It seems that insurance companies are unhappy about their profit margins and risks in sales of variable annuities. To compensate, they are offering new “simplified” products. Unfortunately, these new annuity products have two characteristics that make them even less attractive to purchasers. Rates have increased and benefits have been watered down. According to this article [...] Read more »
Archive for the ‘Retirement Income’ Category
Turning Savings into Retirement Income
WednesdayOct 21,2009
A Money Magazine reader recently submitted this question to Walter Updegrave, a senior editor and well known personal finance writer: The 4% rule seems to have become the conventional wisdom for drawing money from your savings in retirement. But I believe the rule is flawed. I think it might make more sense to choose a [...] Read more »
Baby Boomers to Financial Advisers: We Need Income not Wealth
SaturdayOct 10,2009
According to this article, financial advisers and wealth managers are realizing that they are in the early stages of a huge paradigm shift. Baby boomers are less concerned about growing their retirement nest egg and more concerned about preserving what they have. More particularly, they want to be told what they can do to avoid [...] Read more »
Searching for New Retirement Income Products
WednesdayOct 7,2009
I read an interesting opinion piece today from the Retirement Income Industry Association. The author was noting how industry members thought only about the products they offer themselves to provide retirement income. Mutual fund companies think that their funds are the way to satisfy the need for retirement income. Insurance companies on the other hand [...] Read more »
The Fear of Inadequate Retirement Income
TuesdaySep 22,2009
The Principal Financial Group conducts regular financial surveys of working adults and retirees to arrive at a “Well-Being Index.” The surveys are conducted quarterly and the results are then published for general distribution. The Well-Being Survey for the third quarter of 2009 was recently published and covers responses received between July 30 and August 11, [...] Read more »