Video Link: https://www.youtube.com/watch?v=JH1CwHYktS8

16-08-2012 21:43 Novak Djokovic talks about Nikolay Davydenko's retirement in their third-round match Thursday at the Western & Southern Open. Video courtesy TennisTV.com. Watch live matches:

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Djokovic On Davydenko's Retirement In Cincinnati - Video

This post comes from Richard Barrington at partner site MoneyRates.com.

When it comes to retirement savings, many Americans seem to be "winging it" -- or heading for retirement without a realistic plan of how to fund it.

Or so suggests a recent survey (.pdf file) by the Transamerica Center for Retirement Studies. The survey indicates that "retirement planning" is a very loose concept among Americans. In many cases, the approach could be better described as wishful thinking.

The following are some points of concern raised by the study:

Savings rates remain very low.

The median contribution level for workers in 401kor similar plans is 7%. This is up from 6% in 2011, but still too low a savings rate to fund a comfortable retirement. Think about it: Retirement is likely to last roughly half as many years as a career. How can you expect to replace most or all of your income if you are settingaside only 7% of that income each year? With diminished expectations for the stock market, and bond yields and savings account interest rates approaching zero, most people are not going to be able to grow their way to adequate funding. Saving more is the only way to make it work. (Post continues below.)

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'Winging' retirement plans

NEW YORK (BankingMyWay) -- Talk to any financial adviser about how to save for retirement and you'll get two instructions: save as much as you can, and focus on asset allocation -- your portfolio's diversification between stocks, bonds and cash.

But a new academic study finds this to be misplaced emphasis. Advisers should be preaching the bigger, more dependable benefits of working longer, trimming spending and planning on using a reverse mortgage, the research suggests.

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On the plus side, this means many people have more control over their financial fate than they think, because they're less dependent on the whims of the stock market and can rely a bit more on safe holdings like bank savings that make it easier to sleep at night. The downside, of course, is that spending less and working to 70 isn't so appealing.

A careful look at asset allocation tools

Where to keep a rainy day fund.

Using home equity in retirement. Follow TheStreet on Twitter and become a fan on Facebook.

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Road to Retirement Shouldn't Be Paved With Stocks

The individually designed units in New Zealand's first large retirement village were pretty comfortable.

The sunny units at Parkwood, about an hour from Wellington, ranged from 70 to 110 sq m, then about the average size for a new house, with a decent-sized master bedroom and guest room. It was the early 1970s so nobody expected ensuites or wifi for their iPads. That was then.

When the newest units were built about fifteen years ago the standard floor was 142 sq m with some units reaching 160 sq m. Older units were being puffed up with ensuites and open showers and walls were being knocked out for open plan living areas.

"There is the odd bath floating around because that is what people want but they'll be whipped out as soon as the next person comes," says manager Mark Rouse.

He mentions the new shared swimming pool, the gym, and the popular yoga classes. "At some point in the future I would expect wifi in our social centre."

If Parkwood, a charity, feels the need to upgrade, the pressure is greater on stock-market-listed retirement villages such as Summerset, Ryman and Metlifecare. New developments have barely paused for breath during years of widespread slump for ordinary residential construction.

"Ryman is the fourth biggest residential builder in the country," says John Collyns of the Retirement Villages Association. "We are signing up new villages every two or three weeks."

Statistics NZ began tracking new retirement units in 2009 after it noticed an upwards surge. Since then developers have built almost 2,000 new units worth a combined $263 million. Half of them were built in the last year, says Collyns. Forget students. In some months, every new apartment built in New Zealand was for retirees.

"The whole social area of a village is undergoing quite a substantial re-think," says Collyns.

"Restaurants and cafes are now very common, and libraries and computer rooms and decent cinemas are quite standard in the new villages."

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Retirement villages go cool

The rapid development of the exchange-traded fund industry has brought to market some of the most useful and intriguing products for all walks of investors. With more than 1,400 ETPs offering exposure to just about every asset class, developed and emerging economy, and investment strategy, the potential portfolio combinations are endless. Although investors can dip into some of the more complex andintriguingfunds, most choose to select a number of ETFs that will allow them to build a well-diversified portfolio. But thanks to the innovativeness of ETF issuers, there is now an entire line of products that takes this strategy to the extreme, offering access to a complete portfolio through a single equity ticker [see alsoHow To But The Right ETF Every Time].

Enter target retirement date ETFs, the ultimate in passive, buy-and-hold investment strategy. To pick which of these funds is right for you, investors must simply select the ETF that corresponds to his or her intended retirement date (e.g. 2030 fund), the rest is left to the ETFs manager. These hands-free portfolios are essentially designed to shift asset allocations with an investorss changing risk profile. For example, as an investor approaches his or her retirement, a higher allocation will go to fixed income products, while a younger investor would have a heavier weighting towards equity exposure.

