Retirement Income and Systematic Withdrawals

Retirement Income and Systematic Withdrawals

*+-There’s no shortage of articles about the process of accumulating wealth. We spend our working years deferring part of our incomes into retirement plans and establishing various investment strategies to grow and protect our assets. However, there’s less discussion about the process of distributing our money back out to ourselves in the most effective way… Read More


Is the Fed Really “Stealing from Savers”?

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Geoff Considine

*+-In a recent article on MarketWatch, Chris Martenson asserts that the Fed’s low interest rate policy and quantitative easing in recent years is deliberately stealing from savers. This article has elicited a big response, with almost 800 comments and almost 2000 likes on Facebook. The key point of the article is that the Fed’s policy… Read More


REITs and the Rally of 2014

Geoff Considine

*+-There have been a number of surprises for investors in 2014.  Bonds have markedly out-performed stocks for the year-to-date.  The S&P500 is up 2.4% since the start of 2014, as compared to the Barclays Aggregate Bond Index, which is up by 3.5%.  Even more striking, the iShares 20+ Year Treasury Bond ETF (TLT) is up… Read More


Low Interest Rates Through 2014 and Beyond

Geoff Considine

*+-Ben Bernanke, in a speech on November 19th, made it very clear that the Fed is likely to hold interest rates low for an extended period of time.  This comes on the heels of similar comments by his likely successor at the Fed, Janet Yellen, during her confirmation hearings.  On top of this, inflation numbers… Read More


Sector Watch: Municipal Bonds

Geoff Considine

*+-Municipal bonds are issued by states and municipalities and typically have tax advantages relative to other fixed income assets.  In general, income from muni bonds is tax exempt at the federal level and at the state level for investors living in the issuing state.  Municipal bonds have historically been favored by investors in high tax… Read More


The Challenge of Long-Term Income: Part II

Geoff Considine

*+-In Part I of this article, I explained why I have issues with the traditional idea that individuals should provide for their required level of retirement income (beyond what is provided by Social Security and any pensions) entirely with assets with zero risk of loss of principal (e.g. Treasury bonds).  In Part II, I discuss… Read More


The Challenge of Long-Term Income: Part I

Geoff Considine

*+-Portfolio Income: The Trouble With Treasury Bonds The current economic environment is making it very hard for investors to generate reasonable levels of income through traditional means such as bond ladders.  While it is always dangerous to suggest that ‘it’s different this time,’ I believe that we are facing some unprecedented conditions that require new… Read More


Sell in May? 9 Trillion Reasons to Say “No”

David R. Kotok

*+-The old adage “Sell in May and go away” was good guidance for stock markets last year.  The market peaked on April 29 and bottomed out on October 3.  For a detailed discussion of this period and the subsequent bull-market recovery, see our new book From Bear to Bull with ETFs.  The eBook (ten bucks)… Read More