Retirement Crisis Deepens as Pandemic Drives Unemployment

The effects of the COVID-19 coronavirus pandemic on unemployment in America have led to most recent estimates placing the national unemployment rate at 11.1% as of June 2020, up from 4% one year prior according to the Bureau of Labor Statistics. Unemployment that has been driven by the pandemic’s effect on the economy is deepening […]

Actuaries Tout Reverse Mortgages to Allay Post-Retirement Risk

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 […]

Retirement Savings Exposed to Notable Risk During Pandemic’s Onset

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 […]

AAG Survey: Pandemic Volatility Devastates Americans’ Retirement Confidence

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 […]

U.S. News: Reverse Mortgage Can Provide Path to Paying for In-Home Care

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 […]

Forbes: Seniors Not Preparing Enough for Healthcare Costs in Retirement

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 […]

Financial Planner: Don’t Overlook Reverse Mortgage in Time of Crisis

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 […]

Seattle Times: Pandemic Playing Havoc With Seniors’ Retirement Plans

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 […]

NerdWallet: Reverse Mortgages Can Be ‘Relief Valve’ for Bear Markets

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 […]