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    Don’t Wait to Reach Out & Help Your Clients Understand the Banking Crisis

    posted in Client Relationships, Retirement Planning Mar 23, 2023

    The recent collapses of Silvergate, Silicon Valley Bank and Signature Bank, and the federal government’s measures to protect depositors, have attracted investors’ attention—including those with portfolios intended as a source of retirement income.

    Most Americans recall the fear, uncertainty and losses of the Great Recession, so there’s plenty of worry to go around.

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    The Impact of Student Debt on Your Client’s Financial Future

    posted in Retirement Planning Mar 21, 2023

    On. Off. On. Then off again… The student loan debt relief plan proposed by the Biden administration has had a difficult time getting off the ground. Courts blocked the proposed plan that would have forgiven up to $20,000 in student debt for qualified recipients. The issue is tied up in litigation, leaving many with student loans in limbo.1

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    How Financial Views & Worries Are Affected by Ethnicity: New Study

    posted in Client Relationships Mar 14, 2023

    Many individuals struggle with conversations about the differences in lived experiences among people of varying racial and ethnic groups. 

    Acknowledging differences can be challenging on many levels — and yet, recognizing diverse experiences, attitudes and concerns can serve as a critical first step toward delivering more equitable client service and helping more individuals and families improve their financial wellbeing and meet their unique goals.

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    Remember These 3 Employer Retirement Plan Rollover Opportunities

    posted in Retirement Planning Mar 7, 2023

    There are several reasons for clients to consider a rollover from an employer retirement plan to something else, such as an IRA, at retirement — and in some cases even earlier. Whether it’s in response to a volatile market or simply wanting to make adjustments and leverage new opportunities, the appeal of a rollover is real.

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    Is the “4% Rule” Foolproof — Or Is It Smart to Take a Second Look?

    posted in Retirement Planning Mar 6, 2023

    Financial professionals occasionally lean on rules of thumb as general guidelines for retirement income planning. And just like any other shortcut, rules of thumb such as the commonly cited “four percent rule” have both advantages and shortcomings.

    Among the rule’s advantages? For one thing, 4% is easy to remember, and it’s simple. In short, the rule recommends a 4% first-time annual retirement savings withdrawal. Every year thereafter, the investor would adjust for inflation over a 30-year retirement.

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    Financial Considerations For Multigenerational Households

    posted in Advanced Planning Feb 28, 2023

    Growing student debt, climbing rent, rising inflation, stagnant wages…these and other financial strains may be making it harder for younger generations to get by and make it on their own. 

    Perhaps that’s why record numbers of young adults are moving in with their parents. The number of U.S. adults ages 25 to 34 who live in a multigenerational family household has nearly tripled in the last 50 years. Only 9% of people in that age group lived “at home” in 1971 compared to 25% in 2021, according to Pew Research Center.1

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    When an Employer Stops Contributing to a 401(k): 5 Ways for Investors to Respond

    posted in Advanced Planning Feb 21, 2023

    Many advisors rely heavily on the concept of the employer 401(k) match as “free money,” motivating investors to take advantage of this retirement savings vehicle. But when times are tough, as they’ve been for the last few years while we’ve dealt with the pandemic and its reshaping of the world, some employers might adjust their policies and either reduce or outright cut their contributions to the workplace 401(k).

    Potential eliminations or reductions in company matches only underscore the importance of careful retirement planning and place increased responsibility on the individual to save.

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    3 Approaches to Help Clients Leverage Risk Control

    posted in Retirement Planning Feb 14, 2023

    Will a full-fledged economic recession come to pass? It is yet to be seen. No matter what lies ahead, clients who are nearing retirement generally have more to lose and might not want to take any chances with their nest eggs. Economic downturns as one nears or enters retirement can be a major concern. 

    Perhaps your clients are watching rising interest rates and inflation or are feeling uneasy about global uncertainties and political issues. Let’s not forget market volatility and the cryptocurrency debacle. 

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    Client Conversations About the SECURE 2.0 Act

    posted in Advanced Planning Feb 7, 2023

    On Thursday, December 29, 2022, President Biden signed into law the “Consolidated Appropriations Act, 2023.”1 Included in this act is SECURE 2.0 which will have implications for financial advisors and their clients.

    What are the main points you and your clients need to know? Here, we’ll briefly summarize a few features you may wish to include in your upcoming conversations.

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    5 Social Security Facts Women Need To Know

    posted in Retirement Planning Jan 31, 2023

    Social Security benefits are a popular topic of discussion — will they be available? What percentage? How long? For whom?

    What is sometimes not discussed as it relates to Social Security, however, are the differences between men and women. Women might not fully understand how the decisions they make about Social Security could have negative consequences when it comes to their long-term financial security. Women represent more than half of all Social Security beneficiaries age 62 and older and nearly two-thirds of all beneficiaries over the age of 85, presenting a greater need for understanding.1

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