Wealth Management
Annuities offer a dependable source of income in retirement, primarily provided by life insurance companies. With various annuity products available, the challenge is identifying the most reputable providers that align with your retirement needs.
Bankrate guides this process by evaluating companies on customer satisfaction, financial strength, product diversity, and other key criteria. Their analysis includes top providers like Allianz Life, known for its wide selection of fixed index annuities, and Prudential, offering diverse annuity types with flexible options.
Pacific Life, another strong contender, stands out for its financial stability and customer service, despite higher minimum premiums. Choosing the right annuity provider involves weighing factors like fees, accessibility, and product offerings to match individual retirement goals.
Finsum: Index annuities are an increasingly important vehicle for those nearing retirement as inflation has been such an important investment factor in recent years.
At CES 2024, innovative tech products continued to capture attention despite Apple’s preemptive announcement of the Vision Pro headset earlier in the year. Standout devices included:
- The Rabbit R1, a compact AI assistant designed with Teenage Engineering, which can handle simple tasks, play music, and more, all for $199 starting March 2024.
- The Audio Pro C20 emerged as a versatile wireless speaker that supports multiple streaming options, doubles as a soundbar, and connects to a turntable, available in February 2024 for $550.
- LG unveiled its first transparent TV, the 77-inch Signature OLED T, which can transform into a 3D display or a functional visual piece when not in use. This year’s CES showcased a range of groundbreaking gadgets that highlighted new possibilities in consumer electronics.
Finsum: CES 2024 reaffirmed its status as the world’s premier tech event, showcasing cutting-edge innovations that promise to redefine the future of consumer electronics and lifestyle technology.
Model portfolios simplify portfolio management, allowing financial advisors to deliver customized investment strategies without starting from scratch. Leveraging technology, advisors can access high-quality, ready-made models that can be adjusted to meet specific client needs.
Customizing these portfolios provides a balance between using institutional expertise and offering personalized service. Advanced analytics tools are seamlessly integrated, enabling advisors to filter, screen, and select the best-performing assets based on millions of data points.
Tracking performance over time with precision ensures that clients see accurate, realistic outcomes. This approach gives advisors a competitive edge, allowing them to scale their practice while maintaining individualized attention.
Finsum: Having the analytics at your fingertips can really aid in distilling complex information to clients.
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The financial volatility of recent years has made it clear that traditional retirement strategies may no longer suffice. The old 60/40 portfolio split between stocks and bonds has proven inadequate, as demonstrated in 2022 when both asset classes declined significantly.
Retirees now face unique challenges such as sequence of return risk and inflation, which require a more adaptive investment strategy. Alternative investments, like private equity and venture capital, can offer opportunities for diversification and potential outperformance over traditional assets. Meanwhile, alternative strategies, such as long/short equity and merger arbitrage, provide potential protection during market downturns.
Despite their complexity and potential downsides, incorporating alternatives can help retirees achieve a more resilient portfolio that balances growth, income, and capital preservation.
Finsum: Moreover, stocks and bonds are experiencing increasingly high correlation in returns compared to the last four decades, which should draw more inflow into alternatives.
Major U.S. banks have continued to reduce their holdings in state and local government debt, decreasing their exposure by $3 billion in the third quarter. This trend was led by JPMorgan Chase and Bank of America, which together accounted for over half of the reduction.
Other institutions, including State Street, Citigroup, and Morgan Stanley, also cut back on their municipal bond investments. This marks the third consecutive quarter of declining investments, the longest such retreat since 1996, driven largely by the reduced tax benefits following the corporate tax cuts.
The banks' diminished demand has negatively impacted long-term municipal bonds, which have underperformed other maturities. However, the third-quarter reduction indicates a slower pace of the overall pullback compared to earlier in the year.
Finsum: Now might be an opportunity for those seeking value to consider munis as they are getting such little attention.
National elections in the United States rely on over 774,000 poll workers to operate smoothly, alongside countless other volunteers who support activities like voter registration, transportation, and canvassing. Voting is central to democracy, but it is the dedication of these volunteers that makes free and fair elections possible.
Changing how we view volunteering—from a casual choice to a vital civic duty—can strengthen communities and inspire broader participation in democratic processes. Volunteers are more likely to vote and feel deeply connected to their communities, yet the U.S. faces a decline in volunteerism that threatens its civic engagement.
To reverse this trend, organizations and governments are working to make volunteering more accessible, such as by offering paid volunteer leave or organizing voter registration drives.
Finsum: This is a great opportunity to for both community and civic engagement, and a less party centric way to engage with elections.