MetLife: 41% of Boomers Cite Home Equity as Possible Income Source

Baby Boomers are more likely than younger generations to count on their family being able to use their home’s equity as income in the event that they passed away unexpectedly, according to a MetLife Mature Market Institute survey, “Multi-Generational Views on Family Financial Obligations.” All three generations, including Gen Xers and Gen Yers, believe they […]

Will the Nation Go Broke Paying for Senior Housing & Long-Term Care?

This article was originally published on Senior Housing News, a sister website from the team behind Reverse Mortgage Daily. Want to read more articles like this? Sign up for daily emails. Government healthcare spending is set to skyrocket, costs of long-term care are steadily rising, while at the same time, most seniors’ wallets are strained […]

CNBC: Use Home Equity as Nest Egg for Retirement

In these tough economic times, many retirees are looking for ways to guarantee income in their later years, and getting a reverse mortgage is one possibility, says a recent CNBC article. As the name implies, such loans work in the reverse order from a typical mortgage, in that you receive a monthly check from your […]

Fox News Already a SOPA Victim with Incorrect Reverse Mortgage “Facts”?

Just because Wikipedia’s blacked out today (in protest of the Stop Online Piracy Act) doesn’t give Fox Business News an excuse to not get its reverse mortgage facts straight, as a recent article states that eligible homeowners can receive up to the value of their home in reverse mortgage proceeds. Reverse mortgages allow homeowners who have […]

MSN Money: Reverse Mortgages to the Rescue?

Retirement accounts across the nation are suffering as a result of The Great Recession, but declining home equity, among other factors, has made reverse mortgages a “thing of the past” as a retirement option, says a recent MSN Money article. “The truth is that reverse mortgages shouldn’t be used as a last-minute tool to fund your […]

Americans are “Hopeful” but not Confident About Retirement

Retirees use the words “hopeful” and “peaceful” to describe retirement rather than “confident” or “overwhelmed,” according to a study conducted by MIT and The Hartford, conducted in October and released in December. Of retirees surveyed by The Hartford and MIT’s AgeLab in its Age of Opportunity study, 27% said they feel peaceful about retirement versus […]

Americans Still Plan to Pay off Mortgages Pre-Retirement

Running out of money is the No. 1 retirement concern for nearly a third of Americans with nearly half saying they will continue to work if unable to retire as planned. Other concerns that top the list include healthcare expenses and changes to Social Security that could reduce or delay benefits, says a study of […]

Retirement Concerns Escalate, 50% are Less Confident in Outlook

When the “Supercommittee” failed to reach its goal of agreeing on a debt reduction plan, some seniors may have breathed a sigh of relief, as many had expressed concern over the effect the deficit deal could have had on their financial security in retirement, reveals a recent bipartisan, national survey conducted by Lake Research Partners and Public […]

NY Times: Boomers Lead the Charge for Aging in Place

For the 72 million American baby boomers, 10,000 of whom are turning 65 each day, the question of how and where to age is garnering an increasingly wide variety of answers and possibilities, says a New York Times article, with aging in place a central theme. An architect and a gerontologist who specializes in the relationship between […]

WSJ: Helping Out Grandkids Can Put Retirement at Risk

Grandparents are increasingly playing a bigger financial role in the lives of their grandchildren, but it’s at the expense of their own future financial security, the Wall Street Journal reports. The trend of grandparents providing added assistance can be attributed to the strain the economic recession is putting on children and grandchildren, and it’s causing […]