| Financial and wealth management news for the retirement community |  |
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- Public-pension survey is criticized by NCPERS official
A study that cites major underfunding of public pensions in 61 U.S. cities is "distorted and outdated," the executive director of the National Conference on Public Employee Retirement Systems says. Hank Kim says the report by the Pew Charitable Trusts "may provide a valuable history lesson, but it cannot yield a realistic representation of the status of municipal pension plans today." AdvisorOne
(1/17)     
| Industry Update | | |
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- Study questions wisdom of 4% rule as yields remain low
The traditional 4% withdrawal rule used by retirement planners is a "risky strategy" in today's low-yield environment, a study co-author says. The early years of retirement have a "disproportionate impact on failure rates," which could reach 57% based on 2013 yields, researcher Michael Finke says. Advisers should "start with having a more conservative approach to estimating retirement income," says Finke, who suggests that annuities can offer some protection. AdvisorOne
(1/17)
| Financial Literacy | | |
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- Opinion: Don't abuse credit the way Lance Armstrong abused PEDs
Lance Armstrong's use of performance-enhancing drugs is analogous to the abuse of credit, Adam Levin writes. "Credit is neither a reward nor a punishment. It is a tool," Levin writes. "When used in combination with sensible saving, wise investing and a dash of frugality, it can help us build and maintain financial security in our lives." The Huffington Post
(1/17)
| On the Economy | | |
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- Analysis: New households suggest improving economy
More Americans are moving out of their parents' homes to establish their own households, Lucia Mutikani writes. The rate of household formation fell significantly during the recession but has been rising for the past two years, Mutikani writes. Reuters
(1/18)
- U.S. jobs, housing data point up
The latest numbers for weekly U.S. jobless-benefit applications and for housing starts were the best since 2008. The jobless data for last week point to continued slow improvement in employment, although January figures can be deceptive. The housing-starts figure, for December, was also an encouraging sign in a key segment that drives much of the rest of the economy, though much of the gain came from the volatile multifamily sector. The Washington Post/The Associated Press
(1/17), Reuters
(1/17)
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