Core Insights - Jackson Financial Inc. has appointed Alison Reed as the Head of Distribution for Jackson National Life Distributors LLC, aiming to enhance organizational performance and drive growth initiatives [1][2]. Group 1: Leadership Appointment - Alison Reed brings extensive experience to her new role, having joined Jackson in 2002 and held various leadership positions, including Chief Product Development and Strategy Execution Officer [2]. - Chris Raub, President of Jackson National Life Insurance Company, expressed confidence in Reed's ability to lead JNLD through its next growth phase, emphasizing her understanding of the retirement services industry [2]. Group 2: Company Overview - Jackson Financial Inc. focuses on simplifying retirement planning for financial professionals and their clients through a range of annuity products and award-winning service [3]. - The company aims to provide clarity in retirement planning to drive better outcomes for all stakeholders, including customers, shareholders, and distribution partners [3].

Core Insights - The article discusses retirement planning, focusing on the financial aspects of retiring at age 66 with a Roth IRA and Social Security benefits [1][4]. Income and Expense Planning - A median household income of $75,000 suggests that retirees will need about 80% of their pre-retirement income, equating to approximately $60,000 before taxes or $54,600 after taxes [3]. - Social Security benefits at age 66 would provide $26,400 annually, with a potential increase to $28,295 if retirement is delayed until age 67 [4]. Roth IRA Considerations - Roth IRA withdrawals are tax-free, which means Social Security benefits would not incur federal income taxes, providing more flexibility compared to pre-tax accounts [4]. - Roth accounts are not subject to required minimum distributions (RMDs) at age 73, allowing for greater control over withdrawals [4]. Withdrawal Strategy - The classic 4% rule suggests withdrawing 4% from a balanced portfolio in the first year of retirement, which would yield $36,000 from a $900,000 Roth IRA [6][7]. - Combined with Social Security, the total retirement income would be approximately $62,400, which may not sufficiently cover spending needs, especially in higher-cost living areas [7].

Core Insights - The article emphasizes the importance of avoiding common retirement mistakes, particularly the dangers of carrying debt into retirement, which can jeopardize financial security [2][3][7] Debt Management - Carrying too much debt is highlighted as a significant error that can undermine retirement plans, as it reduces the ability to save and invest for the future [4][5] - Ramsey suggests that individuals should create a plan to eliminate debt, starting with the lowest balance to maintain motivation, while also considering paying off high-interest debts first for greater savings [6] Retirement Planning - The article warns that relying heavily on Social Security, which only replaces about 40% of pre-retirement income, is a mistake; personal savings are essential to maintain a desired standard of living in retirement [7] - Avoiding debt and over-reliance on Social Security can lead to a more secure retirement, allowing individuals to enjoy their later years without financial stress [7]

Retirement at 65 used to be the norm. You worked 40-plus years, sometimes for the same company and retired with a pension or Social Security benefits and a paid-off house. But times are changing, and some people are delaying retirement past 65 — sometimes, way past. Find Out: Financial Advisors Weigh In — Whose Plan for Retirement Is Better, Dave Ramsey or Suze Orman? Read More: 5 Clever Ways Retirees Are Earning Up To $1K Per Month From Home There are lots of reasons to put off retiring. Medical advance ...

Market Overview - The Vanguard S&P 500 ETF (NYSEMKT: VOO) closed down 0.2%, marking its third consecutive day of losses, influenced by mixed job data from the U.S. Bureau of Labor Statistics [1] - The market showed signs of recovery with a 0.3% increase in premarket trading [1] Oil Industry - The Trump Administration announced a "total and complete" blockade against sanctioned oil tankers in Venezuela, contributing to a 1.5% increase in WTI and Brent crude oil prices [2] - Current prices are over $56 per barrel for WTI and nearly $60 for Brent, with potential impacts of the blockade estimated to affect 0.4-0.5 million barrels of oil per day, possibly raising prices by $1-2 per barrel [3] Technology Sector - Oracle (NYSE: ORCL) shares are under pressure following reports that Blue Owl Capital will not support a $10 billion deal for a new data center in Michigan, which is part of Oracle's contract with OpenAI [3] - The AI sector is experiencing pressure, with Oracle shares down 2% in premarket trading [4] Lithium Industry - In China, the government's decision to revoke lithium mining permits is boosting shares of global lithium miners, with Sociedad Química y Minera de Chile S.A. (NYSE: SQM) up nearly 5% and Albemarle (NYSE: ALB) up nearly 4% in premarket trading [5]

