In a scenario where retirement income and wealth account for 100% of an investors simulated retirement expenses, a model projects that around a quarter of baby boomers and Gen Xers who would have had sufficient retirement income under interest rates at historical averages would run out of money if the current low rates were taken as a permanent condition.
Making connections is as important as ever, though the process is changing considerably.
Wall Street banks collected $215.6 million that Denvers public schools paid to unwind swaps and sell bonds since the district began borrowing to cut pension costs in 2008. That sum is about two-thirds of annual teaching expenses.
Detroit may run out of cash next month and must cut costs such as long-term debt and retiree obligations, according to emergency financial manager Kevyn Orrs preliminary plan to improve services and keep Michigans largest city out of bankruptcy.
A real opportunity for advisers lies in the ambitions of Gen X and Gen Y Americans, who arent planning on postponing retirement yet.
Laurence D. Fink thinks U.S. employers should be required to put money aside for their employees retirement, similar to Australias superannuation system.
The Illinois House of Representatives approved a bill designed to repair the nations worst-funded pension system by raising contribution levels for state employees and delaying the retirement age.
According to this weeks 401(k) Performance Survey, approximately 5% of 401(k) plans, or 13,811 plans, stopped matching in 2010, and an additional 2% halted the employer match in 2011.
John Ludwig on how to help employees can increase their retirement savings including auto escalation and auto enrollment.
Transamericas Stig Nybo author of Transform Tomorrow: Awakening the Super Saver in Pursuit of Retirement Readiness on how building a proper retirement nest egg is a big social crisis.
Hartford Financial Services Group Inc. climbed in New York trading yesterday after profit beat estimates and the insurers margins widened.
The U.S. Government Accountability Office released a report in April saying that employees switching jobs often receive guidance by 401(k) companies to roll their accounts into an IRA, even when that might not be the best course of action.
If youre an advisor or a TPA like we are, youll be found.
Americans who work with a financial professional, had a college education and more than $100,000 in household assets are more likely to have a higher financial literacy.