State and local governments are having increasing levels of difficulty in meeting their pension payment obligations, a problem exacerbated by the retirement of former government employees that are part of the baby boomer generation according to a new report by National Public Radio (NPR). In the city of Houston, Texas, for instance, the initial $2.4 […]
Reverse mortgage products allow senior borrowers the ability to eliminate their monthly forward mortgage payment, while also allowing access to a home equity line of credit. One of the key borrower requirements, however, is their ability to pay mortgage insurance premiums, costs associated with their home’s upkeep and the payment of associated property taxes. However, […]
People over the age of 50 with low-to-moderate incomes are facing an increasingly intense and unique set of financial challenges as traditional late-life retirement funding options, like an employer’s pension, become less available. This is according to a study conducted jointly by the Center for Financial Services Innovation (CFSI) and the AARP Foundation, the charitable […]
As workers get older, their employment becomes increasingly difficult to maintain even in a generally prosperous economic climate. This is according to a study conducted by the Urban Institute, and recently highlighted by the Boston College Center for Retirement Research. Workers over the age of 50 have a higher likelihood of encountering an involuntary job […]
95 percent of surveyed Americans revealed that they have some kind of list of financial goals and other experiences they wish to have before passing on, otherwise known as a “bucket list.” 66 percent of respondents have something on that list that they plan to accomplish within the next year of their lives, and 21 […]
Running out of money in retirement remains a primary concern for those planning their transition out of work, with other major concerns being maintaining their lifestyle and the rising costs of healthcare expenses. This is according to the American Institute of CPAs (AICPA) and its Personal Financial Planning Trends Survey. Exhausting their money is the […]
Studies show that people who are able to afford a full retirement – and who will also be healthy enough to enjoy it – are generally much happier in retirement since their working life is behind them, and they can instead spend their time doing the things they enjoy doing. However, when a critical component […]
Over a third of all American workers retire earlier than planned, and do so for various reasons that can relate to health, employment, family and finances, but these kinds of shocks still only comprise only a quarter of recorded early retirements. This indicates that other factors are at play, according to a new research brief […]
The Social Security program’s minimum benefit for retirees who have very low career earnings fails to prevent a beneficiary in this category from staying out of poverty, and the benefit itself is continually being eroded because of a design flaw. This is according to a new research brief released by the Boston College Center for […]
Public sector investment plans invest more in riskier assets than private plans, even when controlling for a number of different factors. This is according to a research brief released by Boston College’s Center for Retirement Research (BCCRR). The basis of the research began with a long-held assumption about the investment activity of pension plans at […]
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