National Retirement Planning Week® 2017, a national effort to help consumers focus on their financial needs in retirement, will run from April 3-7. The National Retirement Planning Coalition (NRPC), a group of prominent education, consumer advocacy and financial services organizations led by the Insured Retirement Institute (IRI), will support the movement with a number of coalition activities throughout the week.
The goal is to promote the importance of comprehensive retirement planning. Despite developing trends that have made planning for and funding retirement more difficult – it is still possible to “Retire On Your Terms” if comprehensive retirement plans are properly developed and managed.
Provide your support and take action during #NRPW 2017.
Check out more:
____________________
Materials available on the websites for the Insured Retirement Institute (IRI) and Retireonyourterms.org and within the National Retirement Planning Week® campaign may not be compliance-approved. AAAE, IRI and the National Retirement Planning Coalition are not affiliated.
Congratulations to our employees celebrating March work anniversaries!
It should come as no surprise to anyone that I have met and spoken with a whole lot of financial professionals (FPs) over the last 15 years. After all, that is our business at Ann Arbor Annuity Exchange (AAAE). If you look at many of our top FPs, they often have a common thread that unites them. Many of them began in this business years ago and were trained to sell under a career/captive model, and then at some point left that company to strike out on their own as an independent producer. With some simple math, you can calculate that these FPs got their start in the business in the 1980s, which puts them in their late 50s to early 60s.
When it comes to preparing for retirement, many individuals have a financial strategy that includes some sort of qualified plan such as a 401(k) or a traditional individual retirement account (IRA). These tax-incented retirement vehicles typically accumulate on a tax-deferred basis, and distributions are generally taxed as ordinary income. These retirement vehicles often have other restrictions such as a 10% penalty on distributions before 59½ years of age, as well as required minimum distributions (RMDs). RMDs require the client, upon reaching age 70½, to take distributions from qualified accounts in accordance with minimum distribution requirements established by IRS regulations.
Meeting Your First RMD Deadline
By Kimberly Lankford
(Kiplinger)
____________________
AAAE does not provide tax or legal advice. You are encouraged to consult your tax advisor or attorney.
Labor secretary nominee Acosta will follow Trump's direction on DOL fiduciary rule
By Meaghan Kilroy
(InvestmentNews)
____________________
Article may require (free) site registration to view. Contact AAAE for a copy if unable to access.
5 Ways To Stop Senior Fraud
Texas Department of Insurance
Most of us have heard of elder financial abuse and its significance in threatening our aging population. But how many of us really know what it is? The black-and-white cases are usually easy to identify, but what about the situations that are not so clear-cut? A situation can easily go from routine family dynamics (grown children living at home) to more complicated (grown children living at home and accessing a parent’s funds for their personal expenses), to even more questionable (grown children using a parent’s funds for non-essential items without the parent’s consent or knowledge). As a financial professional, how can you identify elder financial abuse?
Many of your clients look to you to keep track of important financial information and changes that they are unable to keep up on or prefer not to keep track of on their own. There are many ways that you can use your access to the 2017 Tax Reference Guide to build and strengthen relationships with new or current clients.
I often read, hear, and see our industry focusing on trying to find the magic potion for lead generation and getting new clients. It has always made me wonder: what’s wrong with the clients you’ve got??
DOL issues bulletin to ease confusion over near-term fiduciary rule compliance
By Greg Iacurci
(InvestmentNews)
____________________
Article may require (free) site registration to view. Contact AAAE for a copy if unable to access.
By James Morris, Questar Branch Office Designated Supervisory Principal at Ann Arbor Annuity Exchange
Transaction-based or relationship-based? That is the question. Recently, “transactional” has become a euphemism for commission-based. On the other hand, “relational” is associated with a fee-based business model where the customer and the financial professional (FP) negotiate a fee, based on asset value and service provided. Although in either scenario a long-term relationship likely exists with a customer, a customer’s decision concerning account structure based on commissions rather than fees is an important discussion.
____________________
Materials available on the Life Happens website may not be compliance-approved. AAAE & Life Happens are not affiliated.
Women are household CFOs, but barriers remain at work
By Daniel Williams
(LifeHealthPro)
____________________
Article may require (free) site registration to view. Contact AAAE for a copy if unable to access.
Will you #BeBoldForChange and challenge stereotypes? Commit to action now at http://bit.ly/2m2uq4G
#IWD2017
