Archive for Retirement Income Planning and Spending
By Andrew Shedlock, Partner, Kutak Rock My goal is to help planners and fiduciaries understand the basis of cryptocurrency investments, what a crypto token is, what Bitcoin is, and how they work. I want to inspire you to learn more about what I can trigger in your mind about cryptocurrency. First, crypto is an alternative […]
Read more →By David M. Blanchett, PhD, CFA, CFP®, Head of Retirement Research, Morningstar Investment Management Of all the risks that people face, longevity risk is the oddest because risks are usually a bad thing. Living a long time, in theory, should be a good thing, right? When we retire, we want to have a long and […]
Read more →By Kevin S. Seibert, CFP®, CRC®, CEBS, Managing Director, International Foundation for Retirement Education (InFRE) The idea of retirement is a relatively new concept. A child born in 1900 had a life expectancy of age 47. People worked as long as they could and then moved in with their children. The idea of not working […]
Read more →By David M. Blanchett, PhD, CFA, CFP®, Head of Retirement Research, Morningstar Investment Management My goal is to help you understand the trends and role of the age people retire to help you better help your clients Create reasonable expectations for their financial plans; Understand what the kind of drivers of early and late retirement […]
Read more →By Jamie Hopkins, Esq., LLM, CFP®, ChFC®, CLU®, RICP Can we build systems and processes that really encourage the client, the end consumer, have a more secure retirement and overcome the hurdles we know exist because of misconceptions and fear from biases? How Can Advisors Provide Value? If we are a comprehensive advisor, there are […]
Read more →By Wade Pfau, Ph.D., CFA, author of academic retirement research with practical application, RetirementReseacher.com There are two schools of thought regarding retirement – probability based and safety first – that really approach retirement income from fundamentally different perspectives. We’ll focus here on the probability-based side, the idea of using an investment portfolio to manage retirement […]
Read more →By Sudipto Banerjee, Ph.D. Employee Benefit Research Institute (EBRI) Introduction Spending is one of the crucial economic factors in retirement, so it is very important to understand the spending patterns of retired households and the causes that drive their spending behavior. Understanding spending patterns not only will help current retirees succeed, but it will also […]
Read more →The following is an excerpt from the March 2016 GAO Report to Congressional Requesters, RETIREMENT SECURITY – Better Information on Income Replacement Rates Needed to Help Workers Plan for Retirement. Why GAO Did This Study Part of the Department of Labor’s (DOL) mission is to promote the retirement security of America’s workers, a goal that has […]
Read more →By the Society of Actuaries and Mathew Greenwald, PhD, Retirement Research Expert Editor’s Note: Below is an adaptation of the live webinar delivered by Mathew Greenwald and Cindy Levering of the Society of Actuaries in 2016. Their comments have been edited for clarity and length. You can read the summary article below as part of the […]
Read more →By Faisal Habib, PE, MBA, FRM, President of QWeMA (pronounced KWEE-MA), a division of CANNEX Financial Exchanges Limited Editor’s note: For 25 years, the 4% withdrawal rule has reigned supreme in the financial planning community as the single solution for the highest probability of creating sustainable income from a retirement portfolio. I must confess that […]
Read more →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. Editor’s note: This presentation was delivered in live webinar format in 2015. Alexandra’s comments have been edited for clarity and length. You can view a YouTube […]
Read more →By David Blanchett, CFA, CFP®, AIFA® – Head of Retirement Research, Morningstar Editor’s note: This presentation was delivered in live webinar format in 2015. David’s comments have been edited for clarity and length. You can view a YouTube brief of the original presentation here. You may also choose to take the full length course to earn 1 […]
Read more →By Michael Falk, CFA, CRC®, Focus Financial Consulting Editor’s note: Below is an adaptation of the live webinar delivered by Michael Falk in 2015. Michael’s comments have been edited for clarity and length. You can view a short YouTube clip of the original presentation here. You may also choose to take the full length course, […]
