Reverse Mortgages Rules To Change Positively And Negatively For Retirees

September 21, 2017
By:
Jamie Hopkins

A number of recent articles stated that the government’s new reverse mortgage changes (Mortgagee Letter 2017-12) will make the program less attractive to borrowers. However, this might have been an initial overreaction.

Women Report More Financial Stress About Retirement Savings Than Men

September 14, 2017
By:
Jamie Hopkins

A new report by MassMutual raises questions about the current effectiveness of retirement savings initiatives and programs in the United States, as the overwhelming majority of respondents, roughly 72 percent, agreed that they are not saving enough for retirement.

Our Consumer Financial Watchdog Misses the Mark on Social Security

August 29, 2017
By:
Jamie Hopkins

The Consumer Financial Protection Bureau (CFPB) released a new report on Social Security and reverse mortgages that is filled with inaccuracies and misleading information, completely missing the mark in helping Americans better understand how to achieve a financially secure retirement.

CFPB Releases Misleading Report On Social Security Deferral Strategies

August 28, 2017
By:
Jamie Hopkins

The Consumer Financial Protection Bureau released a new report on Social Security and reverse mortgages that is so limited in scope and riddled with inaccurate statements that it likely does more harm than good.  The report takes a blunt swipe at using home equity through a reverse mortgage to support deferral of Social Security benefits.

New Report Shows Credit Card Debt Is Hindering 401(k) Savings

August 24, 2017
By:
Jamie Hopkins

A new research report from Schwab Retirement Plan Services highlights the dangers that debt and overspending pose for retirement savings. In a recent survey of roughly 1,000 workers with access to a 401(k) plan, only half of the respondents believed they were contributing to the 401(k) plan.

Abysmal Financial Literacy Rates For Women Are Hurting Their Retirement Security

July 26, 2017
By:
Jamie Hopkins

A recent survey, the 2017 RICP® Retirement Income Literacy Report, by The American College of Financial Services, found that retirement age women lag significantly behind their male counterparts when it comes to retirement income literacy.

Millennial Managers: A Guide For Successful Management

July 8, 2017
By:
Jamie Hopkins
Bryan Yackulic

Millennials took over as the largest generational group in the United States workforce in 2015, and by 2020 they will make up over half of the total workforce. If you do not already have a millennial manager, you could be getting one soon.

This report was designed to assess retirement literacy among individuals who are nearing or already in retirement. More specifically, the goal was to determine whether retirees and pre-retirees have the knowledge they need to successfully plan for a financially secure retirement. The report also shows gender differences when it comes to retirement income literacy.

 

The New York Times Got It Wrong About Reverse Mortgages

June 29, 2017
By:
Jamie Hopkins

A recent New York Times article on reverse mortgages published a common error that feeds into negative misconceptions that continue to hinder using home equity as a strategic retirement income source.

New Fiduciary Rule For Financial Advisors Moves The Needle, But in Which Direction?

June 14, 2017
By:
Jamie Hopkins

On June 9, 2017, the financial services world changed forever (maybe), as more financial advisors than ever are now acting under a fiduciary standard of care. This news should have been bigger, but it was not.

Pages