retirement Archives | Jamie Hopkins Retirement https://hopkinsretirement.com/tag/retirement/ Retirement Income Solutions Thu, 05 Oct 2017 21:14:52 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 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.

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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.

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The New York Times Got It Wrong About Reverse Mortgages https://hopkinsretirement.com/new-york-times-got-wrong-reverse-mortgages/ Thu, 06 Jul 2017 21:44:36 +0000 https://hopkinsretirement.com/?p=2666 The New York Times Got It Wrong About Reverse Mortgages There are tremendous Misunderstandings about reverse mortgages. A recent 2017 RICP Retirement…

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The New York Times Got It Wrong About Reverse Mortgages

There are tremendous Misunderstandings about reverse mortgages. A recent 2017 RICP Retirement Income Literacy report from The American College of Financial Services, which surveyed roughly 1,200 Americans about retirement income knowledge, found that Americans vastly misunderstand home equity and reverse mortgages. In a recent New York Times Article, some of these misconceptions were again pushed to the public. In a response piece with Forbes, Jamie Hopkins discusses the literacy report. Additionally, he explains some of the major misconceptions surrounding reverse mortgages. Consequently, Hopkins says that far too many Americans lack a retirement income plan that incorporates home equity and reverse mortgages into the plan.

Instead, many people think RMs are dangerous products where the homeowner gives up ownership. Instead, RMs require the homeowner to maintain ownership of the home. While reverse mortgages are not for everyone, they should be part of the planning discussion.  To learn more, read this recent Forbes article interviewing Jamie Hopkins on the topic.

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New Department of Labor Fiduciary Rule Roles Out https://hopkinsretirement.com/new-department-labor-fiduciary-rule-roles/ Tue, 20 Jun 2017 18:18:00 +0000 https://hopkinsretirement.com/?p=2659 New Department of Labor Fiduciary Rule Roles Out June 9th, the new department of labor fiduciary rule roles out without much fanfare.…

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New Department of Labor Fiduciary Rule Roles Out

June 9th, the new department of labor fiduciary rule roles out without much fanfare. The new rule requires financial advisors to act as fiduciaries. This means that advisors need to act in the best interest of their clients, avoid conflicts of interest, like some forms of commissions, and meet a high standard of care. But, the rule is not so cut and dry. Instead, many advisors dislike the new standard as written.  To learn more, checkout this recent Forbes article written by Jamie Hopkins on the topic.

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Forbes Article: How Essential Life Insurance Is To Retirement https://hopkinsretirement.com/forbes-article-essential-life-insurance/ Thu, 27 Apr 2017 19:09:51 +0000 https://hopkinsretirement.com/?p=2655 Jamie Hopkins’ Newest Forbes Article On How Essential Life Insurance Is To Retirement: Retirement income planning expert Jamie Hopkins’ newest article was featured…

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Jamie Hopkins’ Newest Forbes Article On How Essential Life Insurance Is To Retirement:

Retirement income planning expert Jamie Hopkins’ newest article was featured in Forbes. The article discusses the the role of life insurance in a retirement plan and how essential life insurance is to retirement. Consequently, the article provides numerous ways and strategies that life insurance can be efficiently used in retirement. First, life insurance can be used to replace lost income due to the early death of a spouse. Secondly, life insurance can provide tax benefits. Thirdly, life insurance can provide a bond substitute in the portfolio.  However, life insurance needs are not consistent for ever person. As such, each individual needs to review his or her own situation in order to determine their life insurance needs. To learn more, read the recent Forbes article by clicking the link below.

Read the full Article

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Tips For Financial Advisors Managing Health Care Expenses In Retirement https://hopkinsretirement.com/managing-health-care-expenses-retirement/ Tue, 28 Mar 2017 19:28:05 +0000 https://hopkinsretirement.com/?p=2635 Financial Advisors Can Help Manage Health Care Expenses In Retirement: Financial advisors should incorporate health care planning into their retirement practices to…

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Financial Advisors Can Help Manage Health Care Expenses In Retirement:

Financial advisors should incorporate health care planning into their retirement practices to help clients. However, few financial advisors are doing comprehensive health care planning for their clients today. For instance, an advisor could help determine a reasonable estimate of health care expenses or could help to control MAGI to limit Medicare premiums. Additionally, an advisor could help avoid coverage gaps and avoid Medicare part B and D late enrollment penalties. Even for advisors that do not offer a wide range of health care options, these are a number of ways to help a client. To learn more, checkout this recent InvestmentNews article written by Jamie Hopkins on the topic.

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