According to a study financed by the Justice Department, as many as one in 20 older adults said they were financially mistreated in the recent past. And with 10,000 people turning 65 every day for the next decade, a growing pool of retirees are susceptible to such exploitation. To help elders in financial and other […]
The 2016 retirement plan limits have recently been announced by the IRS. These new limits are effective January 1, 2016. If you are an employee and a retirement plan participant, be sure to contact your employer as soon as possible if you wish to change your retirement plan salary deferrals for 2016. Of course, if […]
On November 2nd, President Obama signed the Bipartisan Budget Act of 2015. Once section of the Act closes two of the most attractive Social Security strategies – commonly referred to as “File and Suspend” and “Claim Now, Claim More Later”. The elimination of these two strategies can potentially have a major impact on your retirement […]
Nobel laureate and M.I.T. professor of economics Robert Merton doesn’t think much of target-date funds. Excerpts from the November 2, 2015 online edition of Advisor Perspectives: Target-date funds are an exceptionally bad way to save for retirement, according to Robert Merton. Merton is a professor of economics at M.I.T. and was awarded the Nobel Prize […]
Social Security expert Mary Beth Franklin answered ten popular questions about Social Security in a recent Investment News article. You can read the entire piece here.
In many retirement plans, a significant amount of a participant’s earnings are lost to fees. The New York Times recently featured an article on the challenges that one retired 401(k) plan participant is facing in his efforts to hold his employer accountable for the costs associated with the plan. Despite a federal requirement that plan […]
Author Mary Beth Franklin recently published an excellent primer on the methodology used for calculating the annual percentage increase in Social Security benefits. In summary, average inflation for the third quarter of the current year – as measured by the Consumer Price Index for Urban Wage Earners (CPI-W) – is compared to the average third […]
Marlena Lee, Vice President at Dimensional Funds, addresses the critical question of how to determine the amount of income you’ll need in retirement. Click here to watch the brief, three minute video.
Most Americans accumulate the bulk of their savings for retirement in employer-sponsored retirement plans, like 401(k) and 403(b) accounts. These plans generally offer retiring employees little flexibility around what to do with their account balances. Yet choices about how to spend a life’s worth of savings are fraught with tricky calculations about financial risk, taxes […]
Marketwatch contributor Mark Hurley recently wrote an article castigating the financial media for producing what he calls misleading lists of the “best” financial advisors. According to Hurley, more than half of firms included in a typical “best wealth managers” list are small, unprofitable and unsustainable organizations that are unlikely to be around for the long […]