Voyant was one of only 77 companies selected to debut at DEMO 08, the premier launch venue for new products, technologies and companies.

Voyant @Home helps people understand the big-picture impact of life-changing events and their long-term financial implications – from the birth of a child to the early retirement of a spouse. Unlike one-dimensional personal finance software, expense aggregators and budget calculators, the product features interactive forecasts, “what if” scenarios and online collaboration tools that give consumers more control and customization than traditional financial planning options. Even better, Voyant @Home is a free, Web-based Internet application that allows users to manage up-to-the-minute plan information from the convenience and privacy of their home, office or favorite coffee shop.

“For too many people, financial planning is a daunting and unpleasant task typified by impersonal service, antiquated technology and ill-suited product recommendations,” said Dr. Jason Glazier, a Voyant board member and former senior vice president and CTO of Lincoln Financial Group. “Unfortunately, that reality has led many consumers to abandon financial planning processes completely. Voyant @Home introduces a new model in financial planning where you control the input and the outcome – and you don’t have to be a financial expert to achieve great results.”

“What impressed me most about Voyant @Home is how the product presents complex financial information in a format that is relevant and accessible to all types of users,” said Chris Shipley, DEMO executive producer. “By bridging the gap between consumers and professional advisors, Voyant @Home is poised to help people of any means achieve their financial needs and dreams.”

Voyant @Home’s innovative features include:

* Timeline – defines key life stages and events; foresees important financial obstacles and opportunities.

* Simulations/Illustrations – demonstrates the impact of life-changing events such as birth, marriage and retirement; illustrates products and services such as life insurance, investments and loans that support personal financial goals.

* Real-Time Snapshots – compares current account balances to established goals; defines and tracks action items.

* Collaboration – supports secure communication with designated community members including friends, family, employers, and professional advisors.

* Data Mining/Analytics – recommends areas for potential improvement based on established industry norms such as fees and coverage rates.

A core component of Voyant @Home is Voyant Community, a fully-featured social networking platform that creates compelling opportunities for dialogue between users and their friends, family and trusted advisors. With Voyant Community, people can chat online, join a forum and interactively (and anonymously) share plans with others – including members of affinity groups with similar interests, concerns and questions. Whether someone is a small business owner considering expansion, or an adult child supporting aging parents, Voyant @Home helps users exchange valuable advice and information that improves outcomes and mitigates the risks of unforeseen events. And if an individual needs expert counsel, Voyant’s Advisor Connect feature provides a direct link to a wide selection of licensed professionals.

“Everyone deserves the opportunity to own and define his or her path to financial health,” said David Kaufman, CEO and founder of Voyant.”Our goal is to empower consumers to participate more directly and frequently in the financial planning process, and to help them understand the immediate impact and importance of specific planning assumptions.”

For more information, or to join and download Voyant @Home, go to: www.planwithvoyant.com.

First, one size doesn’t fit all, nor does any tax or investment advice result in the same benefit for everyone. So get your best estimates on major items for 2010 and check out your strategies. With a pad and pencil you can do some basic analysis if dealing with 4 or 5 items. Anything more than that will require you to either build a spreadsheet for a definitive analysis or get an off-the-shelf financial planning software that incorporates necessary and specific federal and state tax computation. This will allow you to see how a specific tax strategy will affect your long-term financial position or what investment and tax planning strategies will best help you meet your retirement planning goals. Avoid retirement planning calculators or most retirement planning software. They are too simplistic and are designed to evaluate only the most basic retirement planning analysis. You can find several personal financial planning software tools used by professional advisors, accountants and insurance agents on the Internet that provide free trial versions that will allow more than adequate time to assess your own financial concerns. A good example is ExecPlan Express that can be found at www.execplanexpress.com along with a free evaluation copy, detailed tutorials and sample reports. Though the software was developed for professional financial advisors it has an intuitive design that makes it easy for the consumer who wants to take control of their own personal finances. At $299 it is also relatively inexpensive for those who want to continue using it beyond the 30-day trial period. “Though professional planners have been our core clients for the past 30 years,” says Jai Sawhney, President Sawhney Systems, “we have seen a substantial number of individuals seeking out our product to manage and evaluate their own personal finances and create their own retirement and tax planning strategies.”

