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November 16, 2012
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Financial and wealth management news for the retirement community

  Top News 
  • Retiring in 2013 might be a bad move, experts say
    The expected "fiscal cliff" makes 2013 a difficult time to retire, in part because of uncertainties about tax rates, experts say. It might be wise to postpone retirement until the tax picture is clearer. "It's kind of a perfect storm in 2013," said Jason Wheeler, CEO of Pathfinder Wealth Consulting. "With questions about taxes, spending cuts, the markets, health care ... the year could be a rough one when it comes to retirement." CNBC (11/16) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • Retirement confidence is high among those with $250,000 in assets
    Eighty-eight percent of people with at least $250,000 in investments are confident about their retirement security, a poll from Wells Fargo indicates. Karen Wimbish, director of retail retirement at Wells Fargo, says the majority of those investors have household incomes of $150,000 or less. "That's not the 1 percenters, those are not what we'd consider wealthy earners," she said. They have achieved what are considered "affluent levels of savings" through written financial plans, saving and high contributions to 401(k) plans, Wimbish said. The Wall Street Journal/Total Return blog (11/15), Fox Business (11/15) LinkedInFacebookTwitterEmail this Story
  • Commentary: $250,000 isn't enough for a comfortable retirement: A designation of those with $50,000 to $250,000 in investable assets as "mass affluent consumers" is misleading, Matthew Heimer writes. "Cross over into retirement with a quarter-mil in savings, and you're in a situation where, under conservative income models, you can afford to withdraw only $10,000 a year, before taxes, to support your lifestyle," Heimer writes. MarketWatch/Encore blog (11/16) LinkedInFacebookTwitterEmail this Story
  • Survey: Percentage of employers offering 401(k)s is up
    A Transamerica Center for Retirement Studies survey found that 82% of employers this year offer 401(k) plans, up from 72% in 2007. However, the report's author says the increase is a result of small employers without 401(k) plans going out of business. In the past five years, the percentage of employers offering matching contributions for defined-contribution plans has fallen from 80% to 70%, the survey found. (11/15) LinkedInFacebookTwitterEmail this Story
  • Medicare changes are possible in "fiscal cliff" talks
    A deal on the "fiscal cliff" could include changes for Medicare and Medicaid, Mary Agnes Carey writes. One idea, backed by a bipartisan commission, would cap spending on Medicare, Medicaid and other health programs at 1% more than the rise in gross domestic product. Provider payments and Medicare's age of eligibility, deductibles and Medigap coverage are among the ideas that could come into play, Carey writes. Kaiser Health News (11/13) LinkedInFacebookTwitterEmail this Story
  • Other News
  Financial Literacy 
  • How to make yourself save money
    For spenders who want to become savers, the best way to hide money from yourself is to put it where it's hard to get to -- such as in an IRA, 401(k) or savings account, Jane Bryant Quinn writes. Other ideas: Stash all surprise money, such as gifts, into savings, or claim zero exemptions on your taxes and put the refund away without spending it. The Atlanta Journal-Constitution (11/15) LinkedInFacebookTwitterEmail this Story
  On the Economy 
  • U.S. mortgage delinquencies at lowest level in nearly 4 years
    In a sign that the so-called shadow inventory of U.S. homes overhanging the real estate market might not be as great as feared, the rate of seriously delinquent mortgages is now at its lowest level since the fourth quarter of 2008. "The drop of the shadow inventory is a real positive for the housing market because it reduces concerns that this backlog will be with us," said Michael Fratantoni, vice president of research and economics at the Mortgage Bankers Association. Bloomberg (11/15) LinkedInFacebookTwitterEmail this Story
  Building Your Practice 
  • How to make working from home work
    Support services can make working at home a seamless experience for both advisers and their clients, writes Manisha Thakor, owner of MoneyZen Wealth Management. "I hope that more advisers will realize that this option is not a fall back," she writes. "It's an efficient business model that enables a healthy work-life balance, and one I think we're going to start seeing a lot more of." The Wall Street Journal/Wealth Manager blog (11/14) LinkedInFacebookTwitterEmail this Story
  • Experts: LGBT community has concerns for advisers to address
    The median household income of lesbian, gay, bisexual and transgender Americans outpaces that of the general population by more than $10,000, according to a Prudential survey. Same-sex couples also face special challenges, particularly relating to estate planning and survivor benefits, experts said. "There is a lack of understanding by financial advisers and firms about the unique needs of the community," Prudential's John Myung says. National Underwriter Life & Health (11/15) LinkedInFacebookTwitterEmail this Story
Wisdom is not acquired save as the result of investigation."
--Sara Teasdale,
American poet

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