This generational theft from elderly savers will also affect their children when they find out they are inheriting nothing from their parents...and their parents have had to take out a reverse mortgage on their home so the government owns that too, when they die. After a lifetime of working, there will be nothing left for the next generation.
From what I have read, it’s been mostly the kids that have recommended reverse mortgages to their parents knowing full well that it will eat into their equity and inheritance.
I worry less about the generational theft from the elderly than the reverse....the generational theft from the young....they’re the ones getting totally screwed...