We already know that the U.S. is heading for a retirement crisis, with 40 million working-age households lacking any retirement savings, according to the Federal Reserve Bank’s Survey of Consumer Finances.
Millennials are the largest living generation today, controlling $200 billion in annual spending power in the US. Although many are burdened by student loans and underemployment, their buying power will only continue to increase as they inherit businesses, estates and jobs from retiring baby boomers. They are also a “saving generation” and are already planning for their retirements.
The U.S. Department of Labor (DOL) is set today, March 17th, to push the proposed delay to the Fiduciary and Conflicts of Interest Rule on the Federal Register. The delay would push the applicability date to June 9, 2017, creating a 60-day delay. This is significantly less than what many industry professionals speculated after President Trump’s memorandum on Feb. 3, 2017.
Cash-value life insurance (variable, indexed, or fixed) are some of the most complex financial products in the market today. Many different things factor into a properly structured indexed universal life insurance policy. Client health ratings, insurance carrier solvency, cost and fees in the policy, index options, persistency bonuses, loan rates, product features, rider options, term insurance riders, and so much more. As with many other things in life, good things don't come easy.
The central region of Maine, where our main office is located, is expected to receive a record amount of snowfall beginning Sunday, February 12, 2017 and into the day on Monday, February 13, 2017. Considering the potentially unsafe driving due to the blizzard conditions, our office will have limited call in phone support on Monday, February 13, 2017. We would like our team to stay safe and do not want them on the roads. Our team members will be working from their homes and monitoring their emails as usual so feel free to content them via email for any sales, support and marketing needs.
Combined Benefits United is proud to be a sponsor once again for the Schooner Room Workshops at the Maine HR Convention, being held May 9-12, 2017 in Rockport, Maine at the Samoset Resort.
Hosted by Northern New England Law Publishers, Inc, the Maine HR Convention features inspired keynote speakers like a filmmaker from Montreal, an "earth shaker" from Arizona, a barrier-breaker from Minneapolis,and a lunch lady appreciator from Florence, MA. There are also various hosted workshops, a gala dinner, and more events throughout the 4 days.
Combined Benefits United would like to congratulate our friend and partner David Stearns of Dale Carnegie Maine. David was recently awarded with the Highest Performance in Training Award, which was given to him at their recent International convention.
David also recently achieved his Carnegie Master Trainer level, which is the highest level within the Dale Carnegie system!
While we might be heading into 2017 feeling more than usually uncertain, one big issue for the new year is familiar: retirement plan participants’ confusion over how to make the most of their plan.
The interest rate hike could be a double-edged sword for retirees and for those investing for retirement—but it’s not all bad, since although it will be cutting value on outstanding bonds on the one hand, it will be cutting risk on the other.