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February 20, 2013
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Financial and wealth management news for the retirement community

  Top News 
 
  • Global survey finds people expect to run out of cash in retirement
    On average, people expect they'll live 18 years in retirement but that they'll run out of money after 10 years, a survey shows. The global study from HSBC found that workers are pessimistic about their ability to save for retirement, citing education costs, health care expenses and job losses. More than half said they don't save enough, and 20% say they haven't saved anything. CNNMoney (2/19) LinkedInFacebookTwitterEmail this Story
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  Industry Update 
 
  • Calif. retirement plan will take 2 years to get started
    California lawmakers approved a plan to help workers save for retirement through a state-run investment pool, but the plan requires a privately funded feasibility study before the program can become operational. Some say the program, which has no cost to taxpayers, could be a national model. "It's amazing, and depressing, when political compromise functions only to throw obstacles in the way of ideas that bring the greatest good to the greatest number of people," Michael Hiltzik writes. Los Angeles Times (tiered subscription model) (2/19) LinkedInFacebookTwitterEmail this Story
Get with the flow. How payment processing affects cash flow.
Cash flow is the lubricant of business. Without a healthy cash flow, business dries up. It stops. It can't function. Which is why it is vital to keep the revenues coming in as the expenses go out. But there's one aspect of cash flow that many of us are not aware of. It is how managing credit cards and other such non-cash payments affect cash flow. Turns out it has a huge affect. Download the free guide today.
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  Financial Literacy 
  • Commentary: Make financial training part of everyday courses
    Children can learn financial concepts much more easily when the concepts are part of the broader school curriculum, writes Amy Rosen of the President's Advisory Council on Financial Capability. The council has worked on ways to achieve this integration, and this week it presented its findings. Forbes (2/19) LinkedInFacebookTwitterEmail this Story
  On the Economy 
  • Obama warns of harm to economy from automatic cuts
    Thousands of jobs and the U.S. economy will be put in danger if budget sequestration takes effect March 1, imposing $85 billion in spending cuts, President Barack Obama says. He appealed to Republican lawmakers to back a debt-reduction plan that relies on a combination of revenues from eliminating tax breaks for the wealthy and a spending reduction. Republicans said Obama was merely trying to shift the blame for the sequester. USA Today (2/19), NBC News/First Read blog (2/19), The Washington Post (2/19) LinkedInFacebookTwitterEmail this Story
  Building Your Practice 
  • Survey: Many upper-middle-income investors are open to tax advice
    Investors between the ages of 35 and 64 who have incomes of $150,000 to $249,000 are among the most receptive to financial advice about federal tax changes, according to a Nationwide Financial survey. About half of respondents in that income bracket were receptive to making changes in their portfolio, and a similar percentage expressed interest in annuities, according to the survey. Financial Advisor online (2/19) LinkedInFacebookTwitterEmail this Story
  • Advisers must recruit right talent to expand, report says
    During the next 10 years, the financial-advisory industry will need to add 237,000 advisers to meet surging demand for services, according to a report by Pershing. Finding and attracting the right talent to replace retiring advisers will be essential for firms to enjoy strong and sustainable growth, the report says. Financial-Planning.com (2/18) LinkedInFacebookTwitterEmail this Story
  SmartQuote 
We deceive ourselves when we fancy that only weakness needs support. Strength needs it far more."
--Anne Sophie Swetchine,
Russian mystic


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