You can get a lump sum if you delay benefits, but there are caveats.
A new analysis finds that nearly every state falls short in key areas that measure retirement readiness. The Financial Security Scorecard: A State-by-State Analysis of Economic Pre
Franklin Templeton Investments today introduced Income For What's Next, a comprehensive program geared to address the complexities and changing reality of retirement today and provide tools advisors can ...
According to Nielsen, 78 percent of Singaporean respondents say they plan to rely on their personal savings and investments as primary source of income after retirement. Respondents from Singapore stood most confident about utilizing personal savings and investments as their primary source of income when retired as compared to the other countries in Southeast Asia. The Nielsen Global Survey about Aging, which polled more than 30,000 Internet respondents in 60 countriesi, also revealed that 29 percent of Singaporean respondents plan to retire before they reach the age of 60 years. For almost half of Singaporeans (45%) their ideal retirement age is younger than their planned/actual retirement age.
Prudential Annuities, the domestic annuity business of Prudential Financial, Inc. , today announced the launch of IncomeCertainty.com, a key element of its strategy to h
Financial professionals who want their practices to flourish should deepen their retirement plan knowledge and focus. The greater the financial professional’s retirement plan know-how, the better the plan’s results — and the higher the client ratings.
EAXT GRANBY, Conn. -- via PRWEB - A comprehensive study found that 401(k) and 403(b) retirement plan sponsors who partner with a Professional Retirement Plan Advisor enjoy superior participant outcomes....
The Phoenix Companies, Inc. today announced the launch of Phoenix Personal Retirement Choice℠, a single premium fixed indexed annuity with an optional Guaranteed Lifetime Income Benefit rider.
Lincoln Financial Distributors , the wholesale distribution business of Lincoln Financial Group , today announced the addition of three regional sales directors to i
Prudential Retirement is now offering defined contribution plans its guaranteed income solution with Russell Investments’ line-up of institutional target-date portfolios. Prudential IncomeFlex Target® Russell LifePoints® Institutional Target Date Funds are available immediately.
TAMPA, Fla. -- via PRWEB - Aspire Financial Services, LLC, a leading provider of smart retirement solutions, today announced that it has partnered with the Worksite Financial Solutions Platform of LPL ...
As more Middle Americans look for ways to save for and transition into a successful retirement, one Midwest financial company is turning its focus to help this often neglected mark
Stadion Money Management , a money management firm known for its tactical investment solutions, all of which share Stadion’s defensive growth philosophy, toda
NEW YORK, Feb. 10, 2014 /PRNewswire/ -- J.P. Morgan Retirement Plan Services has developed a unique data visualization tool that gives sponsors and advisors a vastly improved view into the saving and investing behaviors of 401(k) plan participants. This "Plan Diagnostics Tool" visually presents the interaction of multiple plan design factors on employee outcomes. Companies can quickly recognize patterns in retirement plan usage and make meaningful plan design and targeted communications decisions to help motivate employees to adopt stronger investing habits. While other industries already use sophisticated tools to parse and analyze big data, J.P. Morgan is the first retirement plan service provider to offer an interactive tool that enables companies to diagnose their employees' investing behaviors across metrics such as age, salary, geography, years of service, business line, employee role and investment allocation.
During his State of the Union address, President Obama unveiled his new plan to increase retirement savings. The plan is dubbed “MyRA” and is geared for people without a company sponsored retirement plan. ...
Ameriprise Financial will launch its latest national ad campaign, “Real Questions, Real Answers”, on February 8th during the Sochi Olympics. The new ads, featuring Acad
The Newport Group, a national provider of retirement and executive benefit plans, has been recognized for its programs to help employees make better financial decisions.
The thinking on how to answer this critical question is changing.
The moment of retirement brings a sudden shift from earning a paycheck and planning for retirement to a new reality and the need for a different income stream. With thousands of ba
The U.S. retirement plan market may represent a historic growth opportunity for registered investment advisors , yet even experienced firms can be deterred by the time need
BlackRock, Inc. , the world’s largest manager of retirement-related investment assets, applauds the focus of President Obama’s State of the Union Address on improving financial preparedness for all Americans.
