The thrust of last week’s ICI Retirement Summit was that there’s no broad retirement savings crisis needing government action. But that doesn’t mean Boomers won’t need help with decumulation.
On the verge of his 80th birthday, Sharpe, who won the 1990 Nobel Prize for his Capital Asset Pricing Model, has been writing a blog that documents his work on an open-source software tool that can help advisers and their clients test retirement income strategies.
Managed-volatility funds can adequately address the income volatility worries of many high net worth retirees, say Milliman and Jefferson National, both of whom are pitching such funds.
“Pensioners will have complete freedom to draw down as much or as little of their pension pot as they want, any time they want,” said the UK Chancellor of the Exchequer, George Osborne (pictured with his new budget), in his annual Budget speech to Parliament.
“Think of the robo-advisors as high-tech, low-touch, and the high-minimum fee-only planners as low-tech, high-touch. We’re high-tech, high-touch," said Alan Moore, a young planner who, with Michael Kitces, has started XYPlanningNetwork to help other young planners build practices to serve Gen X and Gen Y investors.
While in Japan on business in the late 1990s, Kelli Hueler saw an aging society and had an epiphany. She realized that American retirees would soon need sources of guaranteed income. So she started a SPIA sales platform called Income Solutions. Last winter, she added DIAs.
Sixty percent of the respondents to a Northwestern Mutual survey said their financial planning could use improvement; the most common obstacle to improvement was lack of time, cited by 27% of those surveyed.