African Americans in general have fewer assets, less faith in Wall Street and less appetite for risk than whites, but their need for financial guidance is arguably that much greater.
Private equity firms have steadily acquired U.S. life insurers and blocks of fixed annuity business and moved the blocks offshore to free up capital. This worries some people.
Micruity, a tech startup with a 30-year-old CEO, says it has the "middleware" that can integrate 401(k) plans and annuity issuers. Will the retirement industry listen?
Wells Fargo Asset Management's new target-date series of CITs comes with a built-in, optional retirement income strategy: systematic withdrawals plus an annuity starting at age 85.
"It’s not as if African Americans were a different species. They are over-represented among lower income populations, but that’s where their distinctiveness stops,” said Wilhelmina A. Leigh, Ph.D., of the Joint Center for Political and Economic Studies.
Antoine Orr, president of Plancorr Wealth Management LLC in Greenbelt, Maryland, tells his clients to pay down debt and invest only what they can afford to lose. "African American wealth is more abundant than people think," he says.
The global clearing-and-execution firm and BNY Mellon unit has set up a website, Retirement PowerPlay, to help advisors "grow their retirement businesses” and has published a call-to-arms entitled, "The Secret Knock."
Investors under age 45 are keeping more than 40% of their money in cash or cash equivalents, according to a new survey by Northstar Research Partners and Sullivan, a communications strategy and design firm.
You can save more than $10,000 a year by sharing a room with someone else, according to the 2011 Cost of Care survey by John Hancock Financial.
The AXIS Retirement Plan Analytic Platform is designed to service all retirement plan types through a single web-based interface and data repository, according to the manufacturer, Castle Rock Innovations.
The product offers point-to-point and monthly average interest crediting methods, and five account options: S&P 500 Point-to-Point, S&P 500 Monthly Average, S&P GSCI Point-to-Point, S&P GSCI Monthly Average and Fixed Account.