Tag: "mortgage"

Seniors Are in Debt, But Not as Bad Off as They Could Be

Two year ago, I produced a piece on how baby boomers spend their money.  I wanted to find out why many of them were not nearly prepared for retirement.   This time around, I wanted to find out how senior citizens were spending their money.  A lot has changed compared to the same age group just 20 years ago: Today’s seniors (age […]

Retiring Soon? Pay off the House First

In 2011, the first of some 78 million baby boomers began retirement.  By the year 2031, the last year of the boomer generation will reach their full retirement age (67).  Many will consider moving to a less costly, low-tax state in an effort to reduce their living expenses.  However, more than half of those on […]

Good News and Bad News on the Home Front

After the housing crisis, are consumers reevaluating the mortgage path?  Report:  Half of All Homes Are Being Purchased With Cash (WSJ) can i get my ex back Or are mortgages simply becoming harder to obtain?  Fannie Could Curb Low-Down-Payment Loan Purchases (WSJ) Meanwhile, the Netherlands is facing its own housing crisis:  The New Dutch Disease: Mortgage Debt (WSJ) zp8497586rq

Paying People to Buy; Punishing Them for Saving

Today the NCPA featured a report summary in its Daily Policy Digest on how taxing capital penalizes saving.   The report, by Alan Viard of the American Enterprise Institute, provides a clear example of how even if the tax rates on labor income and saving are the same, the saver still pays a greater effective tax rate […]

How Are Baby Boomers Spending Their Money?

order viagra without prescription In an August blog post, I referenced a New York Times Economix blog article highlighting the falling median income among 55 to 64 year olds during the past three years.  One of my blog readers asked me about consumer spending for this age group.  Has it fallen along with income? Alas, […]

How to Help the Poor

Using a new measure of poverty which adjusts for area costs of living, in-kind benefits, health care costs and other factors, the Census Bureau released a new report today (reported -poverty/51108410/1″>here in USA Today) showing that the number of people in poverty is about 49.1 million, 6% higher than the 46.2 million originally estimated in […]

The Rest of the Retirement Story

Another sobering about retirement, or lack thereof: Households that expected to find retirement just around the corner will have to work longer. The main reason? Debt, debt, and more debt: mortgages, home equity loans, kids’ college expenses and credit card debts are saddling 60- to 64-year-old households who expected their retirement-age years to be stress-free. […]

Housing…A Smart Investment or Just a Place to Live?

In my recent study, Ten Ways to Wreck Your Retirement, I pointed out that relying too much computer animation software on home equity for retirement income can spell trouble. A Wall Street Journal has reiterated the potential pitfalls of relying on a mortgage to make you rich.

Debt is Booming Among Baby Boomers

Decades ago, it was assumed that households approaching retirement did so with little or no debt. By the time the AARP membership cards began arriving in the mail, the mortgage was paid off (or very close to it), the kids had grown up, attended college and moved out, and there were no more child rearing […]