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January 22, 2013
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Financial and wealth management news for the retirement community

  Top News 
  • How target-date funds can fall short
    Investors are flocking to target-date funds, but some experts warn that the funds' annual returns are lower than many people will need for building up sufficient retirement savings. Over the past five years, the average fund with 2015 as the target date grew just 2% a year, while standard planning models are based on 6% returns. Possible solutions, experts say, include choosing a fund with a later date and directing new 401(k) contributions into higher-risk investments. The Wall Street Journal (1/21) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • Early retirees face the high cost of health insurance
    Those who retire between ages 50 and 64 are faced with procuring health insurance, whether through a spouse, COBRA or an individual plan, before Medicare kicks in at age 65, Nathan Solheim writes. But while the Affordable Care Act aims to make insurance universally available, the cost may be high, experts say. "Everyone will be able to get it. But will everyone be able to afford it?" says John Gaglione of GBSA Insurance. (1/21) LinkedInFacebookTwitterEmail this Story
  • Commentary: How to get small-business owners to save more
    Most workers who are self-employed do not contribute to a retirement plan, studies show. More might save for retirement if they had to opt out of instead of opting in to savings plans, Scott Shane writes. Simplifying the set-up process for retirement plans also would help. "[A]llowing people to set up these plans online with one or two clicks and only a couple of choices would increase the number of people willing to do so," Shane writes. Entrepreneur online (1/18) LinkedInFacebookTwitterEmail this Story
  • Other News
  Financial Literacy 
  • FDIC's guide offers financial lessons for youths
    The Federal Deposit Insurance Corp. is offering a money guide on its website to educate teens and young adults about financial issues such as credit cards, interest rates and managing money. Other information includes tips for getting a good auto loan and repaying student loans. The Kansas City Star (Mo.) (1/21) LinkedInFacebookTwitterEmail this Story
  On the Economy 
  Building Your Practice 
  • Online platforms challenge financial advisers
    Financial advisers are facing a growing challenge in attracting and keeping clients from Internet firms that offer investments, financial planning and advice. Since the financial crisis, many wealthy investors have shifted assets from fee-based advisers to inexpensive, self-directed accounts, according to Cerulli Associates. InvestmentNews (free registration) (1/20) LinkedInFacebookTwitterEmail this Story
  • Commentary: Jargon doesn't build clients' trust
    Financial advisers who seek clients' trust with jargon-laden assurances that they're fiduciaries are likely to have the opposite effect on prospects, Michael Kitces writes. Kitces recommends Stephen Covey's "The Speed of Trust" for its outlining of four traits that build credibility, such as integrity and capabilities, the latter of which Kitces says underscores the need for financial advisers to develop a niche. Nerd's Eye View blog (1/21) LinkedInFacebookTwitterEmail this Story
A successful person is one who can lay a firm foundation with the bricks that others throw at him or her."
--David Brinkley,
American newscaster

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