A retired woman recently reached out to MarketWatch with her fears of becoming homeless once her husband retires at the age of 76. The couple has a meagre $100,000 in the bank. They have a big house with a mortgage and live with four dogs. Moving after retirement isn't an option for the couple as it will cost a lot and they have nowhere to go.
Rich Dad Poor Dad author Robert Kiyosaki had recently warned that Baby Boomers are looking at a wave of homelessness amid a worsening financial outlook. With rising living costs amid growing housing and medical bills, seniors, especially those in a financially precarious situation, are concerned they won't last long in retirement.
