As Median Retirement Savings for Seniors Sits at $14K, Experts Seek Solutions

By Team Hochberg | November 12, 2018

 by Maggie Callahan 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…

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Reverse Mortgages Are Booming Worldwide, and the United States is Next

By Team Hochberg | November 12, 2018

by John Yedinak Across the globe, countries are facing an aging population that is unprepared to retire, and many governments are turning to reverse mortgages as an option to help fund longevity — the United States is no different. With 10,000 baby boomers turning 65 each day for the foreseeable future, the United States needs…

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Retirement Expert Joins Call for Broker-Dealers to Lift Reverse Mortgage Ban

By Team Hochberg | November 12, 2018

By Jessica Guerin For the last several years, the reverse mortgage industry has worked hard to build connections with financial advisors and educate them about the important role housing wealth can play in retirement income planning. But many reverse professionals say they often hit a roadblock because some broker-dealers prevent their advisors from discussing reverse mortgages…

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NY Times: Five Year Retirement Plan Should Consider Reverse Mortgage

By Team Hochberg | November 12, 2018

By Maggie Callahan A recent New York Times article offers a concise 5-year countdown-to-retirement plan, with the final year of the timeline being the time to –cautiously – consider a reverse mortgage. Offered as a way to make ends meet if you’re planning to stay in your current home, reverse mortgages are a “fourth- or fifth-tier line…

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AARP: 76% of Older Adults Want to Age in Place

By Team Hochberg | November 12, 2018

by John Yedinak 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…

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Senior Home Equity Hits $6.9 Trillion, Signifies Biggest Chunk of Wealth

By Team Hochberg | November 12, 2018

by Maggie Callahan 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.…

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U.S. Parents Spend $500 Billion Annually on Adult Children

By Team Hochberg | November 12, 2018

by Maggie Callahan Parents in the U.S. spend a staggering $500 billion annually on their adult children — twice the amount they put into retirement savings, a new Merrill Lynch study shows. Of all the stages of parenting, the empty-nest stage — when kids are over 18 — is the most expensive, according to The…

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