What The Press Is Saying

New retirement tool tracks hidden investment returns

With the death of the fiduciary standard and the inception of the SEC’s Regulation B.I. — which opponents liken to a “Fiduciary Lite” rule — one hybrid robo advisor is looking to a new reporting tool to help push a higher standard of client care.

United Income Launches Total Wealth Return Solution

United Income, a digital investment advisory firm designed for investors 50 and older, has introduced a “total wealth return” solution that analyzes the impact of taxes, advisory fees and retirement benefits, including Social Security and investment withdrawals, in order to maximize retirement income.

United Income Encourages Radical Reporting; They Have Just the Tool for It

The automated investment platform built for those nearing retirement, founded by Morningstar’s former chief innovation officer Matt Fellowes, is calling on the industry to report a “total wealth return” for each client in lieu of simply reporting investment returns.

5 Tips for Managing Your Investments in Retirement

United Income is a newer robo advisor designed especially for retirees.

This neglected population could get some relief if proposed 401(k) changes happen

Allowing multiple employers to create a plan decreases cost per employer, said Elizabeth Kelly, senior vice president of operations at financial firm United Income, who was also special assistant to President Obama on the White House National Economic Council.

What baby boomers share in common with millennials: Prospective business

Matt Fellowes, the former chief innovation officer at Morningstar and current CEO of data-driven money manager United Income, opened the firm to the public nine months ago with no assets under management, he said. The Washington, D.C.-based firm’s next ADV will show $430 million in AUM, according to Fellowes.

You’re probably going to join the sandwich generation. Here’s how to protect your finances — and sanity

At United Income, to help clients navigate through the process of financial planning, they offer clients a service that allows them to model many possible life outcomes, including caring for a child at the same time as an aging parent.

Golf isn’t the only thing keeping seniors busy

“The irony is the seniors who find it the easiest to work don’t need the money,” said Elizabeth Kelly, senior vice president of operations at United Income, a money management company focusing on older investors.

How to Plug the 3 Leaks That Can Sink Even the Best Retirement Plan

In a report published earlier this year, Fellowes and his colleagues noted that while investment management costs for retail investors have dropped by more than 50% over the past 35 years, the benefits of lower prices may be undermined by other costs that aren’t tied to fees. They include taxes, mismanagement of Social Security, and subpar investment returns.

Why the 4 Percent Withdrawal Rate Is Obsolete

Ultimately, "the 4 percent rule is like telling someone to drive 40 miles per hour without knowing how much traffic they're in," says Matt Fellowes, CEO of United Income in the District of Columbia. "While it has the appeal of being simple, it's also incredibly reckless."

Still looking for the best place to retire? This might be perfect for you

Despite the constant drumbeat about the troubled financial lives of retirees and all of the ink spilled on where they should move once they stop working, retirees are apparently both wealthier than ever and not going anywhere, according to a study by United Income, a financial advisory firm for older people.

Retirees Moving Less, in More Ways Than One

If you’re a financial advisor with retired clients, you’re likely aware that retirees today are living longer, healthier lives than those in past generations. But did you know that retirees are spending a lot of time in front of the television or that most retirees are not relocating to lower-tax, warmer-weather states? Those are just two of the surprising findings of a new study from robo-advisor United Income, called “The State of Retirees: How Longer Lives Have Changed Retirement.”

Why are retirees living longer, healthier and wealthier lives?

According to a United Income report, current retirees are healthier, wealthier, and living longer than any previous generation.

The number of 401(k) plan millionaires hits new high

Retirees are now wealthier than any previous generation, according to a separate report by United Income, a start-up that aims to apply big-data analysis to financial planning.

The U.S. is minting more millionaire retirees than ever. But the ultra-wealthy are pulling away

American retirees are healthier and wealthier than ever. But wiser? A new report throws a little doubt on that notion.

A sure way for retirees to extend their "life"

If you could add more than two years to your life during retirement, would you be interested? That's a provocative possibility suggested by an insightful report titled "The State of Retirees: How Longer Lives Have Changed Retirement," prepared by the advisory firm United Income.

Retirees Have More Wealth Today Than Ever Before, Data Shows

We hear a lot about how seniors today are struggling to make ends meet, yet new data from United Income tells us that that retirees are doing better financially at present than ever before.

5 tips to live in retirement like this famous 98-year-old

One caveat: though all of these expenses might seem overwhelming, it doesn’t mean retirees should buckle down and spend no money, said Matt Fellowes, founder and chief executive officer of financial advisory firm United Income.

