Editor's picks around the Web: 9/23-9/27
By Vanessa De La Rosa
This week's picks include retirement advice inspired by Mike Tyson, a desire to find sustainable long-term care, an opinion piece advising not to invest like Dave Ramsey, a look at what the DOMA ruling means for estate planning, and more.
Got a variable annuity? Get a second opinion (Forbes)
"If a client is changing investment options, they must make sure that this is an approved investment option and will not disqualify the guarantees. Some contracts require a “model” and if you move out of it would negate the guarantee."
Estate planners decipher impact of DOMA ruling (Financial Advisor)
"Life became more interesting—and complicated—this summer for advisors with lesbian, gay, bisexual and transgender clients."
What Mike Tyson can teach you about retirement (DailyFinance)
"Conventional wisdom tells us that a reasonable withdraw rate from our retirement nest egg is 4 percent. Some experts suggest a smidge lower, while others say you can withdraw a little more. Regardless, this rule of thumb is helpful in planning for retirement. The key word there is planning. That reminds of me of what one retiree, former undisputed heavy-weight champion of the world Mike Tyson, said about planning: 'Everybody has a plan until they get punched in the face.'"
Does your client want to divest from fossil fuels? (Think Advisor)
"For those advisors who are fiduciaries, doing some homework on this sticky subject might be a good idea before the next pro-divestment request comes in from a foundation, university or socially responsible individual investor."
Finding a sustainable path for long-term care (The Hill)
"The current system is fragmented, costly and inefficient. But we have an opportunity to address these problems practically and reasonably and to build a system that relieves the current and growing heavy economic burden on our nation and our families."
Save like Dave Ramsey... just don't invest like him (CNN Money)
"'I've gotten more people out of debt than anyone in the history of America,' he tells listeners, and even some of his harshest critics will concede he's done a lot of good. But if you've gotten through the baby steps of conquering debt and starting to save, you'd be wise to graduate to better advice on investing."
Should annuities be inside your IRA? (MarketWatch)
"There is an ongoing argument in the financial world of whether an annuity should be held within an Individual Retirement Account. As with most money issues, the answer isn't a simple yes or no."
America's kludgiest kludgeocracy (The Economist)
"Steven Teles, an associate professor of political science at Johns Hopkins, has spent the past year or so trying to make the term 'kludgeocracy' happen. I, for one, think this word is so fetch. What with Ted Cruz, John Boehner and the rest of the GOP throwing together legislative kludge after kludge in a doomed attempt to repeal the gigantic kludge that is Obamacare, 'kludgeocracy' is one of the best lenses through which to look at the health-care battlefield."