I’m amazed at retired people who have mortgages!!!
So many people got trapped by reverse mortgages, not realizing that fees and interest and required repairs would eat up their equity. I'm also surprised so few people don't work with their children to keep their life insurance. Spell it out. There's a life insurance policy at the end of the rainbow, but the kids have to make the payments after retirement.
It's almost funny when the kids think they're inheriting and the house has a reverse mortgage, the life insurance policy has lapsed or the principle's been tapped, and an annuity company that provides sure income owns the life savings.
People have got to be smarter about living "upper poor". All one's needs can be met with that kind of budget.