AMARA ROSE MAY 7, 2018
“What we have done for ourselves alone dies with us; what we have done for others and the world remains and is immortal.”
What does that mean: “non-recourse”??? Ask Warren — see footnote at the end of article on “Information tab”.
Debt of the Elderly and Near Elderly, 1992–2016
By Craig Copeland, Ph.D., Employee Benefit Research Institute
AT A GLANCE
Western states see double digit increases.
(See editor’s note at the end of this article for impact on Reverse Mortgages)
Loose management of finances, such as taking on too much debt or not saving enough, could lead to irreversible damage when it comes to retirement.
What’s more, you often don’t find out if you’ve made a financial mistake until much later in life. That’s why we decided to survey senior citizens to see what they would change about their financial planning if they could go back to their youth when they first started working. It might be too late for them to make changes, but others certainly can benefit from their advice and benefit of hindsight.
Posted by Free Kindle Books on April 4, 2018
Common misconceptions, assumptions, and behavioral biases often prevent people from building robust and flexible retirement plans—and this is an enormous problem. If you don’t know your decisions are based on false assumptions, how can you avoid making serious mistakes?
Study: Perilous Debt Levels Put Half of Elderly Households at Risk
New research from the Employee Benefit Research Institute shows that the percentage of households headed by someone 75 and older carrying debt in retirement grew by 60 percent over the past decade from 31.2 percent of households to 49.8 percent.
Think of all the things you’ve WANTED to do.
DO THEM, without payments.
When developing a new television spot, Reverse Mortgage Funding decided to take page out of the Cola Wars handbook, inviting real consumers to take “the HELOC Challenge.”
(A HELOC promotion is included at end of this study for your comparison. Watch for what it doesn’t say about the cost of the HELOC).
Decades after Pepsi famously dared soda drinkers to see whether they preferred its flagship product over Coca-Cola in a series of iconic commercials, RMF undertook a similar experiment with Home Equity Conversion Mortgage-eligible borrowers. But instead of two cups of cola, the borrowers received information about a traditional home equity line of credit (“Product A”) and a HECM line of credit (“Product B”).