Women's longer average life spans and lower life-time earnings necessitate a unique investment advice strategy, a panel at the Morningstar Investment Conference in Chicago concluded. Advisors can better serve their female clients through financial education, including both spouses in retirement planning, exploring options beyond riskier investments and starting with Social…
Advisers at T. Rowe Price recommend 15% of earnings as a good benchmark for building a nest egg. A worker who puts away 15% starting at age 30 has potential to reach $1.7 million by 65. TheStreet.com (6/16)
The average life span is about 30 years longer now than it was 100 years ago, which is changing the way people plan for and fund retirement. More than 90% of the respondents in an Allianz Life Insurance survey agreed that living an extra three decades requires deviating from traditional…
Two professors at Wellesley College took a look at the impact of stock market shocks on retirement decisions. They found that the number of people hit by market-driven wealth shocks is relatively small. Thus the effect on retirement decisions is small as well. PlanAdviser.com (2/19)
Too many senior citizens are avoiding retirement planning, according to research from the University of Southern California and the Society of Actuaries. Almost 60% of people ages 60-69 said they had not retired or done any retirement planning in the previous three years. CBS News (2/19)
Personal biases that emerge in times of market volatility have a powerful effect on retirement investing, writes Mike Patton. "Fear and greed, two of the strongest emotions, help explain why investors buy high and sell low, rather than the reverse," he writes. ThinkAdvisor (2/16)
Assets for the largest 1,000 retirement plans in the US were down 2.3% year-on-year at the end of September. Assets for defined-benefit plans decreased 3.3%. Corporations, which have moved toward safer, fixed-income allocations, saw a bigger drop in their plans than public plans. InvestmentNews (2/8)
Many clients have discovered that no-refund deferred income annuities can more than double the payouts they will receive in retirement, write William Byrnes and Robert Bloink. Such annuities "can provide a powerful safety net," they add. ThinkAdvisor (2/1)
Retirement savers have no control over market volatility, but "they can control planning decisions concerning taxes, withdrawal sequences and even strategies for claiming Social Security," writes Kate Stalter. U.S. News & World Report (2/1)
The Department of Labor's proposal to encourage state retirement plans would benefit by offering states less leeway in setting up their programs, writes Robert Pozen. It "should include conditions requiring states to hire qualified financial professionals to invest worker contributions," he adds. RealClearMarkets (1/26
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