Read more →By Kevin S. Seibert, CFP®, CRC®, CEBS, Managing Director, International Foundation for Retirement Education (InFRE) There are key questions to answer for clients, and you can also ask certain employees if that’s appropriate based on whom you’re working with. The key questions to ask clients and employees when creating retirement income solutions are: What’s different […]
Read more →By Manish Malhotra, MBA, Founder, President & CEO of Income Discovery – Expert on Retirement Income Planning Software Editor’s note: Retirement income planning is complex, as it requires breaking down the silos of retirement plan or product type and evaluating how to combine resources such as Social Security, human capital, home equity, and various types […]
Read more →By Betty Meredith, CFA, CFP®, CRC®, Director of Education, and Research, InFRE Editor’s note: This presentation was delivered at the 2013 Financial Planning Association Annual conference. You can view brief YouTube clips of the original presentation here. You may also choose to take the full length course to earn 1 CRC®, CFP®, and/or PACE CE […]
Read more →By Michael Falk, CFA, CRC®, Focus Financial Consulting Editor’s note: Below is an adaptation of the live webinar delivered by Michael Falk in 2014. Michael’s comments have been edited for clarity and length. You can view a short YouTube clip of the original presentation here. You may also view the accompanying presentation in its entirety and […]
Read more →By Betty Meredith, CFA, CFP®, CRC® Director of Education and Research, InFRE As financial planners, we know that when someone arrives at retirement age and doesn’t have enough financial assets accumulated for retirement, there are still things they can do to substantially increase their retirement security even if the decision to retire has already been […]
Read more →By Betty Meredith, CFA, CFP®, CRC® Director of Education and Research, InFRE The financial planning industry is not ready to help the middle market make informed retirement decisions when they need it most. In my April, 2013 article in the Journal of Financial Planning (Still MIA: Comprehensive Best Practices for the Mid-Market), I referred to a […]
Read more →By Betty Meredith, CFA, CFP®, CRC® Director of Education and Research, InFRE Serving the retirement planning needs of the mid-market will be the big career opportunity of people in the financial services industry today, in addition to health care planning. According to new LIMRA research, investible retirement assets of U.S. households aged 55+ are expected […]
Read more →By Michael Falk, CFA, CRC®, Focus Financial Consulting Editor’s note: Below is an adaptation of the live webinar delivered by Michael Falk in 2014. Michael’s comments have been edited for clarity and length. You can view a short YouTube clip of the original presentation here. You may also choose to take the full length course, […]
Read more →Editor’s note: Last year, the Department of Labor’s Employee Benefit Security Administration (EBSA) published an advance notice of proposed rulemaking (ANPRM) about using lifetime income illustrations in defined contribution participant statements such as 401(k)s, 403(b)s, etc. to help employees understand what their savings might provide in terms of retirement income. Information like this can help […]
Read more →By Betty Meredith, CFA, CFP®, CRC® Last year I went to the new Costco in Ann Arbor, MI because I could tell that my eyesight had changed so much that it was time for new lenses. I expected a glaucoma test first, but this doctor’s assistant instead used a diagnostic machine to take several pictures […]
Read more →By Chuck Yanikoski, Founder and President of StillRiver Retirement Planning Software, Inc. Editor’s note: There were an estimated 3.7 million full-time equivalent elementary and secondary schoolteachers in the United States as of the fall of 2011. About three quarters of these teachers are female. In this article, Chuck Yanikoski of Still River Retirement Planning Software, […]
Read more →by Michael Finke, Ph.D., CFP®, Wade D. Pfau, Ph.D., CFA, David M. Blanchett, CFA, CFP® Editor’s Note: I have been concerned for several years about the effect of low interest rates on retirees and what will happen to their bond investments once interest rates are not artificially suppressed. I’ve also long held that the 4% rule is not […]
Read more →This is the second half of a summary of focus groups with financial planners at the Financial Planning Association 2012 Retreat in Scottsdale, Arizona on May 6-7, 2012. The first half of this report appeared in the December, 2012 issue of Retirement Insight and Trends. By Anna Rappaport FSA, Jaleen Edwards, and Betty Meredith, CFA®, […]
Read more →A summary of focus groups with financial planners at the Financial Planning Association 2012 Retreat in Scottsdale, Arizona on May 6-7, 2012 By Anna Rappaport FSA, Jaleen Edwards, and Betty Meredith, CFA®, CFP®, CRC® Many surveys of America’s middle-market have found that this market is vastly underserved when it comes to financial planning, services and […]
