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November 7, 2012
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Financial and wealth management news for the retirement community

  Top News 
  • Investors hope Obama will address "fiscal cliff" immediately
    Investors and traders say they hope President Barack Obama will quickly go to work to avert the $600 billion "fiscal cliff" of tax hikes and spending cuts. Some investors worry that with Republicans retaining their majority in the House of Representatives, it could be difficult to reach a compromise on budget reform. "This is no time for putting things off until later. We can achieve big things when we work together, and the middle class is counting on us to achieve big things in the months ahead," said Senate Majority Leader Harry Reid, D-Nev. (11/7), Reuters (11/7), The Washington Post (11/7), USA Today (11/6) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • Index indicates 53% of U.S. households may face retirement risk
    Low interest rates, later retirement ages and stagnant home values have increased the chances that Americans will see their standard of living fall after they retire, the National Retirement Risk Index suggests. More than half of households may be unable to maintain their standard of living once they stop work, according to the index, measured by the Boston College Center for Retirement Research. (11/6) LinkedInFacebookTwitterEmail this Story
  • Survey: More seniors express confidence in Medicare
    A survey by Extend Health indicates that out of 1,140 seniors, 74% are "very" or "somewhat" confident of Medicare being present throughout their lives. This is higher than three months before, when 61% of seniors expressed confidence in Medicare. Bryce Williams of Towers Watson, founder of Extend Health, said that "results from the current survey represent the sharpest increase in seniors' confidence in Medicare, ... a reflection perhaps of both presidential candidates' strong messages that they are determined to protect Medicare for this generation of seniors." (11/6) LinkedInFacebookTwitterEmail this Story
  • Groups worry transaction tax will come to U.S.
    Investment and business groups expressed concern in a letter to Treasury Secretary Timothy Geithner that a European effort to set up a financial-transaction tax will catch on in the U.S. "Now is not the time to experiment with policies that experience tells us will impede growth, fragment markets, increase market volatility, destroy savings and encourage uneconomic tax-motivated decisionmaking," the groups wrote. The Hill/On The Money blog (11/6) LinkedInFacebookTwitterEmail this Story
  • Other News
  Financial Literacy 
  • Tips for those supporting adult children
    Helping adult children starts with financial education when they are still young, experts say. Adult children should have a career and finance plan in place if they rely on their parents for some support, and parents should set limits on their giving. Another tip: Parents should budget for the help they provide and make sure to fund their retirement first. U.S. News & World Report (11/6) LinkedInFacebookTwitterEmail this Story
  • Other News
  On the Economy 
  Building Your Practice 
  • Advisers work to overcome hurdles in succession planning
    Transferring a financial-advisory practice ahead of retirement poses challenges such as finding a willing successor and preparing clients for the transition, experts say. Some advisers select family members to take over their practice, and others are guided by firms that offer succession planning for their agents. Financial Advisor online (11/6) LinkedInFacebookTwitterEmail this Story
[T]he night pleases us because it suppresses idle details, just as our memory does."
--Jorge Luis Borges,
Argentine writer

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