Contact

News & Insights

Around Half of All Savers Face Retirement Income Shortfall

In the current climate, none of the traditional vehicles can be automatically relied upon. For example, 401(k)s can fail to meet expectations and may be impaired by their sometimes considerable fee burden, while expat retirement investors have additional concerns such as the high US tax burden on UK pensions.

There have been attempts to address the issue, with some members of Congress seeking regulatory reform and a requirement for financial advisers to act in the best interests of clients – the Department of Labor’s fiduciary rule. However, systemic change still seems far away and, in its absence, the need for financial advisers and wealth managers who can make a difference to the retirement outcomes of clients only grows.

There are numerous pieces of legislation attempting to address the problem (the Retire Act – Receiving Electronic Statements To Improve Retiree Earnings Act and the Retirement Savings Lost and Found Act, for example) but without widespread and sustained support the best hope for both domestic and expat retirement savers in the US is to have clear, comprehensive and consolidated advice.

Blacktower FM in the United States

Blacktower can help plan and manage your retirement assets as part of a personalised and cohesive retirement planning service that takes full account of any relevant cross-border regulatory opportunities and restrictions.

If you would like help planning for your future and would appreciate a specialist who can bring clarity and confidence to the process, speak with us today.

This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.

Other News

Retirement Account Rules and Restrictions for Non-Resident Aliens

Non-resident aliens are those people who are citizens of a country other than the United States but with legal permission to live and work within the US. If you are in this position you should be aware that your status means you have some very particular obligations to the Internal Revenue Service (IRS) and that these have an impact on any 401k or IRA accounts you might hold.

So, what are the 401k and IRA management considerations for US non-residents and what are some of the restrictions affecting non-residents in relation to these accounts?

Read More

The Best Retirement Strategy – Begin Early and Stay Disciplined

Things are not getting any easier for younger retirement savers. It is predicted that by 2060, the number of Americans who are 65 or older will have risen from 46 million today to more than 98 million – with this demographic accounting for 24 percent of the population (up from 15 percent today).*

Add to the mix the fact that college fees are at record high levels, entry-level wages are low and housing costs are high and a picture quickly establishes of increased financial pressure on a whole generation of retirement savers. In fact, for many aged 18 to 34, simply being a retirement saver may seem like a distant dream as, according to a report by Merrill Lynch and Age Wave, this demographic owes an average of $3,700 in credit card debt.**

Read More

Get in touch for more information

To contact us about this or any other news, please complete the form below

"*" indicates required fields

Name*
Hidden
Hidden
Hidden
Hidden

Select your country

Please select your country of residence so we can provide you with the most relevant information: