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Keyword: retirement

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  • The Easy, Uncomplicated Way To Get Rich

    10/17/2016 11:11:46 AM PDT · by 2ndDivisionVet · 17 replies
    Zero Hedge ^ | October 16, 2016
    I talk a lot about the global investment markets. I’m focused on making profits, and often I’m looking to make multiples, knowing full well that some opportunities won't work out. I’ll get timing wrong or I’ll miss something entirely and need to hedge, reposition, or exit entirely. That’s life. But I haven’t spent much time on stating the obvious (because I figured it’s obvious) so today's post is going to do just that. We are going to forget all about economics, financial markets, central banks, derivatives, GDP, and all that stuff, and we're going to go all the way back...
  • Financial Industry May Control Retirement Savings In A Clinton Administration

    10/20/2016 5:15:24 AM PDT · by randita · 19 replies
    International Business Times ^ | 10/19/16 | BY DAVID SIROTA AND AVI ASHER-SCHAPIRO
    illary Clinton And Wall Street: Financial Industry May Control Retirement Savings In A Clinton Administration BY DAVID SIROTA @DAVIDSIROTA AND AVI ASHER-SCHAPIRO ON 10/19/16 AT 12:50 AM Blackstone's Tony James: America's Not Great at Saving While Hillary Clinton has spent the presidential campaign saying as little as possible about her ties to Wall Street, the executive who some observers say could be her Treasury Secretary has been openly promoting a plan to give financial firms control of hundreds of billions of dollars in retirement savings. The executive is Tony James, president of the Blackstone Group. The investment colossus is most...
  • Clinton And Wall St: Financial Industry May Control Retirement Savings

    10/19/2016 11:32:02 AM PDT · by AC Beach Patrol · 45 replies
    International Business Times ^ | 10/19/2016 | BY DAVID SIROTA AND AVI ASHER-SCHAPIRO
    While Hillary Clinton has spent the presidential campaign saying as little as possible about her ties to Wall Street, the executive who some observers say could be her Treasury Secretary has been openly promoting a plan to give financial firms control of hundreds of billions of dollars in retirement savings. The executive is Tony James, president of the Blackstone Group.
  • Yellen Puts 50 Percent Tax on Retirement

    If a politician said he thought he should tax the income from your retirement plan, right now, at 50% (no matter where you are in the retirement process, that would certainly hurt the ability of your portfolio to compound), what would you think (other than that he was completely Looney Tunes)? But that's exactly what the Federal Reserve has done by keeping interest rates low. It has reduced the fixed-income returns in retirement plans and the broad pension plans upon which so many people are dependent to practically nothing. And the Fed has done this to prop up asset prices....
  • Don't Blame "Baby Boomers" For Not Retiring - They Can't Afford To!

    09/27/2016 6:25:46 PM PDT · by Be Careful · 48 replies
    ZeroHedge ^ | 9/27/16 | Tyler Durden
    In business, the 80/20 rule states that 80% of your business will come from 20% of your customers. In an economy where more than 2/3rds of the growth rate is driven by consumption, an even bigger imbalance of the “have” and “have not’s” presents a major headwind.
  • Can Pennsylvania confiscate your IRA? Under a new law, maybe

    09/12/2016 7:44:05 AM PDT · by george76 · 17 replies
    Inquirer ^ | SEPTEMBER 12, 2016 | Erin E. Arvedlund
    The law, which took effect Saturday, allows Pennsylvania to seize some retirement accounts three years after they're presumed abandoned - regardless of the account owner's age. Previously, the state waited until individuals reached age 701/2 before seizing retirement accounts and liquidating the portfolios. Now, older folks and famously contact-averse millennials could be affected. Valley Forge-based Vanguard, with more than $3 trillion in assets, isn't happy about the state's budget-inspired change and plans to join forces with others in the financial industry to repeal the law next year. ... For those who opt to communicate electronically, the "lost contact" trigger is...
  • In Pennsylvania, baby boomers see the American Dream slipping away

