Modern retirement research has produced volumes of data-based reports confirming the value of an annuity in a retirement portfolio. Life insurance and annuities may suit retirees who desire the protection of their principal, a predictable stream of lifetime income, long-term care options, or want to leave a legacy to a family member.
Strategists from the world’s biggest asset manager are challenging traders betting that the Federal Reserve will raise rates to around 3% next year, saying that policymakers will raise borrowing costs to 2%, but not go much further.
In its 2022 RIA Survey, Advisor Growth Strategies polled 101 independent firms to uncover their perspectives on business management and M&A. More than half of this year’s respondents manage greater than $1 billion in client assets, and 77% are fee-only RIAs.
–Despite investing significant time into their finances, many Americans find managing their money to be too complex, according to a new Digit survey released today. In fact, nearly three in five said managing their money is more mentally demanding than solving a crossword puzzle.
Retirement planning is part savings, part guessing game. While many day-to-day expenses will remain the same, there are big-ticket categories that can take a large bite out of savings. The more you can plan, the better prepared you’ll be to weather the costs. Here are four expenses to keep in mind as you prepare for retirement.
It’s been a long time since the Fed has had to put out an inflation fire as big as this one. Fixed income investors, you might be in for some surprises. Whether you invest in bond funds, marketable certificates of deposit, municipals, corporate bonds or Treasuries, you should know how interest rates affect bond prices.
As more than 1.1 million high school seniors are expected to commit to a college or university by May 1, only four in 10 students who responded to the EVERFI survey said that they felt “prepared” or “very prepared” to figure out the full costs of the colleges they were interested in attending.
The nation’s overspending problem is evidently mirrored by the habitual spending of its own citizens. In recent years, it’s thought that the average American will overspend by more than $7,000, often taking on additional debt in the holiday season.
From April 2014 to December 2019 the BitClub Network solicited money from investors in exchange for shares of purported cryptocurrency mining pools and and rewarded investors for recruiting new investors into the scheme.
The majority of investors demonstrated an understanding of inflation, with three-quarters (75%) identifying the correct definition of the market phenomenon. Younger generations struggled with correctly defining inflation compared to older generations (54% vs 86%), and worry more about the phenomenon impacting their day-to-day finances (78% vs 71%).
Many expenses in life are unpredictable. But there are two things you know you’ll have to pay for: medical bills and retirement. You’ll probably need to take a variety of steps to meet these costs, but one financial instrument that can help is a health savings account (HSA).
Consider this: Among those investors who work with a financial advisor, 84% said that doing so gave them a greater sense of comfort about their finances during the pandemic, according to a survey from Age Wave and Edward Jones.
Federal student loan payments restart May 1 after more than two years of COVID-19 emergency forbearance. However, 93% of student loan borrowers are not ready to resume payments, according to a February survey conducted by the Student Debt Crisis Center (SDCC).
A study by University of Wisconsin-Madison that was funded by AARP found that 427,300 Wisconsin residents are at risk of experiencing poverty during retirement in 2030, and the Survey of Consumer Finances (SCF) reports that less than 50% of all households contribute to a retirement account.
Lack of financial education and resources may be to blame, particularly for women, who were less likely to say they had access to these tools in comparison to men (65% vs. 84%).
A Raleigh financial advisor was sentenced Thursday to 11 years in prison for fraud and identity theft charges after he stole more than $1.3 million from an elderly woman he advised, the Department of Justice said.
In a lawsuit filed this month against Chicago Title, the receiver in the Gina Champion-Cain Ponzi scheme case accused the insurance company of helping carry out “brazen acts of fraud” that ultimately cost investors more than $180 million.
As businesses struggle to attract young workers to entry-level positions, the COVID-19 pandemic is driving a wave of early retirements.
It’s human nature to want to make things easier for our loved ones – and to have great concern about adding any stress to their lives.
There are always moves you can make to reduce your client’s taxable income. Some of these tax-saving moves, however, must be completed by Dec. 31.
