Tech may help retirees stay in their homes | Survey: 27% of adults worried about parents' finances | Sen. Sanders wants transaction tax as rescue repayment
May 23, 2019
Retirement Security SmartBrief
Financial and wealth management news for the retirement community
Top News
Tech may help retirees stay in their homes
More than three-quarters of adults over 50 would like to stay in their current homes as they age, but many believe that won't be possible as their infirmities add up. However, technology may be able to help with the advent of things such as smart appliances and speakers equipped with artificial intelligence.
MarketWatch (5/22) 
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Survey: 27% of adults worried about parents' finances
A survey from TIAA found that 27% of adults are concerned about the financial security of their parents, and that those who are were more likely to worry about their own retirement security. The survey showed millennials have the most confidence in their parents' financial outlooks and baby boomers have the least.
ThinkAdvisor (free registration) (5/21) 
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Sen. Sanders wants transaction tax as rescue repayment
Sen. Bernie Sanders, I-Vt., has introduced legislation for a financial-transaction tax of 0.5% for stocks, 0.1% for bonds and 0.005% for derivatives. The measure would recompense taxpayers for the Wall Street rescue after the financial crisis and would reduce the cost of college education, Sanders says.
Bloomberg (tiered subscription model) (5/22) 
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Survey: Yield seekers shift money to online banks
A NerdWallet survey of more than 2,000 adults finds 21% of respondents have moved money to an online bank with a minimum interest rate of 2% during the past two years. The top reasons for not switching to an online bank are comfort with one's bank and a need to visit a branch.
USA Today (5/23) 
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Market Trends
10-year stock rally could end, analyst says
The stock market needs to rebound toward a high to maintain a rally that has lasted a decade, technical analyst Andrew Adams says. Momentum is flagging, and the Dow Jones Industrial Average, the Nasdaq composite and the Russell 2000 index are under pressure, and the S&P 500 has potential to dip below an uptrend in place since 2009, Andrews says.
MarketWatch (5/22) 
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Exchange Traded Concepts launches 2 AI-based ETFs
Exchange Traded Concepts has brought to NYSE Arca two artificial intelligence-based exchange-traded funds that use the Qraft AI Quantitative Investment System to pursue different strategies. The Qraft AI-Enhanced US Large-Cap ETF invests in stocks based on risk, quality, momentum, size and valuation, while the Qraft AI-Enhanced US Large-Cap Momentum ETF buys stocks based on momentum.
ETF (5/21) 
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Financial Literacy
3 strategies for pre-retirees with no savings
People approaching retirement age with little or no savings are in a situation that is difficult but not hopeless. There are three practical "catch-up" strategies financial planning experts recommend.
Fox Business (5/22) 
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On the Economy
Minutes: Fed confident on patient approach to rates
Federal Reserve officials are in agreement a patient approach to interest rates is the right course to take "for some time," according to meeting minutes. Many members support Chairman Jerome Powell's opinion that recent weakening of inflation is "likely to be transitory."
BNN Bloomberg (Canada) (5/22),  Investing (Cyprus) (5/22) 
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The Adviser-Client Relationship
3 ways to prevent clients from investing based on emotions
Global market volatility and the 24/7 news cycle make investors more likely to base decisions on emotion, write Colby Payne and Molly Weiss. They offer three strategies advisers can use to help prevent emotional investing, beginning with a focus on financial planning and investor education.
InvestmentNews (tiered subscription model) (5/21) 
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Law firm: State, federal fiduciary regulations proliferating
A patchwork of state and federal fiduciary and best-interest investment advice regulation is emerging, according to the Eversheds Sutherland law firm. The firm has created a chart to help financial professionals keep track of them.
JD Supra (5/21) 
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It's so simple to be wise. Just think of something stupid to say and then don't say it.
Sam Levenson,

May is Jewish American Heritage Month

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