Once you have a financial planning software to project your income and estimate tax liability you are ready to explore two of the biggest tax breaks for 2011. First is a Roth conversion. Most people are aware of the benefits of a Roth, including tax-free growth, no required minimum distributions and tax-free distributions. There is also the benefit of providing liquidity for potential estate tax planning which may be important if and when the estate tax returns. The downside is that the conversion means you pay the tax now and the taxable income is on top of your current income. This means that the income from the rollover will be taxed at your current tax bracket or even a higher one. However, for 2010 the income from Roth conversions will be split and applied over 2011 and 2012. This provides the consumer two benefits. First splitting over two years may help keep more taxable income in lower brackets, and secondly since the tax is not due for 2011, this provides a one to two year grace period before the tax is due.

The other big tax break for 2011 is the reduced capital gains tax rates. If you are a retiree or any individual who has low taxable income or can defer ordinary income from 2011 to a future year, then this may be a real money saver. For 2011 capital gains rates are as low as 0% if you are in the 10% income tax bracket and 5% if you are in the 15% bracket. So a married couple both at age 65 not collecting social security yet, and taking the standard deduction, could earn $100,000 in capital gains and owe less than $2000 in taxes, while in 2011 that same filer in the same tax position will owe almost $10,000. For individuals who have any appreciated stocks, this is the year to sell them.

With either of these strategies as well as any additional tax planning advice, you need to see how well it is suited to your specific situation before taking it seriously. Though these breaks will benefit most people, they will benefit some more than others, and the benefits may be immediate or long term or both. The best way to really evaluate what will work best is to crunch the numbers with your own personal financial planning software or seek a professional financial planner to help guide you to the right answers.

“People considering retirement should remember that their credit scores — and the creditors that scrutinize it — will not disappear with the first withdrawals from retirement funds,” Stroh said.

Credit scores incorporate credit history, amount of credit available and used, number of late and on-time payments, and whether any payments due are in default. Creditors also analyze other factors, including debt and payment history relative to income – one factor sure to change at retirement. Some creditors also consider job history, which ends when an employee leaves full-time employment.

Credit scores fall in a range between 300 and 850, with higher numbers indicating a greater likelihood of repaying debt. A score below 680 usually results in a borrower being charged a higher interest rate or denied credit. To maintain a credit score that will make for an enjoyable post-retirement life, Stroh suggests the following:

1. Before retirement, focus on investing. Eliminate credit card debt by funneling money previously used to shop, dine out or travel to paying debt, and then into retirement savings. People age 50 and over can contribute $20,500 to a 401(k) plan in 2007, and $5,000 to an individual retirement account or Roth IRA. For people younger than 50, those limits are $15,500 for a 401(k) and $4,000 for an IRA.

2. Live on planned retirement income now. Give retirement a “dry run” by living on your anticipated post-retirement income. Consult a financial planner to determine how much income you will require. Meanwhile, use the savings to pay off remaining debt (including credit cards, vehicles and home mortgages).

3. Line up insurance. Review insurance needs, including homeowner’s, auto, long-term care, umbrella policies and life insurance (which might not even be needed in retirement). If changes are needed, make them while employed. Insurers give their best rates to people with good credit scores, so plan to stay with a policy for a while during the transition to retirement.

4. Settle into home and financing. If you plan to move to a smaller home or a condominium, consider moving before retiring. You are likely to receive better mortgage terms with your current income than you will later. The tax deductions associated with a move also might benefit you more while employed. Similarly, for the best terms, open any planned home equity line of credit on a home before retirement.

5. Keep the cards. If you plan to streamline finances, think twice about closing old accounts. Credit scores are partly determined by comparing debt to credit available. Closing unused accounts while maintaining some debt results in a likely higher debt-to-credit ratio, which looks like a greater credit risk — and lowers credit scores.