While your clients are working, they may be contributing to an individual retirement account (IRA), which can provide a tax-advantaged way to save for their future. So, is it ever a good idea to tap into your IRA before you retire?
Even in a bull market, veteran investors may find that they have added a few losers to their portfolios. Tax-loss harvesting may be able to lessen the pain of those stinkers by giving you the ability to use those losses to lower your tax liability.
According to a new study from financial services firm Edward Jones in partnership with Age Wave and Harris Poll, a third of U.S. adults (33%) report that the pandemic triggered conversations with close family members about their end-of-life plans and preferences.
The semi-regular debt limit fight is politics at its worst. Why? Because raising the federal debt limit should be a routine, obligatory act by Congress to fulfill the government’s basic duty to pay the bills run up by the very same Congress.
Thinking holistically about your clients’ retirement security and developing and executing a strategy aligned with their goals may help free them to enjoy one of the most rewarding times of their life.
A former Virginia Beach investment advisor was sentenced today to 35 years in prison, following last week’s sentencing of his Williamsburg-based attorney to 10 years in prison, for their roles in a nationwide investment fraud scheme that resulted in over $25 million in losses.
Sixty-one percent of retirees wish they had done better at planning for the financial aspects of their retirement, according to an Edward Jones/Age Wave study titled “Retirement in the Time of Coronavirus: What a Difference a Year Makes.”
A Brooklyn man is facing federal charges related to an illegal check-cashing scheme that netted him more than $55 million over the past decade.
Most people I know look forward to retirement someday. They dream about travel, dining out, spending more time with family, etc. These are the things that people plan and save for. This vision of retirement is what we see in commercials.
An estimated 3 million people nationwide have left their jobs earlier than expected since the pandemic began in March 2020, according to the U.S. Bureau of Labor Statistics.
Lincoln Financial Group is breaking down three common misconceptions about saving for retirement revealed in a recent survey of U.S. employees.
PayPal co-founder Peter Thiel, who in 1999 had the privilege of purchasing company stock for one-tenth of a penny per share. He bought 1.7 million shares for just $1,700, and he did so in a powerhouse retirement account known as a Roth IRA.
Democrats favor an infrastructure package five times as large as Republicans are proposing, to be paid for in part with at least $2.5 trillion in new taxes.
Central bankers on both sides of the Atlantic say that these price rises are a temporary consequence of the whiplash effect of the COVID-19 pandemic on demand. Supply chains in everything from commodities to semiconductors have been disturbed by demand first collapsing and then surging back.
Built by the sons of slaves, the Tulsa Greenwood community in the early 20th century grew into America’s most prosperous Black community, only to be destroyed in 18 hours of murder and destruction by a white mob.
With the end of the 2020 filing season upon us, now is the time to become aware of major changes for 2021. But be prepared, politicians are making noise in preparation for another fun-filled year of late breaking changes.
We didn’t understand how to use fiscal policy in the early stages of the Depression. Economists generally clung to Cambridge tradition of Alfred Marshall (whose textbook from the early 1890s still dominated) which held that markets would solve any economic problem if left alone.
Vijay Valecha, chief investment officer, Century Financial, said the rise in US Treasury yields is unlikely to be sustained as Jerome Powell, the chairperson of the US Federal Reserve, is not even discussing the tapering of bond purchases.
Furman Alexander Ford, 51, worked as an adviser for New York Life between 2012 and 2015. His major client, identified as “E.J.,” had inherited property worth $1.3 million, which Ford helped to sell and use the money to set up a charitable annuity.
The New York comptroller estimates the bonus pool for workers in the securities industry — which includes stocks, bonds and derivatives — also grew to $31.7 billion from December to March of this year, increasing from $29.7 billion from December 2019 to March 2020.
Many Americans are in need of another lifeline, like the $1,400 direct payments proposed under President Joe Biden’s $1.9 trillion American Rescue Plan, as the country approaches a year spent in the grips of the coronavirus pandemic.