I have no clue where the stock market will be tomorrow, next week or next year. But this much seems clear on the economic outlook: jobs and housing have a long way to go before they recover–the two are linked closely. My colleague John Wasik at Reuters.com takes a look this week at the housing [...] [...more]
How much will you need to live on in retirement? You’ll often hear the big financial services companies offer this rule of thumb: Plan to replace 80 percent of your working income in retirement. Ellen Wagner tossed the rule of thumb out the window when she retired in 2008. Instead, she developed a plan to [...] [...more]
Most Americans prefer to stay in their homes as they age, and the trend is accelerating as a result of new technology and grassroots initiatives such as intentional villages. National Public Radio’s Science Friday ran a good story on the challenges facing families and communities will face in the years ahead. Featured guests include NPR correspondent Jennifer [...] [...more]
Mortgage debt among older American homeowners rose during the years when the housing bubble was inflating – reversing the long-standing trend of declining debt as retirement approached. At the same time, older homeowners are sinking underwater on those mortgages at above-average rates. Now, growing numbers of older homeowners are deciding to default on their mortgages even [...] [...more]
Before the housing bubble burst, retirement real estate was on a roll. Older Americans could leverage high housing prices to buy second homes, move to the Sun Belt, or just tap into equity to generate cash. The real estate crash of 2008 put a stop to all that. A recent report from The Joint Center [...] [...more]
