The Ugly Side of Waiting for Retirement They say patience is a virtue. Be patient, wait, and that which you deserve will come to you. Sometimes though, waiting is probably the worst thing you can do. In a video, which appeared in Reverse Focus, Shannon Hicks compares retirees who don’t take advantage of a reverse mortgage to patients who are told about a medication that can prolong or save their lives and choosing to do nothing instead.

I agree because doing something, anything, is always better than doing nothing and, when you wait, you are doing nothing.

Waiting can lead to impoverishment, especially in your retirement years, when you are no longer as strong, sturdy or resourceful as you used to be. Retirement is associated with sitting on a chaise at the beach sipping fruity cocktails. You want retirement to be predictable and safe but circumstances beyond your control are making it impossible to fulfill that fantasy.

This dream is becoming more of a nightmare for Americans who are choosing to wait instead of using a reverse mortgage to their advantage. 

I’ve talked about this before and the game remains the same. Previously available sources of retirement income, like defined benefits or pension plans, have dwindled, in favor of employer-sponsored 401Ks as well as the increased dependability of social security–the only source of retirement income for many–creating a situation that can be potentially harming for current and future retirees. Employer-sponsored 401Ks are not available to all those who work while the amount of income obtained from Social Security can potentially dwindle as more Americans turn to it. Lack of planning and ignorance can led to consequences, unexpected or otherwise, making your retirement anything but smooth sailing. Reverse mortgages are a FHA-insured, non-recourse loan, meaning you never pay more than the value of your house. When the retirement ship is sinking, make sure you have a life raft with you and stop waiting for your retirement to come to you. Be proactive with a reverse mortgage.

The only benefactor will be you.

At PS Financial Services, a reverse mortgage company in Florida, is dedicated to finding the best lender for each senior homeowner, that is why we are better than the bank! Give us a call at (888)845-6630 or email us at to determine if a reverse mortgage is right for you.