In this week's "The FIDx Five," we focus on the top news items that stood out to us this week.
Cautious Investors = Annuity Interest
Annuity sales are up 17%, to $224 billion this year, according to LIMRA. “MarketWatch” dug into what factors are contributing to a historic 2022.
Source: Marketwatch, “While Stocks and Bonds Plunge, Sales of These ‘Safe’ Investments Are Booming,” 12/1/22
Resurgent Inflation Creates Retirement Questions
A growing crisis for future retirees is now front and center. The portfolios of those closest to retirement have seen a 17% hit since January.
Source: The Economist: “Can You Afford to Retire?” 12/6/22
Exploring Artificial Intelligence
Expectations are that AI will expand even further into financial services in 2023. Discover a few “must-haves” for practical AI implementation.
Source: Forbes: “AI Offers Fintech Much More Than Curb Appeal,” 12/6/22
A Flight to Safety?
More than half of the fastest-growing annuity issuers saw sales last quarter that were more than double from a year ago. In fact, 17 out of the 30 fastest-growing issuers recorded sales that were at least 117% higher.
Source: Life Annuity Specialist, “The 30 Fastest-Growing Annuity Issuers Right Now, by Size,” 12/5/22
Up Next for Robinhood: IRAs
In a move to diversify away from day trading, Robinhood is getting into retirement. It’s promising to match 1% of eligible contributions that customers put into their accounts.
Source: U.S. News & World Report, “Robinhood Takes on Retirement in Search for More Growth,” 12/5/22
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