WrapManager's Wealth Management Blog
When life changes, we can help you thoughtfully respond.

Seton McAndrews

CFP®, Vice President Investments

Recent Posts

Do You Have a Retirement Income Plan? Most Retirees Don’t

Posted by Seton McAndrews | CFP®, Vice President Investments

October 11, 2017

The key word in the title of this article is “income.” Many retirees believe they may have a retirement plan (at least generally speaking), but when it comes to having a retirement income plan, the numbers don’t look so good.

According to new research from LIMRA Secure Retirement Institute, “only 35% of retired clients and 38% of pre-retirees who work with an adviser have a formal written retirement income plan (emphasis ours).”1

Do you have one?

Not having a formal, written retirement plan and retirement income plan may decrease the confidence many retirees feel about having enough money in retirement. Unfortunately, with decades of retirement education and growth in the advisor business, retirees are not getting much more confident about retirement security. According to the Employee Benefits Research Institute, in 1993, only 18% of workers felt “very confident” about being able to afford a comfortable retirement. Fast forward to 2016, and there are still only 18% of workers who feel “very confident.”2

When considering that the Dow Jones Industrial Average has risen more than 500% over the period from January 1993 to December 2016, one would think that retirement confidence would be higher. But something is clearly amiss.  

[+] Read More

Retirement Planning Retirement Income Strategy

The Financial Risks of Cognitive Decline

September 20, 2017
When it comes to investment planning and setting up plans for life in retirement, it would be wonderful if we could just focus on growth, ... [+] Read More

Concerned About the Equifax Breach? Here’s How to Freeze Your Credit

September 11, 2017
Over the past few days we’ve had many clients mention their concerns about the Equifax data breach, which got us talking about how to ... [+] Read More

How “Familiarity Bias” May Impact Your Investment Decision-Making

July 18, 2017
It’s no secret that investors have a tendency to "get in their own way” when it comes to making investment decisions. As we have written ... [+] Read More

What is Probate? Why & How to Avoid It

June 22, 2017
Back in mid-May, I wrote an estate planning article about the late artist and global music phenomenon, Prince. The objective of the piece, ... [+] Read More

Chasing Heat? You May Get Burned.

June 7, 2017
The Information Technology sector has been on a roll so far in 2017. The returns for the sector year-to-date are nothing short of ... [+] Read More

Leaving a Legacy That Spans Generations

May 16, 2017
When most people think of the late artist Prince, they think about a global music phenomenon with unforgettable pop hits and an ... [+] Read More

Is Hiring A Financial Advisor Worth It?

April 12, 2017
Editor's Note: This post was originally published July 2016 and was updated in April 2017 with new information for your benefit. Investors ... [+] Read More

How Will Rising Interest Rates Affect Your Investment Portfolio?

March 30, 2017
On March 15, the Federal Reserve raised interest rates for the first time in 2017. Federal Reserve Chairman Janet Yellen moved the ... [+] Read More

Retiring in America: 3 Practical Tips to Help Set Your Course

March 13, 2017
Retirement planning in America is no simple task. Whether it’s navigating the ever-shifting tax code, factoring-in the rising cost of ... [+] Read More