| Pension plan ready for Street foray
NEW DELHI: The Union Cabinet will soon take up the investment pattern for the new pension scheme (NPS). The Cabinet's approval of the investment pattern would allow the Pension Fund Regulatory & Development Authority (PFRDA) to appoint fund managers to run the NPS. "We have already submitted a Cabinet note in this regard (investment pattern of funds under NPS), which could be taken up any time," department of economic affairs joint secretary KP Krishnan said. Mr Krishnan said after the Cabinet's approval, PFRDA would be able to appoint fund managers to run the pension scheme for government employees whose funds are currently parked in public accounts that yield 8% annual rate of interest. So far, 19 state governments have agreed to give their employees an option to park 5% of their pension funds in the equity market under NPS.
How Economic Security Changes during Retirement
80. More than two-fifths of retirees will have significantly less income at age 80 than they did at age 67, with the median decline in income being $16,000 for current retirees and $23,000 for boomers. Some older adults, however, will be better off later in retirement. Approximately two-fifths of retirees will have significantly more income at age 80 than they did at age 67, with th dian increase in income being $14,000 for current retirees and $17,000 for boomers. At least some of the change in economic well-being during retirement is related to arital status, health status, living arrangements, and work status. Older adults who ar rried or working at 67 are most likely to experience declines in income between ages 67 and 80 because they have a high probability of becoming widowed or retiring from the labor force.
Barrett, city try to hammer out deal on auction
Issues of parking, traffic and the lack of a permanent building on the side have so far proved insurmountable. Amid the ongoing negotiations, Barrett-Jackson has reported an 8.6 percent decline in sales at its car auction in Palm Beach, Fla., earlier this month. The five-day auction attracted 65,000 people and generated $32 million in sales, including fees, for nearly 600 cars. That is down from $35 million last year. Rose, the auction company spokesman, said the dip in sales "had to do with the inventory (of cars) at Palm Beach" which did not include any million-dollar-plus cars. "The market is still strong and resilient," he said of collector cars. Barrett-Jackson's Palm Beach auction, in its fifth year, is smaller than the Scottsdale collector-car event held here since 1971. The January auction at WestWorld generated $112 million in sales, including fees, for 1,271 cars.
Personal Journal Update
Recently, I was telling a friend about how we're remodeling the master bathroom in our house. Her reaction: "Wow. You don't see that in Baton Rouge." She meant that as a compliment (I think). But she also, unintentionally, raised a whole different issue. The truth is that while my wife, Amy, and I love the remodeling, it does reflect what some in this area might consider an unusual style. It's the kind of style that makes people say, "Wow. You don't see that in Baton Rouge." For a few weeks now I've been thinking about that comment and the underlying ... .
Are You Too Old for Stocks?
As you get older, it seems that no one wants you to have any fun. You have to be more careful about your health. When you exercise, you're supposed to make sure your heart rate doesn't get too high. Some folks even want to take away your driver's license once you get to a certain age. With investing, seniors face the same challenge. After a lifetime of investing experience, and after you've gotten familiar with dozens of companies that have served you well, you may well hear financial planners telling you that you should bid farewell to those trusty stocks. They argue that the risk of holding those stocks is too great now that you're older. One size fits all?Sure, there's something to that logic. After all, when you're young, you have decades before you'll need the money you set aside for retirement.
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