6. Check credit reports now — and frequently later. Don’t retire your vigilance when you retire. Check credit reports at least once a year — more often if you plan extensive travel, which exposes seniors to greater risk for fraud and identity theft. Free credit reports are available once a year at www.annualcreditreport.com. All three credit reporting agencies (Equifax, Experian and TransUnion) offer credit reports online, as needed.

“Retirement is about relaxation,” Stroh said. “Make sure you can make the most of it by securing every aspect of your finances first, starting with your credit score.”

The introduction of the Retirement Plan is part of a wide-ranging effort at Financial Engines to broaden the scope of retirement help it offers employees at different phases of their lives.  Financial Engines will provide advice and management on investing, savings and retirement income decisions as 401(k) investors plan for, transition into and enter retirement. This initiative is part of the company’s commitment to provide America’s workers with Retirement Help for Life^SM services.

The recent market downturn has reduced retirement account balances and shaken investors’ confidence.  It is estimated by the Investment Company Institute that $2.1 trillion dollars in retirement assets were lost by investors from September 30, 2007 to September 30, 2008.¹ According to EBRI’s annual Retirement Confidence Survey (RCS), the number of workers who feel very confident about retiring has fallen to 13% – the lowest it has ever been in the survey’s nineteen year history.² The RCS also found that 44% report that they simply guess at how much they will need for a comfortable retirement.

“Investors are emerging from the initial shock felt after the market declines of 2008 and want to know where they stand and what they need to do to achieve their retirement goals,” says Ken Fine, Executive Vice President of Marketing, Financial Engines.  “Through the Retirement Plan we address the key decisions 401(k) investors face and help them navigate their way to a more secure retirement.”

The Retirement Plan was inspired by features currently available in the company’s online advice service.  Wanting to get more help readily into the hands of employees, Financial Engines Retirement Plan provides a personalized printed statement for participants who have their retirement account professionally managed.

“Financial Engines is once again extending the availability of independent and affordable retirement help and making it readily accessible to more 401(k) investors,” continued Fine.  “The introduction of the Retirement Plan is just the beginning as we continue our efforts to help investors address more of their retirement planning needs.”

The Financial Engines® Retirement Plan

The Retirement Plan helps employees understand where they are in terms of their retirement and is organized to address three key areas in retirement planning: investments, savings and retirement income.

Investments

The Retirement Plan gives the participant the fund by fund changes that Financial Engines plans to make in their account.  This section also incorporates information on the participant’s tax-deferred and taxable accounts.  With this total-household view of the participant’s savings and holdings, Financial Engines optimizes the retirement account it manages.

Savings

The Retirement Plan also provides advice on how much a participant should be saving for retirement and what an increase in savings could mean in terms of increased employer match.  The plan takes a total portfolio savings approach, and includes savings to Roth 401(k), as well as reflects contributions to IRAs and other tax-deferred accounts.

Retirement Income

Finally, the Retirement Plan answers the ultimate retirement question, “How much am I going to have in retirement?”  The statement includes a personalized forecast that provides a realistic view of how much a participant’s portfolio might be worth at retirement and the likelihood that the participant will achieve their retirement goal.  The Retirement Income section also covers how much a participant’s investments, Social Security and other pension sources could produce in terms of annual income. Finally, if a participant is not on track to achieve their goals, they are reminded that they have access to a licensed investment advisor representative who can work with them to help improve their outlook.

The video, which features Jamie Shepherdson, president of Retirement Savings for AXA Equitable and chair of the IRI, highlights the new retirement reality, including lessons learned from the economic meltdown and the role financial professionals will play in restoring consumer confidence.

“National Retirement Planning Week recognizes the importance of planning for your financial future,” said Mr. Shepherdson. “AXA Equitable strongly supports this week of education and awareness, especially in the wake of the financial crisis. We feel it also validates the need for consumers and financial professionals to stay connected in regular dialogue through the different life stages that make up retirement.”

