A recent oft-quoted survey from Northwestern Mutual Life Insurance tried to boil the results down to one number, and it is $1.46 million, up“ a whopping 53% from the $951,000 target Americans reported in 2020.”. Obviously, the survey result number is much higher than the median or mean amount of money held in a retirement account, according to the Federal Reserve.
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MINNEAPOLIS, Minnesota, May 8– Allianz Life Insurance Co. of North America, a provider of retirement solutions, including fixed and variable annuities and life insurance for individuals, issued the following news release:. Americans' view of retirement is shifting as nearly half of Americans think about retirement as a slow transition away from full-time work…
Retirement ‘fluency’ linked to retirement confidence, study finds
People’s confidence in their retirement plan is linked to their “retirement fluency,” which measures their retirement knowledge.
BlackRock, Equitable product offers retirement security, predictable ‘paycheck’
Equitable has announced LifePath Paycheck, a product with the goal of providing predictable security for retiring Americans.
Reviewing your bank statements and retirement account balances might not sound romantic, but the purpose of a money date transcends these tasks. These regular meetups build trust and intimacy, saysBariTessler, a financial therapist and author of "TheArt ofMoney." Money dates allowyou and your partner to understand each other’ s financial perspectives,…
What will the DOL rule mean for advisors?
The main thing, an attorney said, is that almost everyone will become a fiduciary and must satisfy a prohibited transaction exemption.
A recent oft-quoted survey from Northwestern Mutual Life Insurance tried to boil the results down to one number, and it is $1.46 million, up "a whopping 53% from the $951,000 target Americans reported in 2020.". Obviously, the survey result number is much higher than the median or mean amount of money held in a retirement account, according to the Federal Reserve.
When the Securities and Exchange Commission sued developer Rishi Kapoor in December, accusing him of defrauding investors in his real estate projects, the SEC’ s lawsuit made no mention of his company’ s consulting agreement with Miami Mayor Francis Suarez. The Miami Herald has previously reported that the mayor received a $10,000 monthly retainer but has now…
Inflation is still the top financial challenge for many Americans
Although inflation is down significantly from its four-decade high in 2022, it is still the leading financial challenge for many Americans.
One of the fastest growing sectors of the retail economy is beauty, and it's pretty hard to overstate its popularity. Just a few years back in 2018, the beauty space was valued at approximately $508 billion. Less than six years on, that figure has grown to $579 billion— a 14% uptick in growth.
The U.S. economy likely added nearly a quarter of a million new jobs last month, extending the longest streak of sub-4% unemployment since the 1960 s, as the labor market continues to defy repeated warnings of a slowdown and Federal Reserve interest rate hikes. Economists expect the Labor Department to report headline job creation of around 243,000 for the month…
Peak 65 boomers face a retirement preparedness gap
This is the year when the U.S. hits “Peak 65” – when the number of Americans reaching age 65 is at its highest level.
By the time you reach retirement age, you may have accumulated a 401, IRA and other investment accounts, along with insurance policies and physical properties. You'll use some of these assets to support your retirement, but the rest may end up in your estate- which is why an estate plan is so important. So, to leave a legacy for your family and those philanthropic…
WASHINGTON— The Federal Reserve on Wednesday emphasized that inflation has remained stubbornly high in recent months and said it doesn’ t plan to cut interest rates until it has“ greater confidence” that price increases are slowing sustainably to its 2% target.The Fed issued its decision in a statement after its latest meeting, at which it kept its key rate at a…
The good news from the Federal Reserve's meeting on May 1 was that the central bank isn't raising rates. Fed Chairman Jerome Powell even said as much at his news conference on Wednesday: "It is unlikely the next move will be a hike." The bad news is that it is not cutting rates, at least for a while, and probably not until the fourth quarter of 2024.
Among American parents saving for their children’s college education, 95% expect to cover more than half of the cost for their children.
Global bank HSBC announced Tuesday the shock departure of chief executive Neil Quinn, who will retire after overhauling the group in an "intense" five-year tenure weathering a Covid fallout, simmering geopolitics, and shareholder pressure to spin off Asia assets. Quinn, 62, who streamlined HSBC to focus more on Asia, has decided to pursue a portfolio of business…
The Federal Reserve has promised to be "data driven" in deciding when to cut interest rates. But some of the recent economic data has the central bank driving in circles. Chicago Fed president Austan Goolsbee said recently. "
What’s new with SECURE 2.0 and workplace retirement plans?
Several provisions of SECURE 2.0 are taking effect and are changing plan sponsor behavior, a self-described “qualified plan nerd” said during a recent webinar.
Saving for college can impact your clients’ retirement
Many families find these two financial goals are in conflict. How an advisor can help.
