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December 19, 2012
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Financial and wealth management news for the retirement community

  Top News 
  • What the "fiscal cliff" Social Security proposal means for benefits
    President Barack Obama and House Speaker John Boehner are discussing a possible change to Social Security's benefits formula as part of the "fiscal cliff" negotiations. The proposal would adjust the formula by which cost-of-living increases are calculated. Experts say the change could mean slightly smaller annual increases in benefits. Some say that would burden seniors, who spend a larger portion of their money on health care, the cost of which has risen especially fast. NBC News (12/18), ABC News/The Associated Press (12/19) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • Survey: Financial planning isn't a top New Year's resolution
    Financial planning isn't on the list of New Year's resolutions for 84% of Americans, according to a survey by Allianz Life Insurance. About a third of respondents said they don't think they make enough money to concern themselves with planning, while 20% said their reason is that they don't have an adviser and 26% said they already have a plan in place. "With the responsibility for retirement security shifting from employers to individuals, people need to become more, not less, active with financial planning to ensure they have enough money to fund a retirement that could last up to 30 years," said Katie Libbe of Allianz Life Insurance. (12/18) LinkedInFacebookTwitterEmail this Story
  • Advisers face challenges in analyzing Roth IRA conversions
    Financial advisers who are asked to recommend whether a client should convert a traditional individual retirement account to a Roth IRA face a complex task in a changing tax environment. The most obvious factor to consider is a 3.8% Medicare surtax on net investment income for some Americans, Scott Michalek writes. Financial Advisor online (12/18) LinkedInFacebookTwitterEmail this Story
  • Study: 401(k) participants want a little help from the boss
    Research indicates that participants in defined-contribution plans want help from employers in boosting their retirement savings, including access to automatic-increase features. Just 13% of small-employer plans have that feature, although more than half of surveyed participants in those plans say they want it, the study from Cogent Research showed. About half of larger employers offer the feature in their plans, but few participants sign up for it. (12/18) LinkedInFacebookTwitterEmail this Story
  • Other News
  Financial Literacy 
  • The best moves for seniors in a low-rate environment
    The Federal Reserve has said interest rates will stay low for several more years, which creates challenges for older Americans who need retirement income. Strategies for dealing with continued low rates include delaying retirement in order to boost Social Security benefits, lowering housing costs and considering higher-risk alternative investments, Mark Miller writes. Reuters (12/18) LinkedInFacebookTwitterEmail this Story
  On the Economy 
  Building Your Practice 
  Financial Products 
  • Sun Life annuity-unit sale raises questions about market
    Sun Life Financial's sale of its U.S. annuities operations sparks questions over the viability of variable annuities for insurers. Some experts say they are tough for insurers to hedge. "While they're nominally an insurance wrapper, they're more like structured notes than an annuity," said Mike Henkel of Achaean Financial. AdvisorOne (12/18) LinkedInFacebookTwitterEmail this Story
If the wind will not serve, take to the oars."
--Latin proverb

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