AARP's 38 million members can now buy income annuities and fixed-rate annuities on a platform powered by fintech firm Blueprint Income. Buyers get a complimentary annual 'retirement income check-up' from a salaried, insurance-licensed adviser.
The Treasury said this week that it will borrow (and spend) about $3 trillion this quarter, to cover its stimulus promises. Where does that money come from and where does it go? 'The capital is going from one pocket to another,' explains Vanguard's active Treasury fund manager, who expects the stimulus to be withdrawn in 2022.
During a market crisis, a reverse mortgage home equity line of credit (ReLOC) can be a lifeline of ready cash for homeowners ages 62 and older. Don Graves of HECM Advisors Group explains.
“The so-called backtests weren’t really backtests, and the strategy wasn’t proven as they claimed,” said the director of the SEC’s Los Angeles office.
Vote for Obama and you’ll get more ‘government in your knickers,’ keynote speaker Haley Barbour told 300 or so IRI meeting attendees in San Diego this week.
New York Life’s Lifetime Income Annuity was the best-selling product for the second consecutive quarter.
Federal outlays through August totaled $3.4 trillion, up 2% from the same period last year. Receipts in the first 11 months totaled $2.2 trillion, up $126 billion from the same period last year. (Federal fiscal year ends Sept. 30, 2012.)
After the completion of this offering and a $5 billion share purchase by AIG, Treasury will own about 15.9% percent of AIG’s common stock outstanding.
The 'A' Insurer Financial Strength (IFS) ratings on AIG's core property/casualty and life insurance subsidiaries was affirmed.
Brief or late-breaking items from New York Life, Phoenix Companies, Strategic Insight, BlackRock, DST Systems Inc., AXA Equitable Life, and Principal Financial.
The Fed also acknowledged its limits. “Monetary policy, particularly in the current circumstances, cannot cure all economic ills,” the Fed chairman, Ben S. Bernanke, said at a news conference.