Our expert faculty are frequent contributors to consumer-based media as well as to more scholarly academic publications. Keep current with recent developments in the retirement income planning field and check out the latest articles from the thought leaders who are part of the The American College New York Life Center for Retirement Income.
For some time, reverse mortgage lenders touted a strategy that involves obtaining a HECM early on in retirement in order to delay taking Social Security, therefore maximizing the benefits you can receive.
Many older adults worry about the cost of senior housing—and with good reason. Seniors who want to want to move out of their existing homes to communities with more services have several options—but they can be pricey.
While traditional stand-alone long-term care insurance (LTC) products have seen a drop in popularity in the past several years as a result of companies leaving the marketplace and of spiraling policy premiums, life insurance-backed long-term care financing strategies have experienced tremendous growth.
A new wave of reverse mortgage products has been hitting the market. They’re known as propriety reverse mortgages, but you might also see them called private or jumbo reverse mortgages, and they differ from typical Home Equity Conversion Mortgage products in that they allow for larger loan amounts and are not insured by the Federal Housing Administration.
Life insurance is a fundamental risk management tool for a secure financial lifestyle. Primarily, it functions as an income replacement insurance product during an individual’s working years. In many cases, life insurance is set up to provide financial security for family members or to pay off liabilities in the event of an untimely and premature death.
Parents in the U.S. spend a staggering $500 billion annually on their adult children — twice the amount they put into retirement savings, a new Merrill Lynch study shows. Of all the stages of parenting, the empty-nest stage — when kids are over 18 — is the most expensive.
Half of the private-sector workforce — some 58 million full- and part-time workers, according to the Pension Rights Center — is not participating in a workplace-sponsored retirement plan, a deficit that, if it continues, could quash workers’ futures and health, and strain the U.S. economy.
When it comes to long-term care insurance, retirees might be able to have their cake and eat it, too, — at least a piece. Or, perhaps I should say, they can have their cake and their heirs can eat it, too.
Millions of Americans obsess over their careers and fret about saving, terrified they won’t have enough to ever retire. The advice now being offered by some experts may surprise these worried souls: Take months or years gone to pieces from work, the world, and enjoy yourself.