LEARNING CENTER

Retired Bargain Shoppers Find a New Way to Afford Holiday Shopping in 2022

November 30, 2022
Retirement Tips

Many shoppers are familiar with the stress of paying for presents each year during the holiday season. In recent years, the day after Thanksgiving, also known as Black Friday, has come to remedy the concerns about holiday spending as hundreds of stores offer highly discounted products and promote Black Friday sales on this day.

According to Deloitte, one-third of shoppers on this day plan to use credit cards to stretch their holiday budget in order to take advantage of Black Friday sales. While stretching the holiday budget using credit cards may have worked in past years, 2022’s high inflation has left many shoppers questioning their ability to resurface after the holidays are over. If money is feeling extra tight this year—you are not alone.

One demographic in particular who is often hit the hardest is retirees. Not only do people in retirement live on a limited income, but they also tend to have more family members to support during the holidays. Children, grandchildren, and new in-laws all may have entered the picture this year, but you still want to give your family a holiday to remember.

Instead of relying on Black Friday deals to get you through the holiday, consider addressing the source of the problem: poor cash flow. Many senior homeowners have opted for a reverse mortgage to resolve cash flow issues exacerbated by the holiday season. Homeowners who qualify for a reverse mortgage can access cash using their home equity.

A reverse mortgage can be a useful tool to sustain your retirement lifestyle when you overextend during the holiday months. Consider catching up on your credit card bills with a reverse mortgage. Even smart shoppers, who spend within their shopping budget, may benefit from the program by creating a safety net for unexpected costs or emergencies. You may be dealing with stress if you are “living life on the edge” regarding your finances.

You can sign up for a free, no-obligation consultation for a reverse mortgage here.

Looking for more information about your options? Download a free reverse mortgage toolkit.

Get a Reverse Mortgage Toolkit

Discover if a reverse mortgage is right for you and receive a FREE Reverse Mortgage Toolkit.

How Much Money Do You Need to Retire?

People have been asking this question for decades, and yet, no one really seems to know the answer. Even retirement researchers can’t see eye to

March 2, 2022

Keeping Up with Car Payments During Retirement

Bills don’t stop after retirement. Although expenses are typically lower when you retire–especially if you are no longer supporting anyone other than yourself–the monthly payables

March 1, 2022

How to Finance Travel After You Retire

For many retirees, traveling is one of the activities at the very top of the bucket list. The majority of Americans only get to travel

March 1, 2022

News Topics

Speak to a licensed specialist

Our team of dedicated professionals are available to assist you.

(844) 230-6679

© 2022 South River Mortgage, All Rights Reserved NMLS#1854524 1750 Forest Drive Suite #195, Annapolis, MD 21401. These materials are not from HUD or FHA and were not approved by HUD or a government agency.

Legal Information | Privacy Policy | NMLS Consumer Access

Retired Bargain Shoppers Find a New Way to Afford Holiday Shopping in 2022

Retired Bargain Shoppers Find a New Way to Afford Holiday Shopping in 2022

Get a Reverse Mortgage Toolkit

How Much Money Do You Need to Retire?

Keeping Up with Car Payments During Retirement

How to Finance Travel After You Retire

News Topics

Related Content

How Much Money Do You Need to Retire?

Keeping Up with Car Payments During Retirement

Reverse Mortgage Loan Calculator

Speak to a licensed specialist