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Keyword: retirement

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  • Among those advising Obama on his future plans: Eva Longoria, report says (Freeper advice needed)

    08/18/2015 3:33:49 AM PDT · by Zakeet · 17 replies
    Fox News ^ | August 17, 2015
    Actress Eva Longoria is offering her advice to President Barack Obama on what he should do after leaving office in January 2017. According to the New York Times, the Mexican-American actress is part of a select group of high-profile people who are advising the president during midnight meetings at the White House.
  • Things to know about Social Security at 80: Is It Overhaul time?

    08/14/2015 5:06:42 AM PDT · by SeekAndFind · 26 replies
    Yahoo Finance via AP ^ | 08/14/2015 | By Stephen Ohlemacher, Associated Press
    Social Security turns 80 on Friday, and the massive retirement and disability program is showing its age. Social Security's disability fund is projected to run dry next year. The retirement fund has enough money to pay full benefits until 2035. But once the fund is depleted, the shortfalls are projected to be enormous. The stakes are huge: Nearly 60 million retirees, disabled workers, spouses and children get monthly Social Security payments, and that number is projected to grow to 90 million over the next two decades. And the timing is bad: Social Security faces these problems as fewer employers are...
  • 7 Reasons Women Are Getting the Heck Out of Dodge and Seeking Their Dreams Overseas

    08/03/2015 2:09:53 PM PDT · by lulu16 · 128 replies
    What do you do when you want something more and different than you’re getting in your home country? For an increasing number of 60+ women, the answer is to move overseas. According to the data we collected through our website, Best Places in the World to Retire, there can be a better life out there, if you are willing to uproot and reinvent yourself as an expat in Belize, Nicaragua or Panama. In addition to the over 5,000 answers and 200 stories on our website, in early July, we released Expats: Expectations & Reality, the first in a series of...
  • BLACKSTONE PRESIDENT: There's a hidden crisis in America that no one is talking about

    07/20/2015 8:08:48 AM PDT · by SeekAndFind · 19 replies
    Business Insider ^ | 07/20/2015 | Bob Bryan
    If you haven't taken it upon yourself to start saving for retirement, you could already be in trouble. Even worse, you could be part of a national crisis that's brewing under everyone's radars. In an earnings call Thursday, Blackstone president and COO Tony James articulated the problem and its origins. "I have the view that the hidden crisis in America that no one is talking about is what's going to happen with all of these 20, 30, 40-year-olds who no longer have corporate pension funds of defined benefit," he said. "So, they have got 401(k)s and they are making little...
  • No Jobs for the Young, No Retirement for the Old [Financial Insecurity rising for everyone]

    07/08/2015 2:35:31 PM PDT · by SeekAndFind · 18 replies
    Of Two Minds ^ | 07/08/2015 | Charles Hugh Smith
    We shouldn't wonder why people are working into their 70s--we should wonder why anyone retires, assuming they'll still be receiving their full pension in five years.You may have seen a variation of this chart of employment in the U.S. by age group. This chart--courtesy of mdbriefing.com-- shows the number of those employed (with any kind of job--full-time, part-time, self-employed) as a percentage of the Civilian Noninstitutional Population (CNP), which includes everyone 16 years of age and older who is not institutionalized or on active duty in the Armed Forces. A number of striking features pop out of this chart: 1....
  • The Coming Era of Pension Poverty

    07/02/2015 9:08:11 AM PDT · by SeekAndFind · 18 replies
    Of Two Minds ^ | 07/02/2015 | Charles Hugh Smith
    Assuming "growth" will fund all promised pensions and entitlements is magical thinking.The core problem with pension plans is that the promises were issued without regard for the revenues needed to pay the promises. Lulled by 60 years of global growth since 1945, those in charge of entitlements and publicly funded pensions assumed that "growth"--of GDP, tax revenues, employment and everything else--would always rise faster than the costs of the promised pensions and entitlements.But due to demographics and a structurally stagnant economy, entitlements and pension costs are rising at a much faster rate than the revenues needed to pay the promised...
  • Brett Favre in SI: 'I think I could play'

