At the EDHEC Risk Institute in France, financial researchers are trying to figure out how advisors can leverage technology to "mass customize" the goal-based approach to retirement income planning. It won't be a walk in the park.
'We have all these insurance agents selling billions of dollars of fixed indexed annuities. But they have few clues about how the crediting rates have performed,'' says Kent Jacquay. With his Indexalyzer software, he proposes a solution.
Achaean Financial and Ash Brokerage, a large Fort Wayne, Ind., BGA, are partnering on a potential retirement game-changer: Achaean's immediate indexed income annuity, couched in Ash's JourneyGuide planning software. The underwriter has yet to be named.
Listen to an actuary who put $50k into a five-year indexed variable annuity four years ago as an alternative to CDs. We explain how IVAs are priced, and we tell you how his investment has fared so far.
The Society of Actuaries has published the results of focus groups and interviews with middle-class older retirees. Despite little planning, most people seem to muddle through 'reasonably well.'
Economist Teresa Ghilarducci of The New School wants a national, mandatory retirement savings plan to complement Social Security--and to replace the ERISA-regulated 401(k) system. I agree that the 401(k) system has issues, but I think we should fix Social Security first.