Baltimore radiologist Dimitri Merine hopes to retire in seven years, at age 63. So he created a do-it-yourself retirement income plan, using systematic withdrawals, dividends, a bond ladder and a deferred income annuity.
At the LIMRA-Society of Actuaries Retirement Industry Conference in Baltimore last week, Scott Stolz from Raymond James, Greg Jaeck from Edward Jones and Jarrod Fisher from Simplicity Financial Distributors delivered frank opinions about annuities and annuity issuers.
Many factors are driving the increase in indexed annuity sales: More manufacturers, better products, more distributors, competitive commissions, aging boomers, and relaxed regulation. But does the bubble contain the seeds of its own deflation?
Israel has found that even a mandatory defined contribution system can’t resolve all of the behavioral, economic, or administrative issues that prevent low-income and minority workers from saving for retirement. (Photo: Mahane Yehuda market in Jerusalem.)
A new report from the American Academy of Actuaries posits four basic principles that, if followed, it believes will lead to better pension plans and more secure retirements for participants. Relieving employers of plan sponsorship is one idea.
This week, BlackRock has created a combined United States Retirement Group (USRG) to coordinate and grow its sales into the DC and IRA markets. Chip Castille will be CEO and Bruce Wolfe, formerly of Allianz Global Investors, will be COO.
The three biggest types of providers of financial services to the wealthy are the so-called wirehouses, with $2.4 trillion, private client groups, with $1.4 trillion, and state-registered trust companies, with $446 billion, according to new research from Cerulli Associates.
Washington, D.C.-based HelloWallet, provides automated, Internet-mediated financial guidance. Founded and led by 38-year-old political scientist Matt Fellowes, it has financial backing from Morningstar, Inc., TD Fund, Grotech Ventures, and Revolution LLC.
For many, the achievement of an adequate income replacement rate in retirement may require having 30 years' access to a 401(k) plan and undiminished Social Security benefits, according to the Employee Benefit Research Institute.
“American dream” means different things to different people. About 80% of older Boomers consider it to mean home ownership and financial independence, while younger people “focus on developing a monthly budget,” according to MassMutual.