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January 29, 2013
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Financial and wealth management news for the retirement community

  Top News 
  • Harkin to push retirement-plan proposal before leaving Senate
    A retirement-plan proposal outlined last year will be one of Sen. Tom Harkin's priorities in his last two years in the Senate. Harkin's office says he is likely to introduce next month a bill calling for the creation of a universal pension-style retirement plan that reduces burdens on employers. "I think it's time to go on the offense," Harkin says. "I really do believe that the time is right for us to put a new system in place." AdvisorOne (1/28), Pensions & Investments (free registration) (1/28) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • Next 4 years could bring retirement-reform efforts, expert says
    President Barack Obama is likely to push for mandatory, automatic IRAs for most Americans during his second term, ERISA lawyer Marcia Wagner said at an industry event. Meanwhile, other retirement-related reforms, including tax incentives for retirement savings, will remain a focus in Congress, Wagner says. (1/28) LinkedInFacebookTwitterEmail this Story
  • Congress should end its pension plan, some lawmakers say
    Congress should wind down its defined-benefit retirement plan for members, a bipartisan group of House lawmakers says. The group backs a bill that would freeze benefits for existing beneficiaries and shut the system off to new participants. "I continue to believe that during these challenging economic times Congress must be willing to share in the sacrifice required by all Americans and lead by example," said Rep. Mike Coffman, R-Colo., the bill's sponsor. The Hill/Floor Action Blog (1/28) LinkedInFacebookTwitterEmail this Story
  • Older Americans turn to credit cards, study finds
    Baby boomers have traded places with younger consumers in terms of credit card debt in the past five years, running up larger bills and making retirement planning even more problematic, an AARP report says. "Credit card debt, too often portrayed as a problem of irresponsible young people who get carried away at the mall, must now be recognized as a serious issue for people age 50+," the report says. (1/24) LinkedInFacebookTwitterEmail this Story
  Financial Literacy 
  • The details behind retirement maxims
    Easy-to-digest maxims about retirement investing can lead some investors astray, depending on the details of their financial goals, wealth manager Dune Thorne writes. For example, phasing out risky investments later in life might be the wrong strategy for an investor using a retirement account to generate money to leave to children. InvestmentNews (free registration) (1/29) LinkedInFacebookTwitterEmail this Story
  On the Economy 
  Building Your Practice 
  • Commentary: Technology offers solutions for advisers
    Digital trends such as cloud computing are making innovative software available to startups and allowing financial advisers to take business and client data with them when they change firms, Michael Kitces writes. In addition, application programming interfaces for software are making it increasingly possible for advisers to unify their financial-planning software, portfolio management and reporting, and client-relationship management, Kitces writes. The result is less costly, more efficient and more innovative solutions for individual advisers and firms of all sizes, he writes. Nerd's Eye View blog (1/28) LinkedInFacebookTwitterEmail this Story
  • Adviser guides elderly couple in replenishing their retirement fund
    A 70-year-old physician and his wife were able to rebuild their retirement savings from nearly zero in five years by establishing defined-benefit and 401(k) plans for his office, says Amir Arbabi of Retirement Benefits Group. The cost of the plans to the doctor's business -- $17,000 plus matching contributions for an employee -- were worthwhile because they allowed the couple to save $220,000 per year, Arbabi said. The Wall Street Journal (1/28) LinkedInFacebookTwitterEmail this Story
We have more ability than willpower, and it is often an excuse to ourselves that we imagine that things are impossible."
--Fran├žois de la Rochefoucauld,
French writer

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