Seniors Want To Stay Home

A survey by the American Association of Retired Persons (AARP) found that 84 percent of Americans age 55 and over want to stay in their present homes for the rest of their lives. But no more than 30 percent of these people had given any thought as to how they are going to do that. 70 percent still need guidance and help to plan for their later years.

AARP advised their readers in their January publication to take steps and anticipate the problems involved, and also suggested where help might be available. They particularly pointed out the possibility of Home Equity Loans as a source of funds and noted "they are widely available through banks and savings and loan institutions."

Given the fact that AARP has a circulation of 21 million of these bulletins, bankers might want to sharpen their skills in the coming months on dealing with opportunities and questions on how your institution can help older customers.

Copyright © 1991 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 2, No. 1, 1/91