Heres a look at six iShares Target Retirement Date ETFs and how these funds change over time:

As depicted graphically above, the S&P Target Date 2040 Fund (TZV) has a much higher allocation to domestic and international equities, while the S&P Target Date 2015 ETF (TZE) has a larger weighting in fixed income. Logically, this makes sense since an investor with a target date of 2040 is likely much younger than someone who wishes to retire in 2015. And as such, a person who has a longer time horizon over which they are able to recover value in event of major losses can have more exposure to riskier asset classes, like stocks, which may be more volatile but could provide a more meaningful return. But for those who plan to retire in the near future, a low risk tolerance is more appropriate since these individuals have less time torecuperatefrom any adverse movements [see also5 Worst ETF Strategies Of The Last 5 Years].

Over time, these target retirement date ETFs will evolve, shifting allocations to asset classes with risk profiles that are more inline with investors objectives. So in the next 25 years, one would expect the 2040 fund to gradually shift away from equities towards bonds, eventually forming a portfolio that is very similar to how the 2015 fund looks today.

To achieve the different portfolio compositions, target retirement date ETFs actually invests in other exchange-traded products, essentially becoming a sort of fund of funds. iShares, for example, invests in its own ETFs, includingthe S&P 500 Index Fund (IVV), Barclays Aggregate Bond Fund (AGG), MSCI EAFE Index Fund(EFA), and S&P Midcap 400 Index Fund (IJH) [see our Retirement ETFdb Portfolios].

The adaptability of these funds is perhaps one of the most obvious reasons investors choose to invest in target retirement date ETFs. Once one of these ETFs are purchased, investors can sit back and let the security shift allocations to the most appropriate asset classes which best reflect the holders risk profile. Furthermore, investors wont have to sift through the over 1,400 ETPs to build their long-term portfolios. Instead, a single equity ticker provides fine-tuned exposure to a diversified basket of securities. But because these ETFs are funds that hold other ETFs, holders will have to burden a double layer of fees. While these expenses might be relatively low, they can add up over a long period of time. Potential investors should also take a close look under the hood of these ETFs since they only follow general rules to determine allocations, meaning that the resulting portfolio may not be exactly in line with your investment objective.

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[For more ETF analysis, make sure to sign up for ourfree ETF newsletteror try afree seven day trial to ETFdb Pro]

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Visualizing Target Retirement Date ETFs

ST. PAUL, Minn.--(BUSINESS WIRE)--

Retirement plan participants can now find a QR (quick response) code on their quarterly Securian account statements and envelopes that provides instant access to account information.

When scanned with a smartphone equipped with a camera and the reader application, the QR code directs participants to Securian Retirement's mobile site to obtain current account balances, contribution rates, and personal rates of return on their retirement accounts.

Participants want to see their information anytime, anywhere. The QR codes and mobile site give them access to their accounts whether theyre at the airport, the mall or sitting in front of the TV, said Rick Ayers, vice president, Retirement Plans.

Securian Retirements mobile site, designed and built in-house, does not attempt to replicate all the information on the full website. Rather, it provides the information people want frequently and quickly. The mobile site appears automatically when viewed from a smartphone and is designed for easy use.

We pushed the account contact links up to the top of the screen, kept the copy concise, included one-touch embedded links and made the navigation simple and intuitive, said Ayers.

Plan participants also can go to the full website to sign up for electronic statements rather than receive paper statements through the postal service.

Since 1880, Securian Financial Group and its affiliates have provided financial security for individuals and businesses in the form of insurance, investments and retirement plans. Now one of the nations largest financial services providers, it is the holding company parent of a group of companies that include Minnesota Life Insurance Company and Securian Life Insurance Company, a New York admitted insurer.

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QR Codes Provide Quick Securian Retirement Account Access for Employees

(Money magazine) -- I'm 46, self-employed and clueless about retirement. I can afford to put away $500 a month, but don't even know where to begin. I'd like to retire at 65, but wonder if that's even possible. Can you help? -- George, Alsip, Illinois

You're getting a late start here. Ideally, by the time you're in your mid-40s, you should already have savings equal to three to four times your annual income tucked away in retirement accounts, according to "Your Money Ratios" author Charles Farrell.

That figure assumes you'll want to retire at 65 on 70% to 80% of your pre-retirement income. It also assumes your savings will earn about four-and-a-half percentage points more than inflation each year, and that you'll continue to save 15% of income annually until age 65.

