Using signs and symbols to represent retirement concepts can help clients better grasp the planning process, writes Adam Cufr of Fourth Dimension Financial Group. “Jot down a list of the financial concepts your clients would benefit from understanding. Then, consider how you can teach that concept in a way that…
One possibility to maximize tax savings after inheriting retirement funds is rolling them into an inherited Roth IRA, although the tactic involves complicated rules, Robert Bloink and William Byrnes write. ThinkAdvisor (10/28)
Voluntary benefits such as critical illness, hospital indemnity, short- and long-term disability, and personal accident insurance can be important financial protection devices and hedge against high expenses, particularly for employees enrolled in consumer-directed health plans, says Karen Frost, a senior vice president at Aon Hewitt. Some employers also offer auto,…
Life insurance policies with accelerated benefit riders can help pay for long-term care by advancing the policy’s death benefit, writes Steve Schoonveld of Lincoln Financial Group. The two choices are riders that fund long-term care specifically and those that pay for care needed because of permanent chronic illnesses, he writes….
The budget bill that passed the Senate on Friday would end two Social Security claiming strategies: file-and-suspend and a restricted application for spousal benefits. However, the rules don’t take effect immediately, and people who are already using these strategies can continue to do so. The Wall Street Journal (tiered subscription…
Pairing a qualified longevity annuity contract with strategic withdrawals from traditional assets early in retirement can ensure income throughout retirement, write Robert Bloink and William Byrnes. Such a strategy can streamline retirement planning, which appeals to middle-market clients, Bloink and Byrnes write. ThinkAdvisor (10/20)
More baby boomers are in mental decline, and the economic and retirement consequences are profound, writes Justin Fox. The number of people with dementia or some kind of cognitive impairment “will really explode when the baby boomers start hitting 80 a decade from now,” he notes. Bloomberg (10/29)
Research from the Employee Benefit Research Institute found that the amount of savings necessary to cover health care costs in retirement is on the rise after several years of decline. The biggest reason is the projected cost of prescription drugs. PlanAdviser.com (10/29)
Barry Ritholtz argues that when it comes to retirement accounts, inequality seems to be on the rise. On one extreme are the many Americans who lack access to workplace retirement accounts; on the other end are corporate CEOs who have amassed millions in their retirement accounts. Bloomberg (10/29)
Some experts have bemoaned the House bill that ends the file-and-suspend Social Security claiming strategy. But Jamie Hopkins of the American College’s New York Life Center for Retirement Income sees two silver linings: The strategy itself was complex, and the move represents the first major upgrade to the Social Security…
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