Tamiko Toland

Annuity Yoda | consultant | former journalist who plays nicely w/quants & actuaries | opinions my own

[Tamiko Toland @TamikoToland]

@TerriGerstein https://t.co/XcMMeuXztC

[Tamiko Toland @TamikoToland]

Is this really the time for plans to cover the bases of retirement income? My position is well known but @FinkeonFinance and @btreichelesq will paint the picture from where they sit!

[Bonnie Treichel @btreichelesq]

See you on June 23 at 2 pm ET to learn about #retirementincome with @FinkeonFinance. https://t.co/CsIchVC3u9

[Michael Finke @FinkeonFinance]

Well-written article by @RJPIII for @MarketWatch on contingent deferred annuities, which allow advisors to hold investments outside an annuity wrapper and buy pure retirement income protection.

A fascinating concept.

Comments by @TamikoToland @RetireOne
https://t.co/UH1uh0HwLw

[Matthew Wolniewicz @mwalno]

@TamikoToland @TIAA Congrats @TamikoToland - good to have you as an advocate for #guaranteedincome in #401k

[Tamiko Toland @TamikoToland]

@AnnuityGov @TIAA Thanks!

[Tamiko Toland @TamikoToland]

It's official! I'm jumping on board with @TIAA on Monday as Managing Director, head of lifetime income strategy and market intelligence. What an incredible opportunity to be part of a team that is committed to making a difference.

[Tamiko Toland @TamikoToland]

@mwalno @TIAA We're on a roll, baby!

[Tamiko Toland @TamikoToland]

@FinkeonFinance @washingtonpost Oh oops that was from the @SingletaryM piece but it also appeared in that particular article. I have the receipts.

[Tamiko Toland @TamikoToland]

@FinkeonFinance Great article but come on, @washingtonpost -- that ad in the middle of that article is ironic (to say the least).

[Tamiko Toland @TamikoToland]

@KFILE I went to PT for it and, in addition to the stretching, did weighted calf raises. I continue to do calf stretches (straight knee+bent knee and deep squat) and the calf raises but it turns out I don't have PF, so I can't say whether it worked for me.

[Tamiko Toland @TamikoToland]

🤔 How does a plan fiduciary select and monitor lifetime income solutions?

Good question: it's not the same as evaluating investments. The key is to focus on fair comparisons and outcomes, not just fees.
Thanks to @nevinesq at @NAPA401K @usa_retirement
https://t.co/OBzdxBq9ne

[Tamiko Toland @TamikoToland]

Everybody should get $ for their work. Compensation isn't the enemy, and it's counterproductive to suggest that there's a "pure" comp model. Can people respond to incentives in a way that hurts clients? Absolutely. Every comp model has incentives--let's not pretend otherwise. END

[Tamiko Toland @TamikoToland]

💡The same applies in retirement! The savings mode and fear of uncertainty cause many retirees to underspend. It is hard to shift this mentality and an annuity is a great tool to give people permission to spend. Emotion is a huge part of $ decisions. 1/x

[Erik @eriksx]

Financial planning isn’t all about saving more & accumulating wealth.

Sometimes the best advice is to spend the money, create memories, & live for today. Let’s encourage clients to spend on things that bring them joy.

[Tamiko Toland @TamikoToland]

Another 💡: the connection between comp model and client recommendations is understandable but there is no "pristine" comp structure. Fee-based rewards asset growth, not spending. I'm not implying that RIAs do the wrong thing for clients based on comp. 3/x

[Tamiko Toland @TamikoToland]

But by the same token, a commission model is not fundamentally 👹. Financial professionals should do the right thing for clients and things like reliance on referrals encourage good behavior. Lower-wealth clients need help & may be a poor fit for most fee-based advisors. 3/x

[Tamiko Toland @TamikoToland]

We often talk about people having a dysfunctional relationship with $ when they are in a bad situation and need to make changes. But it happens on the flip side with under spending. Sure, a good problem to have but savers deserve to enjoy the fruits of their diligence. 2/x

[Tamiko Toland @TamikoToland]

@benjipitts @nevinesq @NAPA401K @btreichelesq It depends. Some do exactly that (fitting within the fixed income sleeve) and some provide a guarantee around the entire TD portfolio. There are other solutions, too. Most are geared to work as QDIA.

[Tamiko Toland @TamikoToland]

🤔Why should a plan sponsor go through all the work and take on the risk of adding lifetime income solutions?

Check out the 🎯 answer to this and 4 more 🌋❓s here:

https://t.co/OBzdxBq9ne

Thanks to @nevinesq and @NAPA401K for sharing. @btreichelesq

[Matthew Wolniewicz @mwalno]

❤️-Sponsors DO want employees to remain IN #401k plan through #retirement & participant gets #fiduciary advice, institutional pricing & hopefully access to #guaranteedincome solutions! Ps. It’s also good for sponsors as those balances should be highest @davidmblanchett

[Tamiko Toland @TamikoToland]

@mwalno @RetirementRisks Aging is a privilege. :)