Sept-Oct2020 Issue

Numbers Retirement Security and Savings Reports Highlight Data on Housing Wealth, Savings and Retirement $120 billion: Increase in housing wealth in the first quarter of 2020 compared to the fourth quarter of 2019. Workers surveyed who say the pandemic has had one or more impacts on their employment. Workers surveyed who said they needed savings to rely on during the pandemic. Total senior housing wealth in the first quarter. $7.54 trillion: 58 percent: 56 percent: Workers surveyed who said they would rely on a withdrawal from a retirement account to get through the crisis. 14% Source: The NRMLA/RiskSpan Reverse Mortgage Market Index and “Retirement Security Amid COVID-19: The Outlook of Three Generations” Two reports focus on data important to retirees or people planning to retire. The NRMLA/RiskSpan Reverse Mortgage Market Index shows an increase in housing wealth. And a study—“Retirement Security Amid COVID-19: The Outlook of Three Generations”—by the Transamerica Center for Retirement Studies was updated during the pandemic to look at retirement security. Here are some of the highlights: 1.18 million: Number of households that have used a FHA- insured reverse mortgage to help meet their financial needs since the product was created. 36 REVERSE MORTGAGE / SEPTEMBER-OCTOBER 2020

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