    06/30/2015 11:39:47 AM PDT · by afraidfortherepublic · 9 replies
    Milwaukee Journal Sentinel ^ | 6-30-15 | JS Sports Blog
    Brett Favre, wearing his old Green Bay Packers No. 4 jersey, is featured on the cover of Sports Illustrated this week as part of the magazine's "Where are They Now" issue. Favre voices many of the same thoughts he did back in October when Journal Sentinel reporter Tyler Dunne visited him at his home in Mississippi, talking about his life today, the physical toll the game took on him, his reconciliation with the Packers after the messy departure in 2008, and more. He also thinks he could still play in the NFL – sort of. "I think I could play,"...
  • A Costly Medicare Surprise Awaits Retirees

    06/24/2015 8:14:41 AM PDT · by mac_truck · 33 replies
    Kiplingers ^ | 6/17/2015 | Susan B. Garland
    Days spent in the hospital as an outpatient, rather than being officially admitted, can leave Medicare patients with bigger bills. It's bad enough spending three or more days in a hospital -- undergoing a barrage of medical tests and procedures. Brace yourself for even more pain at discharge if the hospital tells you that you were actually never admitted but were on Medicare "observation status." That designation could cost you big time. Hospitalized Medicare beneficiaries who are under observation are considered outpatients, even if they spend many days in the hospital. If you find yourself in this boat, there's a...
  • SHOULD WE RETIRE RETIREMENT?

    06/10/2015 7:37:19 AM PDT · by shortstop · 90 replies
    boblonsberry.com ^ | 06/10/15 | Bob Lonsberry
    I’m not sure retirement is a good thing. Not the way it’s done now. The way it’s done now, it seems to me that we’re marginalizing our most skilled workers, fostering idlers and turning old age into a near useless stage of life. It used to be that people didn’t retire. They worked til they died. And if they couldn’t work, hopefully their family or their church took care of them. But everyone who was physically and mentally able to do some useful task did so. The difficulty arose when people became what used to be called senile, or when...
  • Nearly one-third of Americans have no retirement savings

    05/28/2015 6:32:55 PM PDT · by SeekAndFind · 49 replies
    The Week ^ | 05/27/2015
    Only 63 percent of Americans have saved any money for retirement within the past year, according to a Federal Reserve survey released Wednesday.The survey of 5,800 Americans, conducted last fall, found that 31 percent of Americans have no retirement savings or pension plans. And among adults older than 45, almost 25 percent of respondents didn't have retirement savings. Thirty-eight percent of respondents, meanwhile, said they don't plan on retiring and will "keep working as long as possible," USA Today reports.
  • ‘Kiss your pension fund goodbye’? Economist warns government could seize 401(k)s

    05/25/2015 5:06:04 PM PDT · by SkyPilot · 81 replies
    Economic Collapse News ^ | 25 May 2015 | Andrew Moran
    The United States government could start seizing 401(k) plans, says one economist who believes a recent Supreme Court ruling sets the stage for Washington to initiate any such plans. Economist Martin Armstrong published a blog post Monday that took a look at the recent Tibble v. Edison case. The court concluded that employers have an obligation to protect their workers’ 401(k) plans from mutual funds that provide deplorable returns. Armstrong thinks this could give the federal government the arsenal to begin seizing private funds and take companies to court if mutual funds perform poorly. This comes as the Obama administration...
  • Good Riddance to David Letterman: A lefty sycophant limos off into the sunset.

    05/23/2015 5:36:31 PM PDT · by SeekAndFind · 91 replies
    Frontpage Mag ^ | 05/22/2015 | Daniel Greenfield
    David LettermanÂ’s departure isnÂ’t the end of an era. The era of late night talk shows ended a while back. In Johnny CarsonÂ’s final week in the nineties, he played to an audience of twenty million. Lately, Letterman has been lucky to get 2 million. His final shows have played to around 5 million viewers.Late night talk shows still exist, but their intended audience mainly watches viral clips from them the next day. The average age of LettermanÂ’s audience is 54. CBS hopes that the equally smarmy Stephen Colbert will be able to bring his younger audience demo with him,...
  • Teamsters spend big on politics while preparing to cut pensions

