Pairing a qualified longevity annuity contract with strategic withdrawals from traditional assets early in retirement can ensure income throughout retirement, write Robert Bloink and William Byrnes. Such a strategy can streamline retirement planning, which appeals to middle-market clients, Bloink and Byrnes write. ThinkAdvisor (10/20)
More baby boomers are in mental decline, and the economic and retirement consequences are profound, writes Justin Fox. The number of people with dementia or some kind of cognitive impairment “will really explode when the baby boomers start hitting 80 a decade from now,” he notes. Bloomberg (10/29)
Research from the Employee Benefit Research Institute found that the amount of savings necessary to cover health care costs in retirement is on the rise after several years of decline. The biggest reason is the projected cost of prescription drugs. PlanAdviser.com (10/29)
Barry Ritholtz argues that when it comes to retirement accounts, inequality seems to be on the rise. On one extreme are the many Americans who lack access to workplace retirement accounts; on the other end are corporate CEOs who have amassed millions in their retirement accounts. Bloomberg (10/29)
Some experts have bemoaned the House bill that ends the file-and-suspend Social Security claiming strategy. But Jamie Hopkins of the American College’s New York Life Center for Retirement Income sees two silver linings: The strategy itself was complex, and the move represents the first major upgrade to the Social Security…
Kalita Blessing earned her Chartered Advisor in Philanthropy designation in 2012. Since then, she has made philanthropy the focus of her practice, which has helped her stand out in the advice industry. WealthManagement.com (U.S.) (10/29)
A paper from Fiduciary Trust Co. offers some advice for financial advisers to better serve clients who have been diagnosed with Alzheimer’s or similar conditions. The first step is for family members and advisers to recognize the disease. ThinkAdvisor (10/22)
The Labor Department’s recently released Field Assistance Bulletin sought to resolve concerns by defined contribution plan sponsors about their fiduciary duties when making annuities available. The agency is also considering some changes to a safe harbor rule that it adopted in 2008. Plan Adviser magazine (September
Two advisers examine Nicole and Mike Zupans’ finances, including saving for retirement and their daughter’s education and their autistic son’s care. The Washington Post (tiered subscription model) (10/23)
Some common ideas about indexed universal life insurance are untrue, including that return-rate illustrations paint an overly rosy picture, that fees are too costly and that minimum-interest-rate guarantees are misleading, David McKnight writes. National Underwriter Life & Health (10/23)
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