Fed: Less than 40% of Americans on the Right Retirement Track

By Team Hochberg | November 12, 2018

by Alex Spanko Less than 40% of Americans say their retirement plans are on track, and non-retirees report widespread confusion about some common financial tools and concepts, according to a new report from the Federal Reserve. Three-fifths of working people with 401(k)s, IRAs, and traditional savings accounts reported “little or no comfort” with managing them, the Fed…

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10% of Surveyed Seniors Say They’ll Fund Long-Term Care with Reverse Mortgages

By Team Hochberg | November 12, 2018

By Alex Spanko 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…

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Middle- and Lower-Income Americans May Be Falling Behind with Savings

By Team Hochberg | November 12, 2018

by Alex Spanko 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…

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Half of Older Adults Say They’re ‘Chasing’ a Solid Retirement Plan Without Success

By Team Hochberg | November 12, 2018

by Alex Spanko Yet another survey of American retirement savers has revealed that a significant chunk of people don’t feel comfortable with the amount of money they’ve already stockpiled — with about half feeling as though they’re chasing a retirement dream that may have already left them behind. In a recent poll of adults aged…

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One in Three U.S. Households Will be 65+ By 2035

By Team Hochberg | November 12, 2018

by Alex Spanko The statistics about the waves of baby boomers turning 65 each day are old news to anyone who works in a senior-focused industry. But a new report from Harvard University adds a new twist to measuring the coming wave of American seniors: In 2035, households with members aged 65 and older will…

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One-Third of Americans Have Less than $5K for Retirement

By Team Hochberg | November 12, 2018

by Alex Spanko The grim outlook for many Americans approaching retirement age has some new stark statistics: One-third of respondents in a recent survey said they’d saved less than $5,000 for retirement. Among baby boomers, one third said they had $25,000 or less in retirement cash available, according to a new data release from life…

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Seniors Increasingly Comfortable with Carrying Debt into Retirement

By Team Hochberg | November 12, 2018

by Alex Spanko As the nation ages and the demographics within the ranks of older Americans begin to shift, today’s seniors are increasingly open to the idea of carrying debt. Almost half of retirees aged 75 and over had some kind of loan debt in 2016, according to an analysis from the Employee Benefit Research Institute (EBRI)…

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