Detroit has recently joined Stockton and San Bernardino in filing for bankruptcy. It’s the largest city in the U.S. ever to go this route. How Detroit resolves its inability to pay in full the promises it has made to creditors and retirees will affect municipal bond holders, the insurers that guarantee such bonds, state and…
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It seems there’s been a lot of news recently around annuities. The latest is a working paper published by Felix Reichling of the Congressional Budget Office and Kent Smetters of the University of Pennsylvania’s Wharton School. It concludes that most people should not buy annuities. This is a controversial finding that is bound to spark…
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I wrote a blog not too long ago about how much we need to be saving for retirement. It turns out that small business owners are among those most at risk. A recent AP report posted by MarketWatch shared the stories of a number of business owners who simply ignored their own future and focused…
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Annuities can be a very valuable part of an investment portfolio. Unlike stocks & bonds, they provide guaranteed income for as long as you live (at least to the extent supported by your state’s Life & Health Insurance Guarantee Association). But getting help on what kind of annuity to buy (let alone which one specifically)…
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New college graduates these days face the same financial challenges that young workers have faced for the last several generations. As they enter the workforce there’s the cost of an apartment, perhaps a used car if public transportation is lacking, and of course their personal preferences for entertainment. At some point during their evolution they…
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One of the problems many employees have faced over the last decade is the rapid disappearance of the traditional company pension plan – also known as a defined benefit (DB) plan – in favor of defined contribution (DC) plans. With DB plans, the investment risk is completely borne by the company, while the opposite is…
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