A Fortune in Reversals

New federal reverse mortgage rules make it cheaper for seniors to tap their home equity for a line of credit.

Research Roundup

We summarize four recent papers: 'Portfolios for Long-Term Investors,' 'What is the Value of Annuities?,' 'Public Economics and Inequality: Uncovering Our Social Nature,' and 'Financial and Total Wealth Inequality with Low Interest Rates.'

An Annuity’s ‘Moneyness’? There’s an App for That

How will variable annuity contract owners use their income benefits? That question is vital to annuity issuers and to fiduciary advisers with clients who own VAs. This Texas Dep't of Insurance actuary knows a product that can help them find out.

A Chip Off the Old Rock?

Bloomberg reported this week that Prudential is considering selling its retirement plan recordkeeping business. Prudential didn't confirm the report, but several industry insiders did. Low interest rates, high costs of IT makeovers, and sticky stable value fund guarantees are driving the move, RIJ was told.
Featured

Craig Israelsen’s Seven Percent Solution

Think your clients need $1.25 million to retire comfortably? In a new book, advisor Craig Israelsen argues that they can live even better on less than $750,000.

Madoff’s Unsolved Mysteries

On September 26, Los Angeles moneyman Stanley Chais may have taken the secret of the Ponzi artist’s missing billions to his grave.
News

Quote of the Week

"The federal government is like 10,000 bugs on a log floating down a river, and every bug thinks he's steering the log."--Herman Kahn, as quoted by Marsh Carter, chairman of the New York Stock Exchange, at the RIIA annual meeting this week.

Pacific Life Launches Its First SPIA

Pacific Income Provider offers 10 payment options, including Life with Cash Refund, inflation adjustments, and the one-time ability to increase or decrease income payments.

The Bucket

Late-breaking items about the Financial Planning Association, InFRE, Principal Financial, Mutual of Omaha, AllianceBernstein and more...