Tag: financing retirement
Abstract In 2010, only 19 percent of individuals ages 50-58 whose household incomes were less than 300 percent of the poverty line participated in a pension of any kind at their current jobs, compared to 56 percent of those above 300 percent of poverty. This paper investigates this pension gap. In particular, we decompose t…
The brief’s key findings are: Reverse mortgages, which allow retirees to tap their home equity, are insured by the government. The financial crisis hurt both the government’s insurance fund and the borrowers. Declining home prices led to losses when homes were sold. More borrowers defaulted. In response, the government has redesigned the program by: creating…
