Are you going to retire in poverty? Today’s seniors are more affluent than the general population. But the generations that follow them – starting with the baby boom generation – will not be as fortunate. The decline of pensions, the erosion of Social Security and the housing crash all are pointing toward a new crisis [...] [...more]
Prior to 2008, many baby boomers assumed they were set for retirement. They would fund those golden years by tapping into their homes if they hadn’t saved enough in their 401(k) plans. But home equity no longer looks like a safe Plan B for a fast-growing group of pre-retirees and seniors. About 3.5 million homeowners [...] [...more]
We’ve all seen the studies – one seems to land on my desk once or twice a week. “Americans are living longer.” “Fewer have defined benefit pensions.” “The value of Social Security is shrinking.” “Boomers don’t have enough money to retire comfortably.” “A retirement crisis is looming.” Just a couple recent data points: –Working American [...] [...more]
When Harvey and Cora Alter decided to move away from Washington, D.C., for their retirement, friends were surprised to hear where they were going. The Alters weren’t even crossing a state line. They would move just 30 miles north of Rockville, Maryland, where they had raised two daughters, to Frederick — a town of about [...] [...more]
Back when the housing market was soaring, many Americans thought of their homes as piggy banks that they could crack open at will, whether for renovating a kitchen or funding a retirement. The Great Recession put an end to that party, and in most of the country the housing market has yet to return to [...] [...more]
