The Fed published the results of a new online survey, which found that 31 percent of non-retired respondents have no retirement savings or pension, including 19 percent of those ages 55 to 64.
Retirement Research
Boston College: Average Worker Needs to Save 15% to Fund Retirement
Research published by the Center for Retirement Research concluded that the average American household must save roughly 15 percent of its annual income to sustain the same lifestyle in retirement.
OSU Default Analysis Shows HECM Heading in the Right Direction
The latest changes to the HECM program seem to be on target to reduce default according to the results of a paper issued in July by a team of researchers at Ohio State University
Academics: Weakened Retirement Tools Make Reverses More Appealing
An article in the March issue of the Journal of Financial Planning provides the best argument yet for why retirees should consider using their home equity as a retirement planning tool.
CFPB Publishes Reverse Mortgage Study
A congressionally-mandated study of reverse mortgages published this week by the CFPB concludes that elderly consumers are not getting enough information to help them make well-informed decisions and that better disclosures and better counseling is needed.
BC Publishes Briefing Paper on Asset Allocation
The Center for Retirement Research published a briefing paper that provides an abridged, non-technical version of an earlier study entitled, How Important is Asset Allocation to Financial Security in Retirement?
Researchers Recommend Reverse Mortgages for Retirement Planning
The Center for Retirement Research published a new study, which concludes that financial planners have mistakenly focused on asset allocation, rather than the broader range of retirement options, such as reverse mortgages.