Boston, MA -- DALBAR, Inc. announced today that New York Life Retirement Plan Services (New York Life) was awarded the DALBAR Mobile Seal of Excellence for its MYLIFENOW app. Recipients of this award demonstrate ...
WINDSOR, Conn., Jan. 28, 2014 /PRNewswire/ -- ING U.S., Inc. (VOYA), which will rebrand as Voya Financial, Inc., in 2014, announced today that its Retirement Solutions business has been chosen as the exclusive service provider for the Regional University System of Oklahoma (RUSO) Retirement Savings Program. "ING U.S.'s approach to relationship management and expertise in supporting higher education plans was important in our decision," said Jessica A. Boles, vice president for Administration and Finance at East Central University. "We were impressed with the team's depth and breadth of experience and the full suite of investment, technology and education solutions to help our employees take greater control of their retirement planning and saving." As part of its commitment to advancing the retirement readiness of working Americans, ING U.S. will provide RUSO employees with access to industry-leading decision tools, as well as custom communication and financial education programs designed to drive positive savings behaviors.
Most registered investment advisors agree the U.S. retirement plan market represents a tremendous growth opportunity yet relatively few RIAs pursue this business in a significant way.
HARRISON, N.Y., Jan. 21, 2014 /PRNewswire/ -- Transamerica Retirement Solutions has been selected by North Shore-LIJ Health System as the new administrative provider for its employee retirement plans. North Shore-LIJ is the largest private employer in New York State. As one of the nation's largest health care systems, North Shore-LIJ delivers world-class clinical care throughout the New York metropolitan area with its 16 hospitals, 400 outpatient practices, and pioneering the future of medicine through its world-renowned Medical Research Institute and new medical school, the Hofstra North Shore-LIJ School of Medicine. "Transamerica's excellent track record and relationship with some of our hospitals was a deciding factor when selecting a single new retirement plan provider," said Gregg Nevola, vice president for total rewards at North Shore-LIJ.
According to a study released today by BMO Harris Private Banking, high-net worth Canadians reported that they require, on average, $2.3 million to be able to live out their ideal retirement lifestyle. ...
New quick enrollment from the Principal Financial Group® enables individuals to sign up to save for retirement in minutes with a text message. Traditionally employees have signed u
SPRINGFIELD, Mass., Jan. 8, 2014 /PRNewswire/ -- MassMutual's Retirement Services Division's dedication to and experience in serving the retirement needs of the Taft-Hartley market for more than 40 years ...
OKLAHOMA CITY, Jan. 8, 2014 /PRNewswire/ -- Retirement LLC – Series Two, based in Oklahoma City, OK, today announced that it has signed a definitive agreement to merge third party administrator (TPA) Capella Inc. of Sioux Falls, SD into Retirement LLC - Series Two. Capella is the largest retirement plan consulting organization in South Dakota advising and assisting companies with their qualified retirement planning. Capella was established in 1999 as a regional provider of tax qualified defined contribution plan services. Today the firm partners with financial professionals, bank trust departments, CPAs and attorneys, and has grown from a regional service provider to national provider with clients across the United States.
RALEIGH, N.C., Jan. 7, 2014 /PRNewswire/ -- In an effort to help families more easily navigate the search process for continuing care retirement communities LifeSite Logics has launched an online database providing information on more than 860 communities across twenty-three states. The LifeSite Logics vision began in 2011, when Brad Breeding, a Certified Financial Planner, began receiving questions about CCRCs.
KANSAS CITY, Mo., Dec. 23, 2013 /PRNewswire/ -- DST, a leading provider of servicing solutions to financial services, asset management, brokerage, retirement, and healthcare markets around the world, today ...
"There are dozens of energy-related improvements to your home that are going to expire," says tax expert Barbara Weltman, author of "J.K. Lasser's 1001 Deductions and Tax Breaks." Conventional improvements like adding insulation, storm windows and more energy-efficient boilers fall into this category. Weltman says that while it's possible Congress will opt to extend these tax credits, it might not, which means they expire on Dec. 31. Meanwhile, tax credits for alternative-energy equipment in homes, including solar panels and wind turbines, have been extended through 2016, so there's no need to put a new year's rush on those plans. Lowering your taxable income can also yield other benefits, she notes, including what you pay for Medicare Part B (largely doctors visits) and D (prescription drugs), for example.
