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Financial News Roundup: CEOs Discouraged Over Economic Recovery, Americans Put Off Retirement For Decades

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Americans may be forced to delay retirement until 70s or 80sToday’s top news headlines feature reasons many Americans may not retire until they reach their 80s and the details of a new roundtable discussion among the country’s CEOs. Plus, find out why a Philadelphia foreclosure program has been so successful.

Philadelphia Foreclosure Program Requires Face-To-Face Meetings
The Huffington Post

A recent study shows the strategies employed by a Philadelphia program have been successful in warding off foreclosures. The foreclosure initiative requires lenders and homeowners to meet face-to-face and discuss resolutions. The study reveals that of those who participated in the program, 85 percent were still in their homes 18 months after the meeting.

Some Americans May Be Forced To Work Well Into Their Golden Years

The economy, job market and limited pace of retirement savings may force many Americans to work well into their 80s, a new report suggests. The Employee Benefit Research Institute study shows many Americans may be required to work into their 70s and 80s in order to afford retirement. The study also breaks down the number of years many low-income families will have to work to have so much as a 50 percent chance of covering their retirement needs.

CEOs At Large Companies Have Dim View Of Economic Recovery, Growth

A recent roundtable discussion among the nation’s top chief executive officers of large-scale corporations revealed a general sentiment of dismay and apprehension regarding economic recovery and growth. An index, which measures the CEOs’ economic outlook, dropped from its first-quarter high of 113 to its current 109.9. Economic growth projections also fell from 2.9 to 2.8 percent during the same period.

Many Homeowners Still Underwater, Despite Economic Improvements

The results of a recent study show more than one-quarter of homeowners are still paying on underwater mortgages – a figure that has stayed consistent over the previous six months. These statistics have remained steady, despite small rebounds made in the job market and economy. The severity of underwater mortgages varies by state, the report found.

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