About 12,000 people per day will turn 65 in 2024, but many retirees aren’t ready

Didier Malagies • August 17, 2023


The reverse mortgage industry has long discussed the demographic trends that are on its side when it comes to appealing to new potential borrowers, and next year could stand as a proving ground for such an argument.


According to population projections by the U.S. Census Bureau, 4.4 million Americans will reach the age of 65 in 2024 — a figure that comes out to roughly 12,000 people per day. By 2030, all members of the baby boomer generation will have reached the age of 65, which also means that by the beginning of 2028, the entire generation’s homeowners in the U.S. will qualify for a Home Equity Conversion Mortgage (HECM).

The trend is called “peak 65,” and the “graying” of the U.S. population will have notable impacts on the U.S. economy. But as life expectancies have largely improved over the past century, longevity risk also becomes an issue that U.S. retirees will need to keep in mind according to financial news editor Anne Stanley in a new column at Investor’s Business Daily.


“Retirement for boomers is different than it was for their parents in the so-called Silent Generation. Life expectancy has improved, and today’s 65-year-old can expect to live at least another 20 years,” the column says. “About 80% of households with older adults — or 47 million such households — are struggling today with money. And they risk falling into economic insecurity as they age, the National Council on Aging says.”

The longstanding retirement paradigm is ill-equipped to handle these new realities according to Jason Fichtner, chief economist at the Bipartisan Policy Center.


“With the U.S. experiencing the greatest retirement surge in its history, the country’s public and private-sector retirement systems have become obsolete,” Fichtner told Investor’s Business Daily. “The old metaphor of the three-legged stool of retirement planning — employer pensions, personal savings and Social Security — no longer holds.”


While there are challenges, there are also new opportunities, the column points out. Where 65 was at one time considered an “absolute” retirement age, that idea no longer applies as older workers — either through a desire or necessity — are working for longer periods of time.


But traditional retirement principles also need to evolve, Stanley says, due to the well-documented solvency issues with the U.S. Social Security system.


“This year, trustees for Social Security and Medicare calculate that Social Security will be able to pay 100% of scheduled benefits until 2033,” the column said. “Without additional funding, benefits would fall after that. The Hospital Insurance Trust Fund, the main fund for Medicare, is expected to pay 100% of benefits until 2031.”



There are a number of potential strategies that retirees can employ to react to the modern retirement landscape, the column says, including the incorporation of annuities and a greater role for investment activity. Taking recent changes to tax laws can also have a beneficial effect on a retirement plan.

But, as many in the reverse mortgage industry would say, consideration of home equity could make a difference in retirement for certain people, as well, especially when considering the high levels of housing wealth maintained by baby boomers.



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what other income can be used besides tax returns

By Didier Malagies • October 13, 2025
Here are alternative ways to qualify for a mortgage without using tax returns: 🏦 1. Bank Statement Loans How it works: Lenders review 12–24 months of your business or personal bank statements to calculate your average monthly deposits (as income). Used for: Self-employed borrowers, business owners, gig workers, freelancers. What they look at: Deposit history and consistency Business expenses (they’ll apply an expense factor, usually 30–50%) No tax returns or W-2s required. 💳 2. Asset Depletion / Asset-Based Loans How it works: Instead of income, your assets (like savings, investments, or retirement funds) are used to demonstrate repayment ability. Used for: Retirees, high-net-worth individuals, or anyone with substantial savings but limited current income. Example: $1,000,000 in liquid assets might qualify as $4,000–$6,000/month “income” (depending on lender formula). 🧾 3. P&L (Profit and Loss) Statement Only Loans How it works: Lender uses a CPA- or tax-preparer-prepared Profit & Loss statement instead of tax returns. Used for: Self-employed borrowers who can show business income trends but don’t want to use full tax documents. Usually requires: 12–24 months in business + CPA verification. 🏘️ 4. DSCR (Debt Service Coverage Ratio) Loans How it works: Common for real estate investors — qualification is based on the property’s rental income, not your personal income. Formula: Gross Rent ÷ PITI (Principal + Interest + Taxes + Insurance) DSCR ≥ 1.0 means the property “covers itself.” No tax returns, W-2s, or employment verification needed. 💼 5. 1099 Income Loan How it works: Uses your 1099 forms (from contract work, commissions, or freelance income) as income documentation instead of full tax returns. Used for: Independent contractors, salespeople, consultants, etc. Often requires: 1–2 years of consistent 1099 income. Higher down payment and interest rate required. tune in and learn https://www.ddamortgage.com/blog didier malagies nmls#212566 dda mortgage nmls#324329 

Now offering a 3rd Mortgage

By Didier Malagies • October 6, 2025
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Always look at the 10 year treasury

By Didier Malagies • September 29, 2025
Great question — the 10-year U.S. Treasury Note (T-Note) is one of the most important benchmarks in finance, and it’s tightly linked to interest rates. Here’s a breakdown of how it works and why it matters: 1. What the 10-Year Treasury Is It’s a bond issued by the U.S. government with a maturity of 10 years. Investors buy it, loaning money to the government in exchange for: Semiannual coupon payments (interest), and The face value back at maturity. Because it’s backed by the U.S. government, it’s considered one of the safest investments in the world. 2. Yield vs. Price The yield is the effective return investors earn on the bond. The yield moves inversely with the bond’s price: If demand is high and price goes up → yield goes down. If demand falls and price goes down → yield goes up. 3. Connection to Interest Rates The 10-year Treasury yield reflects investor expectations about: Future Federal Reserve policy (Fed funds rate). Inflation (higher inflation expectations push yields higher). Economic growth (slower growth often pushes yields lower). While the Fed directly controls only the short-term Fed funds rate, the 10-year yield is market-driven and often moves in anticipation of where the Fed will go. 4. Why It’s So Important Mortgage rates & lending costs: 30-year mortgage rates generally move in step with the 10-year yield (plus a spread). If the 10-year goes up, mortgage rates usually rise. Benchmark for global finance: Companies, governments, and banks often price loans and bonds based on the 10-year yield. Risk sentiment: Investors flock to Treasuries in times of uncertainty, driving yields down (“flight to safety”). 5. Practical Example Suppose the Fed raises short-term rates to fight inflation. Investors expect tighter policy and possibly lower inflation later. If they believe inflation will fall, demand for 10-years might rise → yields drop. But if they fear inflation will stay high, demand falls → yields rise. Mortgage rates, business loans, and even stock valuations all adjust accordingly. ✅ In short: The 10-year Treasury is the bridge between Fed policy and real-world borrowing costs. It signals market expectations for growth, inflation, and Fed moves, making it a crucial guide for interest rates across the economy. tune in and learn https://www.ddamortgage.com/blog didier malagies nmls#212566 dda mortgage nmls#324329 
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