Sam in Reverse

It was a simple enough proposition. Michael and Margie Gershtenson had always heard that the Southwest, land of cacti, affordable housing and low taxes, was a great retiree haven. And they knew they needed to set aside a certain amount for life's next chapter—as those big-broker ads ask, "What's your number?" So they set up a foolproof plan: Build a nest egg of at least $3 million, and get out of town. Which is exactly what they did, hitting that threshold five years ago and closing down their dental practice in Colorado—Michael had been the dentist, Margie the hygienist. Off they went, to senior-rich Sedona, Ariz., to live out their golden years. Read more: 5 Biggest Retirement Myths - SmartMoney.com http://www.smartmoney.com/personal-finance/retirement/5-biggest-retirement-myths-1299777365195/#ixzz1GsSz4q5L

At a time when many baby boomers are struggling to pay mortgages on homes that have lost value, the ads for reverse mortgages can sound like a lifeline. But don't reach for one too quickly, Consumer Reports advises. Read more at http://bnj.mn/wBjya3