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PENSION CRISIS

~~The headline of the story in the February 22, 2014 Issue of the L A Times reads “Detroit releases bankruptcy plan.”  The article goes on to say that the plan hinges largely on “significant cuts to city workers’ pensions and retirees health benefits.”  In an interview with worker Donald Smith, 69, he says, “I already have to make choices between food and medicine.”

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THE MOST IMPORTANT RETIREMENT GOALS

I’ve had a couple of months where life has been a real emotional strain.  While that has been happening I also came upon a few “pearls of wisdom” and this all came together for me the other day when the emotional strain lifted for the better. My oldest son’s wife brought my first granddaughter into this world.  Then I found out one of my oldest and dearest friends had cancer and needed surgery.  Then my youngest son’s wife brought my second granddaughter into this world and she needed to spend 12 days in NICU!

MORE BAD NEWS FOR RETIREES

In the October 15th, 2013 edition of the Los Angeles Times there was a story titled “Most expect to work during retirement.”  That sure doesn’t sound like retirement.  Webster defines retirement as: “Withdrawal from occupation or from active working life.”  This story says that according to a survey by the Associated Press-NORC Center for Public Affairs Research 82% of those 50 and older expect to work in some form during retirement.  The story says that “workers are facing a dim financial prospect for what used to be the golden years.” It’s our opinion at Buckingham Inv

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