MetLife Study: Retirees Must Plan for the Unexpected

A MetLife Mature Market Institute (MMI) study finds that while Americans think they may be planning for retirement, many may not be preparing for unexpected events that could interfere with their plans. The study, “Best-Case Strategies for a Flexible Retirement: The MetLife Study of Thinking About Retirement in Uncertain Times,” outlines 10 different types of […]

20% of Pre-Retirees Plan to Use Home Equity for Retirement, Study Says

A study focused on retirement planning risks found that about two out of 10 retirees and pre-retirees have already used or plan to use equity in their homes to help finance retirement. According to the 2009 survey and accompanying report by Schaumberg, Ill.-based Society of Actuaries, those who do generally plan to tap into their home equity by […]

Housing Downturn Led to Major Reverse Mortgage Changes says AARP Report

While reverse mortgages offer older Americans a way to tap home equity during retirement, the collapse of the mortgage market in 2008 has led to major changes that impact consumer choices according to a new report from the AARP Public Policy Institute. “For homeowners who are “house-rich, but cash-poor,” reverse mortgages can be a lifeline […]

WSJ: Baby Boomers Find 401(k) Plans Fall Short

The Wall Street Journal is reporting that the median household headed by a person aged 60 to 62 with a 401(k) account has less than one-quarter of what is needed in that account to maintain its standard of living in retirement. Using data from compiled by the Federal Reserve and analyzed by the Center for […]

USA Today: Boomers Join the Village Movement

USA Today is reporting on the growing number of baby boomers choosing to join the “Village Movement”. Launched eight years ago in Boston with Beacon Hill Village, has spread to Washington, Chicago, San Francisco and more than 50 other cities. Hundreds more are in formation.  Typically, the great majority of joiners in the Village Movement are […]

Baby Boomers See Retirement Delayed at Least 4 Years says Survey

Many baby boomers are expecting retirement to be delayed at least 4 years according to CPA financial planners surveyed by the American Institute of Certified Public Accountants. That’s even with re-surging confidence in the stock market, which, with recent gains, is helping replenish retirement accounts. Fifty-two percent of CPA financial planners said their clients – who […]

Baby Boomers: 25% Have No Retirement Savings

Retirement savings numbers are falling across age groups, says a November Harris Interactive poll. The November survey, which included 2,151 adults from around the U.S. found 34% of Americans have no retirement savings and 27% have no personal savings. For baby boomers, many of whom are quickly nearing retirement age, 25% of those surveyed have […]

Nearly Half of Older Americans Not Protected Against Outliving Assets

With Americans living longer, the country is facing a situation where nearly half (48 percent) of those ages 45-70 have no financial plans in place to protect themselves against outliving their assets and the rising care of healthcare according to a new survey from the Society of Actuaries (SOA). Additional findings show more than one-third […]

Retirement Preparedness Varies Across Major Metro Areas

Readiness to retire may depend on where you live. An Ameriprise Financial survey titled “Retirement Mindscape 2010 City Pulse” examined the 30 largest metro areas in the U.S., asking those who live in those areas about retirement preparedness and confidence. It found those in Minneapolis-St. Paul were most ready and those in Los Angeles were […]

CBO: Social Security Shortfall Comes Five Years Early

Social Security will will run deficits beginning this year, five years sooner than expected and will run in the red until its trust funds are drained by about 2037 according to a report from the Congressional Budget Office. This year alone, Social Security will pay out $45 billion more in retirement, disability and survivors’ benefits than […]