QUESTION: I have been taking care of my elderly father for over a year, and it's taking a toll on my finances because I can only work part time. Are there any resources you know about that can help family caregivers get paid? All 50 states and the District of Columbia offer self-directed Medicaid services for long-term care.
News, trends and helpful peer advice for financial advisors.
7 client acquisition strategies for today’s financial advisor
Two industry experts recently shared some tips and techniques to help advisors acquire the clients they need to take their business to the next level of success.
Silicon Valley Bank collapsed Friday after depositors rushed to pull funds from the tech lender amid jitters about its exposure to the fragile technology sector. While this kind of thing doesn't happen very often, the demise of Silicon Valley Bank serves as an lesson for all bank customers about what can happen if an institution goes under.
Kalb, the CEO and co-founder of Seattle- based food management startup Shelf Engine, had been following news of a bank run at Silicon Valley Bank, with droves attempting to pull out $42 billion from the bank on Thursday alone on fears that it was teetering on the brink. Not only did Silicon Valley Bank help the company process checks and payments, but all of the…
A study found 2022 fines and restitution decreased significantly compared with 2021, in large part because of one record-breaking fine FINRA ordered in 2021 against an online brokerage firm. Additionally, the number of disciplinary actions declined for the third year in a row.
Household net worth climbed nearly $3 trillion, or 2%, in the October-December period to $147.7 trillion after declining the previous two quarters, a Federal Reserve report showed Thursday. The value of equity holdings advanced $2.7 trillion in the fourth quarter, while the value of real estate held by households fell almost $100 billion.
The final datapoint to lock in the market's expectation for the Federal Reserve's next interest rate move comes on Tuesday in the week ahead. February's consumer inflation number will cement predictions regarding how much the Fed will raise its target short-term interest rate when it meets on March 22. The Federal Reserve Bank of Cleveland releases…
Katja Rivera, 64, is a massage therapist and theater director in Berkeley, California, who says she's never earned more than about $30,000 a year. When Rivera retires in a few years, she expects to receive a Social Security check based on her ex's greater earnings. Many divorced people don't realize they can get Social Security benefits derived from their…
Mrs. Haley, who is running against former President Donald Trump and others for the GOP presidential nomination, waded into the thorny entitlement debate Wednesday during a town hall in Council Bluffs, Iowa. President Biden accused GOP lawmakers of targeting Medicare and Social Security as the House majority insists on spending cuts in exchange for raising…
Long Island resident Peter Quartararo, age 57, of Glen Cove, was arraigned Thursday, March 9 on charges of grand larceny, said Nassau County District Attorney Anne Donnelly. During the "scheme" which began in July 2018 and continued through January 2021, Quartararo met with six victims and told them that he had access to "pre-IPO" or pre-initial public offering…
IRI unveils 2023 roadmap for federal legislation, policy impacting retirees
The Insured Retirement Institute has unveiled its 2023 security blueprint, an ambitious and comprehensive roadmap for the association’s federal legislative and regulatory public policy agenda.
Is a Roth IRA right for you? This can bump other earnings into a higher tax bracket and potentially increase the taxability of your Social Security benefits. In 2023 and later, once you turn 73 the IRS requires that you take required minimum distributions from traditional IRAs.
Many people plan to take an early retirement, so when that day arrives, they're ready for it. But what if you were to face an unplanned retirement? Would you be prepared to deal with the financial issues?
Bipartisan group introduces bill to help Americans maximize Social Security benefits
A bipartisan group of senators proposed legislation and has asked the Social Security Administration to help Americans better understand the optimal time for them to claim their benefits.
The top 5 misconceptions about alternative investments
By Deshawn Peterson Alternative assets and private markets have gained popularity in recent years as investors seek to diversify their…
NEPC, LLC, one of the country’ s largest research-driven investment consultants and OCIO providers, today published the 17th annual edition of its Defined Contribution Plan Trends and Fee Survey, which examines current plan investment trends, features, and innovations across major sectors, and how these plans have evolved over the years.
The SECURE Act 2.0, passed by Congress in late 2022, features numerous ways for you to save more money in your tax-advantaged retirement accounts. Here are several of the bill's provisions and what they mean for you. For example, if you must earn an additional $10,000 before you hit the next highest tax bracket, consider pulling more taxable income out of your…
Female advisors see ‘helping people’ as main career draw, training as hurdle
In a recent survey of female financial advisors, more than half of all early-career respondents said “helping people with finances” was their motivation for becoming an advisor. They noted lack of training as a top hurdle early on.
Middle-income families offer opportunity for financial advisors, report says
Although middle-income Americans often have limited means, they do present valuable opportunities for agents who are willing to offer the financial guidance they need, especially in today’s volatile economy.
In the past year, the Federal Reserve has employed several interest rate hikes in an effort to stabilize the U.S. economy. Depending on your situation and financial institution, your debt may have gotten more expensive or your savings might have grown. “For folks who are looking for loans, they can often find a credit union with lower rates because credit unions are…