Older adults, ages 65 and over, are known to be more involved in presidential elections than the younger groups of people.

Based on data gathered by the U.S. Census Bureau, 71% of the American voters who participated in the last 2016 presidential elections were senior citizens. Even more notable is that aside from Social Security benefits and health care costs, they are now showing support for actions that address climate change, inequality of income and accessibility of education. Apparently, their interests are veering toward the ideologies supported by the leftists.

After all, the previous Obama administration was able to address social and economic issues with a balanced view, instead of simply focusing only on economic and world conflict problems.

That is why Joe Biden, who served as vice president to Barack Obama appears to be the candidate that older voters will support in the forthcoming 2020 elections. However, many are gradually having doubts about the former vice president, since the latter has yet to present a clear and solid plan on how he intends to address the issues that the older generation cares about.

Bernie Sanders is the next likely candidate that senior citizens would choose to elect. Still, Sanders’ constant voicing of his Medicare-for-all agenda leaves them the impression that he has not given much focus on other problems that greatly affect the quality of life in America.

Although Elizabeth Warren is a less seasoned candidate when compared to Biden and Sanders, she appears to be the only candidate who presents well-thought-of-plans concerning various important issues.

They hear Warren mouthing not only promises on Social Security and health care reforms. Senior adults are also hearing specific actions on how she intends to institute and carry out reforms. After all, most senior voters today come from working class families,

Warren’s awareness of how the elderly are still experiencing difficulties when it comes to saving for a decent retirement, has piqued their political interest.

Most of Today’s Older Adults are Still Striving to Make Ends Meet

A recent survey was conducted to determine the main reasons why most senior American adults today, have not opted to retire despite reaching age 65. Provision Living, a company focused on providing the basic needs of senior citizens, polled 1,000 eligible retirees to find out why they are not keen on retiring.

A third of the eligible retirees who participated in the polls cited financial ineptness. About 23% of whom indicated that their family is still largely dependent on their financial support. Nineteen percent (19%) still need to settle financial obligations. Generally, they foresee retirement as an option that they will take once they reach age 72.

Nonetheless, many of those who are deferring plans for retirement have taken on a Lifetime Mortgage that will allow them to semi-retire by working on part-time jobs. That way, they can still provide support to their family or allow them to settle their remaining financial obligations without having to engage in full time jobs.

What is a Lifetime Mortgage?

A Lifetime Mortgage is a type of loan available to olders citizens who are at least 55 years old and living on real property that they own. This loan works on the principle that since properties appreciate in value, older adults can harness their equity interests on their property, in order to solve problems that prevent them from retiring.

The advantage of a Lifetime Mortgage is that it will not burden the senior adult with monthly payments. That is because the entire settlement of the equity borrowing will be deferred until the borrower passes away or has entered a nursing home.

When considering this option as a means to solve problems that prevent an eligible retiree from retiring, the value of the loanable amount must first be determined by using an equity release calculator.