Some observers have touted life insurance as a sound alternative to a 529 plan for funding college tuition. Before considering such a strategy, advisers and their clients need to ask questions, including whether the student might not go to college, whether the student will need financial aid and whether the…
Sen. Elizabeth Warren, D-Mass., has introduced the Seniors and Veterans Emergency Benefits Act, which would give millions of Social Security recipients an extra $581 in 2016. The payments would be paid for by eliminating a CEO performance pay tax break for companies. InvestmentNews (11/6)
Advisers should prepare their clients for slow growth in the foreseeable future by lowering living expenses, increasing savings and accepting higher risk in portfolios, this editorial argues. InvestmentNews (11/1)
A Hearts & Wallets report predicts sales of defined-contribution investment-only plans will grow from to $4.1 trillion by 2020. Asset-management fees for the plans, however, are likely to decrease because of rising use of target-date funds, the report says. National Underwriter Life & Health (11/3)
Insurance companies that sell investment-only variable annuities are adding optional death benefits to the products. AXA Equitable Life and Nationwide rolled out such IOVAs this year, and Lincoln Financial Group will follow suit this month. InvestmentNews (11/4)
Disability insurance can replace up to 70% of income lost because of an inability to work, but 70% of workers have no long-term disability coverage. More than 1 in 4 20-year-olds today will become disabled before they reach 67, according to the Social Security Administration, and 43% of today’s 40-year-olds…
The myRA savings plan for workers whose employers don’t offer a retirement plan has opened for business. There’s no minimum investment and no fee to open an account. This plan is open to individuals with an annual salary of less than $131,000 and to couples filing joint tax returns who…
No one wants to end up in a nursing home, and many clients think avoiding the long-term-care conversation solves that problem. Just the opposite is true. Home-accessibility expert Rob Horkheimer joins us for Long-Term Care Awareness Month to discuss cost-effective solutions that allow clients flexibility and independence in retirement. Register…
Advisers’ interest in low-cost annuities could pick up if the Labor Department passes a fiduciary rule, writes John Wasik. “The push by regulators for greater advisor accountability and more prudent investment recommendations will be a boon for products that offer client-friendly features and lower costs,” he writes. Financial-Planning.com (11/2)
High student debt has altered life for many people, with some pushing back major life events such as marriage or starting a business, the 2015 Student Loan Burden Report says. NBC News (11/3)
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