Two-thirds of Americans think they'll outlive their savings

REUTERS/Mike Segar

Two-thirds of Americans think they'll outlive their savings (Northwestern Mutual)

A new study from Northwestern Mutual suggests that Americans aren't feeling too good about their financial futures.

About two-thirds of respondents said there's at least some chance they'll outlive their savings; one-third said there's a 51% chance or better; and 14% said there's a 100% chance.

Unfortunately, these worries are not translating into action. Only 21% said they have increased their savings, and 44% said they haven't taken any steps at all.

The Finra CEO doesn't love how you hire people (Financial Planning)

Finra CEO Richard Ketchum said at the regulator's annual conference that he is "disappointed with some of the hiring practices that continue to exist within the industry."

Specifically, he noted that firms that recruit brokers who have past offenses on record need to completely understand the associated compliance risks and have "confidence that the person will responsibly manage people's money," reports Andrew Welsch.

US millennials are more likely to live at home than any other young adults the first time in American history (Pew Research)

A new study from Pew Research found that millennial men are more likely to live with their parents than a spouse or partner, with 35% staying at home, and just 28% living with a significant other. Millennial women are slightly less likely to do so, but not by much. 35% live with a significant other, and 29% live with their parents. This is the smallest gap recorded ever by Pew.

Pew's Richard Fry notes that there could be a few reasons for this shift. However, he specifically points to the fact that young people just aren't settling down like they did in the past.

"This turn of events is fueled primarily by the dramatic drop in the share of young Americans who are choosing to settle down romantically before age 35," said Fry in a post on the study.

Pew Research Center

Investors doesn't really know that much about ETFs and index funds (FA Magazine)

A new survey by Natixis Global Asset Management found that investors don't really know that much about the risks associated with index funds and ETFs. The survey notes that over three-quarters of respondents agree that index funds and ETFs are cheaper investing options, but 71% also think that they're less risky.

"It is critical to understand the risks in your portfolio, so it's troubling to see investors mistakenly assign benefits to index funds that they don't actually have," John Hailer, CEO of Natixis Global Asset Management for the Americas and Asia, said. "Index funds have a place in portfolios, but their low cost seems to be providing a 'halo effect' that could blind-side investors during volatile markets."

Merrill Lynch just picked up a $555 million team from Morgan Stanley (InvestmentNews)

A team of financial advisors managing $555 million just left Morgan Stanley for Merrill Lynch. Christine Idzelis reports that this shift was motivated in part by "fee-based investment advisory platform it began offering less than three years ago."