Oh yes, There are lots of folks making huge life changes, especially prevalent amoungst those in thier late 50's and beyond. (They have little time to recover from investment / equity losses.)
1) Single 'older' folks are choosing to "Marry-for-benefits"
2) Big rise in Co-housing / finding roommates to help with rent.
3) Reverse mortgage, tho VERY expensive and restrictive, many have to do this to eat.
4) Transitional housing - elderly folks typically have most of their assets in a 'paid-off' house, and PREVIOUSLY sold the houses to new families and the elders freed 'single family housing', then moved into communal / assisted living. NOW - seniors are leaving 'assisted living' and moving to apartments, to free their cash flows.
5) Houses are not selling, seniors are staying put because they cannot sell, or can't loose equity.
6) Senior Centers are having increased vacanies, resulting in foreclosures and lay-offs.
7) More people are dying because they have no healthcare.
8) People are entering hospice early because they cannot self-fund medical care, and are now afraid to drive to Mex for medications.
9) Lots of kids are moving back home, and bringing their family!
10) More Potlucks!!
My suggestion for future employment 'Home Health Care' & financial management (real comprehensive managers, not just a saleperson).
posted 3 years, 9 months ago
view in context