As a child your parents worried about your well being the looked after you the provided for you, and put your interest ahead of their own. They made sure that the kids came first, now the kids should make sure the parents come first or at least not worry about what they are going to get when the pass away.

To many children of seniors and the senior’s themselves are too concerned over what is going to be left when their gone.

In this country what we are experiencing with the economy, from food, medicine, medical, fuel, and the major financial meltdown we need to think about of seniors survival. If there should be anything left over for us to leave our children they should look at it as just what it should be a gift.

Some 25 years ago; I look at the assets of my parents and did some future planning with them, and decided that what they had was theirs and they should not care about what they left behind for us kids. I personally told not to put me in the will that I wanted them to use every dime they could for their enjoyment of life in their retirement years.

With the country in shambles our parents are seeing the worse economic times in their life, and they most likely will not see it turn around in their lifetime, this is true for many who are in retirement. They have seen their homes deplete in value, their pension disappear and the cost of living triple in the last few years. So as children of the senior we should be looking of ways to alleviate some of the pain. So what to do to help? If you are really concerned there is one place that can still give them some income to help with survival the Reverse Mortgages. I hear it all the time when I sit down with seniors to discuss how they can free up some money to live, when the children are involved there is in many cases ignorance from the children that they are throwing away money.

The problem with the children of seniors is that they are not looking at the hole picture they are looking at it from their position and not placing themselves in a retired situations with limited funds and no way of increasing it in the future. If they stop and place themselves in the parents place they would understand what it feels like to be stuck.

The Reverse Mortgage program is a way for the parents to remain in the home for the rest of there lives and feel comfortable that they have money to live. Now here is the real kicker that most don’t even think about, what if Mom or Dad or both need Elder Care in the future? How would they be able to care for their parents where would the money come from and who would take care of them? In most cases they have no idea the cost associated in caring for a parent, even if they move in with the children the affect on their lives will be dramatic not only financially but emotionally.

If a child takes the time to understand the benefits of a Reverse Mortgage and how it can free up monies not only for today’s living expenses, but with planning they can make sure that the parents have enough money set aside for future care. All too many times most people are thinking about today and not looking ahead, the cost of elder care is very expensive and it effects everyone involved and not just with money.

If a plan is designed for the future it could look something like this!

Let’s say the parent’s home is worth $200,000 I will break it down this way.

Home Value Current $200,000

Current Age 72

Current Income $1,400.00 per month

Savings 0

Expenses all sources $1,000.00

Balance $200.00 per month

Now let’s take a look at using a Reverse Mortgage to help with funding!

$200,000………….. Home Value

$140,000……………Funds available

$50,000……………..Initial cash Withdraw

$90,000……………..Credit Equity Account earning interest every month

$ 355.00 per month interest

$99,000 balance after year 1

$127,000 balance after 5 years, this is available for capital withdraw of any amount when needed, but the good thing is that is does not effect any social programs because it is not income.

If you look at it this way!

They have $1,400 per month coming in the door currently which relates to $16,800 per year. The initial cash infusion broken down comes to an additional $850.00 per month of money to live on. And the best part they still have a reserve of $90,000 plus interest sitting on the side to draw on in the future. See the best part of aReverse Mortgageis flexibility there are a number of ways to make sure they have the monies and they can be changed at anytime to fit the need. There is no other program out there that gives flexibility, the ability to earn interest safely and make no payments, along with the ability to stay in the home for the rest of their lives.

Don’t let Mom and Dad worry about what they are going to live you, because if they don’t do something now you maybe saying where am I going to get the money to take care of them. To find out more information on how you as a child of a senior can help your parents or someone else you know to achieve some financial security visit