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Study: 75% of Gen X interested in guaranteed income

Members of Generation X have now lived through two market crashes and those experiences have influenced their thoughts about saving for retirement, says Allianz Life’s Matt Gray. A new study from Allianz Life shows 71% of overall retirement plan participants surveyed were interested in guaranteed lifetime income, while 75% of…

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How to help clients avoid a retirement fail

Financial advisors need to warn retirees and people nearing retirement about possible failures and how to avoid them, retirement coach Robert Laura says. “The reason people are failing in retirement is because they are not thinking about the nonfinancial decisions,” he says. Full Story: Financial Advisor online

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Expert: Annuity can cover Social Security shortfall

If Social Security income isn’t enough to take care of basic fixed costs in retirement, purchasing an annuity can be an effective way to close the gap, says retirement income expert Wade Pfau. He recommends a straightforward immediate or deferred income annuity for this purpose rather than a more complex…

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Money mistakes that can hurt clients’ retirement

Financial advisors can help clients avoid money mistakes that can hurt them in retirement. The AARP recently highlighted six such mistakes, including buying a timeshare, avoiding the stock market and pulling from retirement funds to cover children’s education costs. Full Story: ThinkAdvisor

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A state-by-state look at the cost of retirement

The amount you need to save for retirement can vary from about $666,000 to more than $2 million, depending on where you live, according to GOBankingRates. This analysis breaks down the cheapest and most expensive states for retirement. MarketWatch

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Diversifying investments offers way to manage longevity risk

People are retiring earlier and living longer, making longevity one of the greatest risks retirees face, write portfolio managers Michael Meltzer and John Petrides. They suggest managing this risk by diversifying across investment classes and “[f]ocusing on protecting the ‘quality’ of the income stream by favoring companies with a strong…

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2020 brings changes for contribution limits, Social Security, Medicare

Clients will be able to contribute more money to their 401(k)s in 2020, and legislative changes will allow for IRA contributions past age 70½. There is a 1.6% cost-of-living adjustment for Social Security in 2020, but Medicare premiums are also set to rise. CNBC  

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SECURE Act to bring changes to how Americans save for retirement

Kiplinger’s tax editor Rocky Mengle explains 10 key ways the Setting Every Community Up for Retirement Enhancement Act, which President Donald Trump signed into law Friday in a financing package, changes retirement saving in the US. “While some provisions are administrative in nature or intended to raise revenue, most of…

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Is it time to rethink the 401(k)?

Many Americans don’t have access to 401(k) plans, and those who do often do not save enough for retirement. Disparities in retirement savings have intensified since the Great Recession, according to the Economic Policy Institute. CNBC

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Advisor: Help clients plan for being a caregiver or care receiver

Financial advisors should help clients prepare for the possibility of being either a caregiver or care receiver, writes financial planner Bryan Kuderna. IRAs and cash value life insurance can offer liquidity for those who retire early to become caregivers, while long-term-care insurance or setting aside money for a stipend to…

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