I recently went to a “reverse” mortage seminar where about 25 senior citizens gathered to hear how they could get money without having to repay a dime. Interesting, isn’t it. Here are the basics of a “reverse” mortage.

A “reverse”mortgage is a loan against your home that you do not have to pay back for as long as you live there. With a reverse mortgage, you can turn the value of your home into cash without having to move or to repay the loan monthly. The cash you get from a reverse mortgage can be paid to you in a few different ways:

• a single lump sum of cash
• as a regular monthly cash advance sent to you
• as a “creditline” account that lets you decide when and how much of your available cash is paid at any given time as a combination of these payment methods.

No matter how this loan is paid out to you, you generally do not have to pay anything back until you pass away, sell your home, or move out of your home permantly. Eligibility for most reverse mortgages require you to be at least 62 yeras old and own your home

According to a survey done by AARP, over 30,000 baby boomers and Matures are going Green! Green Baby Boomers tend to support local retailers that give back to their communities and choose locally produced products. AARP’s research study found that more baby boomers are more prevalent among Matures, and appear to directly correlate with their increasing age. These correlations may forecast that social and environmental consciousness will increasingly shape the purchasing behaviors of baby boomer shoppers.

Key findings from AARP include:

· Almost three-quarters (70%) of baby boomers say that they feel a sense of responsibility to make the world a better place.

· Good customer service is nearly twice as important among Green Baby Boomers as it is to other baby boomers (70% vs. 45%).

· Green Boomers are seeking authenticity and relevance, as well as real information about products in adevrtising campaigns.

· 50 percent of baby boomers at every income level are likely to buy brands that are environmentally safe, those at the lowest income level ($0-$50K) are most inclined to do so (57%).

· Green Boomers are consuming more media, particularly print, and exhibit higher brand loyalty across all categories of products.

Here are the Top 6 concerns of Baby Boomers.

1.) Having enough money to retire at an early age

2.) Overall financial stability for their family.

3.) Having enough energy to do what they like to do.

4.) Taking action to prevent disease.

5.) Having enough money for health care costs.

6.) Getting good advice from doctors.

What are your concerns as a Baby Boomer? Are they different then what’s mentioned above? Let us know.

Mary Furlong is the author of“Turning Silver Into Gold”. She has been watching the Baby Boomer generation since the mid-1980s. Mary gives insight into Baby Boomers’ new lifestage transitions in housing, health, fitness, finances, family, fashion, travel, romance, and work.

Below are some interesting facts from Mary Furlong’s book:

• The average adult American woman is 5 foot 4 inches and wears a size 14 dress.

• Baby Boomers are the first generation in American history in which the majority have obtained at least some form of higher education.

• There are more significant life transitions in the 50s and 60s than any other phase of life.

• For Baby Boomers, health care is shifting from a medical topic to a blend of entertainment, fitness, beauty and spiritual well-being.

• One of the top concerns of Baby Boomers is having enough money to retire

• By 2020, healthy living will be a trillion dollar business.

• Gardening is the No. 1 hobby for baby boomers.

• The median consumer for a new Harley-Davidson cycle is a 46-year old male.

• Baby Boomers make up 60 percent of all divorced people over the age of 50 in the U.S.

• One in four Baby Boomers in the U.S. has a second home which is typically used for vacations.

Very interesting book. Its amazing how our society will change.

I find that most families wait for a crisis to occur before they talk about aging and the possibilites of moving or hiring care for the home. AARP recently conducted a survey that shows a high percentage of adults have not yet talked to their parents about aging.

Here are the facts:

A recent survey by AARP found that nearly 70 percent of adult children have not talked to their parents about issues related to aging. Some children avoid this most intimate of conversations because they believe their parents don’t want to talk. Others think they know what their parents want. And some simply don’t want to face the very real truth that if you are lucky enough to have parents who live well into their senior years, chances are good that disease, injury, frailty, even loneliness, will affect a parent’s well-being.

It is so important to talk to your loved ones before you are stuck in a really hard place. I am sure if you have been through a rough situation you can relate.

Don’t be afraid to talk about the inevitable aging process.

I love that Newsweek has dedicated an entire section to Baby Boomer’s. Its called Boomer Files. I would check this out daily to read interesting articles and keep up to date with current events.

They have articles like this one titlted:

Insuring Your Future Care

The article talks about insurance compnaies offering new forms of long-term-care insurance for boomers who might be willing to buy at a younger age.

Read the entire article at www.newsweek.com