Core Insights - The baby boomer generation, born between 1946 and 1964, is reaching retirement age and many are financially prepared for a comfortable retirement if they made prudent financial decisions during their careers [1] Group 1: Essential Purchases for Boomers - Comprehensive health insurance is crucial for boomers as basic Medicare may not cover all healthcare costs, and having robust health insurance can prevent large medical bills [3][5] - Long-term care insurance is recommended since 70% of individuals over 65 will require some form of long-term care, which can be financially burdensome without insurance [4] - Annuities are suggested to help mitigate the risk of outliving savings, providing a steady income stream during retirement [6]

Core Insights - Retirement income taxation in Arizona varies based on income sources and residency, with specific exemptions for Social Security and military retirement pay [2][3] Arizona State Taxes - Arizona has a state income tax with a flat rate of 2.5%, but Social Security benefits and military retirement pay are exempt from this tax [6] - Private pensions, IRA and 401(k) withdrawals, and investment income are subject to state income tax, with retirees allowed to subtract up to $2,500 annually from certain pensions [6] - The state has a sales tax of 5.6%, with an average combined sales tax rate of 8.38%, which can be as high as 12% in some counties [6] - Property tax for homeowners is set at 0.45%, ranking as the fourth lowest in the U.S., and there is no state or inheritance tax in Arizona [6] Tax Breaks for Seniors - Seniors aged 65 and above can benefit from the Senior Property Valuation Protection Option, which can lower their overall tax bill by pausing the taxable value of their primary residence for up to three years [3][4] - To qualify for this option, retirees must have an income of no more than $45,264 (or $56,580 for multiple homeowners) averaged over the last three years [4] - Seniors in Maricopa County may also access the Elderly Assistance Fund, which reduces primary school district taxes [4] Property Tax Deferral - Arizona allows homeowners aged 70 and above to defer property tax payments for up to a year, provided their total annual taxable income is $10,000 or less [5]

All right, we got two key data points out today that affect your finances. Inflation hit 3% annual rate in September, and based on CPI data, Social Security benefits will increase 2.8% next year for more than 71 million Americans. But a lot of people have not factored in inflation or government benefits into their retirement planning.Sharon Eper joins us now with some exclusive reporting on these survey reports. Uh that the results that show not only it's an issue in the US, but it's an issue for investors ...

Core Insights - Longevity can significantly impact retirement savings, particularly due to healthcare costs that may arise as retirees live longer [2][4] - Many retirees may not adequately prepare for the financial implications of healthcare, which can lead to running out of savings [2][4] Group 1: Healthcare Costs in Retirement - As retirees live longer, they require more funds to maintain a high quality of life, including healthcare and long-term care [4] - Healthcare costs can vary widely based on individual conditions and care needs, making it essential for retirees to plan accordingly [5] - The traditional investment strategy of a 60% stock and 40% bond portfolio may not be sufficient for modern retirement realities, as it does not account for the longevity and associated costs of care [6] Group 2: Investment Strategies - Investors often make the mistake of becoming too conservative with their investment allocations as they approach retirement [5] - Maintaining a more equity-weighted portfolio throughout retirement is recommended, as equities historically provide higher returns than a traditional 60/40 portfolio [7]

Core Points - The financial struggles of two daughters with student debt are highlighted, with one daughter working as a teacher and the other as a federal employee, both facing challenges in managing their loans totaling $60,000 each [1][2][3] - The impact of the recent changes in student loan payment plans is significant, with an expected increase in monthly payments by $400, making it difficult for the daughters to afford the new terms [3] - The parents are considering financial assistance options, including purchasing apartments for their daughters to alleviate their financial burdens [7][12] Financial Situation - The parents have a total of $1.8 million in retirement savings and have relocated to a state with lower taxes and expenses [6] - They own a home valued at $620,000, with an $80,000 mortgage and a $40,000 home-equity loan, and a car loan of $675 per month [5] - Monthly withdrawals from their 401(k) amount to $5,000, which are used for living expenses, including groceries and veterinary care [5] Potential Solutions - The parents are contemplating using their high credit rating to purchase studio or one-bedroom apartments for their daughters, each priced around $225,000, which would require withdrawing $80,000 from their 401(k) [7][11] - Financial experts advise considering the tax implications of such withdrawals and the responsibilities of becoming landlords if they proceed with purchasing properties [11][12] - Thoughtful lifetime gifting strategies are suggested as a way to assist their daughters without jeopardizing the parents' financial stability [17][19]

