There’s been a big shift in how people think about their later years: New data from the Federal Reserve Bank of New York shows that most Americans don’t expect to work beyond their early 60s. The number of workers who plan to work full time beyond age 62 has fallen to 46%, down from 55%
Hundreds of thousands of homeowners have taken out mortgages in the last three years that they will still be paying off into retirement, estimates suggest. A surge in mortgage terms beyond state pension age has been seen, particularly in new home loans made to the under-30s. Figures from the Bank of England show how the
Image Point Fr / Shutterstock.com By the time you reach your mid-fifties you might already be looking ahead to that wonderful day when you can retire, even if it’s a decade away. Learn More: Retirement Planning — Here’s How Much Money You Actually Need To Age in Place Check Out: 4 Genius Things All Wealthy
Key takeaways Under the Equal Credit Opportunity Act, lenders can’t discriminate against applicants because of their age. As a result, seniors — like people in other age groups — can get mortgages if they meet a lender’s approval criteria. However, seniors may find it harder to qualify for a new home loan if they have