Ideal places to retire, based on preferences | Study: Greater default savings rates could produce bigger nest egg | Exec: Preretirees need education on longevity annuities
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October 18, 2017
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Ideal places to retire, based on preferences
As a person's preferences and interests are key factors in deciding on a place to retire, this article notes seven outstanding destinations that suit a range of lifestyles and goals such as playing golf, sailing, furthering education and working postretirement. Among the choices, Broomfield, Colo., is recommended for outdoor enthusiasts while Hoboken, N.J., is ideal for those who enjoy sophisticated urban culture.
Money magazine (10/15) 
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Study: Greater default savings rates could produce bigger nest egg
Setting the default savings rate higher in retirement plans could lead to bigger savings and little, if any, increase in people opting out, according to a Voya Financial study. Default savings rates as high as 10% did not push enrollment down from that at the 6% control rate, the study found.
BenefitsPro (10/16) 
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Exec: Preretirees need education on longevity annuities
The big challenge in retirement isn't accumulating savings but is getting from age 65 to 95 without exhausting them, said Employee Retirement Income Security Act consultant Jeffrey Bograd. People approaching retirement should receive personalized attention and education about longevity annuities that begin paying out at age 85, he said.
PlanAdviser online (10/16) 
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99% of regional Part D plans to feature preferred network
Nearly every regional Medicare prescription drug plan for 2018 will feature a preferred cost-sharing pharmacy network, according to an analysis of data from the Centers for Medicare & Medicaid Services.
Drug Channels (10/17) 
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Secure Cloud Collaboration without Complications
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Market Trends
Insurers quickly bring fee-based annuities to market
Insurers are moving swiftly to roll out fee-based products designed to help advisers continue annuity sales and stay in compliance with the Labor Department's fiduciary rule. Advisers must make sure annuities they recommend help clients reach financial goals, Robert Bloink and William Byrnes write.
ThinkAdvisor (free registration)/Tax Facts Online (10/16) 
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Insurance agents say Medicare help desks, call centers stray into their domain
Insurance agents have taken to online industry message boards to express concern that Medicare help lines and insurance-related call centers may be stepping into areas of work that have traditionally been theirs, such as signing consumers up for Medicare coverage. Agents say that this trend raises compliance issues, as the call center workers are not licensed, as well as privacy and confidentiality worries.
ThinkAdvisor (free registration) (10/14) 
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Financial Literacy
How to survive a stock market downturn
People planning for retirement should be prepared for an eventual end to the current bull market. One way to weather a downturn is to divide retirement savings into three accounts: one for cash and short-term investments and the other two for longer-term investments.
Next Avenue (10/17) 
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Plan ahead to beat tax challenges to retirement
Details of the Trump administration's tax-reform proposals are still to be clarified, but certified public accountant Ed Slott writes that retirement savings could face challenges on several fronts and urges advisers to make contingency plans for clients. He advises paying attention to deductible items and evaluating the possible advantage of a Roth conversion.
InvestmentNews (tiered subscription model) (10/13) 
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On the Economy
Yellen reportedly to meet with Trump
Yellen reportedly to meet with Trump
Yellen, Trump (DESK/AFP/Getty Images)
President Donald Trump will meet with Federal Reserve head Janet Yellen on Thursday at the White House, sources said. Trump has not said whom he'll appoint to lead the central bank at the end of Yellen's term, but he has said he will consider reappointing her.
Reuters (10/16),  MarketWatch (10/16),  Fox Business (10/16) 
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The Adviser-Client Relationship
Gig economy workers show tendency to avoid taxes
A survey by Finder.com shows a tendency for gig economy workers to avoid declaring the income to the IRS, particularly among millennials, and a number of advisers comment they have clients who are unaware of the liabilities or unwilling to comply with them. Columnist Jeff Stimpson points out the practice can be heavily penalized and identifies areas where advisers can help their clients lower the tax burden.
Financial Advisor online (10/16) 
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Make no little plans; they have no magic to stir men's blood. ... Make big plans; aim high in hope and work.
Daniel Burnham,
architect and urban designer
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