Read more →By Betty Meredith, CFA, CFP®, CRC® Making informed retirement income decisions is much more difficult than making retirement accumulation decisions, and millions of pre-retirement and retired Americans currently do not have access to the qualified professional advice they need. Professionals choosing to work with these millions of middle mass and middle mass affluent clients in […]
Read more →By Betty Meredith, CFA®, CFP®, CRC® In this new column, we’ll provide links to practical online resources that can help retirement counselors in their one-on-one meetings with clients or seminar/workshop participants. If you know of a resource that will benefit other retirement counselors, send an email with a link to me at info@infre.org. Thank you […]
Read more →Center for Retirement Research Issues Brief, June 2012, Number 12-11 By Alicia H. Munnell, Natalia Sergeyevna Orlova, and Anthony Webb* Introduction Financial planners devote considerable energy to advising Americans how to invest their retirement savings. Of course, wise investment of one’s hard-earned money is important. But the fact is that many Americans have saved very […]
Read more →By Betty Meredith, CFA®, CFP®, CRC® The U.S. Senate Special Committee on Aging asked the Government Accountability Office (GAO) to report on recommendations of professionals and choices made by American workers regarding retirement income. For this report, the GAO interviewed officials from the Department of Labor, the Internal Revenue Service, the Securities and Exchange Commission, […]
Read more →By Betty Meredith, CFA®, CFP®, CRC® I live just west of Dearborn, Michigan where Henry Ford revolutionized manufacturing in the early 1900s by creating the assembly line. Cars evolved from luxury item for the well-to-do to essential transportation for the ordinary man. Using innovative production techniques, Ford decreased the production time of a car from […]
Read more →By Betty Meredith, CFA®, CFP®, CRC® The financial industry generally classifies a client’s risk tolerance by their capability to assume investment risk. When retirement planning for the mid-market, retirement counselors need to prioritize a client’s ability to protect against the additional primary risks of inflation, longevity, health and long-term care before they plan for their […]
Read more →By Betty Meredith, CFA®, CFP®, CRC® In early February, The Council of Economic Advisers published a report titled “Supporting Retirement for American Families.” The paper summarized the historical shift from traditional DB to 401(k)-type plans and hybrid DB plans, highlighting the problem of decreasing lifetime retirement benefits for American workers, and the need for employer-sponsored […]
Read more →By Kerry Prechter, Editor, Retirement Income Journal A directory of 27 software tools accompanies this overview of the rapidly evolving retirement planning technology industry. “Only the dead know Brooklyn,” a great novelist once wrote. Thomas Wolfe wasn’t referring to zombies; he was just observing that no one alive could possibly know everything there was to […]
Read more →By Betty Meredith, CFA®, CFP®, CRC® Editor’s note: This is the second half of a two-part article on a retirement income planning process for the mid-market. The first half can be accessed here. Step 4: Identify Options for Addressing Gaps Steps 1, 2, and 3 make up the data collection phase of creating a retirement […]
Read more →Retirement income planning is the most important trend in the financial planning industry today, and it requires a new type of qualified retirement professional who can manage income at the start of and throughout retirement for middle-affluent and middle-mass clients. This article explains a six-step retirement income management process jointly developed by the International Foundation […]
Read more →This is the first of what may become a regular column on issues we all deal with regarding retirement plans. So why rants? Among all the products, people, regulations and results, we all have a few issues to rant about! The goal of this column is not simply for me to shout, but rather to […]
Read more →Retirement-specific training and education programs by leading experts to help advisors and consumers make informed retirement decisions.
This quarterly newsletter is also made available to all retirement professionals seeking the practical application of new retirement readiness, counseling, planning, and income management concepts that build the retirement security of middle-mass and mass-affluent consumers.