Less than 40% of workers feel their retirement savings are on track

A recent Federal Reserve Board study shows that less than half of non-retired adults feel confident about their retirement savings

Jon VoglerTime to read: 2 min

According to a May 2018 report from the Federal Reserve Board, less than 40% of non-retired adults think their retirement savings are on track — while over 40% feel their savings are not on course, and about 20% are not sure.

The “Report on the Economic Well-Being of US Households in 2017” draws from the Board’s fifth annual Survey of Household Economics and Decision-Making, which polled more than 12,000 people in November and December 2017.

Respondents’ answers varied with the amount of current savings and time remaining until retirement.


How do summer jobs affect 529s and financial aid?

Your teen’s summer gig can prepare them for the future — and help them save for college

Time to read: 2 min

Longer days and warmer weather can only mean one thing: Summer has finally arrived. As another school year comes to a close, your teenager’s calendar may be filling up with beach trips, pool parties — and perhaps a summer job.

Your teen may be focused on the opportunity to earn a little extra spending money, but I believe a job does more than keep kids busy during the dog days of summer: It can set up young adults for a lifetime of success down the road. These days, employers tend to favor candidates with experience over education, and summer jobs add to their resume. A resume packed with work experience can offer a powerful complement to your child’s college degree (as well as a competitive edge) when they begin their career.

Looking at the big picture


DOL fiduciary rule is all but gone

Focus switches to SEC standards of conduct for broker-dealers and investment advisors

Jon VoglerTime to read: 4 min

I’ve been writing about the Department of Labor (DOL) fiduciary rule for several years, but I may soon need to write the obituary.

In the most recent edition of Washington Insights, we discussed the latest — and likely final — chapter in the DOL fiduciary rule saga. On March 15, a three-judge panel of the Fifth Circuit Court of Appeals voted to vacate (or nullify) the rule. The DOL had until April 30 to appeal the verdict to either the same three-judge panel or to the full Fifth Circuit. But that deadline has passed, meaning that the rule should be officially vacated soon (unless a third party successfully intervenes in place of the DOL to defend the rule).

The AARP and


Operating without a net

The benefits and risks of adding a lifetime income rider to a variable annuity

What is probably the most difficult set of decisions faced by any financial advisor? Wading through the countless financial products available and selecting what is best for a client. Variable annuities (VAs) are a popular choice for those desiring an income-focused investment approach, and there are a variety of riders that can be used to tailor benefits to a client’s unique needs. Let’s examine the lifetime income rider,1 and how accepting or declining this feature may affect asset allocation considerations within a portfolio.

First, a brief refresher — a variable annuity is a long-term, tax-deferred investment contract usually written by an insurance company. In return for an up-front payment(s), the contract is designed to provide investors with a way to accumulate funds and then distribute those funds as income later on — typically during retirement.

The lifetime income rider

What is it?


National 529 Day: Comparing college costs, then versus now

College costs are on the rise, but a 529 plan can help you be ready for the future

Time to read: 2 min

The month of May is filled with celebrations: Mother’s Day, Memorial Day, graduations — and of course, one of my personal favorites: National 529 College Savings Plan Day. Held each May on the 29th (of course), the holiday was originally created to raise awareness of the benefits of 529 plans and the importance of saving for a college education. If you ask me, it’s more than appropriate that this holiday is celebrated in May; after all, you never know how much college costs may rise in the future.

A lot has changed over the years …


Current retirees have greater confidence than workers in retirement plans

A recent study reveals a disconnect between the retirement expectations of workers and retirees

Jon VoglerTime to read: 2 min

Compared with workers, current retirees have greater confidence in their ability to live comfortably in retirement, according to the 2018 edition of the annual Retirement Confidence Survey (RCS) from the Employee Benefit Research Institute (EBRI).

While the RCS found that the share of workers that feel very confident in their ability to live comfortably in retirement remains low at just 17% (with another 47% somewhat confident), 32% of retirees are very confident and 44% are somewhat confident.

The RCS found that