College savings are up, but most people are not utilizing 529 plans | "Halfback" retirees migrating from Florida to Appalachia | Medigap plan sales increase in 2017, report says
May 21, 2018
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College savings are up, but most people are not utilizing 529 plans
Americans are saving the highest amount of funds for college since 2013, but less than one-third are relying on 529 savings plans, according to a report by Sallie Mae. The most common tool parents are using to save for college is a general savings account.
ThinkAdvisor (free registration) (5/18) 
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"Halfback" retirees migrating from Florida to Appalachia
The "halfback" phenomenon -- in which Northerners move to Florida and retire in Appalachian regions -- has picked up again. Census data show a 169% increase in net migration to mountain communities in western North Carolina, northern Georgia and eastern Tennessee from 2010 to 2017.
The Wall Street Journal (tiered subscription model) (5/15) 
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Medigap plan sales increase in 2017, report says
The number of Medigap plans sold in 2017 increased by 500,000 over 2016, with 13.6 million people carrying the supplemental insurance, according to the American Association for Medicare Supplement Insurance. Director Jesse Slome said demographics and demand for choices and options are factors in the 40% increase in Medigap sales since 2010.
Financial Advisor online (5/17) 
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Market Trends
10-year US Treasury yield tops rates of other developed nations
The yield on the 10-year US Treasury bond rose above 3.1% last week, the highest yield in almost seven years. The benchmark bond is paying the highest yield among those of the 10 biggest developed economies.
The Wall Street Journal (tiered subscription model) (5/20) 
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Financial Literacy
Dynasty trusts: The tax-cutting tool the ultra-wealthy are using
The tax law doubled the amount of money that can be passed to heirs without concern of estate and gift taxes but only until 2025, which is why the extremely wealthy are looking to dynasty trusts, writes Ben Steverman. Although clients don't have to live in a state that allows trusts without expiration dates, the dynasty trust must be set up in one, notes Steverman.
Bloomberg (tiered subscription model) (5/15) 
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How to become debt-free in retirement
Paying off debt in retirement can seem challenging, but it is possible with proper planning. Here are seven steps for managing obligations, starting with reviewing your accounts.
U.S. News & World Report (5/17) 
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On the Economy
US trade war with China on hold, Mnuchin says
US trade war with China on hold, Mnuchin says
Mnuchin (Mark Wilson/Getty Images)
US Treasury Secretary Steven Mnuchin says the US and China are "putting the trade war on hold." The countries have agreed to withdraw tariffs proposed for each other while they develop a comprehensive trade agreement, he says.
Reuters (5/20),  The Washington Post (tiered subscription model) (5/20),  The New York Times (tiered subscription model) (5/20) 
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Economists, investors increasingly at odds about global growth
Views of economists and investors on the future of the world economy are significantly diverging. Economists contend the first quarter's downturn was temporary, while investors see growing current-account deficits and moves by central banks to raise interest rates as signs global growth will continue to slow down.
BloombergQuint (India) (5/20) 
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The Adviser-Client Relationship
4 things advisers say could increase annuity sales
Global Atlantic Financial Group surveyed retirement advisers to find out what could be done to increase sales of annuities. They suggested multiproduct annuity platforms, easier procedures for emergency withdrawals of funds, improved training for financial professionals working with annuities and a rule requiring advisers to serve the best interests of their clients.
ThinkAdvisor (free registration) (5/17) 
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Wanted: Female financial planners
Many women prefer working with female financial advisers, yet female advisers represent a little over 15% of the industry. DivaCFO co-founder Susan Bruno, CPA/PFS, provides steps we can take to fill the gap.
AICPA Insights (5/17) 
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The greatest of faults, I should say, is to be conscious of none.
Thomas Carlyle,
philosopher and historian
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