Category: Financial -Landing 2013

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3/1/2013 -- Earlier is better when learning about money (Chicago Tribune)

by on March 4, 2013 6:15 pm
Financial literacy is important for making smart decisions about money. But increasingly, research shows the earlier you start learning the topic — preferably before you graduate high school — the better. A paper from the Wharton School of the University of Pennsylvania, recently revised and submitted to an academic journal, found that even when it… Read more 3/1/2013 -- Earlier is better when learning about money (Chicago Tribune)

2/27/2013 - Millennial Meltdown: Boomers Are More Entrepreneurial Than Their Kids, Says Study (Forbes)

by on February 28, 2013 9:30 pm
Entrepreneurs like Facebook’s Mark Zuckerberg and Tumblr’s David Karp are certainly rare, as evidenced by the fortunes they’ve amassed before age 30. They may be getting even rarer, if a new study by Monster.com and Millennial Branding is any indication. According to the report, Zuckerberg and Karp’s generation is the least entrepreneurial cohort in the… Read more 2/27/2013 - Millennial Meltdown: Boomers Are More Entrepreneurial Than Their Kids, Says Study (Forbes)

2/26/2013 - Boomer divorce: A costly retirement roadblock (USA Today)

by on February 28, 2013 9:28 pm
Baby Boomers are divorcing at a surprising rate, and that will have huge implications for their lives in retirement. The number of divorces among people 50 or older doubled from 1990 to 2010. And in that year, one in four U.S. divorces was in that age group. And while the experts say it’s a product… Read more 2/26/2013 - Boomer divorce: A costly retirement roadblock (USA Today)

2/26/2013 - More boomers buying ‘longevity’ annuities (The Wall Street Journal)

by on February 28, 2013 9:27 pm
Economists and policymakers in recent years have begun encouraging pension-deprived Baby Boomers to consider relatively new products known as longevity insurance or “deferred income” annuities, designed to restore some financial security to what are supposed to be their golden years. News today from New York Life Insurance Co. confirms that the products are starting to catch… Read more 2/26/2013 - More boomers buying ‘longevity’ annuities (The Wall Street Journal)
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2/25/13 - Capping Top Earners' 401(k) Benefits Seen as Cost Cutter (Bloomberg)

by on February 25, 2013 6:08 pm
Pressure is growing to change incentives for retirement savings as U.S. lawmakers look for revenue, and top earners may pay the price. The budget challenges confronting the federal government are leading to scrutiny of tax-advantaged savings accounts such as 401(k)s because they’re among the costliest tax breaks. A Brookings Institution report scheduled for release tomorrow… Read more 2/25/13 - Capping Top Earners' 401(k) Benefits Seen as Cost Cutter (Bloomberg)
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2/24/13 - Monthly retirement assays gain ground (Pittsburgh Post-Gazette)

by on February 25, 2013 6:06 pm
To help workers get a better idea of whether they are saving enough for retirement, more employers are going beyond the one number that workers with 401(k) plans focus on: how much money is in their account at the end of the latest quarter. A growing number of employers are using the account balance to… Read more 2/24/13 - Monthly retirement assays gain ground (Pittsburgh Post-Gazette)
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2/22/13 - Social Media a Financial Education Source for Many (Plansponsor)

by on February 25, 2013 6:05 pm
One-quarter (26%) of U.S. adults use social media for personal finance and investing purposes, according to Cogent research. This rises to 34% for affluent investors. While most investors continue to rely on a variety of resources for investment information, nearly 70% have reallocated investments, or began or altered relationships with investment providers, based on content… Read more 2/22/13 - Social Media a Financial Education Source for Many (Plansponsor)

2/21/2013 - Two-fifths of elderly spend more than they earn, study finds (LA Times)

by on February 21, 2013 6:53 pm
Two-fifths of the elderly spend more than they earn, often forcing them to dip into savings to pay bills, according to a new study. Among those 65 and older, 40% shell out more on housing, medical care and other costs than they take in from Social Security, pensions and other sources, according to the Employee… Read more 2/21/2013 - Two-fifths of elderly spend more than they earn, study finds (LA Times)

2/20/2013 -Yes, boomers: Jobs are less demanding (Wall Street Journal)

by on February 21, 2013 6:51 pm
My standard argument is that retirement needs are increasing as people live longer and face rapidly rising health care costs.  At the same time, the retirement income system is contracting as Social Security replacement rates decline even under current law, employer-sponsored plans move from defined benefit to defined contribution with modest benefits, and people save… Read more 2/20/2013 -Yes, boomers: Jobs are less demanding (Wall Street Journal)

2/20/2013 - Reforms Needed to Reduce IRA Fees (Plan Sponsor)

by on February 21, 2013 6:50 pm
A research paper contends that additional reform is needed to protect participants who roll over retirement plan assets into individual retirement accounts (IRAs) from high investment fees. Read the full article at Plan Sponsor.