2 Things Advisors Might Not Know About Retirees

A new study from United Income upends some assumptions about where retirees live and how they spend their days.

One out of every 6 people retire as millionaires — here are 8 things you can do now to make sure you're one of them

One out of every six retired Americans is a millionaire. This is according to a report by online investing company United Income, which analyzed data from multiple sources, including the Federal Reserve Board and the US Bureau of Labor Statistics, to find out how retirees are faring now compared to previous generations.

America Is Minting More Millionaire Retirees Than Ever

Money manager United Income analyzed data from sources, including the Federal Reserve Board, the U.S. Bureau of Labor Statistics, the Census Bureau, the Internal Revenue Service, and the Centers for Disease Control, to examine the changing the lives of American retirees.

Retirees Never Had It Better, a New Report Says

Skeptical? I confess I was, too. But Matt Fellowes, the author of The State of Retireesstudy, who is founder and CEO of the money-management firm United Income and a respected retirement researcher, makes a compelling case based on the data he reviewed from the U.S. government, academia and think tanks.

Who's better off -- today's retirees or yesteryear's?

Retirees who think prior generations had it better than today's most likely don't realize just how good they've got it. That's one of the conclusions you could draw from a fascinating report prepared by United Income titled "The State of Retirees: How Longer Lives Have Changed Retirement."

Retirees can be too frugal with their spending

EBRI's findings that retirees appear to be frugal with their spending are consistent with an earlier report prepared by the advisory firm United Income.

The 6 Skills You Need to Be Financially Successful

Elizabeth Kelly, senior vice president of operations for online advisory firm United Income, believes the soft skills most important for financial success have to do with being deliberate about how money is handled and spent. "I think most of them fall into the bucket of consciousness," she says. According to Kelly, self-discipline is critical.

March 23, 2018

10 Tax Write-Offs You Shouldn't Overlook

However, not everything associated with volunteer work is deductible. "You can't deduct your time," says Davey Quinn, vice president of investments for online financial advisory firm United Income. You also can't deduct personal expenses not directly related to your volunteer work.

With the fiduciary rule reversed, here's what to do

Many financial institutions already act as fiduciaries on behalf of their clients, and they use that distinction as a marketing advantage. Examples include the Financial Engines (with over $100 billion of assets under management), the Garrett Planning Network, McLean Asset Management, and United Income.

Rising Interest Rates Could Make It Tough to Pay Off Credit Card Debt

"The reason why most people have credit card debt is not that they are going to Starbucks too much, or going to a department store and buying clothes. Credit card debt largely starts and is maintained because people don't have emergency savings," Fellowes said.

This state has had the most millionaires for the last 7 years

[Maryland] also has one of the highest shares of residents with graduate degrees - second only to Massachusetts, according to Matt Fellowes, founder and chief executive officer at United Income, investment advisor company based in Washington, DC.

Why Biggest Dow Jones Drop Won't Derail Your Retirement

"The result for investors is that their fees might go down, but taxes can go up because they are moving their money in a manner that unnecessarily drives up their tax bill," notes Matt Fellowes, United Income's CEO and Founder. "It's akin to robbing Peter to pay Paul. The consumer loses either way."

Are you Saving Enough for Your Future?

You may have heard that you should aim to save enough money to replace 80 percent of your income in retirement. "But that general rule of thumb has little to do with the individual," says Matt Fellowes, founder of the retirement-planning firm United Income.

Lower fees may not mean added retirement savings

"Lower prices are necessary and a huge accomplishment for the industry," Fellowes says, "And [they're] a win for investors, too. But, what do you do next? That's where we're picking up the ball and running."

3 Hidden Investing Costs You Can't Afford to Ignore

Yet there are hidden investing costs that most investors don't think about as much as they should, as a recent promotional study from investment advisor United Income discussed. With a rising number of robo-advisors featuring low expenses, it's important to turn your attention to these often-ignored costs that can turn what looks like a low-cost solution into a financial disaster.

12 Terms You Need to Know to Get Out of Debt and Clean Up Your Credit

When it comes to debt, no term may be more important than annual percentage rate, or APR . . ."Many people assume it's simple interest when, in fact, it's compounding," says Lara Langdon, vice president of research and algorithm development at online financial advising firm United Income.

Low-Cost, Low-Fee Investing Could Be Really Bad for Retirees

Prices for investment management have plunged in the past four decades but non-fee costs could undermine price savings for retirement savers in the long run, according to a recent report from United Income.