    05/21/2015 6:25:39 AM PDT · by rktman · 13 replies
    washingtontimes.com ^ | 5/20/2015 | Jeffrey Scott Shapiro
    The Teamsters have begun informing retirees and current workers that their pension benefits may soon be cut, the final ironic twist to a lobbying campaign that saw the union spend its own members' dollars to win the right to shrink their retirement pay. The somber notifications began going out from the Teamsters Central States Health and Welfare Pension Fund this spring, a decision that could ultimately affect 410,000 current pension participants and a total of more than 10 million U.S. workers nationwide. Cuts could begin as early as next year.
  • Why CalPERS retirees flee California

    05/13/2015 8:46:48 PM PDT · by artichokegrower · 41 replies
    Sacramento Bee ^ | May 11, 2015 | Jon Ortiz
    This city’s Spanish name recalls grassy, spring-fed meadows that nourished the first farms here and gave laborers relief from desert heat. Now Las Vegas draws a new generation of settlers epitomized by California transplant Joe Beck: CalPERS pensioners who have made Sin City their No. 1 destination for retirement outside California. Read more here: http://www.sacbee.com/news/politics-government/the-state-worker/article20702106.html#storylink=cpy
  • Will Obama join Amal at Columbia (University Law School) post-White House?

    04/27/2015 8:47:31 AM PDT · by Zakeet · 23 replies
    NY Post ^ | April 27, 2015
    President Obama is rumored to be in talks to move to New York and teach as a professor at Columbia Law School once his time in the White House is over. The president has strong links to Columbia University: He was a transfer student from California’s Occidental College in 1981 as a 20-year-old junior, and graduated from Columbia in 1983. Obama also taught courses in constitutional law at the University of Chicago from 1992 until his election to the US Senate in 2004. He was a senior lecturer from 1996 to 2004, during which time he taught three courses per...
  • Obamacare for Your IRA

    04/27/2015 3:06:57 AM PDT · by markomalley · 36 replies
    National Review ^ | 4/27/15 | John Berlau
    Is Jonathan Gruber — the MIT economist who seemingly dropped out of public view after he was caught on camera bragging about how he and other Obamacare architects misled the American public — now advising the Department of Labor? No evidence indicates that he is, but the authors of DOL’s sweeping new seven-part group of regulations that would sharply curtail choices of assets and investment strategies in 401(k)s, IRAs, and other savings plans appear to share Gruber’s mindset on the “stupidity of the American voter” (a revelation that Rich Lowry aptly described as “an unvarnished look into the progressive mind,...
  • How to Save $1 Million In Your 401(k)

    04/25/2015 8:04:12 AM PDT · by TurboZamboni · 44 replies
    MarketWatch ^ | 3-31-15 | Andrea Coombes
    Got $1 million in your 401(k)? Some savers might be surprised how feasible that savings goal is if they put their mind — and their money — to it. Of course, if you don’t have $1 million saved, you’re definitely not alone. Just 0.42 percent of all 401(k) participants in the Employee Benefit Research Institute’s database had $1 million or more in their account at the end of 2013. EBRI’s data covers 26.4 million savers. Similarly, just a tad more than 72,000 retirement savers, or 0.56 percent of the 13 million plan participants in its database, had $1 million or...
  • Is there one country left free of communism where one can retire?

    04/10/2015 8:35:05 AM PDT · by Sean_Anthony · 49 replies
    Canada Free Press ^ | 04/10/15 | Dr. Ileana Johnson Paugh
    Communism has gone global Many Americans have asked me where they could retire away from this country’s advancement towards Marxism. I was wracking my brain trying to find a place that would be suitable for my retirement years where I could continue to live in the relative freedom I found in the 1970s America. As long as we follow the law, we have nothing to hide and nothing to fear except the arm of “environmental justice” and “social justice.” After all, who wants to live their formative youth years under the Iron Curtain of communism and then their retirement years...
  • Obama supports reduction in military retirement pay

