Happy Friday, readers! This week a number of our most popular news articles discussed what Baby Boomers are doing with their money upon hitting retirement. Many are leaving TDFs, research shows. Many are also shying away from purchasing annuities or taking steps to proactively shape a lifetime income plan. Find below a helpful series of additional articles on these challenging topics, aimed at helping clients smoothly transition to a stable retirement.
Among the many informative charts and graphs included in the 2017 J.P. Morgan Asset Management Guide to Retirement are Social Security timing break-even analyses and projected spending for individuals and couples on Medicaid premiums—along with a look at when Roth might work best.
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Those who have an IRA say the three biggest factors that prompted them to open one were help from a financial adviser (40%), education about IRAs (25%), and a simple process to open one (10%).
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When it comes to fiduciary liability insurance, having the broadest possible statement of coverage is generally best; this is because it is a functional test for determining whether any given plan official or company officer is a fiduciary.