Jamie Hopkins Retirement https://hopkinsretirement.com/ Retirement Income Solutions Mon, 02 Apr 2018 18:22:36 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 New Retirement Income Planning Book Available https://hopkinsretirement.com/new-retirement-income-planning-book-available/ Mon, 02 Apr 2018 18:22:36 +0000 https://hopkinsretirement.com/?p=2928 Professor Jamie Hopkins Releases His New Retirement Income Planning Book Professor Jamie Hopkins released his new retirement income planning book this year,…

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Professor Jamie Hopkins Releases His New Retirement Income Planning Book

Professor Jamie Hopkins released his new retirement income planning book this year, Rewirement: Rewiring The Way You Think About Retirement. American’s struggle with behavioral biases and misconceptions that hurts their retirement planning. In this new book, Jamie discusses how you can change the way you think about retirement. Income planning is very different from savings. People need to focus on risks like sequence of returns, inflation, and longevity. These risks really don’t present themselves until you hit the income phase.

Additionally, Jamie talks about useful debt management strategies and how to prioritize debt in retirement. Housing wealth is one of those areas. Mortgages can be a drain, but often are useful planning vehicles. With comparatively low cost to borrowing, reverse mortgages and traditional mortgages can be useful retirement income tools, which goes against what many people initially believe.

To learn more about the book read this recent InvestmentNews article.

Read The Article

To buy the book on Amazon check the link below.

Read The Article

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Professor Jamie Hopkins Talks End of Year Financial Tips With NBC10 https://hopkinsretirement.com/professor-jamie-hopkins-talks-end-year-financial-tips-nbc10/ Thu, 04 Jan 2018 21:37:01 +0000 https://hopkinsretirement.com/?p=2910 Professor Jamie Hopkins Talks End of Year Financial Tips With NBC10 Professor Jamie Hopkins Talks Retirement With NBC10 in a new video.…

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Professor Jamie Hopkins Talks End of Year Financial Tips With NBC10

Professor Jamie Hopkins Talks Retirement With NBC10 in a new video. American’s struggle with their personal finances, savings, and spending. But what should you do around the holidays to keep yourself on track? In this new video, Jamie discusses best practices for budgeting, spending, and gifting. Perhaps the best financial tip is to reinvestment in yourself.

Additionally, Jamie talks about useful debt management strategies and how to prioritize debt management. Unfortunately, many people start with paying off the smallest account first and then moving to the largest account. Instead, Jamie argues that you should tackle high interest debt first and then move onto low interest debt. The size of the account is not what matters but the cost of the debt.

Check Out The Video

Recently, NBC10 @Issue aired the video.

To learn more and to watch the video, click the link below to see the NBC10 video featuring Professor Jamie Hopkins.

Watch The Video

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Avoid Overspending This Holiday Season https://hopkinsretirement.com/avoid-overspending-holiday-season/ Thu, 14 Dec 2017 15:53:41 +0000 https://hopkinsretirement.com/?p=2892 Avoid Overspending This Holiday Season Professor Jamie Hopkins was recently quoted by Experian in an article telling people how to avoid overspending.…

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Avoid Overspending This Holiday Season

Professor Jamie Hopkins was recently quoted by Experian in an article telling people how to avoid overspending. The most likely group of Americans to overspend are also the group that should be spending the least. Low income individuals and younger individuals tend to overspend the most around the holidays. This can sidetrack their financial goals and increase their debt obligations.

While you want to spend and buy presents for family and friends, set a budget and stick to it. Don’t go into credit card debt just to buy gifts around Christmas.

For a smart way to gift, consider making charitable donations on someone’s behalf. This can be more meaningful than a gift card. It also can help you out come tax time as the gift is likely deductible.

To learn more and read the article, click the link below.

Read Experian Article

 

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Common Reverse Mortgage Misconceptions https://hopkinsretirement.com/common-reverse-mortgage-misconceptions/ Wed, 13 Dec 2017 18:12:23 +0000 https://hopkinsretirement.com/?p=2890 Common Reverse Mortgage Misconceptions Professor Jamie Hopkins and Columbia University Professor Chris Mayer, CEO of Longbridge Financial, discuss some common misconceptions about…

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Common Reverse Mortgage Misconceptions

Professor Jamie Hopkins and Columbia University Professor Chris Mayer, CEO of Longbridge Financial, discuss some common misconceptions about reverse mortgages. Many people do not know that a reverse mortgage is a government insured program. Additionally, when a homeowner gets a reverse mortgage they maintain title of the home. This is actually a requirement of the program. In essence, a homeowner uses a reverse mortgage to borrow money from the bank by securing the loan with the home. Instead of making monthly payments like with a normal mortgage no monthly payments are required. With a reverse mortgage is repaid when the homeowner stops using the home as the principal residence.

