Here's an interesting set of charts that will especially resonate with those of us who follow economic and market cycles. Imagine that five years ago you invested $10,000 in the S&P 500. How much would it be worth today, with dividends reinvested but adjusted for inflation? The purchasing power of your investment has increased to $18,495 for an annualized real return of 12.36%.

Allianz Life Generations Ahead Study finds parents’ bad experiences also impact millennials’ financial behaviors.

Much as I want to know the future, I’ve long since recognized the dangers of our addiction to predictions, which are usually heralded by so-called market gurus. I’ll give you seven surefire ways to spot those purveyors of bad advice, but first let’s look at a far more useful set of forecasts.

Over a long enough period, I agree, you will make money. But, simply making money is not the point of investing. We invest to ensure our current “hard-earned savings” adjust over time to provide the same purchasing power parity in the future. If we “lose” capital along the way, we extend the time horizon required to reach our goals.

We would do well to heed the teaching of behavioralists as we craft solutions to some of today’s thorniest problems.

Going from nest-egg saving to nest-egg spending may present a difficult challenge for many entering retirement, according to industry professionals.

Atop the “what matters most” list is debt. Specifically, global sovereign debt: U.S., Europe, Japan and China. We are at the end of a long-term debt cycle. Borrow, spend and grow is good for the economy. Credit is money. It is a multiplier that enables you to spend more than you have.

On June 20t, the CFP Board released a draft of proposed revisions to its Code of Ethics. The draft and the pronouncements surrounding the release are merely the latest in the Board’s long history of feigning interest in consumer advocacy in order to advance the organization’s own ambition to seize control of the financial planning industry. Its actions serve as a sterling example of why the CFP Board should never be entrusted to be the standard bearer for the profession.

Many facing retirement appear surprised by the challenges that await them, including the need to plan for regular income, industry professionals say.