X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Most retirees don't resort to a reverse mortgage -- but as paltry retirement savings dwindle, will we see an increase in such home equity conversion mortgages? (Photo: AP)

Despite the fact that much, if not most, of their equity is tied up in their homes, most retirees aren’t thinking of home as a cash machine even when they need the money.

That’s according to a recent brief from the Center for Retirement Research at Boston College, which finds that middle-class Americans aged 65–69 have more or equal wealth in their home equity than in their financial assets. (Middle class, according to the brief, is defined as the middle 60 percent based on total wealth.)

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

Dig Deeper

 

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.