Core Insights - The article discusses the financial considerations for retirees, particularly focusing on the adequacy of an $850,000 IRA combined with $2,800 in monthly Social Security benefits for retirement at age 65 [1][3]. Income Calculation - A detailed budget and income projection are recommended for retirees to assess their financial readiness rather than relying on shorthand methods [1]. - The article suggests a common withdrawal strategy of 4% from a balanced portfolio, which would allow for an initial withdrawal of $34,000 from the IRA in the first year, adjusting for inflation in subsequent years [4]. Asset Income Potential - Various asset classes can generate income for retirees, including cash, which could yield $42,500 annually at current rates for certificates of deposit, and long-term fixed-income securities like 10-year U.S. Treasury Notes, which could provide $36,400 annually [5]. - Stocks, particularly through the S&P 500 Index, have historically returned nearly 10% annually, but actual returns may be lower due to fees and volatility, suggesting that a stock-heavy portfolio could allow for higher withdrawals than the standard 4% [6].

Core Insights - Delaying retirement until age 70 can provide financial benefits, especially for those who enjoy their work and have less stressful jobs [1] Group 1: Social Security - Individuals retiring at 70 should claim Social Security benefits immediately, as there is no financial incentive to delay beyond this age [3] - Those who have delayed claiming Social Security may see increased monthly checks, reducing pressure on their savings [5] Group 2: Withdrawal Strategy - A sustainable withdrawal strategy is crucial for retirees, particularly those starting retirement with a healthy IRA or 401(k) balance [4] - The 4% rule, which allows for withdrawals adjusted for inflation, may not be necessary for those retiring at 70, potentially allowing for larger withdrawals [6] - It is important to determine a withdrawal rate that supports the desired lifestyle while preserving the nest egg [7] Group 3: Investment Portfolio - Retirement does not eliminate the need for a growth-oriented investment portfolio; maintaining some exposure to the stock market is essential for generating returns [8]

Boomers may be sitting on as much as $124 trillion in assets. But how much of that should go to their kids? - MarketWatch photo illustration/iStockphoto Should you give your adult children money now — or let them inherit it after you’re gone? Kurt Supe, an Indianapolis-based financial adviser specializing in retirement planning, examined this age-old question in a recent post on X. He pointed to one client with $3.2 million in savings and children aged 28, 31 and 34. Most Read from MarketWatch His co ...

Group 1 - The importance of having enough money to retire is emphasized, highlighting that consistent contributions to an IRA or 401(k) do not guarantee a sufficient nest egg. A financial advisor can assist in investing retirement savings effectively and calculating a savings goal to ensure individuals are on track throughout their careers [3] - Ensuring that retirement funds do not run out is crucial. A financial advisor can help develop a withdrawal strategy tailored to individual income needs, health, and life expectancy, ensuring the nest egg lasts throughout retirement [4] - The timing of claiming Social Security benefits is a significant decision. A financial advisor can provide strategic advice on when to file for benefits, considering factors such as income requirements and health, and can help coordinate claims for couples to maximize benefits [7][8] Group 2 - Maintaining purchasing power in the face of inflation is a concern for retirees. While Social Security benefits adjust for inflation, rising living costs can erode retirement savings. A financial advisor can assist in creating a portfolio that protects against inflation [9]

Core Insights - J.P. Morgan Asset Management's "Retirement by the Numbers" report emphasizes the need for improved plan design and participant support to enhance retirement security [1][2] Group 1: Participant Behavior and Financial Health - 48% of plan participants carry credit card debt, which increases the likelihood of taking loans from retirement plans and is associated with lower contribution rates and smaller account balances, reducing retirement readiness by up to 40% for older participants [1] - The average retiree spending declines by more than 30% between ages 60 and 85, with 60% of new retirees experiencing annual spending changes of 20% or more [2] Group 2: Plan Design and Contribution Strategies - Increasing contributions by just one percent starting at age 25 can help fund nine years of average Medicare-related expenses [2] - Nearly 70% of defined contribution participants are invested in target date funds, highlighting the importance of investment design and the glide path in achieving retirement success [3] Group 3: Importance of Personalized Solutions - The findings indicate that average income replacement needs vary widely based on pre-retirement salaries and Social Security benefits, underscoring the need for flexible, personalized retirement solutions [3] - Thoughtful plan features are essential to support long-term outcomes, as investment design alone cannot compensate for low savings rates [4]