Posts Tagged ‘Seniors’
Senior 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…
Read MoreAs Median Retirement Savings for Seniors Sits at $14K, Experts Seek Solutions
As few future retirees feel secure about their savings for their golden years, financial and retirement experts recently gathered to create a more comprehensive plan for America’s seniors. The Aspen Leadership Forum on Retirement Savings joined together more than 80 financial researchers, policymakers, entrepreneurs, and others to address the rising retirement concerns and to discuss…
Read MoreRanking the Most and Least Expensive Places to Retire
After crunching all the numbers, Realtor.com has released a list of the most and least expensive places where the rapidly expanding baby boomer population can spend their retirement years. Realtor.com looked at cities already popular for seniors, and, not surprisingly, three of the most affordable locations are in Florida, with Sebring, Fla. and its $180,000…
Read MoreIs Daily Low-Dose Aspirin Really Worth It For Seniors?
There’s disappointing news for seniors: A new trial shows that taking daily low-dose aspirin doesn’t prolong healthy, independent living in otherwise healthy people aged 70 and older. Aspirin has long been recommended for middle-aged folks with a history of heart disease, to prevent future heart attacks or strokes. Researchers had hoped that aspirin’s specific effects…
Read MoreAARP: 76% of Older Adults Want to Age in Place
The desire to remain at home during retirement continues to be extremely important to people as they age, according to a new report from AARP. The data, released last week as part of the senior advocacy group’s 2018 Home and Community Preferences survey, shows that almost 80% of adults age 50 and older want to…
Read MoreMiddle- and Lower-Income Americans May Be Falling Behind with Savings
The Bureau of Economic Analysis released updated statistics last month showing a sunnier savings outlook for Americans than previously estimated — but some commentators note that not everyone may be sharing in the success. After releasing first-quarter data showing the personal savings rate sat at 3.3%, the BEA recently amended its estimate to 7.2%, according…
Read MoreAdvising Reverse Mortgage Borrowers on Aging in Place
For the many seniors who want to age in place, structural upgrades can become essential for living with accessibility and safety. A commonly promoted use for the Home Equity Conversion Mortgage, these upgrades are something retirees should start planning for sooner than later if staying in their current home is the plan, said Pete Mendenhall,…
Read MoreRetirement Planners May Need to Bring Seniors Back to Reality
A variety of financial-preparedness surveys have found intense anxiety among seniors regarding retirement, with many feeling unprepared to face their future without a steady income from work. But another study that focused on more qualitative visions of retirement shows that many financial planners might have to provide a sobering dose of reality to their clients.…
Read More10% of Surveyed Seniors Say They’ll Fund Long-Term Care with Reverse Mortgages
A recent survey found that 10% of seniors aging alone plan on using reverse mortgages to pay for long-term care costs — a number that lags behind other sources, but still represents a potential area of opportunity for the industry. The vast majority of respondents — 68% — identified savings and investments as a source…
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