Practice

The global effort by the U.S. government to catch American tax cheats intensified this week as France, Germany, Italy, Spain and the United Kingdom agreed to support a broad new U.S. law requiring foreign financial institutions to disclose information about the foreign bank accounts of U.S. citizens.

Only 20 years ago, more than half of all American workers said they were on track to retire before they reached the age of 65. Today, only about 23% of Americans say they’ll be able to retire by that age. Here are the seven largest obstacles standing between your clients and an early retirement.

Thanks to this strong yearly start in stocks, the typical plan’s funded status reached 74.1%, according to BNY Mellon Asset Management.

These days, investors of all ages are understandably concerned about socking away enough income and making the best investments today to ensure a comfortable retirement later in life. Only 20 years ago, more than half of all American workers said they were on track to retire before they reached the age of 65. Today, only about 23% of Americans say they’ll be able to retire by that age. But for those investors – and the financial planners they rely upon – who still plan to retire early – maybe in their 50s or early 60s – here’s an interactive slide show featuring seven of the largest obstacles standing in their way. Source: RetirementEgg.com

Steve Sanduski, The Prosperous Advisor, says too many advisors are stuck in a pattern that’s keeping them from making new connections and reaching their full potential. Here are five tips to help break that cycle.

This week, IRA expert Ed Slott tackles questions about how distributions from contributions including both pre- and post-tax dollars will be taxed.

Fifth Third Bank continues to build its high-net-worth service offering with two internal promotions.

At the end of last year’s fourth quarter, the average 401(k) balance was up almost 8% from the prior quarter, to $69,100. Fidelity Investments president of workplace investing, James M. MacDonald, called these results “encouraging.”

A recent MFS Investment Management survey reveals that the past few years of economic uncertainty continue to take their toll on younger investors’ confidence in their retirement plans.

Clarifying Form 1099-R would help the Internal Revenue Service identify more taxpayers who are underreporting their retirement income, according to a new report.