Entrepreneurs face special challenges when it comes to saving for retirement, and it's even more difficult for women, who tend to live longer than men, writes JoycePayne Partners' Marilee Falco. She offers five retirement strategies for women entrepreneurs, including a firm commitment to saving even when times are tough. Entrepreneur…
Few people who are retired or approaching retirement are getting income plans from financial professionals, research from the LIMRA Secure Retirement Institute found. Only 38% of pre-retirees and 35% of retirees have a formal, written retirement-income plan, according to LIMRA. InvestmentNews (tiered subscription model)
A survey of small-business owners shows 62% feel confident they are making adequate provisions for retirement but also reveals that 47% are saving less than a 10th of their income and 25% are saving nothing. The survey also showed the number of respondents who have more than $100,000 saved for…
More than half of retirement savers are seeking professional advice on portfolio allocations, particularly with regard to target-date funds, and that figure is expected to rise substantially in the next three years, according to a Vanguard survey. A separate survey claims that savers who use a TDF are less likely…
Only 24% of people have a written financial plan, although 34% of millennials do, a higher percentage than Generation X or baby boomers, a Charles Schwab survey found. Those with written financial plans are more likely to make choices such as putting more money into a 401(k) account and having…
A survey by the New York Life Center for Retirement Income shows respondents have a distinct lack of knowledge of retirement finance, with 74% failing the quiz. The respondents, Americans between age 60 and 75 with $100,000 worth of assets excluding property, achieved poor scores on quiz questions about 401(k)…
House Speaker Paul Ryan, R-Wis., has promised reform of the tax system would not threaten retirement savings. He says homeownership and charitable donations also would remain unaffected, but he intends to end the estate tax and the alternative minimum tax. Bloomberg
Semi-retired academic Larry Edward Penley discusses the US retirement crisis and the need for workers to save more and have access to a variety of retirement plan options that will help their money last over a lengthening lifetime, including annuities. "Those of us who worked in higher education had access…
Research from the Employee Benefit Research Institute finds that retirement accounts and home equity represent about half of all retirement assets other than Social Security benefits. The research also indicates that people who have retirement accounts have more assets and lower debt than those who don't. PlanAdviser online (5/17)
Clients might still need advisory services and can provide revenue after they've retired, says Graham Strategy CEO Gail Graham. However, advisers must redefine their message and act as more of a retirement coach if they want to stand out from big players in investment advice, Graham says. Financial Advisor online…
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