Beyond food, fuel, and maybe used car prices there are not a lot of areas where I see any relief on the inflation front. The Bureau of Economic Analysis is predicting that American consumers will spend a whopping $95 billion on live event tickets this year. An average ticket price for a live concert this summer stood at $120.11, according to Pollstar.
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DPL hits $2B in commission-free annuity sales driven by fiduciary advisors
The increasing prevalence of fiduciary business models among financial advisors is proving to be a tailwind for commission-free annuities.
Dec. 4— The U.S. Securities and Exchange Commission has charged the company that owns the main strip mall at Belleville Crossing shopping center and its CEO with fraud for allegedly engaging in a multiyear scheme to "misappropriate" more than $35 million in investor funds. The SEC filed charges on Nov. 28 in U.S. District Court for the District of Arizona against…
The landscape of retirement income planning is undergoing significant transformation, reflecting shifts in market dynamics, client expectations and the advent of new financial products. This paradigm shift necessitates a broader understanding of various financial elements, including investment products, Social Security, inheritances, market…
Equitable released a study that shows how changes in relationships can impact financial behaviors and mindsets for women.
Betterment at Work released a new survey on the state of retirement readiness across the U.S. workforce.
Supreme Court takes up meaning of ‘income’; decision could impact taxes
A couple’s fight to get a $14,729 tax refund made it to the U.S. Supreme Court this week in a case that might upend the federal tax code.
Hands off to cuts to Social Security and Medicare. When you work and receive your paychecks, you will notice some of your pay has been deducted for Social Security and Medicare. Most Americans are deeply opposed to cutting into Medicare or Social Security benefits, and most support raising taxes on the nation's highest earners to keep Medicare running as it is.
David Solomon, CEO of Goldman Sachs, has attacked a recent proposal from regulators that would require banks to raise their capital on the books by 16% to prevent risks of collapse, such as what occurred at Silicon Valley Bank, according to a Yahoo! The Federal Reserve, Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency proposed the…
Americans underestimating LTC cost risk to retirement, study finds
Half the financial advisors surveyed believe consumers should be more focused on how long-term care (LTC) costs could impact their retirement.
A majority of advisors are experimenting with generative artificial intelligence in their practice and educating their clients on potential risks of online misinformation.
Advisors should see digital tools, apps as opportunity, J.D. Power says
Financial advisors can use mobile wealth management apps as a means to increase client engagement and satisfaction, a recent study found.
Just 1 in 5 affluent investors use parents’ advisor
Only one in five affluent investors uses the same advisor as their parents, according to a recent Cerulli Edge study.
WASHINGTON- Inflation is slowing steadily, but it's too early to declare victory or to discuss when the Federal Reserve might cut interest rates, Chair Jerome Powell said. WASHINGTON- Americans could have a harder time finding electric vehicles that qualify for a full $7,500 federal tax credit under new rules being proposed. They limit electric vehicle buyers…
About 61% of American households have an average credit card balance of $7,486, according to NerdWallet's 2022 American Household Credit Card Debt Study. That's the largest jump in more than 20 years, according to the Federal Reserve Bank of New York. It's estimated that U.S. households will pay an average of $1,380 in credit card interest this year, according to…
For 35 years, Angela Jemmott and her five brothers paid premiums on a long-term care insurance policy for their 91- year-old mother. But the policy does not cover home health aides whose assistance allows her to stay in her Sacramento, California, bungalow, near the friends and neighbors she loves. Her family pays $4,000 a month for that.
Interest in leveraging artificial intelligence is high, with majority of advisors using it for employee onboarding practices.
If your children are grown and your mortgage is paid off, do you still need to carry life insurance? It depends on your situation, but for many people, a cash-value life insurance policy, such as whole life or universal life, can be a valuable, tax-efficient source of retirement income. And by drawing on the cash value of your policy, you might be able to tempo rarily…
Where did Social Security come from?
Social Security and Medicare may have begun with the general intent of providing welfare and assisting older adults with inadequate income, but they morphed into an entitlement not always connected to being needy.
Investors bullish on AI as a financial advisor tool
Financial advisors believe that generative AI — as it develops and matures — could be a game changer.