    03/30/2015 1:08:15 PM PDT · by jazusamo · 54 replies
    The Washington Times ^ | March 30, 2015 | Dave Boyer
    President Obama said Monday he supports the recommendations of a military commission that would reduce the size of traditional military retirement pay by about 20 percent and offer a new defined-contribution benefit for troops who leave before 20 years of service. In a letter to congressional leaders, Mr. Obama said the proposals are “an important step forward in protecting the long-term viability of the all-volunteer force, improving quality-of-life for service members and their families, and ensuring the fiscal sustainability of the military compensation and retirement systems.” Mr. Obama said he has directed his advisers to refine some recommendations, and that...
  • Corruption Scandals Led to Harry Reid’s Abrupt “Retirement”

    03/30/2015 10:17:29 AM PDT · by jazusamo · 24 replies
    Judicial Watch ^ | March 30, 2015
    You’d never know it from the mainstream media puff pieces of Harry Reid’s sudden retirement, but it was a long string of corruption scandals—including a recent one involving his attorney son—that drove the veteran Nevada senator to abruptly leave public office. For nearly a decade Judicial Watch has investigated and exposed Reid’s involvement in a multitude of transgressions and JW even warned the Senate Ethics Committee, but not surprisingly, no action was ever taken. On multiple occasions the Senate minority leader appeared on JW’s “Ten Most Wanted Corrupt Politicians” list for his role in a number of political scandals that...
  • So What Really Did Happen to Harry Reid? [It looks like someone actually beat him up...]

    03/30/2015 7:31:33 AM PDT · by SeekAndFind · 65 replies
    Pajamas Media ^ | 03/29/2015 | Michael Walsh
    It’s pretty obvious from the photographs that somebody beat the bejesus out of the soon-to-be-former senator from Nevada. And yet the national media has uncritically swallowed the cover story that “exercise equipment” was to blame for the loss of sight in the former majority leader’s right eye. Baloney. As far as I can tell, the piece of equipment allegedly behind the beatdown of Sen. Pat Geary has not been identified, but I can tell you from experience if the senator was using, say, a Soloflex machine this would be impossible: the weight straps simply come apart without any snapping...
  • Harry Reid to retire

    03/27/2015 7:36:55 AM PDT · by rktman · 47 replies
    wnd.com ^ | 3/27/2015 | Cheryl Chumley
    Sen. Minority Leader Harry Reid, D-Nev., who suffered a serious eye injury while exercising in his home in January, announced what a lot of conservatives have been waiting with bated breath to hear: He’s not seeking reelection. He’s served for about three decades in Congress and has been one of President Obama’s biggest defenders on several of the White House leader’s key agenda pushes. “I understand this place,” he said, the New York Times reported. “I have quite a bit of power as minority leader.”
  • Sneed exclusive: Obamas want to live in New York, not Chicago

    03/13/2015 7:29:40 AM PDT · by 2ndDivisionVet · 147 replies
    The Chicago Sun-Times ^ | March 12, 2015 | Michael Sneed
    Sneed exclusive . . . New York is where they’d rather be. So let’s cut to the chase. Sneed is told by impeccable sources that President Barack Obama and his wife, Michelle, want to live in New York when they leave the White House. “They want New York, plain and simple,” said a top Sneed source who asked to remain anonymous — but has a relationship with the Obamas. “It’s not an unusual decision,” added the source. “The Clintons moved to New York after Bill Clinton left the presidency. It’s a happening place.” “They love the vibe in New York...
  • Study: Many workers could see cuts in pension benefits

    03/11/2015 8:23:57 PM PDT · by Olog-hai · 8 replies
    Associated Press ^ | Mar 11, 2015 3:11 PM EDT
    A new federal study says many workers in employer-funded pension plans that fail could see their benefits reduced under the current system of government support. The study was released Wednesday by the Pension Benefit Guarantee Corp., the federal agency that insures pensions for about 41 million Americans. It found that about half of employers in so-called multi-employer pension plans that fail in the near future will receive reduced payouts. …
  • Here's how much you should have saved up for retirement by now

    03/12/2015 7:52:29 AM PDT · by SeekAndFind · 55 replies
    Business Insider ^ | 03/12/2015 | Sam Ro
    You probably want to retire at some point. But before you can get there, you have to be able to answer a few questions.For example, how much money should you have already saved up if you want to retire by age 65?JPMorgan Asset Management's 2015 "Guide to Retirement" has a handy retirement savings checkpoint guide to help you with that one.To get a crude idea of how much you should have saved, find the age nearest to your age and then go across to the column with the salary nearest to your current salary. Then multiply the number you land...
  • Sen. Mikulski said to be retiring from Senate [MD]