For access to the video, please visit The Source, AXA Equitable’s multi-media Web site that provides information and thought leadership on a wide array of financial protection and retirement planning topics.

In business since 1859, AXA Equitable Life Insurance Company (NY, NY) is a leading financial protection company and one of the nation’s premier providers of life insurance and annuity products, as well as investment products and services through its affiliates, including, AXA Advisors, LLC. The company’s products and services are distributed to individuals and business owners through its retail distribution channel, AXA Advisors; to the financial services market through its wholesale distribution channel, AXA Distributors, LLC.

AXA Equitable, a subsidiary of AXA Financial Inc., is part of the global AXA Group, a worldwide leader in financial protection strategies and wealth management. “AXA Group” refers to AXA, a French holding company for an international group of insurance and financial services companies together with its direct and indirect consolidated subsidiaries. For more information, visit www.axa-equitable.com.

Retirement is no longer “one size fits all”, nor is it a single event. The New Retirement Mindscape study uncovered a progression of five distinct stages that people migrate through before and during retirement: Imagination, Anticipation, Liberation, Reorientation and Reconciliation.

Each stage has its own complex emotions and needs – impacting every other area of a person’s life, including family relationships, workplace experiences, community involvement and financial situation. While there are numerous books on life transitions, such as pregnancy, grief or loss, none are devoted to the most complex life stage – retirement.

Stage 1 – Imagination (15-six years prior to retirement)
The first stage of retirement, Imagination, usually begins when people are in their 40s, approaching their peak earning years. They experience higher expectations about retirement and increase the amount of attention spent on retirement planning. They begin to develop a clearer vision of what they want out of their retirement and start to create their own “roadmap.” During this stage, individuals are likely to seek out the advice of a financial professional to help them make plans for achieving their retirement dreams. As the vision of their retirement becomes clearer, more consumers expect to feel enthusiastic (77 percent) and happy (88 percent) in retirement as compared to earlier years. Expectations of feelings of empowerment (65 percent) increase as well.

Stage 2 – Anticipation (five years prior to retirement)
The next stage, Anticipation, takes place in the years just prior to retirement. This stage is a time of great excitement and hopefulness — emotions that continue to intensify, as people get closer to their actual Retirement Day. In fact, most (80 percent) feel that they will be “able to achieve their dreams during retirement.” Financial resources are almost in place and people begin to spend additional time planning for recreation, new hobbies, family and even post-retirement careers. However, in the year or two just before Retirement Day, as people stand at the threshold of retirement, there is a resurgence of worry as 22% say they will feel a sense of loss and 18% expect to feel “emptiness” when their working years are over.

Stage 3 – Liberation (Retirement Day and the year following)
Retirement has arrived. The Liberation stage is a time of great enjoyment, enthusiasm, and hopefulness, yet surprisingly lasts only about one year. People told us that on Retirement Day they were either excited (49 percent) or relieved (24 percent). They said they felt liberated from many of their worries and responsibilities, and that they are living their retirement dream. This is the honeymoon phase of retirement. Though they admit they miss their friends and social connections from work, people in this stage are fully engaged in everything their new freedom has to offer: Reconnecting with spouses and families, hobbies, traveling, even starting new businesses.

Stage 4 – Reorientation (two to 15 years after retirement)
After an initial period of Liberation, people transition into a stage of Reorientation. During this time, which can last up to 15 years after Retirement Day, the data show that there may be an emotional let-down in this stage. People discover that retirement is often more challenging or just different from what they expected. Health and financial worries weigh more heavily while others complain of depression, worry and boredom.

However, planning, preparation and a clear vision of their retirement potential can help empower people to make this a more satisfying time in life. We uncovered four distinct experiences within the Reorientation stage: Empowered Reinventors (19 percent), Carefree Contents (19 percent), Uncertain Searchers (22 percent) and Worried Strugglers (40 percent).

