With high incomes, doctors' retirement planning falters | Study: 4% rule no longer realistic | Marriage trends spell trouble for black women's retirement
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February 28, 2014
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With high incomes, doctors' retirement planning falters
Doctors aren't saving enough to finance a comfortable retirement, according to new research. Many are burdened with student loans, under professional duress immediately and under pressure to appear well-off financially. Many respond by delaying efforts to save for retirement. NBC News (2/27)
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Study: 4% rule no longer realistic
The 4% rule was born 20 years ago in a Journal of Financial Planning paper. These days, more retirement savers are concluding that the rule on how much to withdraw each year from retirement accounts no longer holds. A recent study suggests a more dynamic approach that allows the rate to change over time based on various factors such as changes in wealth and age. InvestmentNews (free registration) (2/27)
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Market Trends
Marriage trends spell trouble for black women's retirement
Retirement security for black women is taking the biggest hit as American marriage rates drop, the General Accountability Office reports. Women cannot claim spousal benefits from Social Security if they have never been married or were married for less than 10 years. The GAO reports that the percentage of ineligible black women aged 50-59 was more than double the rate for all women. Financial Advisor online (2/27)
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Weekly inflow into equity funds remains strong
In the week that ended Wednesday, stock mutual funds attracted investment inflow for the third week in a row. "After losing their way in January, investors have returned to equity funds with a lot more optimism," said Jeff Tjornehoj, Lipper's head of research for the Americas. Investors also poured money into taxable bond funds and equity exchange-traded funds. Reuters (2/27)
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New software predicts how world events will affect your portfolio
New software can model how investment portfolios are likely to be affected by major world events, such as political upheaval abroad and major financial market shocks. Such software is available to advisers and may become more popular over time. InvestmentNews (free registration) (2/27)
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Financial Literacy
Small-business owners, plan carefully for retirement
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Entrepreneurs shouldn't assume they can simply sell their businesses and walk away when it's time to retire. Wells Fargo's Richard Watson warns that small-business owners should expect a sale to take plenty of time, from cleaning up shop before listing to a years-long payoff. He urges owners to maintain some assets apart from the business. Fox Business Small Business Center (2/27)
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How to finance overseas retirement with flexible work
Finding a job in a foreign country may not be easy, but Kathleen Peddicord writes that a little ingenuity can help expatriate retirees supplement their income. She offers several real-life examples of how retirees abroad are helping pay the bills by writing, consulting and working for international companies. U.S. News & World Report/On Retirement blog (2/27)
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On the Economy
Retirement savings would be hurt by tax-reform plan, groups say
Changes to tax law proposed by Rep. Dave Camp, R-Mich., would reduce the amount of money Americans save for retirement, according to organizations representing financial firms and big employers. The consequence might include reduced availability of savings plans, higher costs and added plan-management complexity. Financial Advisor online (2/27), PlanAdviser.com (2/27)
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The Adviser-Client Relationship
If your investment account is sold, you might be better off
Investors should be aware that more financial advisers, as they approach retirement, are selling their small accounts. They do this to ease their workloads and generate some income. In some cases, clients may benefit as well, as they might end up with a financial adviser better suited to their needs. InvestmentNews (free registration) (2/27)
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Survey: Most advisers back 529 college-savings plans
Tax-advantaged Section 529 college-savings plans have support from most registered investment advisers, according to a survey by TD Ameritrade Institutional. Among respondents, 92% say they have recommended 529 plans to clients. However, more than half of respondents express reservations about the quality of investment options offered by 529 plans. Financial Advisor online (2/27), InvestmentNews (free registration) (2/25)
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