|Copyright:||Copyright Business Wire 2011|
|Source:||Business Wire, Inc.|
“We know that investors want to be fit financially, but they also want to help others do well by giving back to support their communities,” said
Schwab also found that the majority of boomers see paying off their mortgage as an important goal and milestone in reaching retirement. More than six in 10 (63%) investors age 50 and older have either already paid off their mortgage or are planning to do so before they retire. However, the difference in the cost of living—and housing—in metropolitan and outlying areas reveals a logical gap; 53 percent of those who live in less developed areas are more likely to have a mortgage that is paid off as compared to 39 percent of metropolitan residents.
According to the results, 84 percent of adults age 50 and older have not yet retired and one in five of this age group have no plans to retire.
About the Study
Follow us on Twitter: @charlesschwab