As more individuals are shouldering the responsibility associated with planning for retirement — particularly as programs like employee pensions become less and less common — those planning for retirement can be well-suited to look at alternative financing options, including reverse mortgages. This is according to a recently-published report by the Society of Actuaries (SOA). “Recent […]
The retirement savings of Americans — while initially shielded from some of the immediate economic shock stemming from the COVID-19 coronavirus pandemic’s effect on the stock market — were nonetheless exposed to considerable risk by the ensuing economic downturn that followed. While the market has showed signs of recovery in recent weeks, many of those […]
A new survey of seniors by reverse mortgage industry leader American Advisors Group (AAG) has revealed that overall confidence in Americans’ ability to adequately retire has been severely impacted by the COVID-19 coronavirus pandemic, with over 85% of seniors reporting some level of concern about their retirement while over 79% felt the pandemic will impact […]
Because of the new realities that have afflicted the American healthcare system and its capacity to provide care during the COVID-19 coronavirus pandemic, many seniors may be looking at options beyond nursing homes or care facilities out of a desire to remain as far away from the risk of infection as possible. Seniors in general […]
Health expenses in retirement remain a major influence on the ability for seniors to maintain stability in their post-working lives, but remain surprisingly overlooked as seniors plan out their retirement finances. This is according to financial planner Eric Brotman in a new column at Forbes. In citing a recent study on healthcare retirement saving patterns […]
While recent legislation aimed to assist Americans in the midst of economic turmoil caused by the COVID-19 coronavirus pandemic has been beneficial, mortgage forbearance options made available to people through the Coronavirus Aid, Relief, and Economic Security (CARES) Act has not addressed other living expenses that could leave people on fixed incomes vulnerable. This is […]
The ongoing economic shock of the COVID-19 coronavirus pandemic has played havoc with the financial plans of many Americans, but seniors and those at or near retirement seem to be hardest hit. Strained financial resources have become stressed even further, with the pandemic exacerbating the already shaky stature of many seeking to put their working […]
Among a series of six smart financial moves someone can make if they have found themselves laid off before planning to retire is the consideration of a reverse mortgage, among other steps that near-retirees can take. These other steps can include delaying the taking of Social Security, tapping existing investments, expanding a job search to […]
Reverse mortgages aren’t cheap for seniors and should be avoided particularly for short-term needs, but recent research has identified an effective use of the product concept for those who have investments during volatile periods of market activity. This is according to Liz Weston, a certified financial planner and finance expert at NerdWallet. “Stay-at-home orders may […]
23% of workers who are either employed or recently unemployed express that their confidence in retiring comfortably has declined due to the economic effects of the COVID-19 coronavirus pandemic. This is according to “Retirement Security Amid COVID-19: The Outlook of Three Generations,” a report released by the nonprofit Transamerica Center for Retirement Studies (TCRS). “Workers […]
