National Public Radio’s Here and Now show featured a segment on what type of retirement Baby Boomers are facing.
Professor Alicia Munnell, director of the Center for Retirement Research at Boston College, talks with Robin Young about the prospects for retirement and the different options available in terms of funding.
“We need to figure out some way for people to draw down their 401k balances in an orderly fashion,” said Munnell. “Another area where I think there is potential, for most people their house is a really important retirement asset.”
Munnell said she likes reverse mortgages and the products are a mechanism that “people are going to need to tap their home equity during retirement,”
To listen to the segment, see here.