Social Security Will Go Broke in 21 years
Source: Wall Street Journal 4/24/12 Reported yesterday that earlier estimates were 24 years, but now 21 years. If reserves for disability benefits were combined with retirement, reserves would be exhausted by 2033. Social Security and Medicare account for 1/3 of the federal budget. If the trust funds are not replenished, then benefits would be reduced by 25%. Everyone should… Read More »
Delaying Social Security Retirement Income
Interesting article in the Wall Street Journal comparing delaying taking early retirement income benefits (age 62) to Full Retirement Age (FRA) or age 70. Several articles recently have covered this topic from the perspective of the benefits delay in the first stage increases them about 6% and then 8% for the second delay (from FRA… Read More »
The History of Retirement, From Early Man to A.A.R.P.
Great Article I stumbled upon about the History of Retirement from the New York Times. Excerpts: IN THE BEGINNING In the beginning, there was no retirement. There were no old people. In the Stone Age, everyone was fully employed until age 20, by which time nearly everyone was dead, usually of unnatural causes. Any early… Read More »
Ohio Unemployment Compensation New Guideline
The Ohio Department of Jobs and Family Services (ODJFS) is notifying current and past recipients of unemployment compensation, the regular requirement to apply for 2 jobs per week is staying the same, except that recipients of unemployment compensation must keep a written record of actions taken including employer’s name and address, method of applying for work, type… Read More »
Austerity- Rarely Used, but Great Word
Merriam-Webster named Austerity as the word of the year in 2010, but these days it isn’t a word we use often. Dictionary.com defines it as 1. austere quality; severity of manner, life, etc.; sternness. 2. Usually, austerities. ascetic practices: austerities of monastery life. 3. strict economy. I like the definition of Financial Austerity from Wikipedia: is a… Read More »
Money Key to Escaping Abuse
Very interesting article in the Columbus Dispatch about domestic violence shelters providing financial counsel and education as part of the process to help those trapped in abusive relationships, where often money is used to trap them.
Benchmarking Asset Allocation Investment Performance Results Using Indices
My article entitled The Asset Allocation Style of Investing, highlighted this method of investing made popular from the study by Garry P. Brinson, Brian D. Singer, and Gilbert L. Beebower that found that over 91% of long-term portfolio performance is derived from the decisions made regarding asset allocation, and not market timing or security selection…. Read More »
The Asset Allocation Style of Investing
There are four ways to invest money, and the most boring way works best for most people: Asset Allocation. The other three ways to invest: strategic asset allocation, market timing or picking stocks are more sexy. Next time investing comes up at a cocktail party you will be sure to hear someone touting their get… Read More »
How to Break the Pay-Day Loan Trap
A lot of people are stuck in a cycle of using Pay-Day and Checking Cashing stores, and they don’t know how to get out of them. First let’s understand how they work to both help people then trap them in an ever ending cycle of debt and pain. Loan is given, equal to one or… Read More »
Diamonds the New Gold?
There is a commercial running now advertising investing in diamonds instead of gold, touting “diamonds the new gold.” Many people have lost interest investing in gold, since the price has dropped to around $1,600 per ounce from a high of a $1,895 in September of 2011. Unlike gold, for the average consumer there isn’t a… Read More »