The High Costs of Low-Fee Investments

United Income, which launched an automated advice platform in September, analyzed 62 retirement investment funds and planning strategies…They found that more than three-fourths of retirement products have low relative prices, but also expose investors to "costs" outside the stated management fee.

Extreme Savers Share Secrets for Stashing Your Cash

"If you want to save more, you should automatically withdraw a portion of your paycheck each month to put into a savings account," Matt Fellowes, CEO of United Income.

Are Low-Fee Investments the Key to Long-Term Wealth? Not Necessarily

Investors are typically advised to focus on fee avoidance. But sticking to low-fee choices can open the door to other hidden costs.

Money Milestones: Your 70s is not the time to wind down retirement savings

Retirees in their 70s should also look at the amount of risk in their investment portfolios…But they also need to consider that this money will be invested for decades to come most likely, and they’ll need the money to stretch over that time period, said Davey Quinn, the director of investments at financial advisory firm United Income.

5 places where you may want to retire

“Retirees are taking the time to think much more holistically about what the best places are for them to live in after retirement than we’ve seen in the past,” says Matt Fellowes, founder of United Income, a Washington, DC-based financial technology company that provides money management services for retirees. Quality of life, healthcare services, transportation and proximity to friends and family members are all enticing seniors to open their minds to locations they may not have considered before.

Should Retirees Use Robo Advisers?

For clients who pay 0.8% a year, United Income takes on such tedious tasks as filing for Social Security and Medicare, something the other services don’t offer. . .You can create and update a financial plan and talk to an adviser up to four times without becoming a client.

6 Ways to Optimize Your Paycheck

"One big problem, among rich and poor alike, [is] people don't put away money for an emergency fund," says Matt Fellowes, founder and CEO of United Income. Having an emergency fund is crucial to avoid taking on debt, particularly high-interest credit card debt, when the unexpected happens.

Are You Putting Too Much Money in Your 401(k)?

A Roth account makes sense for most young workers, says Matt Fellowes, founder and CEO of United Income, a money management firm focused on retirement. If you’re just out of college, you’re likely earning a starting salary in your profession. That mean you’re in a low income tax bracket—or at the least, a lower bracket than you’ll be as you get more established and your earnings grow.

12 Ways You’re Sabotaging Your Chances of Being Wealthy

Matt Fellowes, founder and CEO of financial planning platform United Income, says too many people lack emergency savings. As a result, when unexpected expenses come up, they turn to their retirement accounts for cash. According to research Fellowes conducted for the website HelloWallet in 2013, a quarter of those with 401(k)s or similar accounts took withdrawals for nonretirement needs.

The Fintech start-up helping retirees with spending, not saving

Considering that everybody’s spending curve is different, it should be no surprise to learn that startups such as United Income are hovering around an industry ripe for disruption. A personalized plan to maximize the probability of achieving as many of an individual’s retirement goals as possible feels like a step in the right direction.

Lessons from US personal finance leaders

United Income is . . . a great example of what the advice world can do with technology. . . The full range of services within this price has to be seen to be believed. . . Digital advice firms in the UK should be very pleased it is unlikely to come here, as they would be facing some stiff competition. However, it should serve as inspiration in terms of the depth of services that can be delivered using automated solutions, and how technology can reduce the cost of advice.

Finally, a Retirement Calculator That Might Help You Retire

Now comes United Income, a new money manager backed by some of the biggest names in retirement, pitching big data as a solution. It’s deploying huge sets of stats on investment performance, retiree spending, longevity, and other crucial factors to simulate innumerable outcomes. The software estimates the chances that each client’s personalized retirement strategy will actually succeed, then refines the plan if it won’t, based on as many as 18 million simulations per client, UI said.

This Is Not Your Child’s Robo: New Service Targets Older Investors

United Income—which launched Monday with backing from Morningstar, Inc. MORN 1.31% and eBay Inc. founder Pierre Omidyar —has a “core focus on people ages 50 to 70 who are approaching retirement or are already retired,” says Chief Executive Matt Fellowes, whose resume includes a stint as Morningstar’s chief innovation officer.

Baby Boomers Get Their Own Retirement Robo – And A Pitch To Spend More

Say this for Fellowes: he’s built an intriguing platform with just $5.8 million in seed capital and recruited an impressive staff, in part from Morningstar itself. Moreover, capitalizing on his Washington, D.C. base and contacts, he’s signed up an all-star team of expert advisors.

This advisor wants to help with spending, not saving

One [United Income] feature that may have the greatest appeal is the ...[United Income Paycheck] which aggregates different retirement income streams to simulate a monthly paycheck, so retirees know how much they have to spend and can budget to that amount.

