Natural disasters pose a growing threat to older homeowners, destabilizing their finances and retirement plans. Many seniors possess their homes outright, accounting for a significant portion of their wealth. However, as costs of living rise and natural disasters become more frequent, financially strapped seniors face increasing difficulties in maintaining their homes or relocating. Linda Sims' experience with the Tubbs wildfire exemplifies their vulnerability, highlighting how these events not only destroy property but also emotionally and physically impact the lives of the elderly.
Rising costs, insurance issues, and disasters are derailing some Americans' retirement plans.
As the US experiences more severe and frequent natural disasters, homeowners are scrambling to protect themselves.
Many older adults' biggest financial assets are their fully paid-off homes.
Disasters threaten their savings and largely paid-off homes.
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