Retirement

Retirement (135)

401(k) Account Balances Hit Record High

The average 401(k) plan balance is $91,800, up 3.6% from last year, according to a study by Fidelity Investments. So reports Money.

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4% Retirement Withdraw Rate Only Works for Wealthy

For most retirees, following the rule of thumb that calls for funding living expenses by withdrawing 4% of assets each year will result in running out of money in later years. So reports NBCNews.

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Advisors Embrace Risky Assets for Retirement Income

Dividend-paying stocks and mutual funds were the most common sources for generating retirement income last year by advisors as low interest rates made fixed-income investments and annuities less attractive. So reports WealthManagement.com.

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Lack of Knowledge Prevents Wider Use of IRAs

Less than one out of every five respondents to two recent surveys say they haven’t contributed to an individual retirement account IRA), with a lack of understanding of the products being the most common reason for the poor utilization. So reports Financial Advisor.

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Retirees Building Home Offices, But Content with Homes

The most common home renovation projects for retirees is construction of a home office. So reports benefitspro.

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Retirement Deficit Climbs to $4.13 Trillion

In total, Americans between the ages of 25 to 64 are collectively $4.13 trillion short of having adequate savings for retirement, according to a recent study by the Employee Benefit Retirement Institute. So reports The New York Post.

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Retirees Overlook Annuities for Lifetime Income

In a recent study by TIAA-CREF, 84% of Americans say it’s important to have guaranteed income in retirement, but only 14% of survey respondents say they have purchased an annuity. So reports insurancenewsnet.com.

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Gen Xers Making Same Mistakes as Baby Boomers

Gen Xers are making many of the same financial mistakes made by Baby Boomers, but they lack the benefits of a strong job market and receiving large inheritances from the World War II generation. So reports Daily Finance.

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Social Security Cuts May Boost Gen Xers’ Retirement Savings Needs

Potential cuts to Social Security benefits could require Gen Xers to save an additional $27,000 to $79,000 to prepare for retirement, according to Employee Benefit Research Institute Research Director Jack VanDerhei. So reports Financial Advisor.

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Retirement Services Help LPL & Merrill Lynch

Advisor John Carroll, who was formerly a financial advisor at Merrill Lynch, is moving his $130 million practice to an LPL affiliate in large part because of the retirement plan services offered by the firm. So reports Financial Planning. LPL affiliates Financial Partners and Pensionmark Retirement Group provide a high level of services along with technological and operational support, maintains Alexandria, La.-based Carroll.

Read the full article from Financial Planning.  

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