The SEC recently passed new regulations it says will ensure that brokers act in their clients' "best interest." But what does that mean for you?
SALT LAKE CITY (AP) — A Utah man has been sentenced to 15 years in prison and ordered to pay full restitution after defrauding his insurance clients.
The Salt Lake Tribune reports 41-year-old Brian Smart of Lehi took more than $1,800 from his clients between May 2005 and March 2006.
Authorities say many of Smart's clients were elderly and the theft left them without retirement funds.
Smart was arrested in 2012 in connection with an investigation by the California Department of Insurance.
Many of the people I meet with own annuities. Most do not fully understand what they have. With hundreds of different annuities available, I’d like to shed a little light on the various types. All annuities are contracts with an insurance company.
In developing an allocation strategy for your investment assets, the first question to consider is: how willing are you to take investment risks in your retirement portfolio? If you are unwilling to take any risks whatsoever, then your investment allocations should be in ultra-safe investments, such as laddered CDs, conservative bond funds, money market accounts, treasury instruments or fixed annuities. Even if your risk tolerance is moderate (meaning you are willing to assume some investment risk), more than likely a portion of your portfolio should be in fixed dollar investments.
Our friends are starting to retire, and we get to celebrate with them and hear all about their exciting plans. Yet often enough I hear about sleep-killing money anxiety, too, even from the best-prepared. Only when it happened again recently did I realize there’s no reason to be surprised. Americans routinely report anxiety about money, particularly middle-aged people. Even though Gallup’s most recent poll on finances was its most optimistic in a while, more than half of American adults reported...
Our friends are starting to retire, and we get to celebrate with them and hear all about their exciting plans. Yet often enough I hear about sleep-killing money anxiety, too, even from the best-prepared.
Only when it happened again last weekend did I realize theres no reason to be surprised.
Ex-insurance agent gets life sentence for client theft
PLAINVIEW, Texas (AP) — A former Lubbock insurance agent has been sentenced to life in prison for stealing money from some of his elderly clients.
Joseph Gaines was also ordered to pay back $810,000 he had taken from his victims.
He had pleaded guilty to an enhanced felony count of misapplication of fiduciary property of the elderly.
Recently, Jane Bryant Quinn wrote a column for the AARP Magazine and website trashing fixed index annuities. While many of the points Quinn states are in fact accurate, that doesn't make them true. Accuracy and truth are not automatically one and the same. In fact, accuracy can be used to twist the truth and support complete falsehoods. We've seen it thousands of times in our politics. People on both sides of the aisle taking comments from the opposition out of context, packaging them convincingly in a provocative ad, often juxtaposed with an unrelated image, accurate but false; facts without truth, spreading lies and causing significant damage.
Lincoln insurance agent who stole from clients gets prison
LINCOLN, Neb. (AP) — A Nebraska judge has sentenced a former insurance agent to at least six years in prison for bilking clients out of nearly $160,000, saying he felt "heartsick" for the victims.
Experts recommend seniors to put their money in something safe, with minimum guarantees. For example, Certificates of Deposits, annuities or bonds. Now, there are select groups who can afford to play the game of risk that the market entails, but for most seniors living on a restrictive budget, playing the risk game should be avoided.
As people around the world continue to live longer, it has become necessary to better prepare for the years of retirement. With this increased lifespan, healthy individuals can expect to live well past age 65. When an individual has ceased working, the need to continue to provide some sort of steady income is important. Making wise investments, such as purchasing annuities, becomes an important part of the long-term plan to create and maintain a successful retirement.
Recently my 66-year-old husband had a stroke leaving him unable to take care of himself. Because he is not working fulltime, he has qualified for Medicare Part B with a Medicare Supplement.
- Business WireAres Management Corporation Announces Expansion of its Insurance Platform Through the Launch of Aspida FinancialJuly 9, 2019
- Business WireGreat American Life and Barnabas Capital Join Forces to Offer Innovative Variable-Indexed AnnuitiesJuly 9, 2019
- ACCESSWIRE8% on a Fixed Annuity? No. But You Can Earn 4% or MoreJuly 2, 2019