Since the late 1980s, America’s average Body Mass Index, or BMI, has been climbing rapidly. As a result, we’re losing life expectancy relative to people in other rich countries.
“For as long as I’ve known him, David Booth has had a desire to find a way to improve retirement for everyone, not just people who have millions of dollars,” Michael Lane told RIJ this week. “That’s his vision, and that’s the whole reason we acquired SmartNest in the first place.”
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.
In her new book, 'The Deficit Myth,' Stephanie Kelton explains Modern Monetary Theory--and how we can afford a lot more as a nation than we think we can.
The deal, part of a trend in private-equity acquisitions of life/annuity properties that began a decade ago, makes KKR about one-third larger. The trend tailwind: low rates.
SmartNest, the software behind DFA’s new managed account program, was valued at $1.1 million when Trinsum Group, its previous owner, failed in 2009. Last summer, DFA insider Michael Lane, 45, (above) replaced David Deming as the venture’s CEO.
Let me channel, for a few paragraphs, the ideas of Warren Mosler, Stephanie Kelton and other proponents of Modern Monetary Theory—which is not a theory so much as a clearer understanding of the way our financial system actually functions.
Despite an overall increase in the banks' annuity revenues in the first half of 2012, twice as many bank holding companies saw lower annuity commissions and fees this year than in the first half of 2011. The director of the American Bankers Insurance Association called that “troubling.”
The percent of investors who cite a financial professional as their primary provider of investment advice fell to 21% in 2012 from 25% in 2011, according to the Boston area research firm. Usage dropped sharply among households with $100,000 to $500,000 and over $2 million in investable assets.
The 21.5 million "high-earning not rich yet" households control 31% of total financial assets in the United States—about $8.3 trillion—and have a combined annual income of $3.1 trillion, says Strategic Business Initiatives. (Left: O. Henry)
"Investors are not irrational; they are undecided about which path will be chosen by future investors." -- Roger E. A. Farmer, PhD, from "How The Economy Works" (Oxford, 2010), p. 92.