Watch the video below to learn more about common reverse mortgage misconceptions.

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Bitcoin and Digital Currency Fever https://hopkinsretirement.com/bitcoin-digital-currency-fever/ Sat, 11 Nov 2017 17:56:19 +0000 https://hopkinsretirement.com/?p=2887 Bitcoin and Digital Currency Fever Professor Jamie Hopkins was recently quoted in two articles by ThinkAdvisor where he discussed the rise of…

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Bitcoin and Digital Currency Fever

Professor Jamie Hopkins was recently quoted in two articles by ThinkAdvisor where he discussed the rise of Bitcoin and other cryptocurrencies. While Bitcoin is the most popular cryptocurrency, there are about 1,000 in existence today. Other popular cryptos include LiteCoin, Zcash, and Ethereum. Each currency has its own pluses and minuses from a user or investment standpoint. Professor Hopkins, while a big proponent of digital currencies believes that certain investment focused approaches to  them could be misguided. Cryptocurrencies should not be viewed as a true investment, but instead a hedge or diversification of currency. It can also be used as a speculative investment, but there are no earnings or growth models to show the future of a digital currency.

Professor Hopkins believes the rise in digital currencies is just beginning. This is really a technological advancement of currencies past out-dated and traditional forms of currency. A move away from a government controlled currency could also function as an alternative to the USD. The USD serves as the world leader for money. Most banks rely on the U.S. dollar and more U.S. dollars sit outside the United States than within. However, dollars are inefficient. They break down and fall apart. Coins are expensive and bad for the environment. Digital currencies can function to offset some government related currency risks and reduce costs of currencies over time.

The rise of digital currencies is the wave of the future. It also shows that there is a large group of people that do not believe in the the traditional systems of monetary control. These people want another option.

To learn more and read the two articles, click the links below to see the ThinkAdvisor articles featuring Professor Jamie Hopkins.

Read Article 1 Read Article 2

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Roth Accounts Can Boost Retirement Savings https://hopkinsretirement.com/roth-accounts-can-boost-retirement-savings-says-professor-hopkins/ Fri, 13 Oct 2017 21:44:58 +0000 https://hopkinsretirement.com/?p=2880 Roth Accounts Can Boost Retirement Savings Professor Jamie Hopkins was recently quoted in a Consumer Reports article discussing Roth accounts. American’s struggle…

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Roth Accounts Can Boost Retirement Savings

Professor Jamie Hopkins was recently quoted in a Consumer Reports article discussing Roth accounts. American’s struggle with retirement planning, but what is driving it? Professor Hopkins notes that Roth savings can help a client diversify his or her public policy risk and actually save more money each year. For instance, saving $18,000 in a 401(k) salary deferral is actually less money than $18,000 in a Roth 401(k) account. Why? Because the government owns a portion of your $18,000 in the salary deferral account. But, in the Roth account that money is all yours.

Furthermore, a Roth account is more flexible. You can spend it when you want to and not when the government tells you to spend it. Traditional IRAs and 401(k)s are subject to mandatory withdrawals at age 70.5.  However, Roth IRAs are not subject to that requirement. Meaning, you have more control over your money.

To learn more and read the article, click the link below to see the Consumer Reports article featuring Professor Jamie Hopkins.

Read Article

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Professor Jamie Hopkins Talks Retirement With NBC10 https://hopkinsretirement.com/professor-jamie-hopkins-talks-retirement-nbc10/ Thu, 05 Oct 2017 21:05:11 +0000 https://hopkinsretirement.com/?p=2875 Professor Jamie Hopkins Talks Retirement With NBC10 Professor Jamie Hopkins Talks Retirement With NBC10 in a new video. American’s struggle with retirement…

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Professor Jamie Hopkins Talks Retirement With NBC10

Professor Jamie Hopkins Talks Retirement With NBC10 in a new video. American’s struggle with retirement planning, but what is driving it? Professor Some of his recent research shows the poor literacy rates might be behind some of the issues. Americans struggle to understand some basic investment and retirement concepts.

Additionally, according to a new research report, Americans moving into retirement don’t have a good understanding of how to effectively use home equity as an income source in retirement. Furthermore, the report surveyed over 1,000 people to determine their feelings on housing in retirement and test their knowledge with a 10-question true or false literacy quiz on reverse mortgages.

Check Out The Video

Recently, NBC10 @Issue aired the video.

To learn more and to watch the video, click the link below to see the NBC10 video featuring Professor Jamie Hopkins.

