The U.S. economy added 288,000 jobs in June, well ahead of most consensus estimates. Even better, employment gains in April and May were revised upward by about 29,000. The job gains were widespread across economic sectors, causing the overall unemployment rate to decline from 6.3% to 6.1% in June, a new post-recession low. Notwithstanding the…
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Simon Lack, author of The Hedge Fund Mirage, and previously a member of J. P. Morgan’s hedge fund due-diligence team in the early 1990s, argues that hedge funds are overpriced, non-transparent, and provide poor returns over time. During a talk at the CFA Institute’s annual conference in Seattle earlier this year he explained that hedge…
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IRAs are among the simplest and best ways to transfer wealth to heirs. In effect, you are not simply passing on a chunk of money, but rather a chunk of money with future tax-deferred or tax-free growth embedded. However, if you are the beneficiary of an IRA, it’s important that you take the right steps…
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A recent Lincoln Financial Group survey found that retirees significantly underestimate the impact taxes will have on them during their retirement years. When asked before they retired what they expected their top expenses to be in retirement, the majority of pre-retirees surveyed anticipated home and mortgage, health care, and travel/leisure costs to be the highest.…
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Aon Hewitt, the global benefits consulting firm, analyzed 14 defined contribution plans representing over 723,000 individual participants over the seven-year period from 2006 through 2012 to determine how participant behavior affected portfolio risk and returns. Their finding: those who sought help with their investments did significantly better than those who managed their portfolios on their…
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Bankrate.com recently announced the ten best states for retirement. The list, which includes such rugged spots as Colorado, Utah, North Dakota and Wyoming, was topped by, of all places, South Dakota. My question: is South Dakota the retirement paradise to which we should all aspire? Before any South Dakotans that happen to be reading this…
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