Morningstar-Backed Robo Aims at Older Clients

United Income, backed by Morningstar and eBay founder Pierre Omidyar, focuses on those ages 50 to 70 who are approaching retirement or retired, says CEO Matt Fellowes…The Washington, D.C. startup aims to help retirees turn their assets into retirement income. It offers advice on when to claim Social Security, which Medicare plans to buy, and how to tax-manage withdrawals from different accounts.

Latest digital launch: Amped advice for the new retired class

Instead of standardized expectations of mortality and income, United Income relies on the power of big data and proprietary algorithms to develop personalized plans….In so doing, it builds individualized forecasts for clients to determine further lifestyle spending and essentials, rather than relying on income replacement ratios alone.

United Income Launches New Money Management Solution for Retirees, Challenging Current Financial Planning and Investment Management Approaches

(Press release) United Income, an independent money management solution aimed at people nearing or in retirement, today announced the launch of its web platform and new money management approach for consumers. By combining new technology, new data, and human advisers, United Income offers holistic financial planning and investment management aimed at extending the life and potential of money.

The downside of seniors spending less to save more

A recent report by United Income found that Americans age 60 and over reduce their spending by about 2.5 percent per year.

How digital wealth upstarts can succeed

Matt Fellowes, former HelloWallet founder and CEO, is launching a new digital retirement savings management platform, United Income. Fellowes, who was also chief innovation officer at Morningstar, talks about the lessons learned from launching one digital startup and what steps incumbents must do to transition to a digital-first market.

One way to finance the golden years: Retire abroad

With older Americans increasingly responsible for their own financial security, workers are becoming steadily more pessimistic about their future economic prospects as they approach retirement age, according to a study by United Income, a startup that aims to apply big-data analysis to financial planning.

Readying for robos? A checklist for asset managers

But there’s plenty of reason to be critical of how the asset management industry’s embrace of digital has developed, says Matt Fellowes, former HelloWallet founder and CEO, who is launching a new digital retirement savings management platform, United Income…He outlined several steps incumbents will have to take in an interview.

Why retiring in America has become less appealing

“The big problem is that we are living longer and retiring earlier,” said Matt Fellowes, chief executive of United Income, a registered investment adviser that specializes in retirees.

The US is losing ground when it comes to retirement security

And as they approach retirement age, older Americans are becoming steadily more pessimistic about their future economic prospects, according to a separate study by United Income, a startup that aims to apply big-data analysis to financial planning.

Why regulation doesn’t have to mean restriction

Elizabeth Kelly, chief of staff at the United Income advisory firm in Washington D.C., called data portability critical to innovation…Streamlining the process to roll over 401(k)s would also help retirement planning, she says, calling it a “problem we should be able to solve.”

Hey, retirees: Go and spend some money

"Go spend some money" was my message...And based upon the report "Living Too Frugally? Economic Sentiment & Spending Among Older Americans," by Matt Fellowes, CEO of United Income, it's probably appropriate for a lot more people.

About 57 million Americans have no emergency savings

Older Americans have also become steadily more pessimistic about their economic prospects, according to a separate study by United Income, a start-up that aims to apply big-data analysis to financial planning.

Why Retirees Shouldn’t Shun the Stock Market

Americans age 65 and older were less likely than all other age groups to believe that the stock market would rise each year between 2002 and 2014, according to a recent study by United Income Inc., a registered investment advisor that serves retirees.

How to spend your money in retirement without dying broke

Americans are leaving increasingly larger sums of money behind, according to new research from Washington, D.C.-based advisory firm United Income.

Adults increasingly less optimistic over financial well-being, study says

According to a recent study by United Income, a startup financial planning service, adults are becoming less optimistic about future economic growth and financial health as they age.

Not saving for retirement tops Americans' greatest regrets

Older Americans have become steadily more pessimistic about their own future economic prospects, according to a separate study by United Income, a startup that aims to apply big-data analysis to financial planning.

Frugal retirees ditch 4% rule, hoard savings instead

Retirees may be overly pessimistic about their future financial health and that may lead them to spend less than they could otherwise, according to a new study by United Income, a startup that aims to apply big-data analysis to financial planning.

Spend it if you got it: How frugal retirees impact all of us

As outlined in [Matt Fellowes’] recent report analyzing data from two University of Michigan surveys sponsored by federal agencies, the average adult aged 60 years or older will trim his or her spending by about 2.5 percent every year, or approximately 20 percent over a 10-year period.

