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Bad News for Boomers
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Portfolio manager Robert Arnett, who manages two of PIMCO's funds, has some alarming things to say about the environment retirees face in the future. In ten years for every working age person added to the workforce there will be 10 new retirees, the complete reverse of what it was ten years ago when there were 10 new working age persons for every new retiree. The impact of this will take the shape of many more retirees selling stocks and bonds to live on and fewer buyers for the bonds and securities, lowering the prospects for higher prices for bonds and securities. He expects the demand for goods and services to continue with higher prices. He sees stocks giving a nominal return of about 5%, bonds a nominal return of 2-4%, for a balanced portfolio yield of about 4%, during the next 10-20 years. After inflation and taxes the returns will be very thin. Expectations of 10% returns do not take into account deficits, debt, and demography in developed countries, says Arnott.
Pimco investment manager Robert Arnett on the U.S. investment environment in 2022 with 10 new retirees added for every new worker
03/05/2012
Arnett on how demographics will lead to lower returns in the future.
Grouped Articles
Wall Street Journal 03/05/2012
Savings habits of younger Americans after the economic crisis of 2008-2009
02/05/2008
For many the experiences of parents postponing retirement because of low savings, or facing unemployment and foreclosure, are leading to debt reduction and lower credit card use. Younger workers in the U.S. in 2012-2013 are also contributing more to 401 (K) plans. Vanguard says the median annual contribution to 401 (K) and retirement savings accounts is 9%, including a 3% employer contribution. Vanguard says this is too low and is recommending Americans contribute annually 12-15%.
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A compilation of advice on investing from 22 famous investors
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From professors and judges to hedge fund managers and finance experts, 22 famous investors give their advice on investing in a year end 2013 compilation by columnists and reporters of the WSJ. A recurring theme is long term investing over decades, and investing in the stock market for long periods in broadly diversified funds.
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The Best Financial Advice I Ever Got (or Gave)
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Vanguard Group says the current median contributions to 401 (K) and savings accounts in 9%, including an employer contribution of 3%. This is too low and Vanguard is recommending a 12-15% annual contribution.
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What senior executives of financial firms are doing with their own investments and what their firms are telling the public
08/23/2011
For senior executives interviewed in this survey investing is all about capital preservation. One executive has moved all his funds to U.S. government bonds and cash, another executive has given up the 60% stock 40% bond allocation recommended by financial firm advisors and moved his savings to cash and high investment grade bonds. These executives witnessed the 2008 crash and are not taking any chances. Financial advisors of these firms continue to tell the public to stay in it for the long term. Who bears the greater risk if things go wrong? The middle aged investor risks losing the bulk of his 401 (K) as he nears retirement. Investor portfolios of the middle class in America risk further losses after losses in the 2008 crisis.
Grouped Articles
How Wall Street Invests Its Money in Hard Times
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The future for Americans facing retirement in 2013 and beyond
05/27/2010
A U.S. Senate report shows a huge $6.6 trillion deficit in retirement savings in 2013, which comes to about $57,000 per American household. Only a small part of the population benefits from the gains on the stock market- most have suffered from the losses suffered following the 2008 financial crisis, depletion in savings from periods of unemployment, lower paying jobs, little or no interest on savings accounts, and additional stress from rising student debt and medical costs.
Grouped Articles
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Wall Street Journal 03/05/2012
Dismal Science Takes Dim View of Dow 'Record'
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How U.S. states overstate the extent to which pensions are funded.
10/16/2010
Using a discount rate of 4% (for government borrowing costs) would correctly show the extent to which pensions are funded in Illinois, than the rate currently used rate of 8%. Using Illinois methods Dutch plans would be 200% funded says an expert in Holland. With lower savings of American workers as they approach retirement adequately funded pension systems are critical to the safety net.
Grouped Articles
Pension Pinch Busts City Budgets
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Wall Street Journal 03/05/2012
Chicago Mayor Seeks Alterations to Repair Badly Underfunded Pension Plan
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Retirees, seniors and small investors in America
05/27/2010
The crisis for U.S. retirees, seniors, and small investors in a low interest and highly volatile investing environment.
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Stockbrokers Fail to Disclose Red Flags
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Aging, Retirement and 401(K)'s in America- 2010-2016
03/30/2010
The situation confronting the baby boom generation as it retires in the U.S. The stock market boom-bust cycles of 2000-2002 and 2006-2008 have hurt the 401(K) retirement accounts of most Americans. High unemployment and the housing crisis with many home owners under water has only worsened the situation. The difficult situation for seniors earning little interest on their savings. The problem of outliving ones savings for seniors with their money invested in bonds in a low interest rate environment. The median savings of Americans of close to $10,000 with only 10% of Americans having saved about $1 million by age 65. Longevity today means Americans are likely to live to age 85.
Grouped Articles
Big 401(k) Mistakes … and How You Can Avoid Them
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Wall Street Journal 03/30/2010
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BusinessWeek 05/27/2010
An About-Face for the Stock Market’s 5-Year Return
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Questions America asks it financial leaders in the light of the cratering going on in the world of finance and ordinary American's retirement savings.
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As a large part of 401 K's disappear and retirement savings are hurt badly Americans are asking questions of public servants and leaders in finance.
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Chuck Schwab Is Worried About Small Investors. Should We Worry Too?
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Paulson’s Deal-Making Revives Treasury’s Relevance
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Paulson Drove Plan to Shore Up Fannie Mae, Freddie Mac
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Taking Hard New Look at a Greenspan Legacy
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The Guys From ‘Government Sachs’
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No More Economic False Choices
New York Times 11/03/2008
Saving for Retirement in the U.S.
03/30/2010
The difficult situation of seniors earning little interest on their savings.
Grouped Articles
Why Many Retirees Could Outlive a $1 Million Nest Egg
New York Times 06/08/2013
Suddenly, Retiree Nest Eggs Look More Fragile
New York Times 06/15/2013
Low Interest Rates Are Squeezing Seniors
Wall Street Journal 03/30/2010
Chuck Schwab Is Worried About Small Investors. Should We Worry Too?
BusinessWeek 05/27/2010
The Case for Dividend Funds in Retirement
Wall Street Journal 04/15/2014
The Five Big Lies of Retirement Planning
Unknown 04/17/2014
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