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State Street Global Advisors, the asset management business of State Street Corporation, in partnership with the University of California, today announced that IncomeWise™, a deferred lifetime income solution, has launched within the University of California’ s defined contribution plans that serve more than 300,000 participants and include over $34.6…

It's human nature to want to make things easier for our loved ones and to have great concern about adding any stress to their lives. In fact, 72 percent of retirees say that one of their biggest fears is becoming a burden on their families, according to the Edward Jones/Age Wave "Four Pillars of the New Retirement" study. How can you address this fear?

–Fewer than one in four U.S. workers are "very" confident that they will be able to fully retire with a comfortable lifestyle, according to A Compendium of Findings About the Retirement Outlook of U.S. Workers, a study released today by nonprofit Transamerica Center for Retirement Studies ® in collaboration with Transamerica Institute ®.

Blackstone would also maintain a minority stake in the Company. The Company has strong and growing merchant relationships formed over 30 years and has nearly doubled its annual loan originations since Blackstone first invested in 2018, with originations expected to reach $2 billion in 2021.. Menes Chee, a Senior Managing Director at Blackstone, and C. C….

If your parents are getting close to retirement age, or are already retired, it may be time to talk with them about financial and aging issues, some of which may involve difficult conversations. For the sake of everyone in your family, don't avoid these "taboo" topics. You'll need to be careful about approaching these subjects with your parents.
Finding talent is going to challenge insurers in 2022, a new survey concludes.

A new study, “Black Women, Trust, and Financial Services,” surveyed 3,500 middle-income Black women and found three in five expressed difficulty finding financial professionals or advisors they trust.

–One of the biggest issues parents of teenagers may face is determining if their child is experiencing a mental health challenge or ordinary“ growing pains.”. Only half of parents* with children ages 16 to 24 said they are very or completely confident they can tell the difference between normal adolescent challenges and a mental health condition, according to the…

While you're working, you may be contributing to an individual retirement account, which can provide a tax-advantaged way to save for your future. So, is it ever a good idea to tap into your IRA before you retire? Ideally, you should leave this account intact until your retirement.

About $24 million of the settlement will return to New Mexico public employee pension funds, according to state Attorney General Hector Balderas, who announced the settlement Monday. The suit was filed June 30 in U.S. District Court of New Mexico on behalf of the State Investment Council by the Attorney General's Office and Kirby McInerney LLP, a New York law…

Independence Point Advisors today announced that it has launched as a women-owned investment bank and advisory firm. IPA was founded by industry veteran Anne Clarke Wolff on the belief that today’ s clients have a diversity of opportunities and challenges that require a diversity of talent to navigate. IPA will also utilize its tenured network of women…

It takes more than just Social Security to cover the 80% of your pre-retirement annual income, which is what financial advisers recommend. The same survey found 23% of employed Coloradans over 50, with incomes under $75,000, said their current employer did not offer a way to save for retirement. According to the Employee Benefit Research Institute's…

"For many investors, tax-loss harvesting is one of the most useful tools for reducing capital gains taxes." What is tax-loss harvesting and will it work for you? When securities and certain other assets such as real estate are sold at a loss to offset a capital gains tax liability, the process is known as "tax-loss harvesting" or "tax-loss" selling.

In South Florida, for example, a semi-private room in a nursing home with skilled nursing care can cost about $90,000 to $100,000 a year or more, depending on the type of facility and the level of care provided. High costs of home health care in South Florida. A registered nurse in South Florida, for instance, costs an estimated $95 per hour, a licensed practical nurse…

The financial services industry is overlooking or underserving a potentially huge and growing market according to a new study from the Center for Economic Empowerment and Equality, part of The American College of Financial Services.
Goal-setting is an important exercise at this time of year.

As advisors and agents set goals for themselves, they should keep three things in mind if they want to increase their chances of success, experts say.

Lambda Legal announced on November 1 that the Justice Department has dismissed two appeals pending at the San Francisco- based Ninth Circuit Court of Appeals, opening the way for enforcement of orders by federal courts in Washington State and Arizona in favor of Lambda's claim that surviving same-sex partners who would have married their spouses prior to…

WASHINGTON— If you're old enough and have worked long enough, you may recall getting an annual Social Security statement in the mail, about three months before your birthday, with estimations of your benefits. Now, if you want to see your personal Social Security statement, you'll have to create an online account. "I give them a lot of credit for trying to make this…

Principal Financial Group ® has announced an expansion of its suite of retirement solutions for Hispanic workers by adding a Spanish-language option to its mobile retirement app. This enhancement is designed to help increase retirement savings and management access to the hundreds of thousands of Hispanic workers Principal ® serves as many face a…

A new survey captures in excruciating detail the ordeal faced by first-time homebuyers across the country as they deal with housing shortages. The report surveyed over 1,000 first-time homebuyers in the United States. "It's a struggle when you have high property values for someone to get a home," said Doug Leever, mortgage sales manager with Tropical Financial…

The U.S. Department of the Treasury's Internal Revenue Service issued the following news release on Nov. 8, 2021:. The Internal Revenue Service today encouraged taxpayers, including those who received stimulus payments or advance Child Tax Credit payments, to take important steps this fall to help them file their federal tax returns in 2022..
The pandemic has many older Americans concerned about retirement security.