    09/01/2016 4:21:23 PM PDT · by pabianice · 60 replies
    Boston Globe ^ | 9/1/16 | Viser
    "...Now many in that class are turning 58 years old, and Butler is a shell of what it was four decades ago, with the mills long-since shuttered or shrunk — casualties of the globalized steel industry — taking most of the jobs and that old sense of security with them. People here are approaching their golden years with a sense of bitterness about the new, unforgiving economy and foreboding about what they will have to show for this life. Something their parents could count on — a comfortable retirement, debt-free and maybe in a warmer place — seems out of...
  • Underfunded Pensions: A Tale of Two Counties

    08/29/2016 11:41:22 AM PDT · by MichCapCon · 13 replies
    Michigan Capitol Confidential ^ | 8/26/2016 | Derek Draplin
    The state’s largest 100 municipalities owe more than $4.2 billion in unfunded pension benefits to their employees, and Michigan’s 83 counties add another $2.5 billion to the total. Wayne County’s experience shows how this underfunding arose, while Oakland County shows the way out. Most Wayne County communities run a defined benefit pension plan for their employees, and most of them are significantly underfunded. Detroit was allowed to keep enrolling new employees in a smaller defined benefit plan after it left bankruptcy court and received a state bailout. Foreseeing such problems, in 1994 Oakland County closed its defined benefit pensions to...
  • FReeper input: Thinking of retiring to western North Carolina

    08/19/2016 8:30:58 AM PDT · by nuconvert · 128 replies
    Thinking of retiring to western N.C. I'd love a log cabin in the mountains with modern amenities, but don't want to be too far from Dr's, grocery shopping, hospitals, etc., so a good mtn view would suffice. I've been looking north, west & east of Asheville and also in the Lenoir area and further south of Lenoir. I'm watching the weather, and reading N.C newspapers and it seems like flooding can be a real problem. Any suggestions/warnings from North Carolinians, especially regarding areas to avoid, would be helpful. Thanks
  • Arianna Huffington signs off at The Huffington Post

    08/11/2016 8:43:34 AM PDT · by PROCON · 33 replies
    AP ^ | Aug. 11, 2016
    NEW YORK (AP) — The Huffington Post is going to be without a Huffington. Arianna Huffington, The Huffington Post's editor-in-chief, announced Thursday that she's leaving to head a new health, wellbeing and productivity startup.
  • A-ROD retiring from Yankees

    08/07/2016 8:04:16 AM PDT · by campaignPete R-CT · 52 replies
    Aug 7 2016 | self
    Yankees say A-Rod's last game will be on August 12th; will then assume role as special advisor and instructor.
  • America's Aging Baby Boomers, Forced To Work Until Death, Blamed For Collapsing US Productivity

    08/01/2016 5:29:28 PM PDT · by vannrox · 77 replies
    zero hedge ^ | 31 July 2016 | Tyler Durden
    America's Aging Baby Boomers, Forced To Work Until Death, Blamed For Collapsing US Productivity by Tyler Durden Jul 29, 2016 1:33 PM 0 SHARES The graying of America's workforce will come as no surprise to regular readers. Just earlier this month, we wrote that in a little noticed aspect of the "stellar" June jobs report, the vast majority - or 90% of all new jobs - went to workers 55 and older. Hardly an outlier, this was the latest confirmation of a very troubling trend: all jobs created since the recession started in December 2007 have gone to workers 55 and...
  • World’s Biggest Pension Fund Loses $51 Billion in Stock Rout

    07/30/2016 6:26:17 AM PDT · by CorporateStepsister · 13 replies
    Bloomberg ^ | July 30 2016 | Yuko Takeo and Shigeki Nozawa
    Japan’s $1.3 trillion Government Pension Investment Fund lost 3.8 percent in the year ended March 31, or 5.3 trillion yen ($51 billion), the retirement manager said Friday in Tokyo. That’s the biggest drop since the fiscal year ended March 31, 2009. GPIF lost 10.8 percent on domestic equities and 9.6 percent on shares in other markets, while Japanese bonds handed the fund a 4.1 percent gain.
  • Time to Say Thank You and Goodbye to Sen. McCain

