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November 9, 2012
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Financial and wealth management news for the retirement community

  Top News 
  • Survey: Retirement is a priority in words but not deeds
    About 70% of investors ages 21 to 50 say saving for retirement is their main financial priority, yet most aren't putting away enough to ensure a comfortable postretirement lifestyle, according to a T. Rowe Price survey. About two-thirds of respondents are contributing less than 10% of their income to a 401(k), 37% are avoiding stocks and only 16% expect to receive Social Security benefits, according to the survey. (11/8) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • A look at the upsides of new deferred annuities
    New deferred-annuity products reduce the amount of time clients must wait to begin drawing retirement income to five years after purchase, William Byrnes and Robert Bloink write. Options such as moving funds into deferred annuities from traditional retirement accounts and collecting or reinvesting nonguaranteed cash dividends over the life of the product may make them of particular interest to baby boomers who may lack pensions, Byrnes and Bloink write. AdvisorOne (11/8) LinkedInFacebookTwitterEmail this Story
  • Financial advisers should expect more regulatory changes
    President Barack Obama's re-election has taken much of the uncertainty out of the markets, but financial advisers still face possible regulatory changes. The Securities and Exchange Commission is facing calls for tougher ethical standards for brokers, and Congress will consider an effort to outsource investment adviser oversight. InvestmentNews (free registration) (11/7), The Wall Street Journal (11/9) LinkedInFacebookTwitterEmail this Story
  • Other News
  Financial Literacy 
  • Rename inherited IRAs to avoid tax hit
    Inherited IRAs must be retitled or renamed to avoid IRS tax penalties, Tim Grant writes. Spouses inheriting IRAs need not rename them unless they plan to withdraw money before the age of 59½ -- then retitling will save the 10% tax hit levied by the IRS. "Many financial advisers don't know this. I get a ton of mail from people who failed to retitle an IRA and they want to know if it can be undone. The answer is no. Once it's done, it's done," financial adviser Jane Bryant Quinn says. Pittsburgh Post-Gazette (11/8) LinkedInFacebookTwitterEmail this Story
  • Other News
  On the Economy 
  • U.S. claims for jobless benefits drop
    Initial U.S. claims for unemployment benefits fell 8,000 to 355,000 last week. The decline was sharper than expected, but U.S. jobs data for the next few weeks will be distorted by the lingering effects of Hurricane Sandy along the East Coast. MarketWatch (11/8) LinkedInFacebookTwitterEmail this Story
  • U.S. exports rise; trade deficit down sharply
    America's trade deficit unexpectedly dropped 5.1%, to $41.5 billion, in September, as exports rose 3.1%, to $187 billion, marking the biggest gain since July 2011, the Commerce Department said. The increase in exports was broad-based, including refined petroleum, aircraft and soybeans. Economists surveyed by Bloomberg had predicted the trade deficit would expand to $45 billion. Bloomberg (11/8), Medill Reports (Northwestern University) (11/8) LinkedInFacebookTwitterEmail this Story
  Building Your Practice 
  • Other News
Ideals are like stars ... you choose them as your guides, and following them, you will reach your destiny."
--Carl Schurz,
German-born American statesman

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