Posts Tagged ‘retire’
One in Three U.S. Households Will be 65+ By 2035
The statistics about the waves of baby boomers turning 65 each day are old news to anyone who works in a senior-focused industry. But a new report from Harvard University adds a new twist to measuring the coming wave of American seniors: In 2035, households with members aged 65 and older will account for a…
Read MoreInside the Reasons Why Seniors Choose the HECM for Purchase
Lifestyle, ease of upkeep, and proximity to family are main criteria for seniors who choose a Home Equity Conversion Mortgage for Purchase loan, many originators agreed. Christina Harmes, assistant manager for C2 Reverse in San Diego, said she has clients looking to upsize, downsize, move to the city or relocate to the country, but most…
Read MoreWant to Live Longer? Eating a Little Less Might Do the Trick
Putting just a bit less on your dinner plate each day might be key to a longer life, preliminary research suggests. People who reduced their caloric intake by just 15 percent over two years experienced a significant decrease in their metabolism, according to a small clinical trial. These folks also saw improvements in biomarkers associated…
Read MoreReverse Mortgages Help Curb Retirement Risk for Divorced Women
Reverse mortgages have been increasingly pitched as a way to stave off the effects of so-called “gray divorce,” and a new research brief shows just how a split can put both parties’ retirement futures at risk — and how home equity benefits one demographic in particular. Households in which at least one party had previously…
Read MoreWhy Today’s Seniors Are Primed to Tap Home Equity for Retirement
Rising household wealth held by older adults in recent years have put today’s seniors in a better position to tap home equity for retirement purposes. But increasing housing debt among this population could hinder their ability to use home equity to improve retirement security in the future, according to new research from the Urban Institute.…
Read More69% of Seniors Say Social Security ‘Critical’ to Retirement Plans
More than two-thirds of seniors say that Social Security benefits are critical to their retirement planning according to a new survey, while a plurality said their biggest financial regret from their younger days was not saving enough. The April survey was conducted by LendEDU, an online student loan refinancing marketplace, which sought the opinions of…
Read MoreLess than 40% of Americans on the Right Retirement Track
Less than 40% of Americans say their retirement plans are on track, and non-retirees report widespread confusion about some common financial tools and concepts, according to a new report from the Federal Reserve. Three-fifths of working people with 401(k)s, IRAs, and traditional savings accounts reported “little or no comfort” with managing them, the Fed found…
Read MorePutting it in reverse, advisors warm to reverse mortgages
It’s no secret that Americans are largely unprepared for retirement. But according to some financial advisors, they could be improving their financial standing significantly by factoring in home equity into a comprehensive retirement income plan. Reverse mortgages give seniors who are at least 62 years old a way to convert their home equity into cash.…
Read MoreOne-Third of Americans Have Less than $5K for Retirement
The grim outlook for many Americans approaching retirement age has some new stark statistics: One-third of respondents in a recent survey said they’d saved less than $5,000 for retirement. Among baby boomers, one third said they had $25,000 or less in retirement cash available, according to a new data release from life insurance provider Northwestern…
Read MoreShould You Retire On Your House?
Many American households will face a significant retirement financing gap unless they save more, invest more efficiently, retire later, and/or distribute their retirement assets more efficiently. Yet the pain of such difficult behavioral changes might be mitigated by better use of an asset that almost 80 percent of retirees have: the family home. The Reverse…
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