The study, which surveyed more than 1,000 Americans between the ages of 45 and 65, found that 54% of respondents are considering “a guaranteed lifetime income product that pays out like a pension.” This trend held among all income brackets, with the greatest interest among minority communities, including Black and Hispanic respondents and those who identified as "other." The survey also found that 91% of respondents would prefer to work with a financial professional who offers products and services that meet their needs.
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If you are concerned about diversifying your clients' income during retirement and are searching for strategies to protect against potential increases in taxes and inflation, then join the next Advisor Today webinar on Thursday, June 22 at 2 pm eastern with Allianz.
At "Decumulation Diversification," Schyler Adams, Director of Advanced Strategies & Planning Platforms will reveal concepts and innovative approaches to secure your clients' financial future. Don't miss this opportunity to optimize retirement income and help your clients achieve long-term financial stability.
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SECURE 2.0 is here, but what does that mean for your clients' retirement and estate planning? On Tuesday, May 9, from 12 pm to 3 pm eastern, join NAIFA and the Society of Financial Service Professionals for an Advanced Practice Center live virtual event, as three industry experts discuss the impact of SECURE 2.0, what it means for your clients, and why now is the best time to prepare.
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Here are three ways people 62 and older (working in tandem with their advisors) can incorporate reverse mortgages into sound retirement plans to potentially improve retirement outcomes.
When it comes to making savings last over a lengthy retirement period, retirees have no shortage of obstacles to contend with: soaring inflation, longer life expectancy, volatile markets, exuberant long-term care costs — the list goes on and on.
Reverse mortgages can help solve many challenges in retirement. But too often the strategic use of home wealth, and consequently reverse mortgages, is something older-adult homeowners and their advisors fail to consider. Two big reasons why reverse mortgages are often omitted from the retirement-income planning conversation are outdated misconceptions and enduring perceptions about how reverse mortgages work and how they are best used. And that’s unfortunate because today’s reverse mortgages have some powerful features — along with recently enhanced consumer protections — that can make them a valuable and effective tool in retirement planning.
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Join us on July 8, 2022, at 11 am eastern for the webinar "Retirement Risks in a Post-COVID World."
Financial services speaker and bestselling author Joseph Jordan will identify the challenges facing the insurance and financial services industry after the COVID-19 pandemic ends and address the six retirement risks consumers should consider:
- Longevity – Risk of Outliving Assets
- Market and Interest Rate Risk
- Withdrawal Rate Risk
- Sequence of Return Risk
- Purchasing Power/Inflation Risk
- Health Risks
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Few things in life will affect the post-employment life of your older-adult clients as much as their home and their cash flow. This article from Fairway Independent Mortgage Corporation is intended for an audience of financial professionals who are committed to improving the quality of life of older-adult Americans.
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New research from LIMRA and Life Happens, almost a quarter of Americans say they would dip into their retirement savings if they experienced a disability. But between tax penalties and loss of the opportunity for compounding interest, an early withdrawal can do more harm than good.
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Loyal NAIFA-CA member Louis H. Brownstone, CLTC, proposes a new solution for long-term care insurance planning in a recent Broker World article. Brownstone is the owner of California Long Term Care Insurance. A NAIFA member since 2007, he is the Government Relations/APIC IFAPAC Chair for NAIFA-San Francisco Peninsula and a NAIFA Financial Security Advocate.
Congratulations, Louis. We're #NAIFAproud of your commitment and dedication to our industry.
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Join us on March 17, 2022, at 2 pm eastern for the special webinar "Designing Insurance Solutions to Address Clients’ Macroeconomic Concerns."
The discussion will feature John C. Snider II, JD, AVP and Associate Counsel with the Advanced Markets Group at John Hancock. Snider will discuss inflation, rising interest rates, geopolitical instability, and other economic factors that affect Main Street Americans.
Don’t miss this opportunity to learn how to help your clients find the right life insurance for their unique situation and how to plan for their long-term care needs.
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It’s easy to lose focus on interest rates when you’re helping your client search for a reverse mortgage loan.
After all, the interest rate won’t affect the monthly payment because they won’t have to make one (though they will need to pay taxes and insurance and maintain the home).
Reverse loans don’t require monthly payments, as the full balance comes due when the last borrower dies or leaves the home.
But reverse mortgage interest rates are still a big deal and should factor into your clients' borrowing decisions. The interest rate will make a huge difference when the balance comes due and your client or their heirs must decide what to do with the home.