    07/28/2016 8:46:48 AM PDT · by Cheerio · 55 replies
    Brietbart ^ | 27 Jul 2016 | Rep. Louie Gohmert (R-TX)
    John McCain was a pilot in Viet Nam and there is no question that he and his fellow POWs suffered immeasurably in the Hanoi Hilton. For that we owe them all a debt of gratitude. Yet that does not give any one person the right to do harm to our country from a legislative position nor to put others in peril around the world by ill-conceived policy. Since I have been in Congress, Senator John McCain has pushed an agenda ranging from blanket amnesty for illegal aliens to support for President Barrack Obama’s and then Secretary of State Hillary Clinton’s...
  • CalPERS posts worst year since 2009, with slim returns

    07/18/2016 8:56:52 PM PDT · by bkopto · 29 replies
    LA Times ^ | July 18, 2016 | James Koren
    California’s largest public pension fund made a return of less than 1% in its most recent fiscal year, the fund’s worst performance since 2009. The California Public Employees’ Retirement System said Monday that its rate of return for the year ended June 30 was just 0.61%. What’s more, Ted Eliopoulos, the pension fund’s chief investment officer, said the poor year has pushed CalPERS’ long-term returns below expected levels. “We have some challenges to confront,” Eliopoulos said during a conference call. “We’re moving into a much more challenging, low-return environment.” CalPERS assumes that, in the long-term, it will earn investment returns...
  • Report: Japan's Emperor Akihito, 82, considering retiring

    07/13/2016 5:18:49 AM PDT · by Olog-hai · 15 replies
    Associated Press ^ | Jul 13, 2016 7:01 AM EDT
    Japan’s Emperor Akihito has expressed his intention to retire and relinquish his title in the next few years, the country’s public television said Wednesday. NHK said the 82-year-old Akihito did not wish to remain emperor if he had to reduce his official duties. […] It was not known if he had a timeline to relinquish his title to Crown Prince Naruhito. …
  • TEAMSTERS (IBT) Nash Finally Sentenced, Gets Off Easy

    04/16/2002 2:52:21 PM PDT · by knak · 10 replies · 564+ views
    nlpc ^ | 4/15/02
    Almost 55 months after confessing felonious conduct, Teamster money-laundering scandal figure, Jere Nash, has finally been sentenced. U.S. Dist. Judge Thomas P. Griesa (S.D.N.Y., Nixon) sentenced Nash Apr. 9 to a mere two years probation for his role in a series of schemes which lead to the embezzlement of some $885,000 from the Int'l Bhd. of Teamsters' treasury and to $538,100 in illegal campaign contributions to the failed reelection campaign of expelled IBT president Ron Carey. The sentencing appears to have been hush hush: the four N.Y.C. major dailies and the two Washington, D.C., dailies apparently did not cover the...
  • Benedict Endorses Pope Francis in Unprecedented Vatican Ceremony

    06/28/2016 10:24:02 AM PDT · by marshmallow · 28 replies
    The Guardian (UK) ^ | 8/28/16 | AP
    Backing from retired pope at event to mark his 65th year as a priest may help Francis gain favour among church conservativesBenedict XVI has endorsed Pope Francis’s ministry in an unprecedented Vatican ceremony featuring a reigning pontiff honouring a retired one on the 65th anniversary of his ordination as a priest. The ceremony in the Clementine Hall of the Apostolic Palace served in part to show continuity from Benedict to Francis amid continued nostalgia from some conservatives for the former’s tradition-minded papacy. Francis had invited the entire Vatican Curia, or bureaucracy, to celebrate Benedict’s anniversary, and prelates turned out in...
  • Oberlin College offers buyouts to faculty and staff

