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Individuals in search of a free retirement calculator need not look further than Google for a large field from which to choose. These calculators can serve as a valuable tool for those thinking about the big picture of retirement. Since these calculators are an integral part of the retirement planning process, there is a need to evaluate them and create a set of standardized criteria to assess their validity for a given client. The users of these tools are average financial planning clients, but the beneficiaries of this analysis will be financial planners because they will be better able to understand their clients' thinking. This paper will further educate planners on common calculators their clients may utilize, while also addressing which calculators best suit which clients. [ABSTRACT FROM AUTHOR]

Aim/purpose - The purpose of this paper is to identify the characteristics that are typical of mutual fund managers. Design/methodology/approach - The study concentrates on a set of socio-demographic data, such as: age, gender, education, experience, and professional qualifications of 336 portfolio managers. The applied research strategy relies on an analysis concerning a set of statistical metrics describing the population under examination. Findings - The average Polish fund manager is a 37-year-old man, a holder of a stock-broker or investment adviser license. He obtained the authorization from the Polish Financial Supervision Authority (KNF) a few years after graduating from the Warsaw School of Economics (SGH). He has 11 years' experience in financial markets and 7 years' experience in the mutual fund industry. Research implications/limitations - The identification of managerial characteristics for the purpose of creating a profile of a Polish mutual fund manager will provide an important basis for further surveys and analyses aimed to evaluate the effectiveness of mutual funds. Originality/value/contribution - There are no investigations within the discussed area in Polish studies. Therefore, the identification of the characteristics that are typical of mutual fund managers will make a contribution to the finance literature. [ABSTRACT FROM AUTHOR]

Financial planners face a consistent challenge to help clients understand the trade-off between risk and return. Most clients relate to the idea of a targeted level of expected return to achieve specific wealth goals but with limited understanding of the required risk. Extended investment horizons require client discipline when market volatility appears to be enhancing the possibility of loss of wealth. The purpose of this article is to illustrate that bearing the risk associated with market volatility can reward clients with the achievement of targeted portfolio returns, even during times of great financial and economic uncertainty. Data from 1994 to 2013 is used to create hypothetical portfolios consisting of stock and bond allocations designed to target specific client return objectives. Graphical charts illustrate the resulting annual volatility associated with multiyear investment horizons. Financial planners can use these examples to better communicate the historical volatility associated with portfolios constructed to deliver target levels of return to clients. [ABSTRACT FROM AUTHOR]