One in four employer-sponsored retirement plan participants ages 45 and older reporting that the pandemic has caused them to push back their retirement or prevented them from ever retiring at all.

Over the last several years, the term "gaslighting" has become a popular way of describing an attempt to manipulate someone's perception of the world so they question their own reality. Let's see how gaslighting might apply to the way the Federal Reserve has been communicating with investors. For the first nine months of this year, Fed President Jerome Powell…

WASHINGTON, Oct. 30– The American Council of Life Insurers issued the following news release on Oct. 29, 2021:. American Council of Life Insurers President and CEO Susan Neely urged Congress to advance policies that will help all Americans, regardless of where or how they work, their life stage, or the economic status of their household, access the tools they need for…
Medical debt is threatening retirement plans for millions of Americans.

Medical debt is the largest single cause of bankruptcy in America, according to the National Consumer Law Center (NCLC), and more than half of debtors have medical debt as a part of their bankruptcy filings.

The U.S. Attorney for the Southern District of New York, Damian Williams, issued the following news release:. Damian Williams, the United States Attorney for the Southern District of New York, announced today that DONALD BLAKSTAD, the owner and principal of a California- based investment fund, was sentenced today in Manhattan federal court to 36 months in prison…

In 2010, when the Democrats had the White House, the House of Representatives and the Senate, the Affordable Care Act became law. In 2020, the Republicans only had the White House and the Senate, but they still were able to pass the CARES Act. This year, the Democrats again have the White House and both chambers of Congress, and the American Rescue Plan Act became law…

Voya Financial, Inc., announced today financial results for the third quarter of 2021:. Continued focus on capital management and creation of shareholder value:– Voya on target to repurchase at least $1.1 billion of its common stock in 2021; Board of directors authorizes the repurchase of an additional $500 million of common stock. "We achieved record adjusted…

A new poll reveals that the Global Financial Crisis of 2008 had the most profound impact on investors—but they continue to struggle with the financial fallout of the COVID-19 Pandemic—driving their desire for guided advice and need for comprehensive financial planning.

The Social Security Administration has issued a notice, published in the Federal Register on Oct. 22, 2021, entitled "Cost-of-Living Increase and Other Determinations for 2022". The notice was issued by Faye I. Lipsky, Federal Register Liaison, Office of Legislation and Congressional Affairs, Social Security Administration. Under title II of the Social…

Melone Private Wealth has created a breakthrough way to understand behavioral investing and how to avoid' behaving your way' out of significant returns. Over 25 years of research and financial planning experience has led to this innovative model of behavioral investing. Lou Melone, CFP ® started to build his model of The Anatomy of Investor Returns years ago…

Generally speaking, investing is a long-term process. You invest in your IRA and 401 to reach a long-term goal retirement. You may invest in a 529 education savings plan for many years to reach another long-term goal college for your children.

Empower Retirement, the nation’ s second largest retirement plan provider 1, has added approximately $100 billion 2 in assets under administration and 3,000 plans to its platform in the 12- month period ending Sept. 30, 2021. The $100 billion in AUA represents funded organic sales. Assets from Empower’ s new clients helped increase its defined contribution…

Q: I have often been hammered with the taxes on my investment in mutual funds. Even though I have not taken distributions from the funds, I have had to recognize a substantial amount of taxable income. I once switched from one fund to another within the same family of funds and had to pay a lot of tax on the capital gain I did not receive.
Employees value benefits and are looking to employers to deliver more.

Employees (62%) are also very satisfied with their employment-based retirement savings plans. In fact, 60 % of them say that their retirement plans continue to be an anchor of financial well-being, which is a 5% increase from 2020.

DPL Financial Partners’ 2021 RIA Retirement Planning Survey looked into the ways this era of low interest rates is impacting the way advisors look at various retirement income strategies and how they put those strategies into practice for their clients.
Generation Z workers were the most likely to be affected by the pandemic, with 59% reporting a negative financial impact.

Almost half of American workers said their financial situation has been negatively impacted by the COVID-19 pandemic, but that impact varies among the four generations who are in the workforce.
More work is needed to close the racial wealth gap, experts say.

The president of the Ford Foundation called for a national mobilization of private capital and public policy to invest in underserved communities and help close the racial wealth gap.

When I chaired the Senate Finance Committee off and on from 2001 to 2013, I both lowered and increased taxes. Fair to the people who sent us to Congress, whether they voted for us or not. The president and Congress are engaged in a Herculean effort to stop the spread of COVID-19, boost our infrastructure and tend to enormous social needs.

In the public discourse around taxes, there is a conflation of big and small business interests, but in reality their situations are far different. To pay for infrastructure investments that will strengthen our economy, President Joe Biden has proposed tax increases that ensure corporations and the wealthy are contributing their fair share to the effort.
Retirement requires strong planning to pull off well.

Thinking holistically about your clients’ retirement security and developing and executing a strategy aligned with their goals may help free them to enjoy one of the most rewarding times of their life.

Emergency preparedness experts recommend that you have a“ go bag” and a“ stay bin” for disasters: kits with supplies to help you survive a few days if you have to evacuate your home or shelter in place. Preparing your finances for natural disasters is also smart. Insurance consumer advocate Amy Bach recommends keeping at least $2,000 in a safe place somewhere in your…