Press Archive 2008

2008

• Retirement Rescue

  Stay on the job. Defer spending. Grit your teeth and take a hard look at your portfolio.

  In 2006 Michael and Lynn Neff, now 60 and 61, thought they had retirement figured out. He quit his corporate marketing job, she shut down her Washington, D.C. educational testing business and they retreated to a $1 million, 4,335-square-foot waterfront home in Irvington, Va. (pop. 650), where he would pursue a photography career and she would do a little consulting. They sank $160,000 into renovations and bought a $57,000 fishing boat.

  Forbes.com, December 2008

• Advisers Fret that Clients Will Trim 401(k) Participation if Matches Are Cut

  Financial advisers are worried that if more employers eliminate 401(k) matches, it will cause already cash-strapped and worried clients to reduce or halt their contributions.

  Their concern comes on the heels of an announcement last month by Detroit-based General Motors Corp. that it is temporarily eliminating matching contributions for salaried workers.

  Investment News, November 2008

• Don’t Go Into Debt Assuming Everyone Is Going Into Debt

  Imagine this: you’ve made it to the Final Jeopardy round and game show host Alex Trebek unveils the final
  category question: Consumer Financial Concerns. You bet everything you have and would even bet the
  credit union’s assets if you could, not even bothering to save that final $1 in the event your two fellow
  contestants are also wrong. And why not? You’re a credit union professional well-versed in consumer
  finance who only grows more confident when Mr. Trebeck reveals the Final Jeopardy answer/question:
  “It’s the No. 1 reason consumers are calling financial assistance/counseling hotlines in October 2008.”

  You race to write down your question/answer, “Worries over debt,” self-assured you’ll be headed to the
  next day’s competition. But in a minute or so you’re going to find yourself headed home.

  At least that’s according to one company that offers financial planning and counseling services to credit
  union employees and members, which says it believes many consumers have put their debt concerns
  behind them and are now mapping out plans to deal with their problems and build wealth.

  Credit Union Journal, October 27, 2008

• The Dawning of an Industry: Financial education is vital to navigate today’s tough times

  With gas prices and foreclosures at an all-time high, debt levels soaring, and paltry savings rates that Americans are infamous for, consumers are in dire need of financial help–so much so that financial education is becoming an industry.

  Investment Advisor, October 2008

• Successfully Saving: Tracking retirement concerns during a falling market

  As the level of responsibility an individual has in saving for retirement increases, combined with a boost in longevity, especially for the well off, and healthcare expenses eating up a bigger-than anticipated chunk of those savings in retirement, the troubled markets of 2008 may drive clients into a frenzy, anxious about how they are supposed to save for retirement while there’s less money to go around.

  Investment Advisor, June 2008

• Behavioral Change Results (4th Quarter of 2007)

  Summary of Behavioral Change Survey Results from over 100 workshops conducted for State of California Public Employees from October 1, 2007-December 31, 2007

  Financial Finesse, Inc., January 2008