    06/26/2016 1:40:55 PM PDT · by george76 · 23 replies
    cleveland ^ | June 24, 2016 | Karen Farkas
    OBERLIN, Ohio - Oberlin College, in an effort to save several million dollars a year, has offered buyouts to 323 faculty and staff. Buyout offers at colleges are rare but have become a way to encourage professors, whose positions are protected by tenure, to retire. Oberlin offered the Voluntary Separation Incentive Plan to employees, including 100 faculty, in April. The college expects about 85 individuals to accept the offer ... The board of trustees agreed to slow the rate of tuition increase from 3.9 percent to 2.8 percent in the 2016 fiscal year, which will result in $2.1 million in...
  • Veteran Forcibly Dragged from Air Force Ceremony for Mentioning God

    06/20/2016 3:56:19 AM PDT · by Cato in PA · 58 replies
    Breitbart News ^ | 6/20/2016 | Breitbart News
    When a veteran started offering traditional remarks at a military flag-folding ceremony, several uniformed airmen assaulted him, dragging him out of the room because his remarks mentioned God. Now First Liberty Institute lawyers representing retired Senior Master Sergeant Oscar Rodriguez are demanding that the U.S. Air Force apologize and punish those responsible or face a federal civil-rights lawsuit.
  • Wife just got laid off, retirement, age 59 1/2 relevant?

    06/18/2016 7:08:00 AM PDT · by George from New England · 71 replies
    Wife worked full-time at an organized church office for 9 1/2 years now. Worked 35 hours a week and received insurance and health care benefits, etc. Fiscal year cycles at June 30. She was the elimination of her position this past week and given the option to continue at 19 hours a week, part time. She has said no, she needs a job with benefits. They surprised her yesterday, Friday, with her last day worked. Their letter says she is paid until end of June and 4 weeks into July for sick days and left over vacation time. Now her...
  • Pope rules out retiring like his predecessor

    05/29/2016 11:00:51 AM PDT · by Olog-hai · 19 replies
    Associated Press ^ | May 29, 2016 1:39 PM EDT
    Pope Francis says he has no intention of quitting the papacy — a possibility opened up by his predecessor Emeritus Pope Benedict XVI. The pope, responding to a question from a young person at a Vatican event, said on Sunday “I never thought of quitting being pope, or of leaving because of the many responsibilities.” …
  • Treasury rejects plan to slash Teamsters pension benefits

    05/06/2016 7:34:51 PM PDT · by Olog-hai · 16 replies
    Associated Press ^ | May 6, 2016 6:01 PM EDT | Martin Crutsinger
    The Treasury Department on Friday rejected an effort by the Teamsters Central States Pension Plan to cut benefits for 270,000 retired workers starting in July. Treasury Secretary Jacob Lew said in a letter to members of Congress that while the decision blocks the pending pension cuts, it does not resolve the issue because the pension plan remains severely underfunded and is projected to become insolvent within the next 10 years. …
  • The market is going to suck for the next 10 years, you're going to have to double your life savings

    04/27/2016 5:26:17 PM PDT · by SeekAndFind · 37 replies
    Business Insider ^ | 04/27/2016 | Rachel Butt
    The "golden age" of stock market returns is over.That's the summary of a big piece of research from the McKinsey Global Institute (MGI), which estimated returns over the next 20 years in US and Western European markets under two scenarios. The first assumes that today's slow-growth environment remains, while the second models faster growth as technology improves.It concluded that in neither case would returns match those of the past 30 years. For US and European stocks, the difference between past and future annual returns could range from 1.5 percentage points to 4 percentage points. The gap for fixed-income could be...
  • One of the nation’s largest pension funds could soon cut benefits for retirees

    04/21/2016 8:26:05 AM PDT · by pabianice · 26 replies
    MSN ^ | 4/21/16 | Marte
    More than a quarter of a million truckers, retirees and their families could soon see their pension benefits severely cut — even though their pension fund is still years away from running out of money. Within the next few weeks, the Treasury Department is expected to announce a crucial decision on whether it will approve reductions to one of the country’s largest multi-employer pension plans. The potential cuts are possible under legislation passed by Congress in 2014 that for the first time allowed financially distressed multi-employer plans to reduce benefits for retirees if it would improve the solvency of the...
  • US Faces ‘Disastrous’ $3.4 Trillion Pension Funding Hole

