Unexpected Tax Bill Can Escalate Other Debt

An unexpected tax amount can be a problem in early retirement.  Even with a well crafted budget or payment plan, it can strain or implode cash-flow. Once you get behind, it feels impossible to catch up!  Did Kelly and George retire too early?? The Situation: Kelly and George had an unexpected tax liability early in retirement.  A payment plan helped, but this extra debt (along with the need for some credit card debt help) was a burden their monthly cash flow.  They still had a mortgage payment.  Had they retired too early and maybe their assets weren't going to last?  This became a huge worry. Their financial advisor suggested they talk with Kim Dodge to find out if an FHA reverse mortgage was a good option for home financing in their situation.  While nervous, since they didn't know exactly what [...]