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November 2, 2012
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Financial and wealth management news for the retirement community

  Top News 
  • Study: Most middle-income earners save little for retirement
    Among U.S. workers who make $40,000 to $99,999 a year, two-thirds put less than 5% a year into retirement savings, and 85% save less than 10%, LIMRA said. About a quarter of middle-income workers 55 and older are saving nothing at all, according to LIMRA. "These results, while not surprising, are very troubling. Many Americans will live at least 20 years in retirement, and will need significant savings to ensure their financial security," LIMRA's Matthew Drinkwater said in a statement. Financial-Planning.com (11/1) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • Why HSAs may make more sense than 401(k)s
    There are advantages for workers to invest in health savings accounts compared with putting money into a traditional 401(k) plan, says Kimberly Sexton of Total Benefit Communications. She outlines HSA benefits such as rollover flexibility and tax advantages. Employee Benefit News (11/1) LinkedInFacebookTwitterEmail this Story
  • Presidential race has implications for fiduciary fight
    The U.S. Labor Department's efforts to impose tougher fiduciary standards on retirement investment advisers could essentially be settled on Election Day, experts say. Re-election for President Barack Obama would be read as a mandate for tougher regulations, while a win by Republican Mitt Romney would likely end the reform effort. InvestmentNews (free registration) (10/30) LinkedInFacebookTwitterEmail this Story
  • Other News
  Financial Literacy 
  • Making a game out of money management
    Two young entrepreneurs have developed an online game called PlayMoolah that aims to teach money-management skills to children. The game is free, but parents can pay a monthly fee to unlock advanced features. "We are the financial training wheels for kids to practice the art of decision making," PlayMoolah co-creator Min Lee says. AmericanBanker.com (free registration) (11/1) LinkedInFacebookTwitterEmail this Story
  On the Economy 
  • Jobless data point to improved hiring
    U.S. claims for jobless benefits declined a sharper-than-expected 9,000 to 363,000 last week, suggesting that a slight recent pickup in hiring is being sustained. The four-week moving average was also lower, at 367,250. Both readings were below the 400,000 level at which economists believe employment is improving. Chicago Tribune/Reuters (tiered subscription model) (11/1) LinkedInFacebookTwitterEmail this Story
  Building Your Practice 
  • Company provides temporary offices for displaced firms
    Agility Recovery in Lancaster, Pa., says it had requests from about 950 clients for possible help in restoring office facilities after Hurricane Sandy and its remnants. Some of the 31 recoveries the firm is working on are unrelated to damage from Sandy, including a Hawaiian client with tsunami damage. Financial-Planning.com (10/30) LinkedInFacebookTwitterEmail this Story
 
  SmartQuote 
Be daring, be different, be impractical, be anything that will assert integrity of purpose and imaginative vision against the play-it-safers, the creatures of the commonplace, the slaves of the ordinary."
--Cecil Beaton,
British photographer and costume designer


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