Boomers, already strapped for cash, stand to lose even more money by caring for their parents, according to Fidelity Investments in Boston.
Fidelity's IRA market share is about 13.7% as of the fourth quarter of 2007, up from 12.7%, the previous year, according to Cerulli.
Some 21% of participants are now contributing at a lower rate and 4% have stopped altogether, according to Putnam.
“We’re not going to move [the bill],” said Rep. George Miller, D.-Calif. “We don’t see the president signing it.”
Financial advisers face an array of challenges in the retirement market in the next decade.
The mutual fund industry, buffeted by volatile markets, unprecedented scandals and new competition, has had a tough time over the past 10 years.
During the past decade, 401(k) plans have elbowed defined benefit plans to become the primary retirement vehicle for most Americans.
The economic downturn is forcing some baby boomers to raid their 401(k) plans and halt their savings, which could have a negative effect on their retirement, according to a new study.
A new software service lets employers benchmark 401(k) plan costs.
Despite the economic downturn, demand for small-business 401(k) plans remains strong, according to ShareBuilder Advisors.
What would be the financial consequence if one of your clients lost his or her physical and/or mental independence?
The use of alternative hedge-fund-like strategies within mutual funds was a hot topic of discussion last week at the Investment Company Institute's 50th annual general membership meeting in Washington.
The government should remove obstacles that keep employers from offering 401(k) plans, said Paul Schott Stevens.
The volatile stock market has created a period of frenzy for financial advisers in the 401(k) area, who have seen a substantial increase in the number of new prospects.
Eight percent of investors have recently halted or reduced their contributions in 401(k) plans, a study reveals.
Nearly half of large employers plan to add or replace funds in their 401(k) plans in the next 12 months, according to a newly released study.
Financial advisers favor the 401(k) fee breakdowns that would be required in the Fair Disclosure for Retirement Security Act, which was approved April 16 by a 25-19 party-line vote of the House Education and Labor Committee, even though that stance is at odds with the position taken by the mutual fund and brokerage industries.
Do your clients have health savings accounts?
With the economy deteriorating and prices for gas and heating fuel skyrocketing, consumers who are seeking new sources of cash are increasingly jeopardizing their retirement income by taking out loans from their retirement plans.
