401(k) Plans Providing Less Retirement Income

A new Issue In Brief published by the Center for Retirement Research at Boston College, titled How Has the Shift to 401(k) Plans Affected Retirement Income, finds that employer-sponsored defined contribution plans are providing less income today than in the past. Although theoretical calculations show that participants in 401(k) and other defined contribution plans who … more 401(k) Plans Providing Less Retirement Income

Divorce Rates Climb for America’s 50+ Population

While divorce is less common for younger adults, so-called “gray divorce” is on the rise among U.S. adults aged 50 and older, with the divorce rate doubling since the 1990s, according to new article published by the Pew Research Center, titled Led by Baby Boomers, divorce rates climb for America’s 50+ population. Analyst Renee Stepler … more Divorce Rates Climb for America’s 50+ Population

Pre-Retirees Overly-Optimistic About How Much They Can Withdraw in Retirement

When Fidelity Investments recently asked just over 1,000 pre-retirees what percentage of savings financial experts suggest they should withdraw annually in retirement, 19 percent said the recommended figure was seven percent to nine percent a year. That’s an amount most retirement experts would agree puts them at high risk of outliving their nest egg, according … more Pre-Retirees Overly-Optimistic About How Much They Can Withdraw in Retirement

Boston College: 20 Percent of Americans Perceive Incorrectly That They Are Prepared for Retirement

A new Issue in Brief published by the Center for Retirement Research at Boston College this week examined whether households identified in the National Retirement Risk Index as being “at risk” recognize their situation. According to the analysis, Do Households Have a Good Sense of Their Retirement Preparedness?, almost 60 percent of American households believe … more Boston College: 20 Percent of Americans Perceive Incorrectly That They Are Prepared for Retirement

Building Acceptance of Reverse Mortgages

Improving reverse mortgage financial literacy, reducing borrowing costs and expanding product options are among a list of recommendations put forth by the Urban Institute to help ease barriers to home equity extraction in new study titled “What’s stopping seniors from accessing the wealth stored in their home equity?” “Seniors are sitting on a mountain of … more Building Acceptance of Reverse Mortgages

States Move to Help Workers Save for Retirement

Seven states – California, Connecticut, Illinois, New Jersey, Maryland, Oregon and Washington – are in various stages of implementing state-sponsored retirement savings plans, according to an Associated Press article published this week. Dozens of small business owners recently gathered in Schaumburg, IL, to learn about the new state-sponsored retirement savings initiative, “Secure Choice IRA,” reported … more States Move to Help Workers Save for Retirement

Why Don’t (More) Small Businesses Offer Retirement Plans?

The Pew Charitable Trusts recently surveyed more than 1,600 small and medium-sized business owners and managers and found that employers most often cited expense, limited administrative resources and lack of employee interest as main reasons for not offering retirement plans, according to an article published by the National Association of Plan Advisors. Nearly a quarter … more Why Don’t (More) Small Businesses Offer Retirement Plans?

Challenges and Strategies for Financing an Increasingly Long Life

A research paper that came out in October 2016, and was presented last week at the Society of Actuaries Living to 100 Symposium, recommended reverse mortgages as part of a combination of strategies. Challenges and Strategies for Financing an Increasingly Long Life  Funded by: Society of Actuaries Authors: Vickie Bajtelsmit (Colorado State University), Anna Rappaport … more Challenges and Strategies for Financing an Increasingly Long Life

Harvard Projects Surge In Elder Households By 2035, Says Reverse Mortgages Can Help

By 2035, more than one in five people in the U.S. will be aged 65 and older and one in three households will be headed by someone in that age group, according to Projections and Implications for Housing a Growing Population: Older Adults 2015-2035, a report released today by the Harvard Joint Center for Housing … more Harvard Projects Surge In Elder Households By 2035, Says Reverse Mortgages Can Help