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January 4, 2013
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Financial and wealth management news for the retirement community

  Top News 
  • Analysts question revenue expectations from 401(k) rule change
    Some retirement experts say a 401(k)-related provision in the "fiscal cliff" deal is unlikely to generate the $12.2 billion over 10 years that policymakers have estimated. Under the provision, more workers can move their money from traditional 401(k) plans to Roth 401(k) plans. Some say that few workers will have reason to convert, and those who do are simply shifting their tax payments ahead by several years instead of bringing in new tax dollars. Reuters (1/3) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • Who should convert from 401(k) to Roth 401(k)?
    The 401(k) conversions now allowed under federal law might make sense for investors who want to leave tax-free inheritances, regardless of the up-front costs, experts say. Conversions to a Roth 401(k) also might make sense for investors who expect to retire in a higher tax bracket or who have tax deductions and credits that would offset the taxes due as a result of the conversion. Consultant Jeffrey Levine says it's rarely wise to convert if an investor has to tap his or her retirement savings accounts to pay the taxes. MarketWatch (1/3) LinkedInFacebookTwitterEmail this Story
  • How estate-tax changes will affect life insurance sales
    Had lawmakers failed to reach a "fiscal cliff" solution, the estate-tax exemption would have reset to a lower threshold and the tax rate would have jumped, giving agents and advisers selling life insurance a new sales strategy. While that didn't happen, life insurance remains a good investment, some say. "Estate planning isn't estate-tax planning," says Jim Swink of Raymond James Insurance Group. InvestmentNews (free registration) (1/3) LinkedInFacebookTwitterEmail this Story
  • Governments bet on borrowed money for pension payments
    Some cities and states are borrowing to cover their pension obligations, betting that the interest on their investments will exceed the interest they pay to borrow the money. But some say it's a risky gamble. "It's like borrowing money to pay your groceries. If you do that every month, you're going to end up with a lot of debt, and you continue to need to pay your groceries," said Marcia Van Wagner of Moody's Investors Service. The Washington Post/The Associated Press (1/3) LinkedInFacebookTwitterEmail this Story
  Financial Literacy 
  • University's financial-literacy program targets debt
    Morgan State University has partnered with financial institutions to create a financial-literacy program that teaches students about managing their credit, money and bills. Members of the college's athletic teams are required to take the course. The program is meant to "reverse the cycle of low family income and socio-economic status by enhancing the financial literacy," says Tiffany Mfume, director of the university's Office of Student Success and Retention. Diverse: Issues In Higher Education (1/2) LinkedInFacebookTwitterEmail this Story
  On the Economy 
  • Advisers are unimpressed with "fiscal cliff" deal
    Financial advisers don't share stock traders' enthusiasm about Congress' compromise to avert the U.S. "fiscal cliff," according to a survey by InvestmentNews. More than three-quarters of respondents said they don't think the deal will bring about long-term change in government spending, reduce the national debt or lead to tax reform. InvestmentNews (free registration) (1/3) LinkedInFacebookTwitterEmail this Story
  • U.S. jobless rate remained 7.8% last month
    The U.S. economy added 155,000 jobs in December, and the unemployment rate held at 7.8%, according to a U.S. government report. Economists had expected a better result. "The underlying economy is not yet strong enough to support aggressive estimates by economists on job growth," said Brian Sozzi of NBG Productions. CNBC (1/4) LinkedInFacebookTwitterEmail this Story
  Building Your Practice 
  • How to make the most of social media while staying compliant
    Financial advisers can reap the benefits of social media while observing compliance regulations, Caitlin Zucal writes, suggesting the use of platforms that connect with the targeted audience and remaining patient when developing a circle of followers. Advisers also should find creative ways to make their social media offerings stand out, and firms should establish clear policies to ensure that ethics and governance are observed, she writes. Better Practice blog (1/3) LinkedInFacebookTwitterEmail this Story
Genius is nothing but a great aptitude for patience."
--Georges-Louis Leclerc Comte de Buffon,
French naturalist, mathematician, cosmologist and encyclopedia author

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