Financial planning

“Being able to afford health care and the support I need in my old age,” had 26% of respondents “highly worried,” the most common response in a new survey from UBS Wealth Management Americas.

As Congress pushes the debt ceiling debate farther down the road, Americans’ personal finances are worse than ever. According to a new survey by the Personal Finance Employee Education Foundation, only 24% of respondents say they have “little financial stress.” That leaves 76% who would likely benefit from a financial education plan at work. According to PFEEF, a workplace financial fitness program can not only improve productivity, but also boost morale and company loyalty.

‘Financial planning’ and ‘retirement income’ are both snooze-inducing phrases for potential investors, according to Russell Investments. The firm recommends talking instead about sustainable ‘lifestyle design.’

According to HelloWallet, more than $70 billion a year is withdrawn from 401(k)-style retirement plans, most of it used to cover basic financial needs and money management.

George Castineiras, senior vice president of total retirement solutions at Prudential, says with 10,000 baby boomers turning 65 for every day for the next 16 years, it’s an exciting time to watch the “money in motion.”

“The consumer demand for income annuities has grown steadily during the past two years as consumers seek to generate a guaranteed stream of retirement income,” says Cathy Weatherford, IRI president and CEO.

The Employee Benefit Research Institute and the Investment Company Institute say more and more 401(k) plans are offering target date funds, and more participants are using them — but the adoption rate has moved at a slower pace.

Auto-enrollment and –increase features continue to see success in defined contribution plans, reports Bank of America Merrill Lynch, which serves 2.5 million plan participants.

Research from Fidelity shows defined contribution balances are growing yet EBRI data reveal retirement confidence is at an all-time low.

Although research finds an increased risk of developing macular degeneration among long-term aspirin takers, study authors still advise patients who take aspirin for cardio-vascular reasons to continue to do so.

Next year, the maximum IRA contribution rises from $500 to $5,500. One wealth management expert advises immediately changing salary deferrals.

Three out of 10 Americans between the ages of 55 to 70 have not begun even basic retirement planning, LIMRA reports, and only 15% have a formal, written retirement plan.

The Investment Company Institute says that the memory of panacea pension plans is a myth, and today’s investors are not doomed to destitution with their 401(k)s.

Investor optimism has fallen sharply from its year high in May, according to a new poll. A majority currently fear outliving their retirement savings.

A recent survey suggests that millennials are highly motivated to make retirement saving a priority, but they find DC plans overwhelming and complex.

With the cost of a private nursing home room running $90,000 a year, many retirees are considering giving all their money to their children in order to qualify for Medicaid. Aside from being a serious financial risk, it shines a bright light on the lack of awareness of long-term care insurance.

A new tool allows investors to take a glimpse into their age-tattered future, which a recent university study says encourages more savings.

Fidelity Investments reports that 48% of baby boomers anticipate retiring with some kind debt — regardless of whether or not they expect a pension.

In a new study, only 14% of those aged 55 and older say their top financial priority is the accumulation of maximum wealth; far more want to save enough to have peace of mind.

According to a new report, defined contribution plan participants often contribute less and withdraw more than industry expectations, lowering performance.