September 14, 2021
Retirement Security SmartBrief
Financial and wealth management news for the retirement communitySIGN UP ⋅   SHARE
Top News
Democrats in the House of Representatives have put forward plans to restructure retirement account rules for the wealthy, with the House Ways and Means Committee expected to vote on legislation this week. These include prohibiting IRA contributions from those with account balances over $10 million, raising required minimum distributions for high-income taxpayers with large balances, and prohibiting Roth conversions for people making more than $400,000 a year.
Full Story: ThinkAdvisor (free registration) (9/13),  CNBC (9/13) 
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Every adult, no matter how small their potential estate, needs an estate plan, experts say. Essential estate planning documents include a will, beneficiary designations and power of attorney.
Full Story: MarketWatch (tiered subscription model) (9/8) 
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A large number of Americans have retired earlier than expected during the pandemic, and millions of baby boomers are retiring annually. Here are several tips for maximizing savings and Social Security and managing withdrawals from retirement accounts.
Full Story: BenefitsPRO (free registration) (9/8) 
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A JPMorgan Asset Management research paper examines more than 31,000 people nearing or entering retirement, what types of retirement accounts they had, and how they withdrew and spent their money. Among their findings were that 80% made no withdrawals until they were required to, and those with annuities or pensions tended to spend more.
Full Story: ThinkAdvisor (free registration) (9/7) 
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What banking CFOs need to know in 2021
A year of challenge and change. Unprecedented opportunities to grow the balance sheet without incurring significant operating costs.
How banking executives are forging the future.
Market Trends
By the end of August, capital inflow to exchange-traded funds had hit $834.2 billion, topping a total of $762.8 billion for all of 2020. The strong appetite by investors has led many asset managers to bring their own ETFs to the market.
Full Story: Bloomberg (9/11),  Financial Times (subscription required) (9/10) 
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Financial Literacy
The 2019 Setting Every Community Up for Retirement Enhancement Act changed the rules on when beneficiaries of inherited 401(k)s or IRAs can take distributions. This article offers tips for avoiding costly mistakes.
Full Story: CNBC (9/8) 
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People who work past age 65 will need to weigh several factors as they consider whether to stick with their current health insurance or move to Medicare. Many issues will determine which is the best choice, including individual health needs and whether doctors will be in-network.
Full Story: ThinkAdvisor (free registration) (8/31) 
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Featured Content
Sponsored content from Expedia Group Media Solutions
Travel Recovery Trend Report Q2: The Recovery Continues
In the first quarter of 2021, we saw a number of positive signs for the travel industry as it started to emerge from the pandemic. The second quarter of the year saw further encouraging trends—including strong global search growth, rising international searches, and lengthening search windows—which give more cause for optimism. Explore these current trends, and more, in this snapshot of key findings taken from our latest Travel Recovery Trend Report.
On the Economy
Consumers' expectation of inflation over the coming three years edged up 0.3 percentage point in August to reach 4%, the highest level on record, according to the Federal Reserve Bank of New York. The average expectation for the year ahead increased to 5.2%, marking the 10th consecutive monthly rise and the highest point since 2013.
Full Story: BNN Bloomberg (Canada) (9/13),  Reuters (9/13) 
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The Adviser-Client Relationship
Financial advisers with clients who are supporting adult children and aging parents need to make sure those clients have a strong financial plan, write Jennifer McCarthy, Paulina Mejia and Leticia Hernandez of Fiduciary Trust. Among the steps they recommend for those in the "sandwich generation" are to get organized, have a contingency plan, and understand the needs of their children and parents.
Full Story: WealthManagement (9/7) 
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A survey by Spectrem Group shows qualities different types of investors look for in a financial adviser. The survey shows all groups favor honesty and trustworthiness in advisers, while other traits vary based on investors' professions.
Full Story: ThinkAdvisor (free registration) (9/7) 
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