Parents don’t be too proud to beg and plead. Cry if you must. Just get your college graduate to start saving for retirement now!

“The average retired adult who dies in their 60s leaves behind $296,000 in net wealth, $313,000 in their 70s, $315,000 in their 80s, and $238,000 in their 90s,” according to a United Income report.

Sometimes, retirees are just too frugal

Matt Fellowes, CEO of United Income, offered this decline in optimism as one possible explanation for the drop in spending as retirees age.

Older Americans Are Less Confident in Stocks -- and That's a Problem

According to a newly released study by United Income, between 2002 and 2014, the average older adult thought the stock market had a less than 50% chance of increasing on an annual basis -- even though most major indexes increased in all but two years during this period.

This week in money

The average American over the age of 60 cuts spending by 2.5 per cent per year, or about 20 per cent over a 10-year period, according to an analysis of University of Michigan survey data by financial planning software company United Income.

We Know Where All the Money Is Hiding

Retirees who are usually expected to spend that hard-earned nest egg are instead cutting their spending and living frugally, according to a University of Michigan survey analyzed by software company United Income.

Is there really a retirement-savings crisis in the US?

A new study by United Income considers the question from a different angle. It suggests that, due to a pessimistic economic outlook, retirees are simply living more frugally — and leaving behind significant financial assets at death.

Local news coverage on Fox affiliates

A new report from the investment company United Income says the wealthiest 25% of retirees are sitting on their money.

WSJ Wealth Adviser Briefing: Retiree Pessimism, Benchmarking for RIAs

…for those who have saved diligently, “they are not enjoying retirement in the way they should,” says Mr. Fellowes, who plans to launch an online financial advisory service aimed at people 50 and over this summer.

Why rich retirees are so reluctant to spend their money

Financial planners need to help retirees realize they have a “cognitive bias” that makes them too gloomy about the future, said United Income's Mr. Fellowes.

Frugal retirees ditch 4 percent rule, hoard savings instead

Retirees may be overly pessimistic about their future financial health and that may lead them to spend less than they could otherwise, according to a new study by United Income, a startup that aims to apply big-data analysis to financial planning.

The Psychological Reason Older People Spend Less

…for those who have saved diligently, “they are not enjoying retirement in the way they should,” says Fellowes, who plans to launch an online financial advisory service aimed at people 50 and over this summer.

American retirees are hoarding their cash and many are even RICHER in their 80s than in their 60s

These findings were reported in a study by the University of Michigan, which conducted a survey in conjunction with United Income, a financial planning software company.

Retirees Are Too Pessimistic on Their Investments—And It's Costing Them

Younger cohorts consistently had more faith, according to a study from United Income, a company developing money-management services for older Americans.

Rich Retirees Are Hoarding Cash Out of Fear

Millions of Americans are living too frugally, said Matt Fellowes, United Income’s CEO. Retirees are entering their 80s richer than they were in their 60s and 70s.

How Millions of Aging Baby Boomers Could Bust the Economy

New research by United Income, an investment advisory service in Washington, D.C., shows that Americans’ pessimism and unease about the state of the economy and their own future financial well-being grows the longer they live.

Why Retirees Cut Back on Spending: A Growing Pessimism, It Seems

But for those who have saved diligently, “they are not enjoying retirement in the way they should,” says Mr. Fellowes.

Six common myths that can mess up your retirement

Spending can vary by 50 percent or more per year for retired households, according to research by Matt Fellowes, founder and CEO of United Income, a startup that aims to apply big-data analysis to financial planning.

63% of workers say they will need less than $1 million for retirement

“Just like past stock performance does not predict future stock performance, past spending does not predict future spending,” Fellowes said.

Retirees, Automate Your Spend-Down Plan

United Income will help retirees build portfolios of bond ladders, deferred annuities and other investments; tell them which accounts to tap first; and send them a regular [United Income Paycheck]

HelloWallet Founder Matt Fellowes Has a New Financial Services Startup

“Ads for retirement finances spend most of the time talking about saving for retirement, not managing money for retirement,” Fellowes said. “It’s a very different problem for people.”

He sold his first local financial startup for $52.5M. Now he’s launching another in D.C.

Fellowes launched financial services startup United Income in D.C. this week to provide financial planning and money management services to the people who need it most — the ones switching to fixed incomes and at the start of drawing down a lifetime of savings.

Fintech Startup Aims to Help Boomers Manage Retirement Income

Fellowes promises United Income will integrate all sources of potential income in a way current retirement planning software doesn’t.