| If you answered no to either of these questions, | | | | while you are living, and you can set it up so that |
| you need to make some adjustments to your | | | | you receive a lump sum or an annuity type payment |
| retirement plan. | | | | each month. Of course, it will affect those loved |
| Here are some suggestions to supplement your | | | | ones you leave behind, and typically fees are quite |
| retirement income once you begin to receive Social | | | | high for a reverse mortgage. |
| Security: | | | | - Start your own business -- this can involve almost |
| - Don't retire -- some retirement advisors recommend | | | | anything. You have accrued a lot of knowledge over |
| putting off retirement in order to build up your | | | | your years in the work force. Use some of that |
| retirement fund or just to get a bigger payout from | | | | knowledge to earn yourself some supplementary |
| Social Security (that is, if Social Security is still | | | | income. |
| available) | | | | If you consider starting a business, here are a few |
| - Get a part time job -- maybe you can get a job | | | | hints about what to do with your storehouse of |
| doing something related you your hobby. For | | | | knowledge: |
| instance, if you love golf, get a job at the country | | | | - Become an Expert Consultant in your field |
| club. | | | | - Write a book -- an e-book costs nothing to |
| - Get a full time job -- once again, doing something | | | | produce, and you can earn money with online sales. |
| you enjoy. | | | | - Internet Marketing -- with your expertise, you have |
| - Downsize -- you may be able to use the equity in | | | | a leg up on the folks who are trying to market |
| your current dwelling to pay for a smaller place, thus | | | | products that you know more about than they do. |
| decreasing your housing costs, including utilities. (Be | | | | Set up an online business to market some of the |
| aware that if you choose to move to a condo or | | | | products you are familiar with. Consider this: you have |
| townhouse, there will be association fees that may | | | | time, you have experience, you have knowledge, |
| be higher than anticipated.) | | | | you need extra money, it costs you practically |
| - Get a reverse mortgage -- with a reverse | | | | nothing (when compared to other ventures that |
| mortgage, you do not have to make a payment | | | | require capital investment). |