2015 4th Qtr issue – InFRE’s free newsletter
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The quarterly newsletter from the International Foundation for Retirement Education’s to help retirement professionals keep abreast of what’s happening in the field of retirement readiness, counseling, planning and income management.
In this retirement-specific newsletter, planners will learn:
- “The Silver Tsunami and Long-Term Care” by Nyal Bischoff. What are the known and unknown costs of long-term care? How are health changes equal opportunity offenders? What are the common healthcare risks related to aging? What are the options for addressing long-term care risks?
- “Pensionizing Your (Clients’) Nest Eggs: What, How and Why?” by Alexandra Macqueen, CFP(®. Why do we need to consider “pensionizing” a portion of our savings? What are these new retirement risks? How does “pensionizing” provide protection from retirement risks? Case studies for pensionizing a nest egg, and the implied longevity yield.
- “Finding the Gold in Gray: Keys to Serving Boomers and Older Clients” by Michael Sullivan. What are defining generational characteristics? What happens to our five senses with age? What are the changes in emotional language and information processing as we age? How to deal with people of age.
- “State Savings Programs for Non-Government Employees” by the Employee Benefits Security Administration (EBSA). Advisors interested in serving the middle market need to be aware of new guidance published by the Department of Labor to support the efforts of a growing number of states trying to promote broader access to workplace retirement saving opportunities for America’s middle class workers.
The articles below comprise the 2015 4th Qtr Issue of Retirement Insight and Trends. Click on the links below to read each article online separately, or click here to view and print the issue in its entirety.
Welcome to InFRE’s December, 2015 Issue of Retirement Insight and Trends
on DECEMBER 31, 2015
Retirement InSight and Trends is the quarterly newsletter for the International Foundation for Retirement Education’s Certified Retirement Counselors® (CRC®s) to help retirement professionals with the practical application of new retirement readiness, counseling, planning and income management concepts for the mid-market. Find out more about the CRC® and […] Continue Reading →
December, 2015 InFRE Update: In Respectful and Appreciative Memory of John David Davenport
on DECEMBER 31, 2015
J. David Davenport, the co-founder and Chairman of the Board of the International Foundation for Retirement Education (InFRE) died on December 2, 2015 at the Oklahoma City Heart Hospital. He was passionate about helping American workers improve their retirement readiness.
Davenport’s name in the retirement savings industry is synonymous with Thomas Edison in the world of invention. While Edison is credited with the creation of the light bulb, phonograph, and film projector, so also Davenport wrote the first legislation to secure retirement benefits for city, county and state employees, created new and innovative investment savings products used today by virtually all large investment management firms, and launched one of the first financial savings programs distributed through banks. […]
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The Silver Tsunami and Long-Term Care
on DECEMBER 31, 2015
By Nyal Bischoff, Independent Long Term Care Specialist
1. Two-thirds of individual long-term care claims start with folks at age 80 or older.
2. 70 percent of the people that are over 65 are going to need some form of care before they leave this world.
3. A little bit more than half of Baby Boomers believe that Medicare would cover their long-term care.
4. 47 percent of the adults in their 40s and 50s have a parent 65 years of age or older now.
5. 21 percent of boomers right now provide financial support for a parent who is 65 years of age or older.
6. Of the nine Baby Boomer retirement regrets, understanding life expectancy was number eight and last, but not least, number nine was not planning for long-term care expenses. […]
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Pensionizing Your (Client’s) Nest Eggs: What, How and Why?
on DECEMBER 31, 2015
By Alexandra Macqueen, CFP®, Personal Finance Expert and co-author of “Pensionize Your Nest Egg: How to Use Product Allocation to Create a Guaranteed Income for Life” with Moshe A. Milesky, Ph.D.
Why do we need to consider “pensionizing” a portion of our savings?
Whether you’re retiring today or whether you’re looking at retiring 5, 10, 15 years in the future, why would you need to consider pensionizing your nest egg?
What was retirement like 40, 50, 60 years ago? You might have a job with a traditional defined benefit (DB) pension. When you retired, you transitioned smoothly from a work paycheck to a retirement paycheck and you didn’t have to worry about making sure that that income would last as long as you did. You didn’t have to worry about protecting it from market volatility, and if you were lucky, you didn’t even have to worry about ensuring that it was meeting inflation because it might be inflation adjusted.[…]
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Finding the Gold in Gray: Keys to Serving Boomers and Older Clients
on DECEMBER 31, 2015
By Michael Sullivan, Retirement Communications Expert
Look at the trend in aging that we have in this country. Are you old? Do you consider yourself old? No, not really. Old is for that little old lady sitting in the back room of the healthcare center. It’s not me.
Nobody wants to be old. Aging is not popular. Youthfulness is. The messages that come to us in all sorts of advertising don’t say to have fun as you get older. They say to think young. Betty Davis, the actress, had a phrase, “Aging is not for sissies.” Some of us are learning that may be the issue. We’ll be talking about aging and the five senses, and how to use right brain communications from the right hemisphere of the brain with a series of communications techniques that you ought to be using, if you’re not already. […]
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State Savings Programs for Non-Government Employees*
on DECEMBER 31, 2015
At the 2015 White House Conference on Aging, the President directed the Department of Labor to publish guidance to support the efforts of a growing number of states trying to promote broader access to workplace retirement saving opportunities for America’s middle class workers.
The Employee Benefits Security Administration (EBSA) published in the Federal Register a proposed regulation describing a safe-harbor for state laws that require employers to facilitate enrollment in state-administered payroll deduction individual retirement accounts (IRAs).
The proposed regulation under the Employee Retirement Income Security Act of 1974 (ERISA) sets forth a safe harbor describing circumstances in which a payroll deduction savings program, including one with automatic enrollment, would not give rise to an employee pension benefit plan under ERISA. A program described in this proposal would be established and maintained by a state government, and state law would require certain private-sector employers to make the program available to their employees. […]
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Earn 1 free Continuing Education (CE) credit for the December 2015 Issue of InFRE’s Retirement InSight and Trends
on DECEMBER 31, 2015
This issue of the December, 2015 issue of Retirement InSight and Trends is no longer eligible for CE credit.