    03/02/2015 6:38:54 AM PST · by GIdget2004 · 38 replies
    Washington Post ^ | 03/02/2015 | Jenna Johnson
    Sen. Barbara Mikulski (D-Md.), who has served in Congress longer than any woman in history, will announce at a news conference Monday that she is retiring from the Senate after five terms in office, three people familiar with her plans said. Mikulski, 78, was the first woman to chair the powerful Appropriations Committe, a post she had to give up this year when the Democrats lost control of the Senate. A social worker turned politician, she has been a forceful presence on many pieces of legislation, passionately liberal on certain issues but also committed to working closely with Republicans.
  • White House looking to creep into 401(k)s

    03/01/2015 7:22:49 AM PST · by Enlightened1 · 39 replies
    NY Post ^ | 2/28/15 | Jonathon M. Trugman February 28, 2015 | 11:21pm
    Under the false pretense of calling for new and tougher so-called fiduciary standards for financial brokers, advisers and retirement plan representatives, the White House once again horned in on Wall Street’s compensation formulas. However, what the president surely knows is that a vast majority of retirement plans — IRAs and 401(k)s — are in simple fee-based products like mutual funds. The commission-based accounts are for those who prefer to direct their brokers in certain purchases inside some of their retirement products. The key to the White House’s interference is in its nuanced language. Currently, a broker may make a recommendation...
  • Early retirement getting more rare for Minnesota public employees

    03/01/2015 8:24:16 AM PST · by TurboZamboni · 23 replies
    Pioneer Press ^ | 3-1-15 | Maryjo Webster
    Marlene Nelson loved teaching, but after 35 years she was ready to retire the first chance she got. When she became eligible for her pension at age 55 because of an early-retirement incentive known as the Rule of 90, she and her husband sold their home in Glenwood, Minn., and moved someplace warm. "I really would've liked to have taught a little longer, but I just wanted to go out liking my job," Nelson said. She and her husband have spent the past four years living modestly off their two pensions in Arizona. This kind of Utopian early retirement is...
  • President Obama "Steps Up" Attack On Estate Planning Techniques

    02/28/2015 7:27:04 AM PST · by TurboZamboni · 21 replies
    Penton Business Media ^ | 2-2-15 | Eric Fischer
    On Feb. 2, 2015, on the heels of the State of the Union Address, the Obama Administration released its budget proposal for the 2016 fiscal year, accompanied by the Treasury Department's General Explanation of the Administration's Fiscal Year 2016 Revenue Proposals (colloquially known as the Greenbook).[1] Given the percentage of his previous proposals that have been passed and the newly-elected Republican majority in both houses of Congress, the vast majority of the proposals in the Greenbook are unlikely to become law during President Obama's last two years in office. However, they are worth noting, as they identify the focus points...
  • Only one-quarter of Americans plan to retire

    02/27/2015 1:43:11 PM PST · by Lorianne · 33 replies
    Market Watch ^ | 26 February 2015 | Quentin Fottrell
    Many Americans appear to be giving up on retirement. Just over one-quarter (26%) of Americans have a traditional notion of retirement in which they plan to stop working altogether when they reach retirement age, according to a new survey of 7,000 households — “Americans’ Financial Security: Perception and Reality” — released Thursday by The Pew Charitable Trusts. Asked about their retirement plans, 21% said they are never planning to retire, while 53% anticipate doing something else, including working at a different job. Roughly 10,000 baby boomers reach retirement every day, so it’s not unexpected that so many of them are...
  • Obama to Middle Class Retirees: If You Like Your Retirement, You Can Keep It

