For seniors across America, considering how to fund retirement if existing assets are insufficient can be an exercise in creative thinking resulting in expanding the canvas of thinking to encompass a broader range of potential options. For many seniors who are also homeowners, thinking of the home as a potential source of retirement funding is […]
The already unstable position of the American social security program has become further endangered by the economic shock of the COVID-19 coronavirus pandemic, as less money coming into the fund and more people seeking benefits early have destabilized the program even further. This is according to a story published at Gray Television’s Washington News Bureau. […]
As aging in place becomes increasingly preferred among seniors, those who may have some trouble paying for necessary home modifications to make the process easier may find a possible path forward through a reverse mortgage loan. This is according to a new column appearing in Bankrate. A majority of Americans over the age of 50 […]
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 […]
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 […]
