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Getting
to Grips with Pensions |
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Space flight is a
tricky business. To set a spacecraft down on the right spot,
millions of miles away from its launch pad, requires pinpoint
accuracy. When traveling across such vast distances, small
miscalculations at the beginning become huge errors by the end
of the journey. Something similar has happened to pensions.
Thirty or 40 years ago, no one accurately calculated the
pension requirements of all those baby boomers, many of whom
are now approaching their golden years. The result: the U.S.
Department of Labor estimates that corporate pension plans are
underfunded to the tune of some $450 billion. Last month, the
Federal Government introduced a course correction: the Pension
Protection Act, designed to shore up the pension system and
provide Americans with a little more security in retirement. Read
more about the Pension Protection Act.
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When
Willpower Won't |
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You’ve had a
rough day at work. You had to deal with the stress of an
irritable boss, unrealistic deadlines and irritating
colleagues. You had to get through an office birthday party
with your diet intact, heroically denying yourself a slice (or
two) of that double chocolate cheesecake. Throughout it all,
you remained admirably calm and imperturbable, a model of
self-control. Now, on your way home, you spot something in a
store window—maybe it’s a watch, a pair of shoes, or even
a slice of double chocolate cheesecake—and feel that
you’ve just got to have it. Surely, after a day like yours,
you deserve it. These are the ideal circumstances in which
impulse buying strikes. Read
the complete editorial
from best-selling author James Geary.
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Do
You Plan Your Shopping With a List? |
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Everyone knows
that reaching a big goal requires making a plan and mustering
the discipline to stick to the plan. But when it comes to
smaller goals, like having groceries for the week or a new
outfit for work, many people forget about planning and simply
run to the store. Let us know whether you plan your shopping
with a list or if you shop list-free.
Take
Our Survey
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Time
to Invest? |
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When you’ve
managed to save a bit of money, it’s only natural to think
about investing that money in something that will give you a
decent rate of return. After all, you want your money to work
just as hard for you as you have for it. But, before looking
at how the stock market is performing, it’s best to first
review your goals and determine how much time you need to
achieve them. Read
more.
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Recent
Financial Alerts |
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NASD has issued a
new consumer alert titled “Look Before You Leave: Don't Be
Misled By Early Retirement Investment Pitches That Promise Too
Much.” Early retirement is something many people dream of,
so people listen up when someone presents an investment idea
that promises to make that dream true. This alert highlights
some recent investment scams that have come to light through
recent NASD enforcement actions and offers tips to help you
identify fraudulent investment schemes.
The Federal Deposit Insurance Corporation (FDIC) and
National Association of Insurance Commissioners (NAIC) have
also issued consumer publications related to the financial
safety of students. FDIC’s publication offers money
management tips for teens, including advice on how teens can
guard themselves against identity theft. NAIC’s publications
provide an overview of the types of insurance coverage
appropriate for college students and why renters insurance is
a good option for college students living on their own.
Read
more about these and
other financial alerts.
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About
This eNewsletter |
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You
are receiving this e-mail because you subscribed to CFP Board's
eNewsletter. Periodically, CFP Board will e-mail you "It's Your
Turn," which includes information about financial planning,
consumer alerts, financial planning tools and resources and much
more. Suggestions and feedback are welcome at
mail@CFP-Board.org.
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