Actuary and financial planner Joe Tomlinson reviews several strategies for dealing with insufficient retirement funds. He concludes that a qualified longevity annuity contract is a better option than an inflation-adjusted single-premium immediate annuity for those with an underfunded retirement plan.
The Financial Services Institute and other industry groups are asking the US Court of Appeals for the 5th Circuit to rule on their lawsuit challenging the Labor Department's fiduciary rule, even though full implementation of the rule has been delayed. The parts of the rule that have been implemented are imposing "ongoing compliance burdens," the groups said in a letter to the court.
Former tax attorney Andy Friedman has compiled a list of seven questions that numerous advisors have about the House and Senate tax bills, which are currently in conference, and has provided answers to them. Topics include deferred compensation, business expenses and alimony payment deductions as well as the effect of inflation on revised tax brackets. This is an ongoing issue, and the Financial Services Institute will provide updates as they develop.
Many young people are skeptical of capitalism or feel it has become an outmoded model, writes Warren Stephens. He encourages advisors to discuss capitalism and how it aligns with young prospects' financial goals, taking care not to dismiss their arguments or be condescending.
Bills introduced by Rep. Richard Neal, D-Mass., aim to increase employee access to workplace retirement plans and increase savings, while simplifying existing retirement-savings rules. The proposals have been described as a "common-sense private-sector solution" for workers to save more for their retirement.
Columnist Ed Silverstein provides a list of 12 reasonably priced seasonal gifts that advisors would be happy to give or receive. They range in price from $15 to $425 and include insightful books and tech devices geared toward security.
Wall Street economists are advising investors to prepare for the sharpest increase in interest rates since 2006. Next year, interest rates are set to rise to at least 1% in advanced economies, economists say.
Nearly 40% of working Americans age 65 or older had previously retired but then rejoined the workforce for personal as much as financial reasons, a study found, while more than half of retirees age 50 or older said they would go back to work if the right opportunity arose. The "unretirement" trend marks a significant shift away from the earlier model of leaving the workforce entirely upon reaching retirement age.
Financial columnist Wendy Connick lists four "housekeeping" tasks for retirement savers to carry out before 2017 ends to make sure their plans are in good shape for 2018 and beyond. She suggests savers should add up their contributions for the year, compare them with their plans and the plans' goals, look at their plans' long-term objectives and, more fundamentally, consider the value of switching to a different savings vehicle.
Advisors who have hit their annual targets may see December as a month to coast, writes author Matt Oechsli. He contends it is wiser to spend the month "filling the pipeline" by reviewing the firm's current prospect list and taking advantage of the extra social opportunities of the holiday season to network and add to that list.
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