Study: Seniors Overconfident in Ability to Identify Financial Abuse

A study from Allianz Life shows that older Americans may be too confident in their ability to detect and stop elder financial abuse. The Safeguarding Our Seniors Study polled more than 2,000 Americans–both potential victims (ages 65+) and their friends/family (ages 40-64)–and found that misconceptions persist about the most likely sources of abuse, and the financial impact on…

 

Implications of Social Security Strategy Changes

  On CNBC.com, Sharon Epperson discusses Congress’ new budget deal that ends “file and suspend” and “restricted application” options for Social Security. However, retirees have a six-month window before these changes go into effect, and not acting before then could have serious financial ramifications. According to the article, making these decisions before they are “could…

 

A Mortal Sin of Retirement Planning: Procrastination

Putting off until tomorrow is jeopardizing many Americans’ retirements. According to a new survey from Bank of America and Merrill Edge, Americans are procrastinating when it comes to saving for retirement, even though the majority had set a 2015 goal of saving for retirement. According to the latest Merrill Edge Report, 59% of the 1,000 respondents…

 

AAII Weekly Features: 16 Financial Ratios for Analyzing a Company’s Strengths and Weaknesses

This week’s AAII Weekly Features highlights these valuable AAII articles: 16 Financial Ratios for Analyzing a Company’s Strengths and Weaknesses Managing Cash Flow in Retirement Quantitative Strategies for Selecting Stocks 18 Recommendations for Minimizing Inheritance Conflict The featured AAII stock screen this week is the InvestWare Quality Growth approach. Our Member Question for this week…

 

Is the Time Right for a Roth IRA Conversion?

According to ThinkAdvisor, the recent market downturn has presented an opportunity for those considering converting to a Roth IRA. Why Convert in a Downturn? The primary reason to consider converting a traditional IRA to a Roth IRA in a market downturn involves the tax savings that such a move can generate. When you convert to a…

 

Is the 4% Rule Broken?

One of the biggest fears retirees, or those nearing retirement, face is that they will outlive their retirement assets. A recent article from Financial Advisor cites research that does little to alleviate those fears. New research shows that Americans retiring in 2015 need to be far more conservative in their withdrawal rates during retirement. The…