Growth of Reverse Mortgages Seen in Active Adult Communities says Report

New housing developments may have stalled, but one area expected see additional growth in the next few years is communities targeted at Americans 55+ and older. David Crowe, chief economist for the National Association of Home Builders estimates housing starts for these communities will rise 30 percent from 2010.  While it’s still a relatively modest […]

Survey Reveals Americans Not Financially Fit for Retirement

The Sixth Annual Retirement Fitness Survey, conducted by Wells Fargo and Company, has revealed that nearly three out of every four working, middle-class Americans (72 percent) between the ages of 25 to 69 expect to work through their retirement years. Reasons for this response included a deep deficit in personal retirement savings and a lifestyle […]

How Will Retirement-Age Workers React to Losing their Savings?

A new brief issued by the Center for Retirement Research (CRC) at Boston College measured behavior of retirement-age workers with relatively high retirement assets before the economic downturn. It may not be surprising to know about 57 percent of those surveyed initially reacted to their loss in savings by planning to work longer, save more, […]

Boomers Recognize Need for Long-Term Care, But Fail to Obtain Coverage

A recent study of Baby Boomers finds that while the Boomers have experienced the struggle their parents are facing with long-term care, few are doing anything to acquire their own coverage. The results of the survey show that more needs to be done to educate and motive Baby Boomers to seek long-term care coverage sooner, […]

Study Reveals Most Americans Unable to Afford Retirement Until Age 73

Last week, the results of a six-month long study on employee retirement preparedness revealed that the majority of American workers will not be able to afford retirement until 73-years of age. The “Fall 2010 401(k) Retirement Readiness Study” was conducted by Nyhart. The study reviewed almost 10,000 employee retirement accounts from 110 private and public […]

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, […]