Risk management is regarded as an essential element of modern investment management. But few people recognize that retirement -- the period when a person stops working and begins to decumulate their assets -- has now become the riskiest stage of a person's entire financial life.
The scary thing about conflicted advice is that it's legal, friendly and presents itself as free. Follow three simple rules -- find a fiduciary, pay a fee and avoid rolling over funds to an IRA. Don't make one of the costliest investments mistakes: using a conflicted advisor.
Most of the coverage last week of the Fed study on household wealth focused on the gigantic financial hit taken by nearly all Americans since 2007. Dig deeper into the report, though, and it makes for even scarier reading.
Until the necessary procedures are designed, tested, and proven feasible , chained COLA will not be ready for prime time. Even then, it would reduce benefits and impose harm without adequate justification.
We can sit on our butts on Tuesday and whine about our lack of leadership, or we can assume leadership by putting the right people in office and then tell them what to do. It's now or just about never.