    04/11/2016 7:28:43 PM PDT · by Lorianne · 27 replies
    Financial Times ^ | 10 April 2016 | Attica Mooney
    The US public pension system has developed a $3.4tn funding hole that will pile pressure on cities and states to cut spending or raise taxes to avoid Detroit-style bankruptcies. According to academic research shared exclusively with FTfm, the collective funding shortfall of US public pension funds is three times larger than official figures showed, and is getting bigger. Devin Nunes, a US Republican congressman, said: “It has been clear for years that many cities and states are critically underfunding their pension programmes and hiding the fiscal holes with accounting tricks.” Mr Nunes, who put forward a bill to the House...
  • They Want Your IRA (White House pushes investors toward government accounts)

    04/10/2016 12:10:30 PM PDT · by Red in Blue PA · 40 replies
    President Obama’s regulators aren’t slowing down, alas. And on Wednesday they unveiled another part of their plan to push Americans out of private investment accounts and into government-run plans.
  • Sound the Alarm: New Obama Regulations Will Push Private Retirement Savings Into Government Accounts

    04/09/2016 5:29:50 PM PDT · by Libloather · 104 replies
    Townhall ^ | 4/08/16 | Katie Pavlich
    If you thought Obamacare was terrifying, just wait until you read about what President Obama's regulatory agencies are planning to do with your retirement savings. According to an alarming report in the Wall Street Journal, government regulators at the Labor Department will be implementing new rules at the end of the year that will eventually force private retirement investments into government accounts. How? By making private investment options, specifically IRAs, too burdensome, a liability and expensive. Bolding is mine.
  • Alex Rodriguez will retire after next season

    03/23/2016 11:55:14 AM PDT · by oh8eleven · 33 replies
    NY Post ^ | 23 March 2016 | Sports Desk
    The Yankees star told that he will hang up his cleats after the 2017 season when his contract with the team runs out.
  • How Men and Women Want Different Things in Retirement

    03/21/2016 5:02:05 AM PDT · by tlozo · 59 replies
    The Wall Street Journal ^ | March 20, 2016 | Lisa Ward
    A study finds that men are far more motivated than women to retire so they can spend time with their spouses. Spending more quality time with your partner is one reason to retire, right? Well, that may depend on whether you ask a man or a woman—and the difference may be a warning sign for men... While nearly 60% of men said having time to spend with their spouse or partner was a strong factor influencing their decision to retire, only 43% of women said the same. Far more women, 71%, cited the prospect of spending time with their grandchildren....
  • Graying of America could hit Sarasota hard

    03/14/2016 7:14:30 PM PDT · by Tolerance Sucks Rocks · 23 replies
    Tampa Bay Business Journal ^ | March 14, 2016 | Margie Manning
    The economic boom that Florida is experiencing now from population gains could lead to labor shortages and a drain on state resources in the future, according to a new report from the Federal Reserve Bank of Atlanta. Sarasota could be among the communities hardest hit by the graying of America, the report said. That’s because the city is an affluent community, and it may be hard for the caregivers who serve the elderly and tend to be lower paid to afford to live there, the report said.
  • Not ready to retire, but not finding work: The Over 50's in America

    03/12/2016 11:50:43 AM PST · by SeekAndFind · 107 replies
    Washington Post ^ | 03/12/2016 | Rodney Brooks
    A friend recently called to tell me he had been laid off from a company where he worked for more than a decade. He’s 60 years old and not ready to retire, either financially or emotionally. He is, however, prepared for the reality of the situation. He recognizes that he has a tough road ahead. He knows he probably won’t ever earn the salary he had. And even for a much lower-paying job, he’ll be competing with people half his age. Need proof of that? A GAO report in 2012, the most recent available, said unemployed workers 55 and older...
  • Here's how much the average US family has saved for retirement