Financial Data and Key Metrics Changes - Firm wide assets under management (AUM) reached $860 billion, marking a new milestone [6] - Adjusted earnings per unit for Q3 were $0.86, a 12% increase year-over-year [40] - Net revenues for Q3 were $885 million, reflecting a 5% increase compared to the prior year [41] - Total adjusted operating expenses were roughly flat at $582 million compared to the prior year [42] - Adjusted operating margin rose to 34.2%, a 209 basis point increase from the prior year [51] Business Line Data and Key Metrics Changes - Bernstein Private Wealth AUM reached a record high of $153 billion, focusing on ultra high net worth clients [7] - Institutional asset management business AUM stood at $351 billion, catering to long duration capital pools [7] - Retail platform AUM was $356 billion, with strong growth in tax exempt fixed income and private alternatives [7][8] - Tax exempt inflows exceeded $4 billion, extending positive organic growth to 11 consecutive quarters [8] - Private markets generated nearly $3 billion of net inflows, reflecting improved conditions in commercial real estate [9] Market Data and Key Metrics Changes - U.S. equity markets delivered strong returns, with the S&P 500 returning 8.1% in Q3 [18] - Small cap stocks outperformed large caps, with the Russell 2000 returning 12.4% [19] - Taxable fixed income sentiment improved, leading to slight net inflows in Q3 [22] - The firm is the number one retail municipal SMA manager, with a 26% annualized organic growth rate in tax exempt retail inflows [90] Company Strategy and Development Direction - The company is focused on expanding its insurance asset management business, with new partnerships and strategic investments [12] - A commitment to providing better outcomes for clients through diversified investment expertise and distribution capabilities [6] - The firm aims to achieve $90 billion to $100 billion in private markets AUM by 2027 [39] - Continued innovation in retirement solutions, including customized target date funds and lifetime income strategies [27][30] Management's Comments on Operating Environment and Future Outlook - Management maintains a positive outlook on fixed income, anticipating a reallocation wave as bonds regain diversification value [17] - The company is well-positioned to capture growth opportunities in Asia, particularly in taxable fixed income [67] - Management expressed confidence in the stability of credit quality despite market volatility [62] - The firm is focused on enhancing margins and operational efficiency while investing in growth initiatives [52] Other Important Information - The firm has successfully onboarded seven new insurance GA relationships across eight strategies [13] - The effective tax rate for Q3 was 6%, in line with full year guidance [44] - The company is committed to distributing 100% of adjusted earnings to unitholders [40] Q&A Session Summary Question: Can you elaborate on the insurance opportunity and the Ruby Re timeline? - Management expressed excitement about the insurance asset management business and clarified that the timing of funding for Ruby Re has not changed [54][56] Question: What is the outlook for private credit and credit quality? - Management noted competitive environments in private credit but reassured that there is no material deterioration in credit quality [62] Question: How is the Asia business performing post-Liberation Day? - Management reported improvement in the Asia business, particularly in taxable fixed income, and noted strong engagement from institutional clients [67] Question: Can you clarify the capital allocation strategy regarding buybacks? - Management indicated that the light buyback activity was due to timing and not related to the Equitable conversion [82] Question: What is the outlook for bond reallocation and its impact on performance? - Management highlighted ongoing appetite for taxable fixed income and expressed confidence in capturing market share through innovative products [88]

Key Points Common retirement advice is to wait until age 70 to claim Social security to maximize your lifetime benefits. Optimizing lifetime Social Security benefits can't be the only goal in retirement planning. Claiming earlier may allow you to enjoy your retirement sooner and keep your budget manageable. The $23,760 Social Security bonus most retirees completely overlook › Standard retirement advice is to wait as long as possible before claiming Social Security retirement benefits. For every m ...

Higher-income households are more likely to overestimate their retirement readiness, according to a new analysis from the Center for Retirement Research at Boston College. The findings underscore the importance of proper retirement planning, even for the wealthy. While 28% of all households wrongly assume they’re prepared for retirement, middle-income households do a little better – only 26% are overconfident – while high-earning households are the most overconfident, with 32% overestimating their financi ...

Core Insights - The average retirement age is 65 for men and 62 for women, highlighting the importance of financial planning for retirement [1] Group 1: Retirement Planning - Retirement income sources include Social Security benefits, Roth IRAs, brokerage accounts, estate planning, and passive income, which are essential to counteract rising living costs [2] - Effective financial planning is crucial to manage expenses and maximize savings for retirement [2] Group 2: Expenses to Cut - Dining out significantly impacts retirement savings, with American families spending an average of $3,459 annually on dining out, which could be redirected into retirement accounts [5] - Reducing impulse shopping and excessive spending can prevent derailment of retirement plans, emphasizing the need for mindful financial habits [6]

“Shark Tank” star and entrepreneur Kevin O’Leary has built a reputation for no-nonsense financial advice, and when it comes to retirement planning, his guidance could be the difference between financial security and disaster. Learn More: I’m a Wealth Coach — 4 Ways To Build a Resilient Retirement Portfolio in 2025 Trending Now: Boomers Are Facing a New Retirement Problem -- Here's How To Deal With It With retirement costs continuing to rise, O’Leary’s practical strategies offer a roadmap to avoid common p ...