Retirement Advisor: Homeownership Helps (Podcast)

Nov. 04, 2019 7:30 AM ET1 Comment
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SA For FAs
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Summary

  • A new Harvard study finds that about one-third of Americans aged 65 or older are being ravished by the costs of housing.
  • Advisors can glean many things from this data-rich report, foremost among them that homeownership is financially advantageous.
  • We can also glean that seniors who paid off homes fared better than mortgage holders and that there's trouble ahead for Gen X.

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A new Harvard study finds that about one-third of Americans aged 65 or older are being ravished by the costs of housing.

This podcast (6:45) suggests that financial advisors who focus on investment securities alone are withholding the holistic view of their clients' finances that are increasingly needed, given the trends brought out by this academic study.

This article was written by

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GIL WEINREICH - Author of "The Mentor," a unique parable for financial advisors and those who aspire to become one. I have worked in the FA arena since 1997, and during that time, the New York State Society of CPAs twice awarded its prestigious Excellence in Financial Journalism award to me for a monthly column I wrote on business ethics. Previously, I reported on international news for Voice of America (where I was awarded a newsroom writing award) and prior to that worked as an editorial assistant at U.S. News and World Report. I live with my wife and children amidst the verdant and vibrant hills and dales of Jerusalem.
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