Fidelity: Baby boomers overweighted in stocks, vulnerable to downturn | Early retirement not so fanciful for millennials | Women doubt they're doing a good job of financial planning
March 22, 2019
Retirement Security SmartBrief
Financial and wealth management news for the retirement community
Top News
Fidelity: Baby boomers overweighted in stocks, vulnerable to downturn
About half of baby boomers' 401(k) plans have allocations to stocks that are higher than what Fidelity recommends for their age group, putting them at greater risk in a market downturn, a recent study found. Fidelity recommends baby boomers allocate 54% to stocks and the remainder of their retirement account to safer assets.
CNBC (3/20) 
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Early retirement not so fanciful for millennials
Early retirement may appear out of reach for millennials when considering school debt and other factors. But it might still be possible if they're willing to make some adjustments and sacrifices, Pavithra Mohan writes.
Fast Company online (3/21) 
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Women doubt they're doing a good job of financial planning
A survey by Lincoln Financial found that most women prioritize planning for retirement and their family's future, but more than seven in 10 believe they are not doing a very good job. Running out of money in retirement is a big worry for 70% of women, but only 20% of them have come up with a plan to deal with this challenge.
PlanAdviser online (3/20) 
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Nursing home care quality hit by low Medicaid reimbursement rates
The quality of care in nursing homes is negatively affected by low Medicaid reimbursement rates, particularly in rural areas, said experts who testified before the Senate Finance Committee. The wages typically offered by nursing homes are not enough to attract and retain good employees, they said.
ThinkAdvisor (free registration) (3/18) 
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Mobile Device Usage is a Threat to Data Security
74% of global IT leaders reported a data breach due to a mobile security issue. Discover how cybersecurity is shifting to meet the needs of a mobile world, and why it's critical to not fall behind. Learn how to protect your organization from mobile threats in The Convergence of InfoSec & Mobile.
Market Trends
Strategists: Fed policy is main driver of buoyant stocks
Strategists say the Federal Reserve's switch to accommodation is the main reason the US stock market continues to climb, despite concerns about an economic slowdown and a decline in corporate earnings. JPMorgan Chase strategist Marko Kolanovic calls the switch "an enormous shift in monetary policy" and says "it is clear that the dovish turn is here to stay, and this should be a sustained tail wind for risky assets."
CNBC (3/21) 
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Hoya Capital launches ETF focused on housing
Hoya Capital Real Estate has brought to NYSE Arca an exchange-traded fund offering broad exposure to the US housing sector. The Hoya Capital Housing ETF is linked to the Hoya Capital Housing 100 Index.
ETF Trends (3/20) 
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Financial Literacy
Medicare pays for wellness visit, but not annual exam
Medicare patients may not know that an annual physical, which can include lab tests, is not a covered benefit, while the annual wellness visit, which is more general and focused on prevention, is fully covered. The wellness visit was established through the Affordable Care Act, but if it extends beyond specific covered services, beneficiaries can be billed for other charges. Medicare Advantage plans, however, may cover annual physicals.
Kaiser Health News (3/20) 
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On the Economy
Fed kept growth from reaching 4% last year, Trump says
The US economy would have grown more than 4% last year if the Federal Reserve hadn't raised interest rates and scaled back bond holdings, President Donald Trump said. US GDP grew 2.9% on an annualized basis in 2018.
The Associated Press (3/21),  Politico (3/21),  Fox Business (3/22) 
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Report shows sharp downturn in CEOs' economic expectations
CEOs' expectations for the US economy dropped notably in the fourth quarter, falling below the level immediately before the passage of the Tax Cuts and Jobs Act, according to the latest Business Roundtable CEO Economic Outlook Index. In contrast to the sharp rise in optimism recorded at the start of 2018, CEO expectations on employment, sales, capital spending and overall economic growth in the US have fallen.
Barron's (free access for SmartBrief readers) (3/20) 
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The Adviser-Client Relationship
3 keys to becoming an elite financial adviser
Advisers who want to take their careers to the next level must be willing to constantly and confidently prospect, Matt Oechsli writes. He puts forth three key skills advisers must master to do so.
WealthManagement (3/20) 
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Young girls need to see role models in whatever careers they might choose, just so they can picture themselves doing those jobs someday. You can't be what you can't see.
Sally Ride,
astronaut and first American woman in space

March is Women's History Month

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