Among all the investment products designed to help you manage your savings throughout your retirement, a single premium immediate annuity (SPIA) is unique. For a given upfront investment amount it offers retirees a guaranteed lifetime stream of payments no matter how long they live. (The italics serve to point out that the promised payments could…
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As reported in CIO magazine, the California Public Employees’ Retirement System (CalPERS) terminated 14 out of 17 of its outside equity managers late last year and cut the allocation to outside management from over $33.6 billion to less than $6 billion. That represents a total of $181 billion in equity that will be managed in-house.…
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It’s January and my email inbox is once again flooded with capital market predictions for 2020. Looking back at the “expert” predictions for 2019 made last January, the majority as usual turned out to be wrong. Rather than sharing those predictions that were most egregious (which would be more fun than educational), I thought this…
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As a result of last week’s assassination of an Iranian general by the U.S. military, investors are understandably worried about the impact that a potential war with Iran could have on the stock market. One might assume that the uncertainty associated with war and its potential negative outcomes could have a devastating effect on stock…
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That’s what Fidelity Investments is implying in their recently-released Q3 2019 Retirement Analysis. They reported that almost 40% of 401(k) plans owned by workers born between 1946 and 1964 maintain an allocation to stocks that is higher than Fidelity’s recommended allocation for investors in those age groups. And almost one in twelve have all their…
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Last week the Securities and Exchange Commission (SEC) relaxed the requirement for Exchange Traded Fund (ETF) providers to disclose on a daily basis the underlying holdings in their funds. This change was requested primarily by fund companies T. Rowe Price, Natixis, Fidelity, and Blue Tractor, who would like to develop ETFs that follow what are…
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