Posts Tagged ‘senior’
Nearly One-Fifth of Seniors Don’t Know What a Reverse Mortgage Is
Just under 20% of seniors who responded to a recent survey were unaware of reverse mortgages — despite showing an overwhelming desire to stay in their homes and potentially make renovations into old age. Among homeowners aged 60 to 70, 44% said they would keep a mortgage through retirement, according to a study on retirement…
Read MorePeople want to retire early, but aren’t saving enough to do it: survey
Shortfalls in retirement funding are a common source of discussion for people currently at or nearing their exits from the workforce, but new data suggests that those with a longer career runway in front of them are developing potentially unrealistic expectations about what their own retirements will look like. As life expectancy increases, the World…
Read MoreSmoking Linked to Frailty in Seniors
Seniors who smoke may be more likely to become frail, a new British study suggests. Researchers tracked more than 2,500 people 60 and older in England and found that current smoking boosted that risk by about 60 percent. The scientists determined that the participants were frail if they had at least three of five conditions:…
Read More9 Reasons To Consider A Reverse Mortgage
Increasing numbers of homeowners around the US are using Reverse Mortgage Loans to boost their income in retirement. With a Reverse Mortgage you could take advantage of your property value now, without having to move or downsize. If you are over 62, this is why you should consider a Reverse Mortgage. 1) A Home Equity…
Read MoreMore Than Half of Americans Will Need Nursing Home Care: Study
That eclipses the 35 percent estimate used by the U.S. Department of Health and Human Services, the researchers added. “Lifetime use of nursing homes is considerably greater than previously thought, mostly due to an increase in short stays of less than three weeks,” said lead researcher Michael Hurd. He is director of the RAND Center…
Read MoreExercise a Great Prescription to Help Older Hearts
Regular exercise is potent medicine for older adults with heart disease, a new American Heart Association scientific statement says. Physical activity should be a key part of care for older adults with heart disease who want to reduce their symptoms and build their stamina, said geriatric cardiologist Dr. Daniel Forman. He’s chair of the panel…
Read MoreReverse Mortgages Could Hold Key to Secure Retirement
Joining the chorus of popular media outlets that have covered home equity’s role in retirement, USA Today ran a lengthy piece this week about ways homeowners can tap into their wealth — including with a Home Equity Conversion Mortgage. Quoting experts such as reverse mortgage researcher Wade Pfau and wealth advisor Randy Bruns, the national…
Read MoreCould a Reverse Mortgage save your Retirement?
As baby boomers retire at the rate of 10,000 per day, many of them are woefully underfunded for their future retirement needs. While reverse mortgages have gotten a bad rap over the last decade, the product has changed and become more regulated. Reverse mortgages are now gaining a lot of attention as a viable option…
Read MoreRetirement savings declined by an average of 10% in 2022
Last year, retirees lost an average of 10% of their accrued savings for retirement. The average retirement savings dropped from $191,659 in 2022 to $170,726 by the start of 2023, according to a survey conducted by Clever Real Estate. The survey also shows that the share of retirees who have nothing saved jumped from 30%…
Read MoreThe Perks of Growing Older
Your senior years can be one of the most enjoyable and fulfilling times of your life. As the baby boomer generation gets older, the number of senior citizens in the United States is rapidly increasing, and seniors are finding ways to be more active and involved. There are more seniors today than ever before. In…
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