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For many financial advisors, a core part of the retirementplanning process involves simulating whether the client's assets will last through retirement. Yet while these tools offer mathematical metrics, they often fall short in helping clients connect the numbers to their real lives.
One of the best tax deductions for a small business owner is funding a retirementplan. Beyond any tax deduction you are saving for your own retirement. You deserve a comfortable retirement. If you don’t plan for your own retirement who will? You need to start a retirementplan today.
Also in industry news this week: While many financial advisors are paying close attention to the potential extension of sunsetting measures within the Tax Cuts and Jobs Act (TCJA) in the coming year, legislation related to retirement savings could be on Congress' agenda as well Fidelity is planning to change the default for its existing RIA non-retirement (..)
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wealthmanagement.com) The number of cash balance plans are on the rise. flowfp.com) Stop using this phrase in retirementplanning. thinkadvisor.com) Why clients may feel like they can't have enough assets in retirement. (bloomberg.com) Advisers Finluencers have very different incentives than advisers.
Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that CFP Board CEO Kevin Keller this week announced his plans to retire and step down from his position at the end of April next year.
And as 2024 draws to a close, we wanted to highlight 24 of the most popular and insightful articles that were featured throughout the year (that you might have missed!).
Also in industry news this week: While RIA M&A deal flow hit record levels in 2024 (both in terms of volume and the speed of completing them), firm valuations saw relatively modest gains In its latest annual regulatory oversight report, FINRA joined the SEC in flagging the potential risks to firm and client data from the use of third-party vendors (..)
Retirementplanning is a journey that generally takes decades to complete and most of us start out along the do-it-yourself path. More than likely, your first step was to enroll in an employer-provided plan such as a 401(k) or setting up an individual retirement account, also known as an IRA.
Christine Benz is Morningstar’s director of personal finance and retirementplanning, but she’s written a book that evokes Viktor Frankl as much as Bill Sharpe, aiming to go well beyond the mathematics of saving for, and living in, retirement.
Financial advisors have a wide range of strategies at their disposal to create financial plans for their clients. And when it comes to retirementplanning, one popular technique is the use of ‘guardrails’, which set an initial monthly withdrawal rate that can be later adjusted as the size of the client’s portfolio changes.
Realistic RetirementPlanning My children have consistently (and kindly) remarked about how grateful they are to have been able to graduate (with honors) from fine universities without any debt. Our retirementplanning took a hit to do so. Thanks for reading. They each have good and fulfilling careers.
(morningstar.com) Dan Haylett talks with Eric Brotman, who is the founder and CEO of BFG Financial Advisors, about retirement as 'graduation.' humansvsretirement.com) Estate planning Why you should update your estate plans periodically. obliviousinvestor.com) Estate planning should most importantly include talking about it.
The Setting Every Community Up for Retirement Enhancement (SECURE) Act, passed in December 2019, brought a wide range of changes to the retirementplanning landscape, from the death of the ‘stretch’ IRA to raising the age for Required Minimum Distributions (RMDs) to 72. In addition, SECURE 2.0
The Setting Every Community Up for Retirement Enhancement (SECURE) Act, passed in December 2019, brought a wide range of changes to the retirementplanning landscape, from the death of the ‘stretch’ IRA to raising the age for Required Minimum Distributions (RMDs) to 72. In addition, SECURE 2.0
youtube.com) Retirement Why planning in retirement is so challenging. Rowe Price about non-financial considerations in retirement. morningstar.com) People work in retirement for any number of reasons. humansvsretirement.com) 3% rates make holding a mortgage in retirement easier.
Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that Congress appears poised to pass a series of changes affecting retirementplanning, dubbed “SECURE ACT 2.0”, ”, by the end of the year. Social Security COLA for 2023.
morningstar.com) How sensitive are retirementplanning models to capital market assumptions? advisorperspectives.com) The number of people taking the CFP exam is at a record high. (riabiz.com) What Vanguard and Robinhood ($HOOD) have in common. Then check out our weekly e-mail newsletter.
Podcasts Christine Benz and Jeff Ptak talk with Mark Miller, author of "Retirement Reboot: Commonsense Financial Strategies for Getting Back on Track." (the-long-view.simplecast.com) the-long-view.simplecast.com) A discussion about when it is time to adjust your retirementplans.
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the Department of Labor this week released its long-awaited "retirement security rule", its latest effort to curb conflicts of interest around retirement savings recommendations.
Enjoy the current installment of "Weekend Reading For Financial Planners"– this week's edition kicks off with the news that a recent analysis from Morningstar suggests that the Department of Labor's (DoL's) new Retirement Security Rule (aka Fiduciary Rule 2.0)
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How much do I need for retirement?” Your financial needs in retirement can depend on dozens of factors – some known and some unknown. One or two million dollars may seem like a lot of money to have set aside for retirement. A Retirement Reality Check. The concept of retirement continues to evolve with the world around us.
The study also identified attributes of "top performing" firms across a range of metrics, finding that they are more likely than other firms to have a clear ideal client persona, client value proposition, and marketing plan.
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the Department of Labor released the final version of its Retirement Security Rule (a.k.a.
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From there, we have several articles on retirementplanning: A survey indicates that while pre-retirees largely understand the benefits of delaying Social Security benefits, only 11% plan to wait until age 70 to claim them, suggesting that advisors can play an important role in influencing clients’ retirement income decision making.
Annuities are often touted as the “cure” for all that ails your retirement. Outside of the most notable failure, Executive Life in the early 1990s, there have not been a high number of insurance company failures. An annuity can offer diversification in your retirement income stream. NEW SERVICE – Financial Coaching.
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Also in industry news this week: How enforcement of FINRA Rule 4111 could further the decline in the number of broker-dealers and registered representatives. The variety of ways individuals approach retirement, from choosing where to live to finding purpose in their daily lives.
Nevertheless, there is potential for many individual RIAs to expand their staffing further, with the addition of specialized planning and operations roles being seen as a potential avenue to boost firm growth.
Over time, advisors shifted toward more analytical approaches, such as investment management and retirementplanning. Today, the industry has evolved further, with a growing emphasis on aligning financial decisions with clients' personal priorities and life goals.
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In spite of what was said on PBS Frontline The Retirement Gamble and elsewhere in the press, in my opinion 401(k) plans are one of the best retirement savings vehicles available. Here are 4 steps to make sure that your 401(k) plan is working hard for your retirement. Plan for your retirement .
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that CFP Board announced that it has crossed the milestone of 100,000 CFP professionals in the United States, and despite having just celebrated its 50th anniversary last year, just set a record high in the number of advisors sitting (..)
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