    03/04/2016 8:35:23 PM PST · by MtnClimber · 75 replies
    Business Insider ^ | 3 Mar, 2016 | Kathleen Elkins
    Nearly half of American families have no retirement account savings at all. That's what the Economic Policy Institute (EPI) found in a new report, "The State of American Retirement," which dives into the retirement preparedness of American workers. The EPI broke down the percentage of families with retirement savings by age. Those between 56 and 61 are more likely to have an account (61%), while those between 32 and 37 are least likely to have one (51%). Scroll over the chart to see how the percentages have changed for different age groups over time: (chart at link) The average retirement...
  • REPORT: Feds Are Destroying Free Choice In The Retirement System

    03/01/2016 10:33:14 PM PST · by Mr Apple · 21 replies
    The Daily Caller ^ | March 2, 2016 | Connor D. Wolf
    Federal labor officials may soon destroy free choice in the retirement system by overhauling investment regulations, according to a report Wednesday. The Department of Labor (DOL) has argued people are just not knowledgeable enough to plan for their own retirement. It has proposed a rule to categorize more people...
  • Here’s why (and how) the government will ‘borrow’ your retirement savings

    02/27/2016 1:15:20 PM PST · by SkyPilot · 55 replies copied onto ZeroHedge ^ | February 15, 201616 copied by ZeroHedge on Feb 16 | Simon Black copied by Tyler Durden
    According to financial research firm ICI, total retirement assets in the Land of the Free now exceed $23 trillion. $7.3 trillion of that is held in Individual Retirement Accounts (IRAs). That’s an appetizing figure, especially for a government that just passed $19 trillion in debt and is in pressing need of new funding sources. Even when you account for all federal assets (like national parks and aircraft carriers), the government’s "net financial position" according to its own accounting is negative $17.7 trillion. And that number doesn’t include unfunded Social Security entitlements, which the government estimates is another $42 trillion. The...
  • U.S. Rep. Reid Ribble to retire later this year

    01/30/2016 11:09:42 PM PST · by Impy · 23 replies
    Milwaukee Journal Sentinel ^ | 1-30-16 | John Diedrich
    U.S. Rep. Reid Ribble (R-Wis.) announced late Saturday he will not seek re-election. The former roofing contractor from Neenah issued a statement saying he wanted to spend more time with his family.
  • WH Unveils ObamaSave: Employer Mandate, Mandatory Enrollment, State-Run Marketplaces

    Tuesday, the White House unveiled a plan to overhaul retirement savings that is eerily similar to ObamaCare in at least three fundamental ways. Introduced as a “Fact Sheet” on, Pres. Obama’s plan to revamp retirement savings mimics his controversial healthcare law: Individual participation is required, not optional, There’s an employer mandate, State-run marketplaces are created The employer mandate would require employers to “automatically enroll their workers in an IRA” – with, or without, their consent – making employee participation compulsory:
  • Obama Administration Waives Penalty Against Convicted Bank Credit Suisse (received pmts)

    10/27/2015 9:17:53 AM PDT · by Titus-Maximus · 13 replies
    International Business Times ^ | 10/26/2015 | David Sirota
    Only weeks after the White House made headlines with a directive urging prosecutors to get tougher on corporate crime, the Obama administration has moved to protect a convicted financial firm from punishment. The bank, Credit Suisse, has donated hundreds of thousands of dollars to President Barack Obama’s political campaigns. It also employs the Podesta Group, a lobbying firm with family connections to the Obama administration and Hillary Clinton’s 2016 campaign. In 2014, Credit Suisse pleaded guilty to criminal charges for operating “an illegal cross-border banking business that knowingly and willfully aided and assisted thousands of U.S. clients in opening and...
  • Rep. Israel: I’m leaving Congress because of fundraising

    01/17/2016 1:24:50 PM PST · by Olog-hai · 14 replies
    The Hill ^ | January 17, 2016, 06:00 am | Peter Sullivan
    Rep. Steve Israel (D-N.Y.) says the demands of fundraising helped drive him to retirement, and he is pushing for campaign finance reform. Israel, a prominent House Democrat who once headed up the Democratic Congressional Campaign Committee, announced earlier this month that he will not run for reelection. ...
  • Bernie Sanders: Let’s face it, I can appeal to Trump's voters

