Retirement Readiness Shows Signs of Waning

While the retirement systems in the United States, the United Kingdom, and Australia differ in important ways, all are falling short to varying degrees in ensuring that workers in those countries are adequately preparing for retirement, according to an article published by human resources consultancy Findley Davies in its November/December 2017 newsletter. Retirement Readiness The article, “Retirement Readiness—How Do We Compare?” was written by Ken Hohman, an actuary and management consultant. Hohman presented a comparison of the retirement systems in these three countries based on his involvement on behalf of the American Academy of Actuaries with a project in collaboration with the Actuaries Institute in Australia and the Institute and Faculty of Actuaries in the UK. Hohman observed that Australia, the UK, and the U.S. have similar but significantly different retirement systems. Specifically, he explained, each country has a national social security system that is weighted in favor of lower-income …


Dollar Cost Averaging Creating Good Money Behavior

The increase in volatility to start 2018, coupled with the almost 9-year bull market run has caused many sophisticated investors to question when to buy and when to sell. So, it’s important to remember that there is a very simple investment strategy that doesn’t require you to stare at trading screens all day – Dollar-Cost-Averaging. It isn’t new and exciting, but many a successful investor has proven its worth. The principal behind it is this: You put the same amount of money into the same investment on the same day each month. Those months when the investment’s price goes up, your set amount does not buy as many shares. But when the investment‘s price dips, you get to buy more shares at a cheaper price. Guess what? When the price goes back up, all those shares you bought cheaply make you some money. Those shares you bought when the price …


10 Timeless Financial Tips

Advice on how to save, manage, invest and spend money from Knight Kiplinger, the editor in chief of Kiplinger’s Personal Finance.

What is Keeping Financial Advisors Up at Night? A 2018 Outlook

Last month, I recapped our growth in 2017, which we followed with a press release detailing what topics and trends our readers were interested in throughout the year. In the release, we noted that financial advisors are the fastest growing audience on Harvest. This group now accounts for nearly 70,000 monthly active users, over 300% more than a year prior. According to our data, two trending topics that stood out to advisors on our platform were “robo” platforms and practice management. To me, this suggests that advisors have been reconciling not only with how best to manage client portfolios, but also simultaneously trying to justify their existence. One month into the new year, here is how I see these trends playing out for the remainder of 2018: Robo-Advisors Robo-advisors are projected to manage $385 billion of client assets by 2021, according to Cerulli Associates. Betterment, Personal Capital, and Wealthfront were the pioneers …


FINRA Rules Take Effect to Protect Seniors & Vulnerable Adults from Exploitation

Financial abuse of seniors is devastating to those who should be enjoying their golden years. A 2015 report by True Link Financial says seniors lose more than $36 billion a year to financial abuse, and the financial industry has been looking for ways to address the privacy and safety concerns of older investors. The Financial Industry Regulatory Authority, a self-governing private body, issued a rule to help that went into effect in early February. “The bottom line for this new rule is to install safeguards to either prevent potential financial exploitation or stop ongoing exploitation of impaired seniors,” says Clifford Caplan, a certified financial planner at Neponset Valley Financial Partners. With widespread reports of huge amounts of funds being siphoned off from unsuspecting investors’ accounts, FINRA has finally stepped in establish a mechanism and procedure to stop this abuse, he says. Here’s what you need to know about the new …