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| September 2009 | © The National Underwriter Company | Volume 6, No. 2 |
| SPONSORED BY |
Weighing the options for retirement income planning By Herbert K. Daroff The biggest concern among clients about retirement distribution is having their account balance go to zero before their blood pressure drops to zero. To avoid this adverse outcome, many experts make the following suggestions: Work longer: Clients who retire later will have more years to contribute and accumulate their retirement nest eggs. They will also have fewer retirement years. This idea certainly works—if the advisor can get clients to cooperate. [ To comment on this topic, write to the editor. ] Withdraw less: This also works, but how to explain to clients that they have to sacrifice their standard of living? Many studies show that taking only 4% withdrawals will allow most portfolios to continue. However, what will the retiree not be able to do during…click here for entire article Herbert K. Daroff, J.D., CFP, is a partner at Baystate Financial Planning, Boston, Mass. His e-mail address is [email protected]. Sign up today! If you have received this letter from a colleague and would like to receive your own copy just click here to subscribe |
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Are defined benefit pensions coming back into favor? - by Linda Koco - Without doubt, defined contribution plans, such as 401(k) plans, are still much in demand. But subtle signs are emerging that traditional defined benefit retirement plans are not only still here, but they are actually attracting renewed interest, albeit in alternative forms. Anyone who is doing retirement income planning needs to stay tuned to the changing environment. The uptick in sales of immediate annuities, as detected in recent statistics from LIMRA International, Windsor, Conn., is one indication of consumer interest in having a DB-type income stream. Another indication came earlier this year in a survey of employees; it showed that employees seem to be much more interested in annuitized retirement benefits than…click here for entire article |
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Retirement income is key: survey - A recent survey shows that pre-retirees are focusing on having an income that can maintain their standard of living in retirement. Among those polled, 87% said they believe advice about strategies for drawing income to live on in retirement is important to them, and 86% say the same about…click here for entire article Pensions rebound - A drop in corporate bond yields probably hurt the typical large U.S. defined benefit pension plan in August. The "funded ratio" at a typical plan rose to…click here for entire article Few Roth individual retirement account exchanges seen - by Warren Hersch - Most boomers plan to keep their traditional IRAs intact instead of turning their tax-deferred savings into tax-free retirement income next year, a new survey concludes. The survey finds that 73% are not planning to…click here for entire article Government Accountability Office addresses various retirement plan issues Internal Revenue posts Roth rollover advice Fewer older Americans are 'edentulous' Company executive testify on retirement plan disclosure to participants Death rate falls again Erisa exemption sought Internal Revenue wants help with 414(x) retirement plan rules |
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Boomers won't crash the stock market, says Budget Office - Predictions that the baby boomers will crash the stock market when they retire are probably exaggerated, a Congressional Budget Office analyst writes. "Some economists warn that if the baby boom generation begins to sell off assets to finance retirement, there could be a steep decline in the demand for..."click here for entire article Retirement income software needs sprucing up: experts - by Linda Koco - Not all retirement income planning software is alike, cautions a paper presented at the Pension Research Counsel Spring Symposium in Philadelphia. Some programs are satisfactory for households with relatively simple finances, while others are…click here for entire article Turning age and wealth into virtues for small business owners - by E. Thomas Foster Jr. - The relative benefits of age and wealth, often a virtue in the business world, are decidedly a vice when planning for their retirement. The older the business owner, the fewer years he or she has to accumulate sufficient assets to continue his or her…click here for entire article Chief financial officers want safer plan options A good time to bone up on non-forfeiture, other policy features Retirement plan balances recover Treasury works on retirement What counts as a prospectus in retirement plans? Employees prefer employers over advisors for retirement savings advice: survey |
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Hiring an assistant to manage pre-sales prospecting, marketing and administrative tasks can help increase business, according to Chris O'Shea, an advisor representative at Allegiance Financial Advisors, Jacksonville, Fla., and an 11-year industry veteran who caters to boomers and retirees. Revenues rose at his firm after it made such a hire, he says. "Adding a qualified assistant has yielded a remarkable improvement in terms of the efficiency with which I pre-screen clients and prospects," says O'Shea. "I'm now able spend a lot more quality time with clients." See the entire article here [ To comment on this topic, write to the editor. ] |
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The National Underwriter Company |
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