Annuities are an option for financing long-term care for people who didn't buy insurance early enough, writes Chris Orestis of Life Care Funding. A guaranteed income stream can cover long-term care and retirement expenses through the purchase of a medically underwritten immediate annuity, he writes. LifeHealthPro (11/29)
The Labor Department's fiduciary rule is one of several rules finalized during President Barack Obama's administration that could be ended, changed or delayed by President-elect Donald Trump's incoming administration. The new Labor secretary could stop the fiduciary rule by settling lawsuits against it, says Mark Calabria of the Cato Institute….
US District Judge Daniel Crabtree has denied a preliminary injunction to prevent the Labor Department from enforcing its fiduciary rule. Market Synergy Group, which develops fixed-indexed annuities and other insurance products, failed to show that the Labor Department had exceeded authority or had treated fixed-indexed annuities capriciously, the judge says….
Members of the Federal Reserve's governing board largely concluded that economic data support an interest-rate increase in the near future, according to recently released minutes of their November meeting. Several officials said rates would likely be raised at the Fed's December meeting. Bloomberg (11/23), U.S. News & World Report (11/23)
Financial planners offer their advice to retirees and those nearing retirement in light of the results of this month's elections. Among other things, they advise deferring taxable results and any estate plan changes until the new year in anticipation of possible interest-rate cuts. MarketWatch (11/25)
The principles underlying the Labor Department's new fiduciary rule could become routine practice in the financial-services industry, even if the administration of President-elect Donald Trump repeals the rule itself, industry experts say. Many major financial firms have incorporated the requirements into their procedures and the rule could become the de…
Poverty of liquid assets and increasing income volatility are among eight trends in the US economy impinging on Americans' prospects for retirement, said John Kalamarides, head of Prudential Financial Full Service Solutions. He also identified the growth of educational debt and precarious employment in the 1099 economy as major factors,…
Many encouraging changes are happening in the long-term care insurance market. Over the course of the year, carriers have entered the market, recommitted to the market, and introduced new innovative products. Long-term care insurance is a product with a future and there is a large market of people in need…
The Labor Department fiduciary rule won't end annuity sales to people preparing for retirement, but it will bring big changes to the way the products are sold, industry experts say. The rule will bring some less costly and more transparent products to the market, the experts say. Financial Advisor online…
Many people preparing for retirement could benefit from buying an annuity but miss out because they lack an understanding of the products, Walter Updegrave writes. Annuities' "mortality credits" make their returns hard to surpass without assuming greater risk, he writes. Money magazine (11/1)
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