Man Bites Vanguard
A whistleblower's suit accusing Vanguard of transfer pricing and tax evasion reminded me of the time I asked, 'What does Vanguard do with its own money?'
The Decumulation Beat
My Dad’s Reverse Mortgage, Part II
I was staring into the smirking face of Moral Hazard itself. The stain of it was smeared on me too, because I was wishfully thinking that the condo might...
Zombie Politics
America is paralyzed by short-sighted, long-lasting tax and entitlement policies that deceased politicians locked us into. In his new book, "Dead Men Ruling," economist Eugene Steuerle of the Urban...
Conning appraises the invasion of the life insurance company snatchers
Their generally shorter bond maturities could give firms like Guggenheim, Athene, Apollo and Global Atlantic an edge over traditional life insurers if and when interest rates begin to rise,...
Of Ponies, Manure Piles, and Annuities
An article about deferred income annuities in last Saturday's New York Times looked at DIAs through the "investment frame" rather than the "insurance frame." That's the wrong way to...
The Fiduciary Rule: Going, Going…
The longer the DoL takes to draft a new version of its proposed fiduciary rule, the likelier it is that the re-proposal—if one ever appears at all—will be timid...
The One True Path to Income
As we curse the low payouts of income products, it’s worth remembering that the fault isn’t entirely in our stars (low interest rates), but also in ourselves (insufficient savings)....
Waiting for the Fiduciary Train
Don't hold your breath waiting for the second draft of the Department of Labor's fiduciary proposal. That's one takeaway from a four-hour meeting at the Practicing Law Institute in...
Happy Fifth Anniversary, RIJ
Today’s issue of RIJ, which represents our 250th issue and marks our five-year anniversary as a publication, seems like an appropriate vehicle for a brief message about how we’re...
