When it comes to Social Security and retirement, you may have conflicting viewpoints: On one side, you hope to start collecting your benefits as soon as you're eligible— or maybe you're concerned you'll need that income sooner. While it does make sense to wait as long as you can, Sherman Hohenberger, lead wealth planner at Wells Fargo Wealth& Investment Management,…
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For example, a 30- year-old with $50, 000 in her 401 who saves $300 a month could have around $830, 000 by age 65, assuming a conservative long-term return of 6 percent, compounded monthly. If she stopped contributing in 2022 for one year, she'd have an extra $3, 600, less taxes, in her take-home pay. However, by not contributing $3, 600, that money misses out on 35 years of…
How can a smaller move send a big message? That’ s the dilemma the Federal Reserve finds itself in as it meets this week to discuss its a target short-term interest rate. And there’ s no doubt on Wall Street they will hike rates by one-quarter of 1%, according to the CME FedWatch Tool.
Despite a short rally in December, the bond market suffered its worst decline in decades, thanks to the Federal Reserve's swift and sizable interest rate increases in 2022. All told, there was "nowhere to hide," says John Lovito, co-chief investment officer of global fixed income at American Century Investments. "Bonds are going to be back in 2023," says Luis Alvarado,…
Save more, spend less and pay off debt are popular New Year's resolutions— and perhaps the ones most likely to fall by the wayside a few weeks into the year when reality sets in and expenses derail plans. But an early-in-the-year setback, like paying your health insurance deductible or the credit card bills after a costly December, doesn't have to knock you off…
Wall Street kicked off the week with a broad stock market rally Monday, as investors look ahead to a busy week of company earnings reports and grow more confident that the Federal Reserve will turn the screws on the economy less aggressively. The S&P 500 rose 1.2%, led by tech companies. On one hand, they've benefited from hopes that the nation's high inflation will…
Establishing trust with LGBTQIA+ clients
Navigating the legality of relationships is already an exhausting process for most queer folks, and the impact on their finances is no exception.
If you’ re a retiree dealing withMedicare, you’ ve just noticed that your increased Social Security benefit is being reduced substantially by rising costs for MedicarePartBandPartD, aswell as by increased costs for drugs thatmay be only partially covered by insurance. Andthis is just the start, according to anewreport by the Employee BenefitResearch…
For some, nothing to fear from taking RMDs, professor says
Clients may not be happy about taking required minimum distributions if they don’t need the money right now, but there are some ways advisors can help ease their concerns.
Turbulent market conditions and rampant inflation have forced investors to consider working after their retirement, according to a Nationwide Retirement Institute study.
The transaction includes a broad strategic partnership agreement aimed at aligning the interests of the two organizations, including an arrangement whereby Securian Financial will distribute its individual life and annuity products through Cetera’s affiliated financial professionals.
Study: Education level should drive decisions on Social Security, annuities
Less educated people tend to live shorter lives, so they should delay Social Security and use their retirement funds as a bridge, while better educated have longevity and should buy an annuity and not delay Social Security, according to a study.
The U.S. Attorney for the Northern District of California, Stephanie M. Hinds, issued the following news release on Jan. 24, 2023:. According to court documents, Dodson engaged in a scheme between November 2012 and May 2015 to defraud investors while serving as the executive chairman and managing partner of Citadel Energy Partners, which purported to provide…
The Securities and Exchange Commission issued the following litigation release involving Anthony B. Liddle:. The Securities and Exchange Commission today filed a litigated action charging Anthony B. Liddle, a resident of Wausau, Wisconsin, with defrauding at least 13 investment advisory clients of approximately $1.9 million. The SEC's investigation, which…
State Treasurer Dave Young led a discussion of the program this morning as he opened the portal. Colorado SecureSavings offers workers access to a Roth Individual Retirement Account that is managed by Vestwell State Savings LLC, which does business as Sumday Administration. Sumday and the Bank of New York Mellon have responsibility for day-to-day…
Last week, the Federal Reserve reported that lending activity is down in some parts of the country but up in others. At First Pacific Bank in Southern California, demand for loans has been pretty strong lately. "I did expect it to cool off a little bit with interest rates going up, but I think everyone's kind of taking that in stride," said Nathan Rogge, First Pacific…
How creating value will turn you into an introduction machine
When everyone profits. you have a sustainable relationship that will grow over time.
6 steps for financial advisors to create a successful marketing strategy
While market volatility, compliance pressures and a competitive landscape have created a challenging environment for financial advisors seeking new clients, a defined marketing strategy can lead to greater success, according to a recent Broadridge Financial Solutions survey.
The vast majority (82%) of Americans say they are worried about rising inflation continuing to have a negative impact on the purchasing power of their income in the next six months.
