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February 6, 2013
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Financial and wealth management news for the retirement community

  Top News 
  • Study cites lower participation in defined-contribution plans
    Fewer people have pensions or put money into defined-contribution plans now compared with 2001, according to a study by University of Michigan researchers. "Our analysis confirms what everyone suspected -- people are using their retirement accounts to help when their kids are going to college or their spouse loses a job," said Frank Stafford, co-author of the study. (2/5) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • How baby boomers are putting their stamp on retirement
    Baby boomers are avoiding Florida and Arizona as retirement destinations in favor of North Carolina and Texas, or even seeking lower living costs in foreign countries, according to this article. The newer retirees are also starting businesses, using technology, living longer, helping their children and aging parents with expenses, and facing greater debt when they retire, experts say. Reuters (2/5) LinkedInFacebookTwitterEmail this Story
  • Opinion: Retirees need increased Social Security benefits
    The average retirement savings is $120,000 for people between ages 55 and 64, meaning that recent retirees and those approaching retirement will not be able to maintain their lifestyles without a significant change, Duncan Black writes. Increasing Social Security benefits is "the only realistic way to provide people with guaranteed economic security and comfort post-retirement," Black writes. USA Today (2/5) LinkedInFacebookTwitterEmail this Story
  Financial Literacy 
  • Steps to take after getting the full 401(k) match
    Workers who have made the maximum 401(k) contribution to get a company match and have money left over to save have several options, according to this article. They can turn to a Roth IRA, make unmatched 401(k) contributions, and consider taxable investments or a nondeductible IRA. (2/5) LinkedInFacebookTwitterEmail this Story
  • The benefits of holding on to a tax refund
    A tax refund can be invested in an IRA, possibly saving on taxes in the future, Emily Brandon writes. A refund also can be used for buying savings bonds and Treasury securities, she writes. Another option is stashing the money in a Roth IRA, and saving at least $50 of the refund may net a cash prize from the nonprofit Doorways to Dreams Fund. U.S. News & World Report/Planning to Retire blog (2/5) LinkedInFacebookTwitterEmail this Story
  On the Economy 
  Building Your Practice 
  • Planner: Blogs can inform prospects, convert them into clients
    A financial-services blog is an effective way to attract readers who can then be converted into clients, says Jason Wenk of Retirement Wealth Advisors. He advises prospective bloggers to first survey clients to determine their most pressing concerns, then use that information to craft engaging twice-weekly posts. The content should avoid sales pitches, but include a way for prospects to request further information, Wenk says. He also recommends seeking the services of a compliance officer and a lawyer. (2/4) LinkedInFacebookTwitterEmail this Story
  Financial Products 
We cannot live only for ourselves. A thousand fibers connect us with our fellow men."
--Herman Melville,
American writer and poet

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