A researcher at the Boston College Center for Retirement Research sizes up the reticence of American seniors to tap their home equity in retirement, and describes why they remain unwilling to do so on a large scale.
The Boston College Center for Retirement Research aims to dive deeper into troubling CFPB data regarding the financial stability of seniors needing to make mortgage payments.
While the estimated rise in Social Security benefit payments in 2022 will likely benefit seniors, those gains could be undermined by both inflation and taxes according to new research.
In lieu of federal progress in helping American workers save for retirement, state governments are forming their own programs — and making good progress.
New research indicates that while home equity can be very useful for retirees, aversions to products like reverse mortgages or a simple aversion to taking on additional debt largely leaves equity on the financial sidelines.
A study by researchers at the University of Southern California’s Center for Economic and Social Research, cited by the Boston College Center for Retirement Research, finds that American workers tend to overestimate the impact of Social Security benefits on retirement security. This could lead to a lack of sufficient savings later in life.
According to 2020 research by Ohio State University professors, older Americans who tap home equity increase their adherence to their medications, which can have broader significance for improving their retirement security.
Boston College’s Center for Retirement Research takes a closer look at the relationship between rising home equity levels for homeowners age 62+, and the distance between those levels and reverse mortgage volume.
Based on the recent release of the Federal Reserve’s 2019 Survey of Consumer Finances (SCF), as much as half of today’s current American households are at serious risk of not having enough resources in retirement. Some of these risks can be mitigated with financial products including reverse mortgages, but more action is needed to fix […]
For seniors who are not quite ready to stop working once they reach a traditional retirement age, nontraditional work could help them to prolong their careers with more flexible hours and less stress, even though such work typically comes without benefits like healthcare coverage and retirement benefits. This is according to a research brief published […]