But let's just focus on what you need to do now. If you start saving now and stay diligent, you can improve your retirement prospects dramatically.

Many people in your position think picking the best investments is the key. Not so. Saving is much more crucial.

Get the ball rolling by putting that $500 a month you already know you can afford to save into an IRA account, which you can open at any mutual fund company or investment firm. Don't obsess about whether to go with a traditional IRA or a Roth IRA. If you prefer getting a tax deduction now, go with a traditional. If you'd rather forego the deduction today for the prospect of tax-free withdrawals in retirement, do the Roth. If you're unsure, do the traditional, as you can always convert to a Roth later.

Chances are you're eligible to contribute up to the maximum of $5,000 this year ($6,000 for people 50 and older), but you can check by clicking here.

To keep things simple, I suggest you invest your IRA stash in a target-date retirement fund. You just choose a fund with a date that corresponds to when you'd like to retire (2030 or 2035 in your case) and you get a ready-made portfolio that's appropriate for you now and becomes more conservative as you near retirement.

We highlight the target funds of Vanguard and T. Rowe Price on our MONEY 70 list of recommended funds, but both companies require a minimum initial investment of $1,000. You could open an IRA and invest in a target fund with Charles Schwab for as little as $100.

Once you've set up your IRA account and have savings flowing into it, you should start thinking about how you might improve on your planning for next year and beyond.

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Late start retirement plan - 19 years to go

LOS ANGELES--(BUSINESS WIRE)--

Transamerica Retirement Services today announced that its plan participant and plan sponsor websites have both been recognized with an Excellent designation through DALBARs first quarter Defined Contribution WebMonitor program, outperforming more than 40 other retirement plan provider websites rated in the study.

Transamericas plan participant website earned a score of 93.35 out of a possible 100, an increase of 3.33 points since 4Q 2011, surpassing its own record WebMonitor score achieved by a plan participant website in the studys history. This is the second consecutive calendar quarter that Transamericas plan participant website has set a record score for the DALBAR report.

DALBARs reports are an important measure of how well we, and the industry, are serving plan participants and sponsors, said Stig Nybo, president of Transamerica Retirement Services. This honor is emblematic of Transamericas unwavering dedication to providing plan participants and sponsors with best-in-class online resources and guidance to help them reach specific retirement goals.

Furthermore, Transamericas plan sponsor website earned an Excellent designation the only site to do so among 42 peers and ranked in top position in DALBARs analysis of provider websites for retirement plan sponsors. Transamericas plan sponsor website has won this recognition for 10 consecutive calendar quarters.

Transamericas plan sponsor and plan participant websites have also been awarded DALBARs Seal of Excellence for eight consecutive years.

Each quarter, DALBAR identifies and recognizes industry-leading websites that attain a top-10 ranking. Rankings are determined by the overall score achieved against DALBARs criteria in five categories: functionality, usability, behavior centric attributes, content currency and consistency.

About DALBAR

DALBAR, Inc. is one of the financial communitys leading independent experts for evaluating, auditing and rating business practices, customer performance, product quality and service. DALBAR has earned recognition for its consistent and unbiased evaluations of investment companies, registered investment advisers, insurance companies, broker/dealers, retirement plan providers and financial professionals. DALBAR awards are recognized as marks of excellence in the financial community.

About Transamerica Retirement Services Corporation

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Transamerica Retirement Services Recognized by DALBAR as Top Provider Website for Retirement Plan Participants and ...

COLUMBUS, Ohio--(BUSINESS WIRE)--

In a commitment to growth and to develop executive talent, Nationwide Chief Executive Officer Steve Rasmussen announced today that the leaders for the companys retirement plans business and its property & casualty direct channel will be switching roles. Larry Hilsheimer will lead Nationwide Retirement Plans and Anne Arvia will lead Nationwide Direct, Affinity and Growth Solutions.

Nationwide is a strong company with many talented people. We remain fully committed to our public and private sector retirement plan business partners, to our direct, affinity and growth lines and to our members, said Rasmussen. My philosophy is that fresh leadership perspective and successful ideas from one area of the company will lead to benefits in another. We made similar leadership changes back in 2009 that were beneficial for our leaders and the company as a whole. Im confident the end result of the changes we are announcing today will make us even stronger and better able to deliver our On Your Side promise.

Larry Hilsheimer has been named President and Chief Operating Officer of Nationwide Retirement Plans. Nationwide is one of the leading providers of public and private sector retirement plans in the country. He will retain oversight of Nationwide Bank. Hilsheimer joined Nationwide as executive vice president and chief financial officer in 2007 coming from Deloitte & Touche USA, LLP where he served as partner, vice chairman and regional managing partner. He has served on the boards of several community organizations, including Nationwide Childrens Hospital, Battelle for Kids, the Columbus Downtown Development Corporation and The Ohio State University Alumni Association.

