Recently, The American College of Financial Services surveyed Americans to find out what they know about retirement income. This was one of the most comprehensive surveys of retirement income literacy ever conducted. Most previous studies had focused on the accumulation period prior to retirement.

The market giveth but it can also taketh away when volatility comes calling. After peaking in October 2018, a yo-yo effect has taken hold in the market characterized by sharp up and down price movements.

“Don’t think of jumbo reverse mortgages as a harmful product,” says Jamie Hopkins, professor of retirement planning at the American College of Financial Services. “It’s really just another mortgage option... except that you’re paying a higher interest rate for the ability to not have to make monthly payments.”

Individual retirement accounts (IRAs) are becoming a staple of retirement planning in the United States. IRAs are special tax-advantaged vehicles that provide flexibility, control, and investment opportunity. However, there are a number of different types of IRAs to choose from.