You knew it all along, but now there's evidence. Most Americans are financially illiterate. Experts wonder how the millions who don't understand compound interest can possibly fashion successful retirements.
Most of the annuities now on the Charles Schwab and TD Ameritrade platforms are offered by mutual or foreign-owned life insurers. Lincoln Financial is the sole exception.
In MassMutual's new all-digital deferred income annuity, an adult child is the owner, and receives income when a parent (the annuitant) reaches age 91.
Should US retirees delay claiming Social Security until age 70, even if they have to spend savings until then? The Center for Retirement Research at Boston College proposes that strategy as a default option in retirement plans.
Economist Annamaria Lusardi started studying financial literacy in 2000. She soon realized that it's not a luxury for the few. It's an empowerment tool for the many.
Here are 18 true-or-false questions that economists asked Americans over age 55. The average score among the college-educated was 68%. Perhaps you'll fare better.
In the third quarter, the largest U.S. mutual life insurer led all issuers in sales of fixed immediate annuities and sales of fixed annuities in the bank channel.
But the consulting firm says that neither advisors, asset managers or investors are enthusiastic about the one-year opportunity for Roth IRA conversions.
Jeff Frazee goes to Aviva USA, Lynne Ford to ING.
Under proposed law, registered reps would have no “continuing duty of care or loyalty to the customer” after providing advice.
Annuity firms introduced enhanced online security measures in 2009, but they remain laggards in the financial service industry.
Thirty years ago, Arnold Relman coined the term, "medical-industrial complex." He calls the Senate health care bill "half a loaf," but hopes it passes.