• Empowered Reinventors (19 percent) find this stage a time of adventure, new challenges and fulfillment. In fact, this may be our first glimpse of how the baby boom generation will experience retirement. Empowered Reinventors are the most likely to say they feel adventurous (70 percent) and empowered (56 percent). In addition, they are the most likely to say that doing more meaningful or satisfying work is very important to them (43 percent).
• Carefree Contents (19 percent) are reorienting successfully to a new time in their lives, but they differ from Empowered Reinventors in that they are content to simply adjust to a less frantic lifestyle without the stresses of work and juggling multiple responsibilities.
• Uncertain Searchers (22 percent) are still trying to figure out what to make of this time in their lives and they report mixed feelings about their retirement.
• Worried Strugglers (40 percent) are having a difficult time in this stage and are more likely to admit worry, boredom, sadness and fewer aspirations. Lack of planning and preparation likely played a role in this uncertainty. This group is most likely to say that they gave little forethought to what they wanted to do during their retirement years.

The most interesting of these groups is the Empowered Reinventors who stand out as role models and may even be our first indication of how baby boomers will reinvent retirement. Compared to most others, Empowered Reinventors have been the most proactive about planning and preparation for travel, spending time with their families, volunteering and ensuring a healthy lifestyle in retirement. For them, this stage immediately following retirement becomes a time of adventure, empowerment and fulfillment. They may no longer be in a full-time career, but they have changed gears and re-engaged in a wide range of new activities. Additionally, engaging in hobbies, traveling and enjoying their newfound freedom from the daily grind are all priorities.

Stage 5 – Reconciliation (16 or more years after retirement)
This stage is marked by increased contentment and acceptance of the reality of retirement. During this stage, respondents are positive about retirement, 65 percent report that they are living their retirement dream and 75 percent are enjoying it a “great deal.” They begin to set their sights on the possibility of moving to a new home or an entirely different location. They report lower levels of depression (five percent), though they are more likely to admit sadness as they begin to confront end-of-life issues with their families (22 percent).

“This LRI survey uncovered a dichotomy between what boomers envision for their personal retirement futures and what they expect their peers to face in retirement,” said Bobby Greenberg, director of the Lincoln RetirementSM Institute. “Long-term care is a tough topic for people to face, one that many would rather not think about or plan for, yet 85 percent of those surveyed acknowledge that it would be much wiser to purchase long-term care insurance to protect themselves and their loved ones. Ultimately, we’d like to see this survey help baby boomers better navigate retirement.”

Other key findings from the Lincoln RetirementSM Institute survey that illustrate the Overconfidence Effect in boomers:

* Fifty-nine percent of boomers think others should prepare by purchasing insurance for the possibility of needing long-term care, yet only 35 percent say they are using insurance as one of their own preparations.

* When asked what they are doing to prepare themselves for potential long-term care needs, boomers are typically overly optimistic and more likely to say they are focused on such unreliable measures as maintaining a healthy lifestyle (54 percent), investing to get the highest possible return (40 percent) and saving additional money to cover long-term care (39 percent) instead of heeding their own advice to other boomers and purchasing insurance.

* More than 40 percent of those surveyed estimate the average 65 year-old has a 60 percent chance of needing long-term care for three months or more at some point in time, but only 30 percent said they run the same risk in the future.

“Boomers and financial advisors have pointed to ‘outliving one’s savings’ as the most challenging retirement issue and do not consider long-term care as a first-tier financial priority,” said Anand Rao, a partner in the insurance industry practice at Diamond Management and Technology Consultants, Inc. which helped interpret these survey results. “Baby boomers tend to compartmentalize their decisions about wealth and health, ignoring the impact of one on the other. The fear of making a wrong and irrevocable turn in long-term care insurance paralyzes them from taking any action at all, thus undermining their intention to proactively plan for long-term care needs. Surprisingly, this fear far outweighs the ‘peace of mind’ they would experience from having long-term care insurance.”