Anne Arvia has been named President and Chief Operating Officer of Nationwide Direct, Affinity and Growth Solutions (NDAGS). Arvia currently serves as the leader for Nationwide Retirement Plans. NDAGS includes Nationwides direct property & casualty sales channel, specialty insurance, affinity partnerships, and Veterinary Pet Insurance. Arvia joined Nationwide in 2006 as president of Nationwide Bank prior to assuming her role as leader of Retirement Plans in 2009. Prior to joining Nationwide, Arvia spent 15 years at ShoreBank in Chicago.

Additionally, Rasmussen announced that Mark Berven has been named Executive Vice President and Chief Strategy and Product Management Officer. In this new role, Berven will oversee strategy for the Nationwide enterprise and the product organization for property & casualty business lines. Berven joined Nationwide in 1994 and has served as a regional vice president and most recently as senior vice president of product and pricing for all P&C operations.

The changes are effective immediately. Hilsheimer will report to Kirt Walker, President and Chief Operating Officer of Nationwide Financial Services. Arvia will report to Mark Pizzi, President and Chief Operating Officer of Nationwide Insurance. Berven will report to Rasmussen.

About Nationwide

Nationwide Mutual Insurance Company, based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A+ by both A.M. Best and Standard & Poors. The company provides customers a full range of insurance and financial services, including auto insurance, motorcycle, boat, homeowners, pet, life insurance, farm, commercial insurance, annuities, mortgages, mutual funds, pensions, long-term savings plans and specialty health services. For more information, visit http://www.nationwide.com.

Life insurance is issued by Nationwide Life Insurance Company or Nationwide Life and Annuity Insurance Company, Columbus, Ohio.

Originally posted here:
Nationwide Names New Leaders for Retirement Plans and P&C Direct Channel

WINDSOR-ESSEX, ON, Aug. 14, 2012 /CNW/ - Almost four years after they joined forces to boost the benefits of their region as an active retirement destination, the Windsor-Essex Active Retirement Initiative (WEARCI=WE-ARE-KEY), continues to attract new residents from across Canada at a steady pace.

Despite recent national reports indicating lower home and condo prices, declining sales and threats of a housing correction, the country's southernmost peninsula is bucking the trend. WindsorEssex is enjoying gains in both resale properties and new construction as growing numbers of boomers discover the region's appealing lifestyle and opportunities for newfound wealth.

A recent survey completed in June by The Windsor-Essex County Real Estate Board to update WEARCI's progress, and conducted with 42 per cent of the area's 840 REALTORS, indicated 225 new residents age 50-plus have relocated to the WindsorEssex region, investing $56 million in properties between October 2011 and June 2012.

Combined with surveys conducted between July 2010 and October 2011, WEARCI's latest survey results now bring the total to 885 new residents age 50-plus purchasing $228 million in real estate throughout the WindsorEssex region since the marketing initiative launched in 2009.

"We offer a unique location and lifestyle often misunderstood and overlooked, until now," stated Krista Del Gatto, Executive Officer of the Windsor-Essex County Association of REALTORS (WECAR), and volunteer President of the WEARCI organization. "Our initiative is working and returning economic spinoffs to our communities. The region is growing in awareness as the preferred destination for active retirement living," added Ms. Del Gatto.

Surveys show the nine communities that shape the 100 Mile Peninsula and Pelee Island region are attracting over 70 per cent of new residents from Ontario with 34 per cent from the Greater Toronto Area. Western provinces account for 20 per cent; Quebec and eastern provinces, 4 per cent; U.S. 2 per cent and International 3 per cent.

Ms. Del Gatto says the 100 Mile Peninsula advantage is beginning to 'register' especially among homeowners in high-priced markets who have the ability to cash out and relocate to similar or larger properties for 30 per cent - 60 per cent less, a move that could mean retirement five-ten years earlier.

Matt Marchand, President and CEO of the Windsor-Essex Regional Chamber of Commerce, also a WEARCI founding partner, said the organization has created the RetireHere Show to provide families considering a lifestyle change as well as small business owners interested in servicing the age 50-plus consumer, a venue for an 'up-close and personal' overview of the region and its rising popularity.

The first RetireHere Show is scheduled for the Greater Toronto Area, September 28, 29 at the Toronto Don Valley Hotel.Details are available at RetireHere.ca

About WEARCI

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Ontario's Retirement Hot Spot Continues New Resident Gains, Increased Real Estate Investment Despite National Downturn