Older Americans: Fastest Growing Demographic Filing for Bankruptcy

The number of Americans aged 65 and older are filling for bankruptcy more than any other demographic according to a recent study by John Pottow, professor of law at the University of Michigan Law School. Data from the Consumer Bankruptcy Project shows that the number filers age 65 and over doubled from 2.1% in 1991 […]

US Retirement System Ranking Falls to 10th in Global Pension Index

The United States ranking fell to 10th in the world’s best retirement savings and income system while Netherlands ranked the best for the second year running according to the Melbourne Mercer Global Pension Index 2010. Produced by Mercer and the Australian Centre for Financial Studies, the second Melbourne Mercer Global Pension Index is based on […]

New AARP Retirement Calculator Factors in Reverse Mortgage Proceeds

To help older Americans evaluate their financial future, AARP launched a new calculator to determine when they can retire and what is needed to do so. “Based on user feedback and a changing retirement landscape, AARP revamped its retirement calculator to enhance usability, but maintain accuracy in its results,” said Jean Setzfand, Director of Financial […]

NY Times: Reverse Mortgages Show Promise

The New York Times published a special report about the Sandwich Generation and the choices they face when parents pensions and social security benefits don’t cover their living costs and other care. Ron Lieber writes: As grim as it sounds, things are not hopeless for the sandwich generation. True, some products from the financial industry, […]