Market Insights: Investing

Retirement Planning: 3 Truths Younger Workers Need to Know

  1. Retirement isn’t often a choice

  2. Retirement isn’t a bargain

  3. The longer you wait to start saving for retirement, the worse financial shape you’ll be in

Read more

5 Facts You Might Not Know About Social Security

  1. Social Security pays benefits to children.

  2. Social Security can pay benefits to parents

  3. Widows’ and widowers’ payments can continue if remarriage occurs after age 60

Read more

Details Emerge on Troubles at Wells Fargo Wealth Unit

  • Two whistleblower letters cited sales goals that led employees to push products with more fees

  • Financial advisors encouraged investors to move funds into products in order to generate extra fees, more revenue and larger bonuses

Read more

If You're Worried about Social Security, Do These 4 Things Instead

  • Social Security is facing an impending revenue shortage that will cause it to most likely deplete its trust funds by 2034 and will only manage to pay about 79% of its scheduled benefits unless Congress steps in and comes up with a fix

  • If you're an older worker who's concerned about Social Security, you may want to

    • Build a Stronger Nest Egg
    • Work Longer
    • Plan to Work Part-time as a Senior
    • Reduce Your Senior Living Costs
Read more

House Panel Passes Social Security Online Tools Act

The bill requires the Social Security commissioner to make publicly available online tools allowing individuals that are eligible for disability benefits “to assess the impact of earnings on the individual’s eligibility for, and amount of, benefits received through federal and state benefit programs.”

Read more

Trump Creates Task Force to Police Elder, Cyber Frauds

  • The Trump administration task force will build on the task force set up “in the wake of the financial crisis” under the Obama administration, “which is now a decade passed and [which] focused on specific financial crimes and frauds.” – Acting Associate Attorney General Jesse Panuccio

  • The task force “is a broader effort looking at other areas of consumer fraud and market integrity, such as elder fraud and the growing problem of cybercrime.” - Panuccio

  • Cyber threats “present some of the greatest risks confronting today’s financial markets,” with bad actors using “new technology to perpetrate old frauds, including securities offering frauds.” – SEC Chairman Jay Clayton

Read more

SEC Fines Morgan Stanley $3.6M for Failing to Protect Client Funds

  • The SEC finds that they failed to have reasonably designed policies and procedures in place to prevent its advisory representatives from misusing or misappropriating funds from client accounts.

  • Approximately $7 million was misused or misappropriated out of 4 advisory clients’ accounts in approximately 110 unauthorized transactions occurring over a period of nearly a year.
Read more

Wells Fargo Agrees to $5M SEC Settlement

  • The SEC found that Wells Fargo “generated large fees by improperly encouraging retail customers to actively trade the products.”

  • The SEC concluded that the bank’s representatives “did not reasonably investigate or understand the significant costs of the recommendations.”

  • “It is important that brokers do their homework before they recommend that their retail customers buy or sell complex structured products” – Daniel Michael, Chief of SEC Enforcement Division’s Complex Financial Instruments Unit

 

How the Social Security COLA Fails Seniors

  • According to The Senior Citizens League, Social Security benefits lost 34% of their buying power between 2000 and 2018

  • "When costs climb more rapidly than benefits, retirees must spend down retirement savings more quickly than expected and those without savings or other retirement income are either going into debt, or going without" – Johnson, Social Security policy analyst

  • “For every $100 worth of groceries a retiree household could afford in 2000 they can only buy $66 worth today.” - Johnson

Read more

Now All Investors, Pre-Retirees and Retirees, Unfortunately, Will Be Taken to the Proverbial Woodshed by So-Called Advisors

  • 5th Circuit Issues Order to Kill DOL Fiduciary Rule

  • Is your wealth safe? CLICK HERE to learn more!

Read more

Pages