    02/24/2015 11:49:45 AM PST · by Kaslin · 35 replies
    Townhall.com ^ | February 24, 2015 | Michael Schaus
    Government’s involvement in healthcare has been such a rousing success, Obama is now thinking about getting more involved in regulating the retirement of Middle Class America. Hooray… Proposing new executive regulatory rules (because going through Congress is too cumbersome and democratic), the President has claimed that he is riding to the rescue of average American investors with the heavy hand of government oversight. According to theState.com:The proposed rule, which Obama can put in place without congressional approval, would impose a requirement on some financial advisers to act as what the law calls “fiduciaries” for their clients, meaning that when they recommend...
  • ‘Financial advice from that guy?’ Obama’s investment warning found bereft of self-awareness

    02/23/2015 12:48:41 PM PST · by E. Pluribus Unum · 13 replies
    Twitch.com ^ | 02/23/2015 | Twitchy Staff
    President Obama is delivering a speech about retirement investing today: Just terrific… But wait, it gets better!Obama’s speech included this warning: Ha! Sound familiar? Anyone? … Anyone? That’s it!But there’s more:
  • Your retirement savings: Obama proposal

    02/23/2015 9:43:22 AM PST · by Olog-hai · 43 replies
    Associated Press ^ | Feb 23, 2015 11:09 AM EST | Jim Kuhnhenn
    The Obama administration is proposing tougher restrictions on brokers who manage Americans’ retirement accounts, reigniting a confrontation with the financial services industry over rules affecting trillions of dollars in 401K and other savings accounts. The change would put brokers—who sell stocks, bonds, annuities and other investments—under the stricter requirements for registered financial advisers when they handle clients’ retirement accounts. In a long-anticipated move, the Labor Department is making the proposal Monday to the White House Budget Office. After an internal review, it likely will be put out for public comment for several months. Obama was scheduled to address the AARP...
  • How Do Real People Overcome Challenges to Save for Retirement?

    02/14/2015 7:34:46 AM PST · by Kaslin · 45 replies
    Townhall.com ^ | February 14, 2015 | Dave Ramsey
    We've heard a lot about how far behind Americans are in saving for retirement, but we don't often hear many solutions that the average family can actually afford. That's how we landed on a $300 a month figure. It's a challenging number, since few of us can find an extra $300 a month without some effort and sacrifice. But itÂ’s doable, and it's enough to make a real difference in your nest egg by retirement. 1. Deal With Realities, and Control Your EmotionsA lot of folks are debating whether or not they'll ever be able to squeeze anything out of...
  • Best retirement places?

    02/13/2015 8:22:22 PM PST · by TurboZamboni · 170 replies
    Myself ^ | 2-13-15 | TZ
    Looking for a place with moderate climate,stable government,low crime rate, predominantly English speaking and is not anti-gun .Where someone on a fixed lower income can afford to not have to live like a rat.
  • The Global Private Social Security Revolution

    02/08/2015 2:16:23 PM PST · by Kaslin · 13 replies
    Townhall.com ^ | February 8, 2015 | Daniel J. Mitchell
    Last month, I posted “the cartoon argument” for Social Security reform. My main goal, as an American, is to achieve this important reform in the United States. And I’ve tried to bolster the argument by citing lots of hard data, including the fact that “funded” accounts already exist in nations such as Australia, Chile, Sweden, and the Netherlands. In this spirit, I wrote an article for the most recent issue of Cayman Financial Review, and I looked at the issue from a global perspective. I first explained thatdemographics are destiny.
  • President Obama's 2016 budget targets retirement accounts

    02/06/2015 1:54:58 AM PST · by South40 · 13 replies
    MSN Money ^ | 5 FEB 2015 | Jeffrey Levine
    President Barack Obama's fiscal year 2016 budget was unveiled Monday to the American public, along with the Department of Treasury's Greenbook, which provides further explanation and details of the proposals in the president's budget. In truth, the president's budget is really more of a wish list than anything else, but it's a good indication of where the administration is headed. This year's version of the budget includes a number of provisions targeting retirement accounts. That's no surprise, as provisions aimed at retirement accounts have been a regular feature in budgets in recent years. What is a surprise, however, is how...
  • The Complex Maze of Obama's Tax Reform

