There’s a limit to other people’s money

There’s a limit to other people’s money

Last Monday, the city council in Seattle, Washington, voted to implement a special employee tax on all businesses with revenues of $20 million or more. The tax requires all those businesses to pay $275 annually for each employee. That is not quite as bad as the original proposal to make the tax $500 per employee, but it will still cause problems for both the city and the companies that have to pay it.

The big target of the tax is Internet retail giant Amazon, which has its headquarters in Seattle and employees about 45,000 people in the city. It is […]

Economic Security for All: Questions about Chris Hughes’ Guaranteed Income Proposal

Economic Security for All: Questions about Chris Hughes’ Guaranteed Income Proposal

Facebook and Economic Security Project (ESP) co-founder, Chris Hughes has a new book out. Called Fair Shot: Rethinking Inequality and How We Earn , the book is part memoir, part policy proposal. The memoir chronicles Hughes’ childhood growing up in a North Carolina working class family, his school days, including four years at Harvard, his co-founding of Facebook, his failure as owner of the New Republic, and his efforts trying to figure out how best to give away his new-found fortune. The things Hughes learned during this thirty-year journey led to the policy proposal part of the book.

Hughes advocates […]

Provider claims advisers need to consider fixed term annuities

Provider claims advisers need to consider fixed term annuities

By Carmen Reichman The industry should rethink the way it integrates risk in retirement planning and innovate around the mid-range of the spectrum, a provider has said.

Russell Warwick and Kim Lerche-Thomsen, managing director and chairman of retirement provider Primetime Retirement, said the market was too focused on matching risk-rated consumers with products at either end of the risk spectrum: lifetime annuities and drawdown.

It would help the retirement income market if more attention was given to solutions that sit in between, such as fixed term annuities, they said.The Financial Conduct Authority (FCA) and government have called for more product innovation […]

Guaranteed income is a no-brainer—just don’t call it an annuity

Guaranteed income is a no-brainer—just don’t call it an annuity

Those near or in retirement really like the idea of receiving a Guaranteed Lifetime Income (GLI), a study released Tuesday says. But tell them this is the same as an old-fashioned life annuity, and suddenly many lose interest.

That’s a pity because, as this column has long argued, there is a growing need for a Guaranteed Lifetime Income, particularly as employer-sponsored defined benefit pensions fall by the wayside.

The prevailing bias against annuities is in evidence again, with the results of a new 2018 Canadian Guaranteed Lifetime Income Study, conducted by Greenwald & Associates and CANNEX for two Canadian insurance companies.In […]

Carbon tax debate is distorted

Carbon tax debate is distorted

In the May 3 issue of the Cochrane Eagle Mr. Bob Lee responded to my letter published on April 26. I feel that it is necessary to respond to his letter in order to show how distorted the debate about the NDP government and the carbon tax in particular has become. There are so many things to comment on in Mr. Lee’s letter that it is hard to know where to begin. However, I will submit only some of my concerns, most of which will serve to address what is absent from Mr. Lee’s letter. First, every civilized society […]

Money for Nothing

Money for Nothing

Fair Shot Chris Hughes is a very wealthy man. But the cofounder of Facebook didn’t start out that way. His parents are first generation college graduates from small-town North Carolina, one generation removed from the hardscrabble working class of the Great Depression. As he tells it in his new memoir-cum-manifesto, Fair Shot: Rethinking Inequality and How We Earn , Hughes studied hard and won a scholarship to Phillips Academy Andover, a prestigious New England boarding school, followed by admittance to Harvard. There, he met Mark Zuckerberg and Dustin Moskovitz; the three started a little online college experiment that later […]

New Envestnet Insurance Exchange Integrates Insurance Solutions into Wealth Management Practice

Envestnet Advisor Summit , which is currently underway at the Ernest N. Morial Convention Center in New Orleans.

The Envestnet Insurance Exchange will seamlessly connect select insurance carriers and established account processing vendors with Envestnet enterprise clients, allowing advisors to deliver cohesive and consistent holistic advice by incorporating insurance solutions into the wealth management process. The exchange will service large financial institutions including bank wealth management, independent advisors, broker-dealers and Registered Investment Advisors (RIAs), among others. It will offer fixed, fixed-indexed, variable, contingent-deferred, and private placement annuities with leading insurance carriers.

"We’re launching the Envestnet Insurance Exchange in response to the […]

Guaranteed income is a no-brainer—just don’t call it an annuity

Guaranteed income is a no-brainer—just don’t call it an annuity

Those near or in retirement really like the idea of receiving a Guaranteed Lifetime Income (GLI). But tell them this is the same as an old-fashioned life annuity and suddenly many lose interest.

That’s a pity because, as this column has long argued, there is a growing need for a Guaranteed Lifetime Income, particularly as employer-sponsored defined benefit pensions fall by the wayside.

The prevailing bias against annuities is confirmed with the results of a new 2018 Canadian Guaranteed Lifetime Income Study, conducted by Greenwald & Associates and CANNEX for two Canadian insurance companies.In the study, almost half of the subjects […]

It’s Time for America to Embrace Guaranteed Income

Donor

https://www.theguardian.com/commentisfree/2018/feb/20/america-guaranteed-income-chris-hughes

Record low unemployment and record highs for the stock market don’t tell the full story of what is really happening in today’s economy. For many, a job used to mean stability: 40 hours a week, benefits, vacation days, sick leave and retirement savings plans. But according to a 2016 study by Princeton economists, nearly all of the jobs created in the preceding decade were part-time, contract or temporary. Today a job is more often than not just an unreliable gig.This didn’t happen spontaneously. Our political leaders over the past 40 years lowered taxes on corporations and the […]

Stockton, CA Gets Ready To Experiment With Universal Basic Income

Stockton, CA Gets Ready To Experiment With Universal Basic Income

With alleged record low unemployment throughout the nation, the reality in Stockton is radically different. The Technocrat idea of Universal Basic Income (UBI) is being explored as the only solution: simply giving money to citizens. ⁃ TN Editor

Wage stagnation. Rising housing prices. Loss of middle-class jobs. The looming threat of automation. These are some of the problems facing Stockton and its residents, but the city’s mayor, Michael Tubbs, says his city is far from unique.

“I think Stockton is absolutely ground zero for a lot of the issues we are facing as a nation,” Tubbs said.Stockton is one of many […]