Our home has had a reverse mortgage since 2008 when my husband turned 62 years old. The mortgage lender says that it is not possible because they do not initiate reverse mortgages anymore and that we should refinance with another company. Your situation highlights a common problem with reverse mortgages, particularly for retired couples. At the time your husband got his reverse mortgage, the youngest person on the mortgage had to be at least 62.
Plus, many plans allow you to change beneficiaries, so the funds could be passed on from generation to generation until enough educational expenses are incurred that there are no tax consequences. These are even better than 401(k)s from a tax standpoint, because money stashed in a HSA is tax deductible on your tax return and qualifying withdrawals for health expenses aren't taxed at all.
Nearly 230 million children under the age of five around the world have never had their birth registered, which often means they will be barred from education, health care and social security, the U.N. ...
It's well established that if you start saving about 10 percent of your income for retirement starting at age 25, you're going to be in excellent shape for retirement when you hit age 65. This fact should be emblazoned on every single college and trade school diploma issued in the United States today: start saving for retirement now, not later. All the time, I hear from readers in their late 30s or early 40s (or even later) who are just now realizing that they need to start saving for retirement or they're going to work forever. If you're reading this article and you're a professional adult without any retirement plan in place, you need to start a retirement plan.
Retirement planning and saving can be intimidating. From selecting an asset allocation to rebalancing and fund selection, saving for our golden years is not for the faint of heart. These five tools address various pain points when it comes to retirement planning. The free tool from Personal Capital is the easiest and most thorough way to track an investment portfolio.
The general manager of the world's busiest airport in Atlanta has announced plans to retire early next year. A spokesman for Mayor Kasim Reed said Monday that Louis Miller is planning to retire on Jan. ...
Perhaps your retirement dream is sand-fringed. There are many appealing beach retirement spots overseas, from the azure Caribbean to the crashing Pacific and the breathtaking Andaman Sea. Here are the five best beach cities for retirement: Coronado, a fast-growing beachfront community about an hour outside Panama City, Panama, offers a high-quality beach lifestyle with all the amenities and services a retiree could want.
It's important to dial down the risk in your investment portfolio as you approach retirement, but you also need to ensure your portfolio will keep up with inflation over what could be several decades of retirement. "As you approach retirement, it makes sense to scale back some of the risk in the portfolio," says Susan Strasbaugh, a certified financial planner and principal of Strasbaugh Financial Advisory in Colorado Springs, Colo. "When you are talking about a 30-year retirement period, you don't need everything really conservatively invested because you still need growth to stay ahead of inflation." Strasbaugh recommends investing a portion of your assets in cash or short-term bonds, while investing some of your longer-term money more aggressively. Stress-test your retirement finances. Take a look at the worst-case scenario for your investments, and consider whether you will be able to pay for all of your retirement necessities if that happens.
What the numbers suggest.
Some big-name investment firms believe the 4% rule for annual withdrawals is still valid but most advocate greater flexibility as stock markets gyrate.
Converting those companies into retirement income is a completely different process. "You want to know that the successor is capable of running the business, because your income is dependent on that person's abilities,"says David Scott, vice president advanced sales at Penn Mutual Life Insurance Co.,which specializes in retirement planning and related insurance topics. A common plan, Scott says, is for the successor to start buying out the founder's share upon the founder's retirement, paying the founder his or her current salary for a set period of time. Mary Ellen Baldwin, a certified financial planner based in Melbourne, Fla., notes that there are several catch-up options available to those over age 50 who are trying to sock away as much as possible for looming retirement.
I had a 401(k) and now must decide whether to cash it out or put it in an individual retirement account. Also, the state of Massachusetts is of no help because it actually counts the 401(k) as income! What type of tax penalty would I face for withdrawal? any distributions from 401(k) plans are included in your taxable income. In addition, any distributions made before you reach the age of 59 1/2 are subject to a 10 percent additional tax penalty unless you meet one of the various exceptions that are allowed by the Internal Revenue Service.
Since I can reasonably expect my husband to live until his mid-80s, I'm thinking of pulling my Social Security at 62. I have not paid into Social Security for 25 years and at 62 could only draw $625 a month. He currently gets about $1,100 a month in Social Security plus a teacher's pension that goes away when he dies. My current plan is to start receiving my Social Security benefits at age 62 and continue consulting part-time so we can travel, and both volunteer as chaplains while he is still physically able.
