That’s the name of behavioral economist Meir Statman’s new book. We all yearn for upside potential and downside protection—and maybe a weekly Lotto ticket, he says.
Should US retirees delay claiming Social Security until age 70, even if they have to spend savings until then? The Center for Retirement Research at Boston College proposes that strategy as a default option in retirement plans.
Shopping for an annuity, like shopping for a car, involves questions about the manufacturer of the product. Do their products perform as expected? Will service quality be high? Are they likely to stay in business? We show you where to look for answers.
At the LIMRA annual conference in Boston earlier this week, MIT economist James Poterba described how low interest rates make saving for retirement more of a challenge.
The announcement comes a week ahead of Department of Labor hearings on in-plan income options, which themselves mark a new phase of competition for rollover dollars.
Some 80% of 3,200 people surveyed preferred a product with four percent return and a principal guarantee over a product with an 8% return subject to market risk. But they balk at the word, “annuity.”
Fitch expects the industry's large in-force variable annuity business to hurt profitability over the near term, however, and could damage industry earnings and capital in an unexpected, but still possible, severe stress scenario.
Broker-dealers and investment advisers should appropriately manage conflict of interest by providing individual investors with full disclosure that is simple and clear and allows them to make informed investment decisions, SIFMA said.
Jefferson National’s Monument Advisor VA contract offers more than 250 investment options, or five times the number offered by most VAs, the company said.
In ordinary times, The Hartford's letter-gate problem might vanish quickly. But investors are nervous, a big election is coming up, and the reputation of the financial services industry is fragile. A cap-gun could set off a panic.