Editor's picks — What we're reading on the Web this week
By Paul Wilson
Here's a list of some of the most interesting things we've read this week. Let us know if you agree (or don't).
For financial advisers, good prospects are hard to find (Reuters)
"Every financial adviser faces the uphill battle of building a customer base through referrals, networking, cold-calling and marketing - and the memory of his early days of seeking clients still haunts Christopher Dewdney."
Advisors and the future: Threat and opportunity posed by digital natives (AdvisorOne)
"Tuesday morning [Brett King] made a thought-provoking general session presentation called “Where Have All the Advisors Gone?” that focused on how advisors’ lives and businesses will change by 2020."
Selling health insurance by the pound: The overweight increasingly have to fork over higher premiums (Wall Street Journal)
"Here’s something employees don’t usually expect when they attend orientation for a new job: weigh-ins and waistline measurements."
2 reasons why some life insurance agents sell you the wrong policy (US News)
"Most of these agents are good people. They aren’t all slick sales people just trying to empty your pockets into their own. Many of them believe what they are doing is noble. Well….noble or not, their arguments are misguided in my opinion."
The Facts on Life Insurance [infographic] (Dailyinfographic.com/Efinancial)
" Life insurance is not only a smart thing to have, it is a necessity. The future of your family may depend on it."
Busting annuity myths: The pros & cons (Wall Street Journal)
Over $200 billion of annuities are sold every year and trillions have already been purchased, but most people still believe that the only way to receive a lifetime income stream from an annuity is to annuitize.
Pros and cons of converting to a Roth 401(k) (Reuters)
"It was a small but important line item in the recent "fiscal cliff" deal. As part of the American Taxpayer Relief Act of 2012, Congress made it possible for all retirement savers to convert their 401(k) accounts to a Roth 401(k) without moving money out of the workplace plan."
College aid: Don't take the bait (CNN)
"If you're facing a $100,000 to $250,000 four-year college bill in the not too distant future, you probably see yourself not just as an anxious parent but as a pauper-in-waiting. When some life insurance agents look at you, on the other hand, they see an ELF. As in 'easy, lucrative, and fun.'"
As America ages, senior care options flourish (Associated Press)
"Millions of families are beginning to grapple with the one major health expense for which most Americans are not insured: long-term care."
Investors worry more about long-term care than retirement planning: UBS (onwallstreet.com)
"Most financial advisors focus on helping clients build up a nest egg for a comfortable retirement, but is that what people really want?"
The health care law and retirement savings (New York Times)
"Because of its definition of affordability, beginning next year the Affordable Care Act may affect retirement savings."