Baby boomers are suckers for appeals to their narcissism. Generation Xers can't stand their parents. And millennials want to feel like do-gooders. These aren't tired stereotypes. They're lessons marketing ...
Barrick chairman Peter Munk is retiring from the company he built into the world's largest gold producer. Barrick announced Wednesday a major shakeup of its board of directors. Shareholders have been demanding ...
I could say my success was due to my high intelligence, but the truth is that it's more the result of writing about personal finance and spending much of every day reading and learning about the subject. What's the worst case outcome?
Retirement planning is filled with conflicting advice. Given changing interest rates and the multiyear run-up in stock prices, here are a few retirement strategies to avoid right now. My father-in-law called me in a panic last month and inquired why the balance on his bond fund was falling. I explained that as market interest rates rise, all bond fund values decline.
We all know that retirement today is not the same as it was for our parents. Pensions are nothing but a dim memory for many of us, and we all worry about Social Security and the cost of health care. Instead, many workers are leaving full-time work in their 50s, and taking lower-paying "bridge" jobs they may hold for several years before finally entering full retirement. 3. Workers have less control over the timing of their retirement.
I withdrew $38,000 from my Roth IRA last year due to unemployment to pay living expenses, medical premiums and bills. Is there a way to avoid paying an early withdrawal penalty? Unlike traditional IRAs, distributions from Roth IRAs prior to age 59 1/2 may escape the 10 percent penalty for early withdrawals. If you're over age 59 1/2 there is no 10 percent penalty for traditional or most Roth IRA distributions (that have been in the account for five years).
Now, many members of the younger generation question whether it is a good idea to buy real estate. To be clear, this is a question about purchasing real estate as a residence, not as an investment. When considering whether to buy, there are three major issues to consider: liquidity, return on investment and the personal use value. Buying or selling real estate is timely and costly.
This is La Antigua, Guatemala. The Volcán de Agua (Volcano of Water) dominates the south side of the valley where Antigua is situated. The Volcán de Fuego provides impressive light and sound shows, but is too far away to be a risk to Antigua. Antigua is a traditional city, steeped in history and religious traditions that are preserved today in the processiones (religious parades) that pass through the city streets regularly, especially at Christmas and Easter.
Certain types of retirement contributions must be made by the end of the calendar year to get a tax break, while you can wait to take advantage of others until you file your 2013 tax return. Pay attention to these important tax deadlines when making retirement account contributions and withdrawals. "Look to see if you have maximized your contribution, and if you haven't, you have this last opportunity to do so," says Dirk Huybrechts, a certified financial planner for HFM Advisors in Los Angeles. "If you weren't able to make the full $17,500 contribution, you want to make sure that you contributed at least enough to get the employer match." Contributions to workplace retirement accounts often need to be made by Dec. 31 to qualify for a tax deduction on your 2013 return and to get any 401(k) match your employer is offering for 2013.
Lloyds Banking Group PLC has named Norman Blackwell to the role of chairman, succeeding Winfried Bischoff when he retires next year. The bank said in a statement Monday that Blackwell, who has been a non-executive ...
It can be exciting to contemplate a move from your existing home to someplace more suitable for your retirement years. Whether you are hoping to downsize now that the kids are gone or find a perfect location once you are no longer dependent on proximity to your job, the decision to uproot your life for a fresh start should not be taken lightly.
Research by TD Ameritrade says the self-employed are four times less likely than traditional workers to save regularly
I input a scenario, assuming a husband and wife who are 65, into an immediate annuities calculator, and it resulted in a monthly income of $513 per month for a joint life annuity with no payments to a beneficiary. Your annuity quote would vary from that number based on your joint life expectancy and the interest rate the insurance company used in developing the quote, which you state is 5.6 percent -- an attractive rate in today's low-interest environment.
But how would they find out when bills only come through e-mail and they never check credit card statements? Gym memberships, credit monitoring services and annual credit card fees may have made sense when you signed up long ago, but the recurring charges will continue to eat into your cash flow unless you stay on top of your spending and stop expenses you no longer need. You'll be less sensitive to price increases.