The lowest-paid American workers aren't as well set up for retirement as their better-paid counterparts

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The lowest-paid American workers aren't as well set up for retirement as their better-paid counterparts (Bloomberg)

"The US retirement landscape is starting to look like a Charles Dickens novel," writes Bloomberg's Ben Steverman.

Steverman cites a new report from the Government Accountability Office, which found that about 60% of all US households have no savings in an IRA or 401(k)-style account. Moreover, the highest-paid US workers are set to end up with retirement savings incomes over 11 times larger than those of their lowest-paid counterparts.

"Since voluntary savings plans led by 401(k)s have largely replaced traditional pensions, it's probably no surprise that this is the best of times for many highly paid workers," writes Steverman. "Equally unsurprising is that this is the worst of times for almost everyone else, especially the 42% of workers who don't have access to a work-sponsored plan."

Oil's surge isn't going to hit consumers ... yet (Advisor Perspectives)

Oil prices have bounced back a bit this year. Since their February lows, both WTI and Brent crude are up about 60%, trading around $44 per barrel. As such, some folks have started to get nervous about what this could mean for consumers' wallets.

"Examining consumer spending activity in the past 18-24 months does not suggest an impending dramatic change, however, barring a return to oil prices of $100 per barrel," argues John Canally of LPL Financial.

Advisors may need to start taking on the role of a family therapist (FA Magazine)

As more Americans live longer, advisers may have to start taking on the role of a family therapist, reports Dan Jamieson.

"The financial aspects, as critically important as they are, become almost footnotes" to the other physical, mental, and emotional issues in retirement for both clients and their parents, said author and speaker Nick Murray Thursday at Financial Advisor magazine's seventh annual Inside Retirement conference in Dallas.

Here's what the ECB's new plan means for US corporate bonds (Charles Schwab)

The ECB will begin buying European investment-grade corporate bonds in June as part of its economic stimulus program.

"Because bond yields move inversely to bond prices, the ECB's buying may lead to lower European corporate bond yields," notes Collin Martin. "We think this may indirectly support the U.S. investment-grade corporate bond market, as international investors may be pushed to seek out higher-yielding alternatives."

Pershing just scooped up 3 robo partners (InvestmentNews)

Pershing added three new robo-adviser partners: Jemstep, SigFig, and Vanare. This is part of the firm's big push to offer more digital options to its advisers, reports Alessandra Malito.