Wealth Management
Top stories summarized by our editors
2/16/2018

While research points to good saving habits among millennials, a survey by Allianz Life Insurance Co. of North America shows 88% of respondents think social media creates a tendency to compare their lifestyles with others, and 57% say it has influenced them to spend money they had not planned to. "While every generation has experienced a need to 'keep up with the Joneses,' social media seems to have helped take it to a new level for millennials," Allianz's Paul Kelash says.

2/16/2018

Money-management firm Manning & Napier has created updated reference guides highlighting what people need to know about Social Security, Medicare, long-term care planning and taxes in 2018.

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PlanSponsor online
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Medicare, Manning & Napier
2/16/2018

Financial professionals should take the time to explain annuities to clients, even those who are knowledgeable about financial matters, and dispel commonly held myths about the products, said Dan Keady, chief financial planning strategist for TIAA. "Financial advisors are immersed in this information all the time, maybe for years, and they may forget that not all of their clients understand the nuances of financial products," he said.

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TIAA
2/16/2018

CBS executives said in an earnings conference call that the company has purchased an annuity to assume some of its pension liabilities. The company reported a $352 million one-time accounting charge for the purchase.

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CBS
2/16/2018

DowDuPont said in a securities filing that it bought a group annuity to move some of its pension liabilities off its balance sheet. The company paid $230 million for the group annuity, according to the filing.

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DowDuPont
2/16/2018

A study from the National Bureau of Economic Research explores the link between the interest-rate environment and people's attitudes toward saving, investing and retirement. Among their key findings, the authors state people generally save less in a persistently low-rate environment, and workers claim Social Security later but draw down their 401(k) accounts sooner.

2/16/2018

In this paper, Greg Geisler and David Hulse review and extend an analysis of tax-efficient withdrawal strategies. Among other things, they highlight the impact of required minimum distributions and Social Security benefits.

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Greg Geisler
2/16/2018

A little discomfort can be a good thing, because you may not reach peak performance if you stay in your comfort zone, writes Daniel Finley, president and co-founder of Advisor Solutions. Complacency can be a problem, so you want to operate in a "constant state of forward movement," he writes.

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Daniel Finley
2/16/2018

Health care challenges are a concern for many clients, so advisers who can provide guidance in this area may be able to differentiate themselves from the competition. One way to accomplish this is by partnering with a health care advisory firm.

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WealthManagement
2/15/2018

Some people cash out their 401(k)s when changing jobs, which can trigger early-withdrawal penalties and can hurt retirement preparedness. Approximately 22% of participants in defined-contribution plans change jobs each year, according to the Employee Benefit Research Institute.

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Workforce online