Mapping Out Retirement

The Lincoln RetirementSM Institute survey examined attitudes and behaviors of both baby boomers and financial advisors concerning money management and long-term care. Boomers are planning ahead and mapping out the best road to take to achieve their retirement goals, while not addressing the significant retirement risk of long-term care.

* When asked to assess their retirement planning efforts, six in 10 boomers stated they have calculated how much money they would need for retirement, and two-thirds of those surveyed reported they have financial plans in place.

* Almost all baby boomers (94 percent) feel that being able to afford some type of nursing care is important; they are less likely to say that this goal is as important as having enough savings and investments to last as long as they live, being able to afford adequate health care, and making sure they do not have to rely on family members for financial assistance.

* This ranking of values correlates with the conversations that virtually all advisors surveyed report having with their clients about financial planning: They specifically mention the number of years their clients might live in retirement, how much annual income they will need to maintain their desired lifestyle, and preparing for inflation.

“Boomers may not be planning for long-term care, but they are thinking about it, which is the first step. This is especially true for those who have experienced the challenges of long-term care first hand alongside a friend or family member. These boomers are more likely to assume they have a higher risk than their peers of needing this type of care in the future. Addressing their long-term care concerns today with the help of a financial advisor will go a long way in easing this fear and ensuring their needs are met in retirement,” said Matt Wroblewski, director of research at Lincoln RetirementSM Institute.

Navigating the Best Course

Many boomers are relying on self-insuring to fund long-term care expenses. As they go their own way, they do so not fully understanding the limitations of other funding resources such as Medicare and Medicaid. Dependence on these inadequate subsidies will result in boomers needing to find alternate routes in footing their long-term care bills.

* More than 80 percent of boomers surveyed say they know that long-term care costs could significantly reduce their retirement income and assets, yet 73 percent plan to use their savings or investments to cover the costs versus insurance.

* Furthermore, two out of three boomers say that the cost of long-term care could force them to sell their home, a scenario that may have additional ramifications in today’s economy.

* Nearly half of those surveyed state they will use Medicare (49 percent) and health insurance (45 percent) to help pay long-term care expenses, however, boomers are overestimating the impact these sources may have on covering total long-term care costs.

* Alarmingly, substantial proportions of financial advisors say people typically use Medicaid (63 percent), Medicare (52 percent), and health insurance (32 percent) to pay for long-term care; when in reality these funding sources are likely to pay only a small fraction of long-term care costs, leaving boomers financially exposed to unexpected and significant cost expenditures.

“The survey discovered boomers have a learning curve when it comes to understanding the scope of coverage Medicare and Medicaid provide for long-term care needs. For instance, more than 90 percent of boomers stated that they would prefer in-home nursing assistance if needed, most likely without thought for the substantial coverage gap these funding sources may create. Being prepared in advance and knowing the facts can have a monumental impact on a boomer’s care preferences, as well as quality of life and ability to leave a legacy,” said Greenberg.

Requiring Road Side Assistance

Just as getting an oil change and tire rotation before a road trip is common practice, many boomers forget that a regular tune-up can also safeguard their retirement journeys. The survey uncovered a disconnect between boomers’ attention to day-to-day health care expenses and long-term care needs.

* Eighty-nine percent of survey respondents say they have incorporated day-to-day healthcare expenses (such as health insurance and prescription drugs) into their financial plans, while only 63 percent have thought through how they would cover the costs of nursing home care.

* This separation is further supported by the fact that prescription coverage is viewed as “very important” by 82 percent of respondents. In contrast, only 60 percent of boomers rate in-home nursing care and nursing home care at that same level of significance.

* When meeting with clients about their retirement plans, financial advisors show a slight tendency to discuss day-to-day health care expenses (85 percent) more than costs associated with nursing care needs (80 percent).

“It is encouraging to see boomers discussing near-term healthcare expenses and at least thinking about long-term needs as they meet with advisors to plan their retirements. Advisors can provide the guidance boomers appear to need: They are in tune with the long-term care epidemic as 88 percent expect their clients’ need for long-term care will increase over the next 10 years,” said Greenberg.

