Rethinking the Shift-to-Bonds Strategy

Remember there used to be a simple rule for retirement savers: The percentage of bonds in your portfolio should match your age. The idea was that, as you aged, you should use bonds—which offer dependable payouts and rarely default—to shield more of your money from the wild swings of the stock market, even if that meant sacrificing potential investment gains. But today, in an era of ultralow interest rates and longer life spans, that one-size-fits-all approach won’t work for many ...

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Real Pension Reform Requires Voters to Change the State Constitution

A new Governor means new policies and fixing existing issues in Illinois. The appeal for fixing Illinois’ overwhelming $100 billion pension funding deficit awaits its fate at the state Supreme Court. A pension plan approved last year is in question, which is hoping to close the funding gap by making changes to public employee pension plans to include delaying the age of retirement, slowing cost-of-living increases, and capping pensionable salary.

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Retired Briarcliff schools chief gets $1,000 a day in Putnam Valley

The budgets of New York’s school districts continue to get pummeled by back room agreements that enhance administrator’s pensions and allow or unlimited double dipping. When veteran educator Frances Wills retired as Briarcliff Manor’s superintendent in 2010, she left with a $50,000 bonus, and the promise of retirement funded by pensions from her 16 years in New York and another 25 years in Maine.  Later to be enhanced by a $1,000 per day 3 year contract.   Click here ...

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Retirees keep one foot in workforce

Seniors today may well enjoy rounds of golf and water aerobics when they retire. But chances are, they fit it in when they’re off the clock.

Whether motivated by mental stimulation or cold, hard cash, millions of Americans age 65 and older are keeping one foot in the workforce long after they leave their full-time careers.

Among current seniors, more than 16 percent were still in the labor force in 2010, up from 12 percent in 1990, according to the U.S. Census ...

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Retirement is not for everyone

As a financial advisor who has worked with retirees for more than 20 years, I’ve come to learn one thing: Retirement is not for everyone. In fact, it’s not for a whole lot of us.

During the 1990s, with the stock market charging and everyday folks making millions from dot-coms, the conventional wisdom of the day was to retire as young as possible. There was a certain pride that went along with being young and retired, and people were cashing out ...

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Women face retirement-saving challenges

Saving enough for a secure retirement is a tough proposition for anyone, regardless of age or income. But if you happen to be born with a pair of X chromosomes, it’s that much harder still.

Indeed, women face a unique set of challenges when it comes to meeting their financial goals, including longer life expectancy, fewer years in the workforce and persistently smaller paychecks than men. Marital status and occupation aside, they are simply at greater risk of outliving their assets.

 

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