Financial Planning Journal: “Standby” Reverse Mortgage Helps Retirement Success

An article on “Standby” reverse mortgage use as a retirement strategy was published this week in the Journal of Financial Planning. The article, based on research done at Texas Tech University, considers a Saver reverse mortgage as a risk management tool for retirement saving. The Home Equity Conversion Mortgage (HECM) Saver, used as a “standby” […]

NY Times Editorial: Our Approach to Retirement? It’s Ridiculous

While most people will need about 20 times their annual income when they retire in order to maintain their quality of life after they have stopped working, the reality is that the majority of people have saved less than $30,000 for retirement, writes New York Times contributor and retirement policymaker Teresa Ghilarducci. The model Americans […]

Job Market Drives Underemployed to Use Retirement Savings Early

In light of today’s job market, only 10% of displaced workers are confident they will be able to retire comfortably, says a new study released this week by the Transamerica Center for Retirement Studies. Those who are unemployed or underemployed have seen retirement savings dwindle to low points, especially for those who are in their […]

U.S. News Counts Reverse Mortgages in Today’s 8 Retirement Realities

In the current economic downturn, there are eight retirement “realities” that have emerged, writes a U.S. News and World report this week. One among those eight: reverse mortgages. In a very brief summary of the products, the article states that the loans are worth a look, but require some careful planning as well. U.S. News […]

Research Shows New Normal For Retirement is Age 70

It’s becoming less common for people to be eligible for retirement and actually be prepared for retirement at the same time, which has served to push back the retirement age for many—but not forever, according to a study by the Boston College Center for Retirement Research.  While 65 used to be the traditional retirement age, […]

Fortune Releases New List of Top 20 Retirement Destinations

Retirees are becoming more active and they are living longer. Thus, they are looking for new, bigger, better places to retire. CNN Money/Fortune compiled a new list of top retirement locations, published this week, citing retirees’ desire to be surrounded by outdoor activities, city life, and other common qualities.  CNN Money writes:  This is the […]

Chart of the Day: Average Retirement Age Makes a Comeback

The average retirement age may be higher today than in the early 2000s and the two preceding decades, but research from the Boston College Center for Retirement Research shows that retirement ages were once even higher.  Dating back to 1962, the Retirement Research Center mapped the average retirement age to show that today’s upswing may […]

Today Show to Boomers: Prepare Now for Shrinking Inheritance

Baby Boomers should start preparing now to inherit less than expected from their parents, a Today Show segment featuring finance expert Jean Chatzky says. The shrinking inheritances seen by baby boomers today is due to two things, Chatzky says: People having less money and living much longer than they’d thought. “You’d better plan on living […]

NPR: Baby Boomer Money Squeeze Worsens, Multi-Gen Households Rise

In the United States, financial problems stemming from the aging baby boomer generation are only going to get worse, says NPR in its Family Matters series, and more households are becoming multigenerational to try to compensate.  Roughly 78 million boomers are entering their retirement years, and while they’re “young” seniors now, their health likely won’t last—and neither […]