Posts Tagged ‘health’
USA Today: Reverse Mortgages Can Help Manage Retirement Mortgage Debt
Carrying a mortgage into a retirement can present a number of concerns for homeowners, so many experts recommend paying off this debt during the working years. This isn’t always possible though, and experts in a recent NerdWallet article that was republished by USA Today, offered ways to help mortgage-carrying retirees. In the article “Why you…
Read MoreRising Healthcare Costs Key Factor in Planning Retirement
As long term care costs have risen 3% from 2017 to 2018, seniors need to keep these rising health care costs in mind as they plan for retirement, the latest cost-of-care data shows. On Tuesday, Genworth Financial, an insurance holding company, released its 15th Annual Cost of Care Survey looking at the costs of assisted…
Read MoreMoneyWise: Reverse Mortgages Can Help Fund Aging in Place
Seniors have made it known through numerous surveys that they desire to age in place, but keeping the home safe and accessible can require expensive upgrades and improvements. MoneyWise editor-in-chief Doug Whiteman wrote in a recent article ‘How to Find Financial Assistance for Aging in Place’ about the many options out there to help seniors…
Read MoreAlmost 30% of U.S. Households Have Just $1K Saved
Baby boomers and seniors who proactively set up retirement accounts have more than $100,000, on average, in savings than their peers who did not, according to a recent study by personal finance publication MagnifyMoney. But across the entire board, 29% of households have less than $1,000 saved in any type of account. Using data from…
Read MoreBoomers Want to Age in Place with Help from Tech, Upgrades
More than 80% of seniors want to age in place for as long as possible — and they plan to make home modifications and use the latest technology to do so. For the survey Aging in Place or Assisted Living Facility: Where Do Retirees See Themselves Living, the Retirement Living Information Center asked 2,300 adults…
Read MoreWarmer Weather Gets Seniors Outdoors and Moving
The better the weather, the more seniors venture out and get active. So say researchers who assessed the activity levels of more than 1,200 adults in Norway, aged 70 to 77, who were grouped based on whether they scored low, medium or high on a fitness test. “Older people in poor physical condition become less…
Read More21% of Boomers Lack Savings for One Month’s Expenses
Yet another poll reveals that all generations feel unprepared when it comes to retirement savings — with 21% of baby boomers lacking adequate savings to cover one month of basic expenses, according to AARP. Co-commissioned with the Association of Young Americans, the “Three Generations Survey” asked baby boomers,Generation Xers, and millennials, a variety of retirement…
Read MoreSeniors, Take Steps to Reduce Your Risk of Falling
One in four Americans 65 and older falls each year, with some ending up in hospitals or even dying. But new research suggests that it’s possible to avoid some of these serious injuries. When seniors who are at risk of falling have a prevention plan, they’re less likely to suffer a tumble-related hospitalization, the study…
Read MoreSenior Home Equity Hits $6.9 Trillion, Signifies Biggest Chunk of Wealth
Senior home equity is continuing its upward march, with housing wealth reaching $6.9 trillion in the second quarter of 2018. Equity for homeowners 62 and older grew $130 billion over the first quarter of 2018, according to the most recent figure from the National Reverse Mortgage Lenders Association/RiskSpan Reverse Mortgage Market Index. Reaching a new…
Read More78% of Seniors Own Homes Outright, But Some Struggle with Upkeep
The vast majority — 78% — of homes in the U.S. headed by someone age 75 or older are owned free-and-clear, a recent report reveals. This statistic was one of many compiled by the Administration for Community Living in their 2017 Profile of Older Americans. Offering in-depth demographic breakdowns of seniors, the report included information…
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