    02/04/2015 5:29:01 AM PST · by Kaslin · 8 replies
    Townhall.com ^ | February 3, 2015 | John Ransom
    Obama wants to cap your retirement. Inside his new budget he is proposing to cap qualified retirement savings at $3 million. That's how much the White House figures it would take to generate $200,000 worth of income annually. However the problem with such an approach as investment news points out as that and in the historic low interest-rate environment it takes more money to produce $200,000 worth of income which is all you apparently need in retirement according to them—of course they’ll never live on such a pittance. It is unclear if the administration wishes to tie the size of...
  • Alex Jones to Retire

    02/02/2015 2:13:41 PM PST · by Arthur McGowan · 34 replies
    Alex Jones Channel ^ | 14 Jan 2015 | Alex Jones
    Alex Jones, the internationally known trailblazer of new media and icon of the burgeoning liberty movement, makes an unprecedented announcement in this exclusive video. He finally admits that he was the iconic comedian Bill Hicks, but reveals that this was only a character, along with the persona of Alex Jones, created by his true self David Mentalson III. The master orator and genius actor David Mentalson III is the real identity of the characters Alex Jones and Bill Hicks, and is stepping into the light to claim his position as the greatest actor in the world.
  • Another step down the long, slow road to IRA nationalization

    01/31/2015 6:43:09 AM PST · by SeekAndFind · 52 replies
    The Sovereign Man ^ | 01/31/2015 | Simon Black
    LetÂ’s take a brief walk into financial reality for a moment.At the time of this writing, the United States governmentÂ’s official debt is nearly $18.1 trillion.Now, letÂ’s look at who the biggest owners of that debt are:1) Taxpayers of the United States.If youÂ’ve held a job in the Land of the Free, 15.3% of your salary has gone to fund Social Security and Medicare.Each of these programs holds massive trust funds that are supposed to pay out beneficiaries, both present and future.Conveniently, the trust funds are required by law to buy US government debt.And given that every single US taxpayer...
  • Teacher Pensions Going To Kill Us All

    01/28/2015 5:49:29 PM PST · by Tolerance Sucks Rocks · 27 replies
    The Daily Caller ^ | January 27, 2015 | Blake Neff
    Teacher pensions are a huge and growing crisis waiting to explode without major reforms, warns a new report released Tuesday by an educational think tank.“Do the math on teacher pensions and it just doesn’t add up,” argues the National Council on Teacher Quality in its report, Doing the Math on Teacher Pensions. Total unfunded teacher pension liabilities in 2014 were a whopping $499 billion dollars, the group found. That amount is surging rapidly; in 2012, the total was just $394 billion, meaning that pension debt is growing by over $50 billion a year.Some states are in a particularly huge hole....
  • Dems push automatic IRA bill

    01/24/2015 9:57:28 AM PST · by Rusty0604 · 57 replies
    The Hill ^ | 01/22/2015 | Bernie Becker
    Congressional Democrats are pushing a new bill to make it easier for workers to sock money away in retirement accounts. Sen. Sheldon Whitehouse (D-R.I.) and Rep. Richard Neal (D-Mass.) said Thursday that they were introducing legislation that would set up automatic payroll deductions for contributions to Individual Retirement Accounts.
  • PERS points out weaknesses in Nevada think tank’s retirement study

    01/23/2015 7:27:54 AM PST · by redreno · 8 replies
    http://www.reviewjournal.com ^ | January 22, 2015 - 4:21pmUpdated | By SEAN WHALEY
    CARSON CITY — A retirement system official said Thursday a report showing that some public employees who retire collect more in pension benefits than they did while working was based on less than 2 percent of beneficiaries. The analysis also does not reflect changes to the retirement plan made in 1985 that reduced pension payouts, said Tina Leiss, executive officer of the system. The conclusions in the report issued by the Nevada Policy Research Institute, a conservative think tank based in Las Vegas, do not account for the vast majority of the members and retirees of the Public Employees’ Retirement...
  • Study: Many public-sector retirees making more than they did on job

    01/22/2015 7:37:08 AM PST · by redreno · 11 replies
    http://www.reviewjournal.com ^ | 01/22/2015 | By SEAN WHALEY
    CARSON CITY — Most people who make the decision to retire have to figure out how to live on fewer dollars, but that is not always the case with Nevada state and local government employees, a new analysis has found. The analysis by the conservative think tank Nevada Policy Research Institute, using newly available public data provided by the Public Employees Retirement System, shows that many public sector retirees actually receive a raise upon retirement. The analysis, which looked at 10 of Nevada’s largest government agencies, including the state of Nevada, Las Vegas, Clark County and the Clark County School...
  • America Will Miss Obama When He's Gone (LOL alert)

