Advisors are phenomenally skilled when it comes to investment selection and asset allocation models, but they do not always spend enough time focusing on the psychology of the investor. Developing an understanding of behavioral finance can allow advisors to take an active role in helping clients modify the irrational behaviors that influence their financial decisions.
Financial literacy is positively correlated to retirement planning, and a lack of financial knowledge results in fewer retirement savings, according to research results presented Wednesday by Annamaria Lusardi, the Denit Trust Professor of Economics and Accountancy at the George Washington University School of Business. Lusardi shared the findings during a financial literacy seminar hosted by [...]
With little confidence in their ability to plan for retirement or in their knowledge to navigate through a sea of investment vehicles, middle-income Baby Boomers are in dire need of retirement income advice. Underserved by financial advisors, this untapped market of age 60-plus Boomers earning between $30,000 and $75,000 presents an opportunity for financial planners to provide meaningful retirement planning while expanding their client base.
A new study from the Insured Retirement Institute (IRI) found that retirement confidence shortage is highest among single and middle-income Boomers.
Every calendar year, the Internal Revenue Service and other agencies adjust rates and dollar amount caps pertaining to retirement planning. Please use this guide with your financial advisor to help you plan for 2012. Your financial advisor can also describe any exceptions, such as catch‐up or other provisions for which you may qualify.
More than 60% of 65-Year-Olds Already Collecting Social Security (Westport, CT – April 3, 2012) — Despite the popular belief that Baby Boomers will continue to work well past the traditional retirement age of 65, those born in 1946 are retiring in droves, according to Transitioning into Retirement: The MetLife Study of Baby Boomers at [...]
Retirement Realities Checklist
Retirement is not a static point in time. It is a potentially decades‐long period during which many factors can have a significant impact on your savings and income. To help prepare you to weather these situations, review IRI’s Retirement Realities Checklist with your financial professional, who can structure a long‐term plan to meet your needs.
Eight-Point Plan for Life-Long Financial Health
Most retirement-minded Americans might not see the connection between physical fitness and retirement planning, except for the fact that both can make them sweat! For too many Americans, particularly the 79 million baby boomers, the process of planning for retirement is about as appealing as exercising and getting fit; something achievable but also easy to put off indefinitely.
Top 10 Ways to Prepare for Retirement
To help guide consumers in their retirement planning, the Insured Retirement Institute (IRI) developed the “Top 10 Ways to Prepare for Retirement.”
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