The Cost of Living Longer — Much Longer
MarketWatch Feb. 10, 2012, 5:46 p.m. EST By Charles Passy A 78-year-old woman walks into an agent’s office to buy life insurance. ”Have you ever had cancer?” asks the agent. “Oh, yes, dear,” says the woman. “Breast cancer.” ”Do you have a family history of heart disease?” “Oh, yes, dear,” the woman says, nodding. “My father died [...]
Boomers’ $3 trillion nest egg
January 23, 2012 7:00 AM By Steve Vernon (MoneyWatch) Americans aged 62 and older had accumulated $3.19 trillion in home equity by the end of the third quarter of 2011, according to data recently released by the National Reverse Mortgage Lenders Association (NRMLA). During the same quarter, home equity increased by $46 billion, reflecting stabilization and improvement in [...]
5 Things to Do If You Want to Retire in 2012
Smart Money JANUARY 4, 2012, 4:39 P.M. ET There are important aspects of retirement to prepare and steps that can make the transition smoother both financially and emotionally. By TOM LAURICELLA For some, 2012 will be much more than just another year. It will be the year that, after decades of punching the clock, they’ll join the [...]
Coming to terms: Reverse mortgages
The Seattle Times Originally published Wednesday, December 28, 2011 at 10:57 PM With a reverse mortgage, a homeowner receives a lump sum or regular payments based on the equity of his or her home, usually to help fund… With a reverse mortgage, a homeowner receives a lump sum or regular payments based on the equity [...]
4 Reasons Boomers Need Bigger Nest Eggs than Their Parents
SmartMoney DEC 21, 2011, 1:11 PM By Alicia Munnell Alicia Munnell, the director of the Center for Retirement Research at Boston College, is a weekly contributor to “Encore.” People often ask how baby boomers compare with their parents in terms of being prepared for retirement. The easiest way to answer that question is to look [...]
Should you “practice” retirement?
December 8, 2011 7:52 PM By Steve Vernon (istockphoto mammamaart) (MoneyWatch)AARP and T. Rowe Price recently floated an idea they call “practice retirement.” The pitch is that you can spend more money now and still retire with enough money later. Sound too good to be true? Let’s take a look at how this concept works. The [...]
Just keep working: the new retirement strategy
The number of labor force participants over age 65 has increased about 22 percent in the past three years. BY PAULA AVEN GLADYCH December 7, 2011 Irene Olsen works in Milford, Conn. Olsen 95 works 20 hours a week at the Milford Senior Center to pay for rising taxes and utilities. (AP Photo/Douglas Healey) Many individuals [...]
How Much Do You Have To Save for Retirement?
By Alicia Munnell Alicia Munnell, the director of the Center for Retirement Research at Boston College, is a weekly contributor to “Encore.” People often ask how much they have to save for a secure retirement. The answer depends on a number of factors. Earnings level. The lower the earnings, the greater the portion [...]
Reverse mortgages can be good option for seniors
The Washington Post-REAL ESTATE By Benny L. Kass, Published: November 3 Do you know that if you are 62 years or older you may be able to buy a house or a condominium using a reverse mortgage? A reverse mortgage allows you to get money from a lender, but you do not have to pay it back [...]
Baby Boomers Seek Smaller, Affordable Homes
DAILY REAL ESTATE NEWS | WEDNESDAY, OCTOBER 26, 2011 Baby boomers who plan to move for retirement are looking for smaller, affordable homes that are easily accessible to medical care and near their family, finds a new poll of more than 1,000 adults born between 1946 and 1964 conducted by Associated Press-LifeGoesStrong.com. Baby boomers who [...]