Are You Ready to Retire?

Various studies of Americans saving habits for retirement have been under review for quite some time and the consensus is that most Americans are underfunded in their retirement plans and most people are very concerned about outliving their savings.

Moving forward in the coming years, more seniors will seriously consider using a Reverse loan to stop the bleeding from their savings and leverage what they do happen to have, to last longer than the typical projection that a Financial Advisor may provide to their clients.

A study that was completed this year  looked in depth at what Americans are doing do save for the future, found that most are unprepared to retire and other dire concerns the will effect their ability to live comfortably.

Here is the first part of an article discussing this very serious, domestic situation that will have huge impacts on our seniors in the future.

New Study Underscores Retirees’ Need for Non-Traditional Funding Sources
Posted By Jason Oliva On June 7, 2016 @ 5:32 pm In News,Retirement,Reverse Mortgage

“As increasing longevity continues to stretch personal savings thin, a recent study suggests Americans will need to look beyond traditional funding sources if they want their retirement to last for the long haul.

Americans are living longer than ever before, yet many are still not taking the necessary steps to financially plan for their future, according to the 2016 Northwestern Mutual Planning & Progress Study. Out of more than 2,000 people aged 18 or older, only 21% say they have increased their savings in efforts to prepare for retirement, whereas 44% report having taken no steps at all.

The 2016 study, which Harris Poll conducted on behalf of Northwestern Mutual, explores the state of financial planning in the U.S. today, providing insights into the money behaviors and priorities of American adults.”

Due to the length of this article I will follow up with additional posts, sharing it in it’s entirety.

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