by the homebuilder or prospective owner. In pre-recession days, small builders had greater access to capital but now must frequently put the onus on the buyer to get the loan. That’s one reason most new homes rising today are simply “specs” built by big, high-credit corporate conglomerates.

Give gifts from your home equity “BANK” and never make a payment or lose your home.

Do you realize you are sitting on a pile of money you could spend after 62 hiding in your home equity — money you wouldn’t pay tax on and for whatever reason you can imagine? (what a relief it can be). So, it sounds too good to be true and you don’t believe it. That’s OK, that’s the way with this kind of deal — it’s hard to believe it — and you’ll be pinching yourself to see if you are awake.

Hmmmmmmmm. The critics will tell you it’s a crock and you shouldn’t do it. Yes, there is critics and they don’t believe it. What about you? Will you let us explain how it works. That will help you get your feet back on the ground?

How Can Older Workers Stay in the Game?

So, you retired, and a lot of your friends retired. It didn’t take long to see how difficult it is to retire without enough financial resources. No pensions. No large 401k to cash out. What can you do about it? Besides the usual list which may include scaling down your lifestyle,  you can take out some of your home equity with the use of a HECM mortgage to provide additional cashflow. Pay off the mortgage and reduce the overhead.

But even with those adjustments, some will consider staying in — or going back into — the workplace. There are challenges initiated by the changing workplace as evolving high tech skill sets overwhelm those not adequately trained.