To study the Spanish retirement system, RIJ has temporarily relocated to Seville. We start with a look at the public pension system (a contributory, pay-as-you-go system like Social Security in the US).
'Expansions don’t last forever. A storm will surely come, and when it does, we will be poorly prepared for the deluge," writes the author and macroeconomist at the University of California-Berkeley.
The average balance for all IRAs grew by about 50% during the 2010-2015 time frame, to about $146,000. People 70 years old and older had the highest average ($229,000) and median ($81,000) balances.
In a recent article, Morningstar's Canadian research director shows, mathematically, how one might use term life insurance and income annuities (in sequence) to cope with one of life's known unknowns: the date of our own death.
At purchase, Security Benefit assigns an interest rate to the contract and guarantees that rate for five years. The contract owner receives that rate plus a floating rate, the 3-month ICE LIBOR USD Rate, which has historically closely tracked the Federal Funds Rate.
'Anything can make or break a market,' Tighe explained in his delicate brogue, 'from the failure of a bank to the rumor that your second cousin's grandmother has a cold. It's a most unusual world, Cowperwood. No man can explain it. I've seen breaks in stocks that you could never explain at all--no one could... My God, the rumors of the stock exchange! They beat the devil.' -- from The Financier, by Theodore Dreiser.