I’m thirty-five now and I found myself going through and reading reviews for financial education books on Amazon today. It is unbelievable how little an education that we get in eith high school or college about even simple personal finance. It leaves us completely unprepared fro what lies ahead. And unfortunately most of the time as we reach our “Golden Years” they are anything but golden. I know because I have seen both of my grandparents along with all of their friends struggle. Most of them relying on their children, my parents, to take care of them.

As things get tight around the house seniors usually have little options since the ponzi scheme called Social Security leaves enough money for barely groceries. One of the options that I found for seniors while doing research for my parents about my grand parents was a senior life settlements. A senior life settlement is when you basically sell your existing life insurance policy before the policy matures to third party. You basically get a lump sum payment that is a portion of the face value, but let me tell you, it’s a whole lot more than the cash surrender value that’s for sure.

It’s terrible but people like my grandparents find themselves asking questions like, “Are you worth more dead or alive?” It’s awful, but it’s an awful truth. Believe it or not after doing tons of research for my mother I am convinced that it’s a much better option than a reverse mortgage that’s for sure.

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