Too Many Americans Just Don't Earn Enough To Save For Retirement
Many Americans Still Don't Earn Enough To Save For Retirement (Financial Advisor Magazine)
Many middle- and lower-income households don't earn enough to accumulate meaningful savings, which is terrible news for their retirement.
"We've had stagnant wage growth for a long time - a lot of people can't save and cover their living expenses," Alicia Munnell, the director of Boston College's Center for Retirement Research, said.
"It's no surprise that many people, especially middle- and lower-income households, crash," reports Mark Miller. "The Federal Reserve's latest Survey of Consumer Finances, released in September, found that ownership of retirement plans has fallen sharply in recent years, and that low-income households have almost no savings."
Brazil Could See A Turnaround Like India Did (WisdomTree)
Brazilian President Rousseff recently appointed a new finance minister, a move that appears to be a step in the right direction, according to Rick Harper. He hopes that "Brazilian assets respond in much the same way that Indian markets rebounded in response to reforms enacted by the Reserve Bank of India's governor."
"[T]his marks a positive first step by the administration in its attempt to re-establish its credibility with the market," he adds.
That being said, Brazil isn't going to change overnight: The real is trading at 2005 levels, interest rates are still the highest in EMs, and cheap assets could continue to get cheaper.
Ameriprise Snapped Up Two Advisors With More Than $150 Million In Combined AUM (Financial Planning)
"Ameriprise recruited two Raymond James advisors in November who managed more than $150 million in combined assets, an Ameriprise spokesperson acknowledged," reports Andrew Welsch.
Ameriprise has been actively recruiting this year, and has increased the value of its recruiting package to sweeten the deal. In September, the firm has brought in several recruits managing more than $500 million, and one more in October, who managed $165 million.
96% Of Advisors Are Optimistic About 2015, But Clients ... Not So Much (Think Advisor)
Advisors are ready for 2015: 96% are "optimistic or excited" about the upcoming year, and 85% are "expecting the markets to be as good or better in 2015 than in 2014," according to a new SEI Advisor Network survey.
However, clients aren't feeling quite so positive. Almost 25% of clients are feeling more pessimistic and reactionary about the markets.
Immigration Reform Could Shake Up Social Security (Investment News)
Obama's immigration reform would let some undocumented immigrants defer deportation, following a criminal background check and if they paid the required taxes and fees.
"[T]hose who obtain work permits and are issued Social Security numbers would be subject to payroll taxes that fund Social Security and Medicare," writes Mary Beth Franklin. This could bolster trust funds initially, she adds.
"Beyond the taxes paid and benefits received by unauthorized workers, the larger effect on the long-term actuarial status of the [Social Security] trust funds derives from the children born in the US to these immigrations," said Social Security chief actuary Stephen Goss.