Putting Your (Charitable) Money Where Your Market Is
In recent years, the spotlight has shined brightly on issues surrounding corporate social responsibility (CSR), and the extent to which firms’ business practices contribute to the well-being of the local and global communities they serve. Charitable giving also falls under the CSR umbrella, of course, but philanthropy has received comparatively little attention from researchers and media relative to the overarching focus on firms’ sustainability efforts, their level of environmental impact, and the question of whether CSR pays off for the bottom line.
If you’re reading this story, there’s a good chance you don’t have a will or you don’t have one that’s up to date. That’s because nearly three-quarters of Americans fit this description: 63% do not have a will at all, and another 9% have a will that is out of date, according to a Google Consumer survey by USLegalWills.com.
It’s not just young people without a lot of assets. Among seniors age 65 and older, only half have up-to-date wills in place, the survey found.
Brexit could mean it’s time for you to buy an apartment or refinance
After Britain voted to leave the European Union on Thursday, there was an immediate reaction in financial markets across the globe. Markets in the U.K. took a nose dive before the tally was even finalized, reports the New York Times, with economists warning of the potential of significant damage to the British economy. Peter Wetherell, chief executive of London-based brokerage Wetherell, said in a statement that “we are seeing massive shock and turmoil across all markets… financial markets will have to adjust to a ‘new normal’.”
Meanwhile, American financial analysts are trying to forecast how the shock waves may land stateside. Bankrate, for instance, predicts in its investing blog that one area in which we’ll see a significant response is mortgage interest rates. Given that the values of the British pound and the Euro have already decreased against the U.S. dollar, mortgage rates are expected to decline as well.
How Will ‘Brexit’ Affect 401(K) Participant Savings?
It appears the best way to describe the “Brexit” fallout one day after the historic vote, in which Britain chose to leave the European Union, is with the decidedly English phrase, “Tempest in a teapot.”
While short-term effects will undoubtedly be felt, including within 401(k) accounts, general consensus is that rebounds will be quick and long-term markets strong.
Advice from Brexit watchers, whether for institutional or retail 401(k) investors, is to stay the course throughout the storm, however small it might be.
How The DOL’s Fiduciary Rule Will Impact Your Retirement Accounts
Last week the Senate voted 56 to 41 to repeal the Department of Labor’s (DOL) new fiduciary rule. However, while serving out the rest of his term in office, President Obama vowed to veto any legislation dismantling the new regulation.
The fiduciary rule redefines who is now a fiduciary and further clarifies the distinction between “education” and “advice.” It’s important now for retirement plan participants and Individual Retirement Accounts (IRAs) holders to understand the relationship changes with their advisors, as the regulation impacts advice about a 401(k) and IRA rollover or distribution.
The U.S. healthcare market is in the midst of unprecedented changes. Major payors, health systems, and other providers are consolidating in megadeals aimed at generating scale and wringing inefficiencies out of the system. Consumers are increasingly employing the growing array of digital apps, wearables, and other technology in order to play a more direct role in their own care. And extensive government reforms are changing the way care is delivered, assessed, and paid for. In this context, management teams may have difficulty making strategic plans for next month, let alone next year.
Every day in the United States more than 10,000 people turn 65. For decades this was the typical retirement age. Starting in their early fifties, but certainly by age 70, people were expected to end their careers and embrace a life of leisure. But in the past 20 years, that paradigm has shifted dramatically. Half of today’s 60-year-olds will live to at least age 90, according to Lynda Gratton and Andrew Scott, the authors of The 100-Year Life, which draws on the research of demographers Jim Oeppen and James Vaupel. Meanwhile, the era of corporate and government pension plans that promised lifetime financial security is over. For this and other reasons, many executives are now rethinking what it means to retire.