Welcome to Retirement Scan, our daily roundup of retirement news your clients may be talking about.
Christian Greyenbuhl, Chief Financial Officer at Ministry Brands, is a high performing finance leader who brings operations and finance experience through a variety of senior roles in global public and private companies. He was most recently responsible for leading Xplor Technologies' FP&A, M&A, and Investor Relations functions. While at ADP he was the General Manager of Globalview North America; prior to which he held various senior finance leadership roles including SVP Investor Relations. He is both a Chartered Accountant with the Institute of Chartered Accountants of Scotland as well as a C.P.A. Christian has lived on four continents, speaks three languages, and currently lives in Georgia with his wife, four children and their Golden Retriever, Leo.
Rethink bonds and hedged funds while prepping clients for a market correction — or worse — in the coming year, counsels the CEO of Toews Asset Management.
For the first time in an annual compliance report, FINRA devotes a section to AI risks, including from third-party vendors and scammers.
Clients with $1 million in retirement savings can make it stretch for more than 20 years in Mississippi, Arkansas, Oklahoma and Missouri, according to GOBankingRates data in an article from Business Insider. Retirees in New Mexico, Tennessee, Michigan and Kansas can also live on a similar amount of savings, data shows. Retirees with $1 million can expect their savings to last in average span of 19 years, GOBankingRates estimates.
The amount of income that seniors can replace in retirement is a good measure to determine whether there is a looming retirement crisis in the U.S., according to retirement expert Mark Miller in this article from Morningstar. However, it is hard to make generalizations, he explains. “I think it varies tremendously, depending which demographic group you’re looking at, you can do it generationally or otherwise,” Miller says.
As senior clients’ needs change in retirement, they should be ready to adjust their mindset and modify their investment strategies, an expert in Kiplinger writes. Retirees should focus more on preservation and distribution after the accumulation phase, the expert writes. “In retirement, it’s important to think of your savings as income rather than a lump sum. It’s not all about achieving maximum return on investment anymore," the expert says. "It’s about how you can get the maximum return from your portfolio and into your pocket."
Virginia and Colorado are among the most-appealing locations for retirees to spend their golden years, due in part to top scores in affordability, health-related factors and overall quality of life.
Seniors who intend to move to a new home in retirement should consider a property that offers low yard maintenance, a single-story open floor plan and easy access to loved ones and essential amenities, according to a Forbes article. They should ensure that the new house is cheap to maintain and won’t trigger a hefty tax bill, says one expert. “If those costs are low, it can be a great investment.”
