Thursday, May 28, 2015

Boomer Confidence Hits 5-Year Low

The Insured Retirement Institute has found that in this fifth year of its survey, only 27% of boomers are confident that their savings will see them through retirement. In 2011, nearly 40% felt that way.

44% expect that their financial situation will improve over the next five years. That’s an increase from last year, when just 32% thought they could see light at the end of the tunnel.

But that optimism could be misplaced. The report also found that, in the past year, almost a quarter of boomers had problems making rent or mortgage payments, and 19% gave up contributing to a retirement account.

Source: Insured Retirement Institute, 

Wednesday, May 27, 2015

IRA rollover runs aground ...

A taxpayer wanted to buy an investment property and place it in his self-directed IRA. To ensure everything was done correctly, he hired a CPA, a lawyer, a financial advisor and a realtor to help with the transaction. But even with this team in place, the attempted rollover failed three different IRA rules …

Friday, May 22, 2015

Thursday, May 21, 2015

Supreme Court’s Ruling Could Boost Your Nest Egg

A unanimous Supreme Court ruled on Monday that employers can be sued if they fail in their “continuing duty to monitor” mutual funds in 401(k) accounts for unnecessarily high fees.

The decision, which specifically addressed high-fee mutual funds, expands the responsibility of plan administrators to offer competitively priced mutual funds and other financial products to their workers.

That move could boost the total return for millions of employees by tens-of-thousands of dollars over their working lifetime. 

Wednesday, May 20, 2015

Americans Are Stressed Out

86% of Americans experience stress when it comes to their finances

89% of women say the same

91% of those ages 18 to 44 agree

The leading causes of stress:

23% debt

21% everyday expenses

14% health expenses

13% retirement

Source: Certified Financial Planner Board of Standards, Inc. 

Tuesday, May 19, 2015

Incoming …

Dec. 31, 2029:
  • The last of the boomers will turn 65
  • The 65+ population segment is projected to double to 71.5 million by 2030 and grow to 86.7 million by 2050
  • Possibly more than 80 million will be on Medicare and Social Security