    12/28/2015 3:33:20 PM PST · by Kaslin · 60 replies
    Hot ^ | December 28, 2015 | ALLAHPUNDIT
    Preposterous. They’re nothing alike. Sanders is an unorthodox Democrat who supports universal health care and trade protectionism but also tighter borders and stronger gun rights than most liberals do. Trump, on the other hand, is … wait a sec. Hmmm. Where was I going with this again? The strangest thing: I've met a number of Trump rally attendees who say their top two are Trump and Sanders. Seriously. Or in reverse.— Sopan Deb (@SopanDeb) December 28, 2015 We’re in a weird place when Bernie Sanders and Ted Cruz are both competing to be the second choice of another guy’s base,...
  • Six Financial Mistakes People Make When Retiring Abroad: Do not run afoul of IRS rules

    12/18/2015 7:08:35 AM PST · by SeekAndFind · 16 replies
    Wall Street Journal ^ | 12/17/2015 | By ANNE TERGESEN
    Retiring abroad may sound idyllic. But those who fall short on financial planning can pay a big price. For the 380,000 retirees who live abroad, according to the Social Security Administration—up from 307,000 in 2008—the potential missteps are numerous. Amid a U.S. crackdown on money laundering, tax evasion and non-compliance with tax-reporting obligations, some expats are being cut off by their banks and brokerage firms. Others are running afoul of the Internal Revenue Service. Many are discovering that tax treaties don't always fully protect them from double taxation. "People rarely understand the complexity of cross-border moves," says Jonathan Lachowitz, founder...
  • Pushing Aside 401(k)’s for Mandatory Savings Plans

    12/17/2015 1:48:41 PM PST · by QT3.14 · 71 replies
    NYT ^ | December 11, 2015 | Mark Miller
    Tony James and Teresa Ghilarducci are unlikely allies. He is president of Blackstone, the giant private equity firm; she’s a labor economist who has long advocated replacing 401(k)’s with a universal, federally managed saving plan.But the two have teamed up to push what they are calling Guaranteed Retirement Accounts, a government-sponsored plan that would require participation and contributions from any employer without its own 401(k). They both view the 401(k) defined contribution retirement system as a faulty experiment that covers too few workers, generates inadequate savings and replaces too little income in retirement.
  • Martin Dempsey’s World Is Falling Apart

    09/26/2015 6:40:02 PM PDT · by Elderberry · 20 replies
    Politico ^ | 9/26/2015 | James Kitfield
    BERLIN—As his convoy sliced lights flashing through the busy streets of Berlin on a recent morning, Gen. Martin Dempsey could see a good part of his own career. He could see through the tinted windows of his limousine the bombed out ruins of the World War II-era Kaiser Wilhelm Memorial Church, and the Brandenburg Gate where the Iron Curtain once placed Germany on the front lines of the Cold War—and where as a young Army lieutenant Dempsey helped guard the border against massed Soviet and Warsaw Pact forces. Soon the convoy would arrive at the German Ministry of Defense where...
  • 8 Depressing Stats About America’s Retirement Savings

    11/28/2015 6:15:46 AM PST · by SeekAndFind · 89 replies
    Fund Reference ^ | 11/27/2015 | BY MICHAEL JOHNSTON
    Only a small percentage of Americans are positioning themselves for a smooth transition to retirement. Based on the composition of the financial media, one may imagine that the bulk of American households are consumed with avoiding psychological investing traps and choosing between the various forms of smart beta. Unfortunately, however, these “challenges” are only applicable to a small segment of the population that has meaningful financial assets (or a realistic plan to acquire them). Below are eight statistics that better illustrate the status of American retirement savings, pulled from multiple recent studies.33.7: Percentage of U.S. Households with an IRA According...
  • CIA’s Top Spy Steps Down

