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Opinion: Calling annuities “guaranteed income” ups attraction

The “theoretical attractiveness” of annuities “hasn’t translated to the marketplace,” and one of the key reasons is annuities’ label and its overall marketing, writes John Rekenthaler, vice president of research for Morningstar. He suggests rebranding annuities by calling them “guaranteed income.” Morningstar

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Advisors can help women plan for surprise life events

A panel of four female financial experts discussed how advisors can offer special help to women, who they said are more likely to experience surprise events in life. These events can include job loss, divorce or issues with child care and elder care. Financial Advisor online

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Most baby boomers fear outliving savings, survey finds

Sixty percent of baby boomers surveyed fear they will run out of money in retirement, but advisors can help allay those fears. It’s vital for advisors to create a comprehensive plan for clients’ income and taxes in retirement, says Noble Capital founder Jadon Newman. InsuranceNewsNet online

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Commentary: Avoiding mention of annuities fails clients

Annuities may not be a perfect fit for every client, but advisors are failing to serve their clients and in their own fiduciary duty if they never mention them, says Lance Carlson, Great-West Financial’s head of sales distribution. He notes that annuity products offer simplified compensation structures and competitive withdrawal…

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Report: Social Security trust funds on track to run out of money by 2034

The Social Security trust funds will run out of money by 2034 if no action is taken by lawmakers to remedy the funding shortfall, at which point benefits will be cut by more than 20%, according to the Social Security Administration’s annual report. The program is predicted to run a…

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Commentary: 10 tactless things clients benefit from hearing

Allan Roth of Wealth Logic discusses 10 tactless-but-true things he tells clients that differentiate his firm and add value. These include that he cannot predict the future and asking clients whether it is their “goal to die the richest person in the graveyard.” Financial Planning online

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Fed minutes point to June rate increase

Minutes of the Federal Reserve’s May meeting suggest interest rates are likely to increase in June. “Most participants judged that if incoming information broadly confirmed their current economic outlook, it would likely soon be appropriate … to take another step in removing policy accommodation,” according to the minutes. Reuters

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Senators make bipartisan call for retirement commission

Sens. Todd Young, R-Ind., and Cory Booker, D-N.J., have introduced legislation to create a federal commission to look for ways to improve retirement security for private-sector workers. The commission would consider proposals to help the mobile workforce, and gig and part-time workers, and review policies from other countries, including the…

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Criticism of fixed-indexed annuities misguided, financial planner says

A critic of fixed-indexed annuities argued that buyers are giving up growth when, in fact, they are choosing safety for their invested funds, writes financial planner Stephen Kelley. He discusses the benefits of FIAs and the fallacy of believing “that everything is a choice between the market and some inferior…

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Some savers investing in taxable accounts over retirement plans

Ownership rates for employer-sponsored retirement plans have held steady over the past five years but the amount savers are contributing has dropped 5 percentage points, while taxable brokerage account ownership has risen 10 percentage points, according to Hearts & Wallets data. Roth retirement plans and 529 plans are in demand,…

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