    01/16/2015 4:04:48 AM PST · by Zakeet · 67 replies
    The Atlantic ^ | January 15, 2015 | Dominic Tierney
    It’s 2018, and Barack Obama leans toward the computer in his Chicago townhouse and punches in the title of his memoir. He enjoys the silence and the solitude. It’s been over a decade since he had time to write. This is Obama’s third memoir and probably not the last. Aged only 57, his story is still in mid-stream. What next? Go back to teaching law? Charitable work? Whichever avenue he pursues, Obama can take encouragement from sky-high approval ratings. As soon as he departed the White House, Obama’s polling numbers started to pick up. Now, he’s one of the most...
  • New Fed report warns of 50% drop in value of stocks due to boomer liquidating equities.

    01/14/2015 3:37:45 PM PST · by MarchonDC09122009 · 45 replies
    Fed related publication warns of: http://www.frbsf.org/economic-research/publications/economic-letter/2014/december/baby-boomers-retirement-stocks-aging/
  • Illinois Introduces Automatic Retirement Savings Program, a First for the Nation

    01/05/2015 9:37:59 PM PST · by Citizen Zed · 33 replies
    ny times ^ | 1-5-2015 | JOSH BARRO
    Illinois is taking a novel approach to getting its residents to save for retirement. Starting in 2017, most state residents who don’t already have a retirement plan at work will be automatically enrolled in individual retirement accounts, funded through a 3 percent deduction from their paychecks. The program will be created under a law signed by Gov. Pat Quinn on Sunday. Participation will be voluntary, but workers who don’t want to save will need to opt out manually. (They will also be allowed to save more than 3 percent if they wish.) An estimate produced by the plan’s backers found...
  • US Sen. Jay Rockefeller heads into retirement

    01/04/2015 11:27:04 AM PST · by Olog-hai · 24 replies
    Associated Press ^ | Jan 3, 2015 4:55 PM EST | John Raby
    Sen. Jay Rockefeller and West Virginia were an odd mix at first—a Harvard-educated native New Yorker from one of the nation’s richest families arriving in one of the poorest states. Through a half century of public service, he made it work. And as he heads into retirement as the last member of the Rockefeller family dynasty in political office—and the only Democrat—the five-term U.S. senator leaves a blueprint for fighting to fix real-life problems for burdened families and to protect the nation’s coal miners. […] Rockefeller was the state’s junior senator for 25 years, yet carved his own path of...
  • Pulitzer Prize-winning reporter left impoverished [living on subsidized dime]

    01/01/2015 12:46:57 AM PST · by Cincinatus' Wife · 49 replies
    The Daily Mail ^ | December 31, 2014 | Ashley Collman
    In 1977, William McPherson earned the top honor in the writing world when he was honored with a Pulitzer Prize.But nearly four decades later, the former Washington Post critic now hovers on the brink of poverty thanks to a failing pension and a bit of bad luck on the stock market.In a heartbreaking essay for The Hedgehog Review, McPherson describes what it's like to become poor in old age-as part of a overlooked group who are neither middle or lower class.Former teachers and even lawyers who can't pay their bills but aren't on the streets begging for change.Surprisingly, he says...
  • Investing in the ObamaFund; Treasury rolls out a new savings plan without a Congressional vote.

    12/30/2014 3:32:07 AM PST · by Liz · 16 replies
    wsj.com ^ | 12/29/14
    EXCERPT—--the WH wants you to consider a retirement plan that will invest in nothing but US government debt. Any financial professional who advised this—would be sued for malpractice. But asset allocation is merely one of the problems with the new “myRA” fund rolling out this month. A form of Roth IRA that allows people to save after-tax dollars and watch them grow tax-free until retirement, the new myRA offers a single investment option. It’s a private version of the G Fund that is available to federal workers and has lately been delivering annual returns of about 2% on its portfolio...