    01/23/2015 4:05:32 PM PST · by Enlightened1 · 8 replies
    The Daily Beast ^ | 01/23/15 | Shane Harris
    The secretive head of the agency’s National Clandestine Service is retiring amid reports of infighting over a reorganization of the intelligence service. The director of the CIA’s National Clandestine Service, the storied home of the agency’s most secretive intelligence operations, has announced that he plans to retire, The Daily Beast has learned. CIA spokesman Dean Boyd confirmed that the director announced his retirement “after a long and distinguished career at CIA. We thank him for this profound and lasting contributions to both CIA and to our nation’s security.”
  • Questions for Army Retirees

    10/27/2015 11:27:32 AM PDT · by Marie · 29 replies
    self ^ | 10/27/2015 | self
    Hello, FReepers! Hubs is getting ready to retire from the military and we're having some trouble getting straight answers on the TriCare Prime for retirees situation. Specifically, the family coverage. (I need it) Cost is the big one. I'm seeing everything from $555 a year to more than $960 a month. It's very frustrating because we're trying to figure out our post-retirement budget.
  • Illinois To Delay Pension Payments Amid Budget Woes: [Trunc]

    10/14/2015 12:31:43 PM PDT · by amorphous · 17 replies
    Zero Hedge ^ | 14 Oct 2015 | Tyler Durden
    By now, Illinois' budget problems are no secret. Back in May, after the State Supreme Court struck down a pension reform bid, Moody's move to downgrade the city of Chicago thrust the state's financial woes into the national spotlight. Since then, the situation hasn't gotten any better and despite hiring an "all star" budget guru (for $30,000 a month no less), Bruce Rauner was unable to pass a budget in a timely fashion leading directly to all types of absurdities including everything from the possibility of shortened school years to lottery winners being paid in IOUs. Now, as Bloomberg reports,...
  • Baby Boomers are going to struggle to retire

    10/13/2015 12:44:27 PM PDT · by 100American · 160 replies ^ | 2015 | Insured Retirement Institute
    The Insured Retirement Institute has concluded, baby boomers "face a dangerous combination of being under-saved and long-lived." The IRI found four in 10 baby boomers have nothing saved for retirement, and 37% of those who do have savings have less than $100,000 put away. This spells trouble for the average 65-year old male and female who have a 50% chance of living until at least 87 and 89, respectively. The IRI says someone who retires at the age of 65 today will need more than $1 million for retirement while someone who waits until age 70 to retire will need...
  • The Real Reason People Don't Save Enough for Retirement

    10/02/2015 6:30:09 AM PDT · by SeekAndFind · 48 replies
    The Atlantic ^ | 10/02/2015 | TERESA GHILARDUCCI
    Aesop would have had a straightforward explanation for why some people just can’t manage to save up for retirement: Some people are born ants—industrious and in possession of great willpower—while others are grasshoppers, living only for today. Millennia later, sorting workers into personality-specific boxes is still the preferred way of thinking about how to get people to put more money into savings. An otherwise thoughtful survey of over 1,000 individuals and interviews with 50 people by the MetLife Mature Markets Institute identifies no fewer than 10 different variations on the grasshopper: There are “Snoozers,” “Oversleepers,” “Stewers,” “Brewers.” And then there...
  • Lawmaker: Trey Gowdy to leave the House after 2016

    09/30/2015 7:04:38 AM PDT · by GIdget2004 · 44 replies
    Washington Examiner ^ | 09/30/2015 | PETE KASPEROWICZ
    Rep. John Fleming, R-La., said Wednesday morning that Tea Party favorite Rep. Trey Gowdy, R-S.C., won't run for a fourth term, and instead plans to retire at the end of the current Congress to return to his home state. "Trey wants to go back to South Carolina, and God bless him for that," Fleming said on C-SPAN. When asked if that's what Gowdy has told other Republicans, Fleming confirmed it. "At the end of his term, yes," he said. "He plans to go back home, and he wants to finish his work on the Benghazi special committee. But he loves...