April 20, 2021
Retirement Security SmartBrief
Financial and wealth management news for the retirement communitySIGN UP ⋅   SHARE
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Personal Capital has examined anonymized data from 2.8 million users to determine the average amount retirement savers have accumulated. Here is a look at amounts saved by different generations and by people in each state.
Full Story: CNBC (4/13) 
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The prospect of tax increases has created a new urgency for older, wealthier savers approaching retirement to consider certain planning strategies. One option is to perform Roth conversions for some of the assets held in traditional IRAs or 401(k)s.
Full Story: Financial Planning (4/6) 
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People thinking of retiring soon should be aware of the challenges of leaving the workforce during a market peak and the potential for sequence-of-return risk.
Full Story: CNBC (4/13) 
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Married couples should make sure the beneficiary designations on their IRAs are updated. Otherwise, other heirs might be able to access the accounts, and the rollover rights of the surviving spouses might be compromised.
Full Story: TheStreet (4/9) 
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Market Trends
The big increase in the money supply in the US is devaluing bonds, leading some financial experts to question the wisdom of a traditional investment portfolio of 60% stocks and 40% bonds. However, some advisers say they are staying the course, pointing to the long-term track record of the strategy's success in providing solid returns while reducing risk.
Full Story: InvestmentNews (tiered subscription model) (4/9) 
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Financial Literacy
When the IRS released its interpretation of the Setting Every Community Up for Retirement Enhancement Act's 10-year required minimum distribution rule for post-death payouts, it was not what many people in the financial industry anticipated, writes Ed Slott. The newly released publication said most non-spouse designated beneficiaries must take distributions in each of the 10 years, Slott writes.
Full Story: InvestmentNews (tiered subscription model) (4/12) 
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Retirees might be unfamiliar with certain tax rules, potentially affecting the amount they end up paying. Here are 10 key tax questions related to issues such as Social Security benefits, required minimum distributions and withdrawals from IRAs.
Full Story: Kiplinger's Personal Finance (4/7) 
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On the Economy
Federal Reserve researchers attribute the global rise in personal saving to the coronavirus crisis and the government support that accompanied it, particularly in the US, where much of the financial relief went directly to households. When the crisis fades, a consumer spending surge would be beneficial to the overall economy, but the researchers play down that likelihood, noting: "There is only so much pop that pent-up demand for services such as travel, restaurant meals, and entertainment can deliver."
Full Story: Liberty Street Economics (Federal Reserve Bank of New York) (4/14) 
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The Adviser-Client Relationship
Wealthy people who have been managing their own investments, especially those with a financial background, can be loathe to turn over even some control to a financial adviser, writes Jonathan Bergman of TAG Associates. Bergman has developed a playbook to show these individuals the value of working with an adviser while still retaining control over their finances.
Full Story: WealthManagement (4/9) 
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The financial-services industry must evolve to help close the financial literacy gap for women, says Leslie Thompson of Spectrum Management Group. Women may be more comfortable discussing certain issues with female advisers, Thompson notes.
Full Story: Financial Advisor (4/9) 
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It is so easy to exist instead of live. Unless you know there is a clock ticking.
Anna Quindlen,
writer, journalist, columnist
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