On average, Americans say that 61 is the ideal age for retirement and that 22 is the best age to start saving for retirement, according to Bankrate.com. However, answers about these and other financial milestones varied depending on the age of respondents.
A survey by Northwestern Mutual found that 67% of Americans getting help from a financial adviser are confident about their spending today and what they should save for the future. Similar confidence among those not using advisers was 44%.
Several bills under consideration in Congress are aimed at encouraging employers to make annuities available to participants in workplace retirement savings plans. Anne Tergesen answers five questions that are likely to be on savers' minds regarding the annuity proposals.
Northern Trust's FlexShares has brought to NYSE Arca an exchange-traded fund that buys high-yield corporate debt. Investments for the FlexShares High Yield Value-Scored Bond Index Fund are subjected to a proprietary credit-scoring system that the ETF's sponsor says maximizes total yield.
Unexpected fees can build up over time and have a significant impact on retirement savings. Here are 10 fees and other costs to consider, including those relating to retirement accounts, home repairs and health care.
The number of Americans filing for state unemployment benefits fell last week to a seasonally adjusted 207,000, the smallest number since December 1969, the Labor Department said. Economists surveyed by Reuters expected claims to rise to 220,000.
President Donald Trump criticized the Federal Reserve for raising interest rates while also saying, "I'm letting them do what they feel is best." Trump's comments were the first public presidential statement critical of the Federal Reserve since the term of George H.W. Bush.
Tariffs the Trump administration proposes, of up to 25% on cars and automotive parts, would cost hundreds of thousands of jobs and increase the price of US vehicles by $83 billion per year if implemented, according to the Alliance of Automobile Manufacturers. The auto industry has launched a campaign against the proposed tariffs.
It's simpler to bring in new clients by improving service for current clients than using resources to prospect, writes Bryce Sanders of Perceptive Business Solutions. He recommends that advisers conduct face-to-face relationship reviews with clients and offers a step-by-step approach that can lead to referrals.
While internal digital communication tools such as Slack are useful, "they cannot communicate your culture," says Patrick Tucker of True Measure Wealth Management. "I think you have to be careful not to undervalue the importance of getting together," he says.