U.S. News: Should Seniors Live Alone?

Should seniors live alone? It’s a question posed by U.S. News and World last week in examining the pros and cons of living with family members in retirement. “Put Grandma in the garage? Yes. But a garage transformed into a well-appointed studio apartment with skylights and a patio for morning coffee,” the article writes. Home […]

Reverse Mortgages Delay Retirement Shortfall, New Study Shows

Financial advisors will be of greater help to their clients if they focus on a broad array of tools, including taking out a reverse mortgage, a Boston College study released in April finds. The study, conducted by the Center for Retirement Research at Boston College, analyzed the point at which a person of retirement age […]

MetLife: Retiring Boomers Aren’t Moving; 12% Would Consider a Reverse Mortgage

Despite a commonly-held thought that the baby boomer generation will need to “work forever” because of financial insecurity, an MetLife Mature Market Institute study released last week finds that boomers are actually “retiring in droves,” and an overwhelming amount indicated they want to stay in their current homes, at 83%. Many of the oldest boomers are […]

CNBC: With Cities Unprepared, Boomers Pave the Way for Aging in Place

Very few U.S. cities are prepared for the aging of baby boomers, a CNBC report finds, leading to a “troubling” outcome for those who are transitioning out of the workforce and into retirement. Budget cuts are only adding to the problem, CNBC writes, at a time when funds for services such as meal delivery and […]

Retirement Hopes Dwindle, But Home Equity Remains

As baby boomers begin to retire, an unfortunate fact has emerged: most have not saved adequately for their post-working years. More than 65% of Americans report they are moderately or very worried they have not saved enough for retirement, according to a 2011 Gallup poll concluding that lack of retirement funds is America’s biggest financial […]

Retiree Majority Can’t Afford Daily Expenses

Millions of older Americans have trouble meeting their daily expenses, according to a new study released by Wider Opportunities for Women (WOW), an organization dedicated to economic independence for America’s families. Many look to government solutions to help cover that gap, WOW finds. A majority of elder households have insufficient income based on the Elder […]

Aging In Place Paramount, But Seniors Seek Home Changes First

Affordable housing is a rising concern for the 65+ population, a Bipartisan Policy Center survey released this week finds. And while the vast majority agree that aging in place is ideal, there are also considerations for many homeowners that go beyond that goal. The study, “Demographic Challenges and Opportunities for U.S. Housing Markets,” speculates the market […]

Majority of Seniors Have Less Than $10,000 at Life’s End

The majority of seniors have less than $10,000 in financial assets when they pass away, with more than half of the senior population not having any home equity at the end of their lives, according to a report this week by Boston College. The study, “Were They Prepared for Retirement,” was prepared by researchers at […]

Financial Fraud Up 62%, Seniors Increasingly Targeted by “Specialists”

Financial fraud is on the rise. We have heard this before. With market uncertainty and many individuals facing dire financial situations, the opportunity for fraud and abuse has seen a surge. But seniors are at particular risk, says a new study from the Retirement Research Center at Boston College, due to their enormous population, lifetime […]

FINRA and NCOA Launch New Reverse Mortgage Education Website

The National Council on Aging has launched a new consumer web site focused on using home equity in retirement, funded by the Financial Industry Regulatory Authority. The site, Home Equity Advisor.org, covers home equity options including reverse mortgages for seniors looking to make the most of the wealth they have built in their homes. The site […]