Boomers are approaching their golden years with the anticipation of realizing their retirement dreams. This survey highlights the importance of planning for the future with pragmatic optimism. By acknowledging the Overconfidence Effect, boomers can take the necessary actions to plan properly for future needs.

If your not getting the results with a commission based financial adviser you probably won’t deal with him again, but that won’t stop him getting his trail commission for as long as you hold your investment.

Advisers in favour of commissions usually argue that there is nothing wrong with commissions as long as they are disclosed properly in accordance with the law. Although now we have laws in place to ensure we see full disclosure of commissions paid, it doesn’t rule out financial advisors still having conflict of interest in some investments they offer.

Making sure you get full disclosure on commissions, this means that getting the commission rates including the normal commission rates. It is unreasonable to expect all clients to understand the range of benefits that are available from a wide variety of products and thus clients really have nothing to compare a disclosed commission with.

Unless a client knows what advisers are “supposed” to make, they’ll just have to take the adviser’s word for it that the commissions being paid are reasonable.

There are only really two ways for a client to be fully informed of the true extent of conflicts of interest. Make sure the advisor provides a thorough document giving extensive statistical data explaining possible and actual commissions on all available products; they must be able to show you real life examples and extremely detailed explanations as to why commissions are justified. The only other alternative is to use the fee for service structure where any commissions, benefits, bonuses are paid back to the client and the advisor charges for the actual services provided.

So make sure you are dealing with a trusted and respected financial advisors.

The simple fact: it is possible to find a financial advisor that is a fiduciary. To find an advisor that places their clients’ interests first, ask the following questions:

1. How are you compensated? Find out about incentives for advice, such as commission or referral fees. Financial advisors that claim to be fee-based could accept other incentives that may sway their recommendations.

2. Will you disclose possible conflicts of interest? To better evaluate given advice, a client should know about factors that could affect their advisor’s recommendations. Any relationship, compensation or other incentive that may interfere with an advisor’s ability to act in their client’s best interest should be disclosed.

3. Are you legally obligated to act in my best interest at all times? If so, get this in writing. A financial advisor held to a fiduciary standard should be willing to do so.

The most surprising thing about Panama is how this country manages to become more appealing all the time. This land of potential is realizing more of it every day thanks to new President Ricardo Martinelli. After only four months in office, Martinelli has engineered more change than most leaders manage to accomplish over their entire terms. Martinelli’s approval rating is better than 90% as he pushes ahead with his flat tax proposal, his labor reforms, his zero-tolerance anti-corruption-in-politics campaign, his Panama City metro system, his new international airports, and on and on.

The Panamanian government recently issued US$1 billion in 10-year notes yielding 5.224%. The issuance coincided with S&P’s upgrade of Panama’s credit rating, which is now one level below investment grade. US$1 billion is a lot of money for a country this size, and Martinelli is keen to make sure it is well-spent.

For the foreign expat, retiree, investor, and businessperson, all this translates to a great big Welcome! sign. Panama City is no longer super-cheap, but the rest of the country sure can be. If you haven’t looked closely yet at what Panama has to offer, I ask you now, what in the world could you be waiting for?

World’s Top Haven #2: France

World’s best quality of life, world’s best health care, world’s best infrastructure, world’s most romantic city…France is a country that begs superlatives. Downsides are a draconian approach to taxation (so don’t become a legal resident); a cultural distaste for entrepreneurial activity (so don’t consider any business in this country that’d require local hires or a local shop front); and, as we move toward 2010, a super-strong euro (maybe a concern if your nest egg is denominated in U.S. dollars).

On the other hand, retirement in France can be more affordable than you might imagine, certainly when you consider the country beyond Paris. As Intrepid Correspondent Paul Terhorst wrote from Buenos Aires recently, “Argentina has gotten expensive again. The South of France would be more affordable right now…”

World’s Top Haven #3: Uruguay

The banking, residency, and tax advantages of Panama without the chaos or the construction dust. While Panama is running on over-drive right now, making sure the world realizes she’s open for business, Uruguay is, as always, content to sip her maté from the sidelines. Uruguay is an ideal choice if you’re considering a move with children. On the other hand, retired way down south to not-so-accessible Uruguay, you might not get back home to North America to visit your grandchildren as often as you’d like. And, frankly, you might get bored.