Watch Video

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Labor Department Seeks Delay of DOL Fiduciary Rule https://hopkinsretirement.com/labor-department-seeks-delay-dol-fiduciary-rule/ Mon, 14 Aug 2017 21:42:40 +0000 https://hopkinsretirement.com/?p=2870 Labor Department Seeks Delay of DOL Fiduciary Rule The Department of Labor announced that it recently sent in a proposed delay of…

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Labor Department Seeks Delay of DOL Fiduciary Rule

The Department of Labor announced that it recently sent in a proposed delay of the DOL fiduciary rule to the OMB. A delay of the rule was expected as the Trump administration has attacked the fiduciary rule since before taking office. However, the recent announcement came from an indirect form. The announcement that the DOL was seeking a delay came from a court document it submitted as part of a lawsuit in the U.S. District Court for the District of Minnesota.

It appears that the DOL will seek an 18 month delay of the Jan.1, 2018 compliance date. This would mean full-implementation would occur on July 1, 2019. It is important to realize that a delay was expected. But, it is what occurs during the delay that will be interesting to watch. According to Professor Hopkins, the delay gives opponents of the rule in the DOL to draft new exceptions and amendments that would significantly water down the current rule. Ultimately, this will be a big win for the variable and indexed annuity providers. As future changes to the rule should provide them with more flexibility to operate under the new standards which rolled out in part in June 2017.

However, it is important to realize that the implementation date has not yet been pushed off. The DOL still has work to do. However, they will likely succeed in delaying the rule.

Check Out The Article

The WSJ recently quoted Jamie Hopkins about the proposed delay and its implications.

To learn more, click the link below to read the WSJ article citing Professor Jamie Hopkins.

Read Article

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Senior Women Fail Retirement Income Literacy Quiz https://hopkinsretirement.com/senior-women-fail-retirement-income-literacy-quiz/ Mon, 24 Jul 2017 20:10:11 +0000 https://hopkinsretirement.com/?p=2674 Senior Women Fail Retirement Income Literacy Quiz The American College of Financial Services released new research findings, the RICP® Retirement Income Literacy Survey, detailing…

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Senior Women Fail Retirement Income Literacy Quiz

The American College of Financial Services released new research findings, the RICP® Retirement Income Literacy Survey, detailing the literacy gaps between men and women. Only 18% of the retirement age women respondents could pass the basic retirement income literacy quiz. However, nearly twice as many males could pass. This is worrisome because women face a number of more serious retirement challenges that their counterparts do not face.

According to Professor Hopkins, women face three serious risks in retirement that men do not face to the same degree. First, women face greater longevity than men. Secondly, women typically have higher health care expenses in retirement. And lastly, women tend to suffer more from long-term care events than do men. Despite facing higher risks of running out of money in retirement, women appear less prepared and less knowledgeable about retirement than men.

This lack of retirement income literacy highlights the need for assistance and increased education.

 

Check Out The Article

To learn more, click the link below to read this research citing Professor Jamie Hopkins.

Read Article

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Millennial Managers A Guide For Successful Management https://hopkinsretirement.com/millennial-managers-success/ Sun, 09 Jul 2017 19:50:47 +0000 https://hopkinsretirement.com/?p=2669 Millennial Managers Need Help In Workplace Millennial managers are taking over the workplace. By 2050 they will control the American office. However,…

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Millennial Managers Need Help In Workplace

Millennial managers are taking over the workplace. By 2050 they will control the American office. However, many are ill-equipped to lead today. A recent Harvard Business Review report found that older workers distrust millennial managers and do not view them as role models. This is a real issue. As more and more millennials take the reigns of management, organizational effectiveness will hinge on their leadership and management skills. Both companies and millennials need to take on responsibility for improvement. This means that millennials will have to buck some of their common stereotypes by working late and leading by example.

However, millennials won’t be able to do it alone. Success will also require older generations to buy into a new management style and follow their manager’s lead. This does not mean the older generations can’t push back in certain ways, but they need to understand that change is happening. Millennials often have different challenges than previous generations but a lot also stays the same.

Check out this quote from the article “Ultimately, millennial managers will need to lead by example. Because many older employees are hesitant to accept them as role models, they will need to demonstrate their work ethic, leadership, and trustworthiness over time. This might mean Millennials need to be the first ones in the office in the morning and the last ones out the door at night. It also means they must understand the needs of employees of any generation so that they can help them achieve their own goals and the overall goals of the organization.”

Check Out The Article

To learn more, read this recent Forbes article by Jamie Hopkins and Bryan Yackulic. Bryan is the Assistant Director of the Chartered Leadership Fellow® Program at The American College. He is also an Adjunct Professor of Management at The American College of Financial Services.

Read Article

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