A new report revealed that 61 percent of surveyed Americans said that they want to age at their current home, whether they have to live alone or not. The poll was conducted by OnePoll in assistance to Brookdale Senior Living.
"Another key finding of the survey is that 65 percent of all respondents stated that they are not actively saving money to pay for senior living, and most of them believe that retirement planning doesn’t need to begin until they reach age 47. 36 percent of respondents also said they would consider assisted or independent living in retirement," according to Reverse Mortgage Daily.
This makes reverse mortgages a viable option for seniors looking for a way to supplement their retirement plans. With more seniors leaning towards aging in place, there is a possibility that the reverse mortgage industry sees an added boost.
"Many people wait to talk about senior living until there’s a traumatic event or they need to make a fast decision," said Mary Sue Patchett, executive vice president of community operations at Brookdale Senior Living, according to Reverse Mortgage Daily.
"Many seniors know they need help, but they don’t want to ask for it because they’re afraid of losing their independence or becoming a burden to their children. Instead, they suffer silently and often in isolation. My advice is to have the conversation sooner rather than later."
To learn more about the impressive number of seniors who are in favor of aging in place, click on the image above.