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December 21, 2012
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Financial and wealth management news for the retirement community

  Top News 
  • Deficit talks raise prospect of higher Medicare premiums for some
    About 2 million higher-income retirees could see their Medicare premiums increase under a plan supported by both the Obama administration and congressional Republicans. The number of affected seniors could grow to 25% of Medicare recipients from the current 5%, according to experts. "Politicians have been afraid to charge full fare because of public reaction. But that time is coming to an end," said Robert Bixby of the Concord Coalition, which is pushing to reduce the deficit. The Washington Post/The Associated Press (12/20) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • Study: Target-date funds are a growing option in 401(k) plans
    The percentage of 401(k) plans that offer target-date funds increased from 57% in 2006 to about 75% last year, with 39% of participants actively invested in the funds, according to a study by the Employee Benefit Research Institute and the Investment Company Institute. "Participants increasingly use tools such as target-date funds, which are designed to offer a mixed investment portfolio of equity and fixed-income securities that automatically rebalances to be more focused on income over time, to get diversification," said Sarah Holden, a co-author of the study. (12/20) LinkedInFacebookTwitterEmail this Story
  • Stock market pushes public-pension holdings to 4-year high
    Public-pension holdings in the U.S. hit $2.8 trillion in the third quarter, up 2.6% from the second quarter; the total is the highest level since the second quarter of 2008, according to census data. Despite the uptick, pension plans are still short $757 billion of what they need to pay future benefits, Pew Center on the States says. Reuters (12/20) LinkedInFacebookTwitterEmail this Story
  • Other News
  Financial Literacy 
  • partners with Chase to boost financial literacy
    Black Eyed Peas singer is partnering with Chase Bank to increase financial literacy in the economically disadvantaged East Los Angeles neighborhood where he grew up. Chase will open a home-ownership center in the neighborhood to counsel homeowners on their mortgages and offer other services. The musician said that when he first began collecting paychecks, he didn't know how to manage his money. "My concept of saving was putting my check in my glove compartment," he said. Fox Business (12/19) LinkedInFacebookTwitterEmail this Story
  • Use the holidays to talk about retirement planning with family
    Holidays are a great time to ask family members questions about their retirement plans and experiences, such as how they are drawing down their savings and how many drug prescriptions they have, Steve Vernon writes. "You could learn some valuable lessons that might help you prepare for your own retirement," he writes. CBS MoneyWatch (12/21) LinkedInFacebookTwitterEmail this Story
  On the Economy 
  • "Plan B" fails to garner enough votes to pass House
    House Speaker John Boehner, R-Ohio, was forced to abandon his "fiscal cliff" proposal when it became clear there wasn't enough support to pass the measure in the Republican-controlled House of Representatives. The failure of "Plan B" raises the level of uncertainty about whether Republican leaders and President Barack Obama can reach a deal before the year ends. Reuters (12/21), The Washington Post (12/20), USA Today (12/21) LinkedInFacebookTwitterEmail this Story
  Building Your Practice 
  • Other News
  Financial Products 
  • Analysis: Equities beckon for investors in 2013
    Investors are expected to shift their attention from bonds to equities in 2013 as they seek higher yields in a rebounding economy, experts say. The hottest sectors, according to experts, are expected to include U.S. housing; consumer-sector companies with a global reach; health care; and products geared toward consumers in emerging markets. AdvisorOne (12/19) LinkedInFacebookTwitterEmail this Story
I do not want to live in paradise; this world is enough, so broken and so full of promise."
--Pam Durban,
American writer

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