Putting off retirement planning is common among healthy seniors — to the point where a substantial majority of them would rather think about dying than how to plot out their remaining living years. Three-quarters of respondents to a survey from Home Instead, Inc., a home health provider, said they felt more comfortable thinking about funerals… [Read More]
Survey finds nearly 25% of adults have no retirement plan besides Social Security
A survey of over 1,000 U.S. adults conducted by GOBankingRates found that if not for the presence of the Social Security program, nearly one in four adults would not have any retirement plan at all. “While nearly as many people could leave their benefits on the table and still retire in style, 50% of the… [Read More]
Where and How Retirees See Themselves Living
Over 80 percent of people aged 50 and over plan on living at home as they age, and 75 percent say that failing health would be a factor that would push them toward residence in an assisted living facility, followed by the loss of the ability to drive at 30 percent. This is according to… [Read More]
Almost 30% of U.S. Households Have Just $1K Saved
Baby boomers and seniors who proactively set up retirement accounts have more than $100,000, on average, in savings than their peers who did not, according to a recent study by personal finance publication MagnifyMoney. But across the entire board, 29% of households have less than $1,000 saved in any type of account. Using data from… [Read More]
5 Ways to Push Yourself to Stay Fit
Continually progressing keeps exercise interesting and further increases your fitness level. Here are five fun ideas to keep challenging yourself. Identify an area of weakness, like a muscle group you want to tone or a fitness skill you’d like to have. You might assess your level of each of the key components of fitness —… [Read More]
21% of Boomers Lack Savings for One Month’s Expenses
Yet another poll reveals that all generations feel unprepared when it comes to retirement savings — with 21% of baby boomers lacking adequate savings to cover one month of basic expenses, according to AARP. Co-commissioned with the Association of Young Americans, the “Three Generations Survey” asked baby boomers,Generation Xers, and millennials, a variety of retirement… [Read More]
Five Year Retirement Plan Should Consider Reverse Mortgage
A recent New York Times article offers a concise 5-year countdown-to-retirement plan, with the final year of the timeline being the time to –cautiously – consider a reverse mortgage. Offered as a way to make ends meet if you’re planning to stay in your current home, reverse mortgages are a “fourth- or fifth-tier line of… [Read More]
Being Isolated May Shrink the Aging Brain
Older adults who regularly spend time with family and friends may have bigger brains to show for it, a new study suggests. Healthy brain aging is a complex matter, and researchers are still trying to understand which factors keep the mind sharp and which ones feed declines in memory and thinking. But a number of… [Read More]
Nearly One-Fifth of Seniors Don’t Know What a Reverse Mortgage Is
Just under 20% of seniors who responded to a recent survey were unaware of reverse mortgages — despite showing an overwhelming desire to stay in their homes and potentially make renovations into old age. Among homeowners aged 60 to 70, 44% said they would keep a mortgage through retirement, according to a study on retirement… [Read More]
People want to retire early, but aren’t saving enough to do it: survey
Shortfalls in retirement funding are a common source of discussion for people currently at or nearing their exits from the workforce, but new data suggests that those with a longer career runway in front of them are developing potentially unrealistic expectations about what their own retirements will look like. As life expectancy increases, the World… [Read More]
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