The Retirement Channel

Doing the Math: How Many 529 Plans Do You Need for Your Family?

What to consider when saving for multiple children’s college educations.

Jack Bogle on the Limits of the Fiduciary Rule and the Future of the Advisory Industry

Speaking two weeks after his 88th birthday, Jack Bogle called the fiduciary rule “silly” and said that financial advisors’ fees are heading lower. Indeed, he said, advisors are destined to charge hourly or retainer fees, like lawyers and accountants.

April Real Median Household Income Shows Encouraging Growth

The Sentier Research median household income data for April, released this morning, came in at $59,361. The nominal median rose $688 month-over-month and is up $2,176 year-over-year. In percentages, the latest month is up 1.2% MoM and up 3.8% YoY. Adjusted for inflation, the latest month is up $590 MoM and $920 YoY. The real numbers equate to changes of 1.0% MoM and 1.6% YoY.

Jeremy Siegel versus Robert Shiller on Equity Valuations

Should you reduce allocations to U.S. equities given the conventional wisdom that prices are “rich” and “due for a correction”? Jeremy Siegel says no; investors should expect 5% real returns from stocks over the long term. But Robert Shiller thinks that number should be much lower.

Spryng into Saving for College

As the cost of a college education continues to rise, parents (and their children) are coming up with creative ways to finance it.

Brazilian Markets Tumble as Political Turmoil Returns

Brazil’s stocks and currency took a beating as President Temer was implicated in a corruption scandal, endangering the government’s reform agenda and fragile economic recovery.

On My Radar: Near Term Looks Good, Long Term Looks Scary

This is one of the more important pieces I’m sharing with you. It’s a candid look at where we are in the economic cycle and what that likely means for the global markets.

Sustainable Income

Advisor Rand Spero of Street Smart Financial in Lexington, Mass., shares his views on the need for sustainable income, particularly among older investors.

Are You Oblivious to Fee Compression?

You are my friends and clients. I have great respect for the work you do and appreciate the value you add to the lives of your clients. That’s why it’s painful for me to see so many of you headed for trouble by denying the obvious trend in fee compression.

Why the Future is Bright for AUM-Based Advisors

Over the past several months, I have been reading Dan Solin’s thought pieces in Advisor Perspectives[1] and believe his gloomy outlook for the planning profession, and, more specifically, for advisors who are compensated via AUM-based fees, is misguided.

Whether to Counsel Clients on Spending Habits

We are having more conversations with clients about their spending habits. This is a major transition in the advisor-client relationship.

Venerated Voices™ 2017 Q1 Rankings

We have announced our Venerated Voices awards for commentaries published in Q1 2017.

The Great Reset: How Should We Then Invest?

This letter will cover the philosophical underpinnings of my thinking. I’ll also introduce some investment tools (which I will give you access to through a link later on in the letter) that express that philosophy, but you could also design a different answer that fits your own (or your client’s) portfolio construction.

China's Trilemma

On the surface, China continues to outperform expectations. It has sustained a high rate of economic growth for longer than most other developing countries.

DOL Throws New Lifeline to Lifetime-Income Solutions

The defined contribution (DC) community has been buzzing about lifetime-income products lately. It’s a topic that’s been dormant for several years, but there are good reasons for renewed interest.