A new study from HSBC finds that the majority of working age people have major concerns regarding their retirement. The leading concern is existing mortgage payments and the strain it puts on finances. The study states that 34% of working age people doubt that they will be able to maintain a comfortable standard of living in retirement and 69% are worried about running out of money. Paying off a mortgage is one of the key reasons people are not preparing adequately for a comfortable retirement. Though it was not mentioned, a reverse mortgage can provide the solution in this case. Read more here.
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