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Key takeaways If you’re a homeowner aged 62 or older, a reverse mortgage can help you obtain tax-free income, allowing you to stay in your home, pay bills, supplement your income and more.
The report notes that 11.2 million older adults spent over 30% of their income on housing in 2021, and only 36.5% of eligible households received federal housing assistance.
One possibility is to tap into money from the sale of an existing home. The National Council on Aging report said nearly 80% of people 65 and older own their homes, and the average home equity is ...
AARP, formerly the American Association of Retired Persons, is an interest group in the United States focusing on issues affecting those 50 years old and older. [3] The organization, which is headquartered in Washington, D.C., said it had more than 38 million members as of 2018. [4]
According to an AARP spokeswoman, by 2030 over 78 million boomers will be 65+, and research shows that men will outlive their driving abilities by six years and women by 10. [27] A 2003 Gallup showed that 89% of Americans were in favor of increased testing requirements of individuals over the age of 65. [28]
In March 2014, AMAC claimed a membership of 1.1 million members, up from 40,000 in 2008, which it attributed to backlash over the ACA. [4] AMAC supports a plan for Social Security which would gradually increase the earliest retirement age to 64 (from 62) and "guarantee cost-of-living increases in a tiered structure based on income."
Seniors 62 and over enjoy a 15% discount at the Grand Canyon Railway Hotel, including the RV park and train tickets, by using promo code SENIOR. benstevens/istockphoto Grand European Travel
If you have not already done so, you may add your spouse/ partner to your existing AARP membership by contacting AARP at 888-687-2277. How do I get support for AARP? If you are having trouble activating your AARP membership please call 1-800-827-6364 for support.