July/August 2021 Reverse Mortgage Magazine

Numbers A Closer Look at AAG Post-2020 Retirement Survey Results Homeowners Respond to Questions During Pandemic Source: AAG Post-2020 Retirement Survey Results, aag.com/post2020survey/ Here is a closer look at some of the numbers behind an AAG survey, which polled more than 1,500 people ages 60 to 75 during the pandemic. “Last year was a challenge for everyone, especially so for America’s seniors. Lockdowns, a fluctuating economy and virtual communication significantly changed the way older Americans lived their day-to-day life,” says the AAG website that details the survey results. “But for many, it wasn’t just their life in the moment that changed, but also their plans for the future.” The full survey results can be found at aag.com/post2020survey. 30 percent Respondents who said 2020 had a negative impact on their retirement plans. Seniors who plan to work past the age of 70. 18 percent Those who say they have paid off their house. 28 percent The people who said they feel safer in their homes than years prior. 47 percent 12 percent Those who do not plan to stop working. Respondents who said the events of 2020 forced them to withdraw extra funds from their retirement accounts. Those who plan to work part-time during retirement. 21 percent 46 percent 55 percent The folks who plan to stay in their current house. 36 REVERSE MORTGAGE / JULY-AUGUST 2021