World’s Top Haven #4: Dominican Republic

Easy foreign residency, favorable approach to foreign taxation, and, right now, a down real estate market that has created great crisis buy opps. For this reason primarily, the DR is my top 2010 pick in the Caribbean. Also, there’s an interesting and welcoming expat community on this island, including an established French population.

World’s Top Haven #5: Argentina

Buenos Aires is the most cosmopolitan city in Latin America and the only city in Central or South America where you could enjoy a lifestyle that could be described as “luxury” according to a real-world definition of that word. With few exceptions, anything available in Paris (the world’s number-one luxe destination) is available as well in Buenos Aires, at lesser cost and with a Latin edge, including five-star restaurants, nightclubs, comedy clubs, open-air cafes, world-class live theater and ballet, art galleries, museums, indoor shopping malls and outdoor antiques markets, European-style parks, plazas, and gardens, plus classic architecture of the kind found in but a handful of cities around the world. If you want to live a life filled with art and history, culture and interesting company, but you can’t afford Paris and its euro, look to Buenos Aires.

A basic budget for retirement in one of this eclectic city’s best neighborhoods could be as little as US$3,000 a month, with about half that given over to rent (and not including a maid). You could build out your luxury lifestyle budget from there.

Argentina also boasts Mendoza, one of the world’s top wine regions. Argentines enjoy great food, good vino, and interesting conversation, and, here, in the interior of this country, these things are the priorities of life.

World’s Top Haven #6: Malaysia

Malaysia’s capital Kuala Lumpur is my top pick in Asia for living the very good life on a budget. K.L. is an affordable choice, but Malaysia outside its capital city is one of the cheapest retirement havens on earth right now.

World’s Top Haven #7: Chile

Beachfront, wine country, and First World services. Chile also boasts the lowest violent crime rate and the highest GDP per capita in Latin America. Such a high standard of living usually comes at a high cost, but not so in most of Chile. This country has not gotten the attention it deserves. We intend to right that in 2010.

World’s Top Haven #8: Belize

Safe, stable, and English-speaking. Caribbean Belize isn’t as affordable as the Dominican Republic, but, inland, the Cayo (my favorite part of this country) can still be described as cheap. Belize in general is my top get-away-from-it-all, back-to-nature, retire-off-the-grid pick.

World’s Top Haven #9: Croatia

The cobalt blue of the Adriatic Sea off Istria’s coast is almost other-worldly. Onshore, the Istrian peninsula is a fairy-tale land of fortresses and bell towers that so attracted and impressed the Romans they invested in some of their best building here, including, for example, a large and largely intact coliseum at Pula where lions and Christians once entertained. Later, this region was ruled by the Venetians, who also left an architectural legacy. In Istria, both Nature and man have worked together over many centuries to create something very special, almost magical. In fact, the ancient Romans named it “Terra Magica.”

I defy you not to fall in love with this region, whose landscapes and way of life rival the best of Tuscany or the French and Italian rivieras, but this place is still undiscovered and therefore affordable. Renovation projects (centuries-old stone farmhouses on hillsides overlooking valleys of olive groves and vineyards) start at US$50,000.

World’s Top Haven #10: Vietnam

As Asia Correspondent Wendy Justice, explains, “Vietnam is an emerging market that has only recently moved beyond the dark transition following the war. Now this country is changing almost daily. The population is youthful, and an energy permeates everything. This is a land of beautiful beaches, cool mountain retreats, and cities seething with vitality. Many Westerners head to Vietnam and love it. Others complain about the hustle, the noise, and the lack of Western influence, particularly in the northern part of the country (Hanoi). On the other hand, the cost of living is temptingly low.”