At the IRI annual conference in this quaint colonial village, the annuity industry shared a sense that, after several hellish years, the worst may be over.
New York Life and Fidelity have introduced a variable annuity with principal-protection over 10 years. Similar protection could be obtained with an indexed annuity or with a combination of a fixed rate annuity and an S&P500 index fund.
“Remaking Retirement? Debt in an Aging Economy," was the theme of the 65th annual symposium of the Wharton School's Pension Research Council, held last week in Philadelphia. (Photo: Kitchen and retirement makeovers sometimes occur in tandem.)
The educational comic book from the New York Fed means well but perpetuates the myth that money was created in the private sector to facilitate barter and enabled commerce to flourish. History shows otherwise.
The Fed's assumption that the so-called “wealth effect”—when asset appreciation spurs real economic activity—will hasten a true post-crisis recovery isn't producing the desired results, writes the former Morgan Stanley chief economist.
Heterodox economics, though valid and perhaps even more intellectually honest than orthodox economics, has lost its political battles, and that has made all the difference.
The net worth of households and nonprofits rose $1.4 trillion to $81.5 trillion during the second quarter of 2014. The value of directly and indirectly held corporate equities increased $1.0 trillion and the value of real estate expanded $230 billion.