Before Mitt Romney retired from Bain Capital, the enormously profitable investment firm he founded, he made sure to lock in his gains, both realized and expected, for years to come.

He did so, in part, the way millions of other Americans do with the tax benefits of an individual retirement account. But he was able to turbocharge the impact of those advantages and other tax breaks in his severance package from Bain in a way that few but the countrys super-rich can ever hope to do.

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Mitt Romney exited Bain Capital with rare tax benefits in retirement

(MoneyWatch) If you're a boomer approaching retirement who's been keeping abreast of retirement planning issues, you're probably already aware of several common retirement planning mistakes that many people make, such as starting Social Security too early, drawing down your retirement savings too rapidly, or panicking and selling your stock investments when the market tanks. If these sound familiar to you, pat yourself on the back since you've been keeping an eye on your retirement money ball.

But planning for a retirement and rest of life that could easily last 20 years or more is an ambitious undertaking, and you'll need to keep your eye on many different balls, not just the money ball. So let's take a look at some common retirement planning mistakes that don't directly involve your money.

Mistake #1: Maintaining the status quo at work Many boomers are beginning to accept that they'll need to postpone their retirement because they don't have sufficient financial resources available to fully retire in their early to mid 60s. And most likely they're right: The majority of boomers don't have sufficient 401(k) balances or pension income to retire any time soon.

But that doesn't mean that you should simply suck it up and continue slogging away at the same old job for a few more years. One of the biggest threats to retirement for people currently in their 50s and 60s is the loss of their job. As a result, you should be doing everything in your power to secure that stream of wage income for many more years to come. Moves you can make include:

- Taking on new responsibilities - Learning new skills - Signing up for new training courses - Obtaining new credentials or updating your current credentials, and/or - Nurturing your network of both internal and external business contacts.

And don't overlook other actions you can take that can make your job and your life more enjoyable, thereby postponing boredom or frustration that can diminish your job performance. This can include:

- Easing your commute by moving closer to work, taking public transportation, or car-pooling - Taking all your vacation time (and maybe a little more), either all at once or little by little so you can enjoy time off from your job, or - Pursuing activities and hobbies you've always wanted to do in your spare time.

Another strategy to consider is working part time while you delay full retirement. It may be that all you need to do is to work enough to cover your living expenses, thereby allowing the continued growth of all your other retirement resources, such as Social Security, retirement savings, and a pension if you have one. By working just part time, you'll still have more time for yourself -- compared with working 40-plus hours per week -- so you'll be able to realize some of the advantages of being retired. Some advisors call this "practice retirement," and it's an idea that deserves your consideration.

Mistake #2: Complacency with living expenses According to a recent survey by the Society of Actuaries, reducing your living expenses is the number-one financial coping strategy named by retirees, yet many people wait until their backs are to the wall before taking a hard look at their living expenses. Instead of waiting until you have no choice, now is the time to consider downsizing your home, managing with just one car, doing all you can to cut back on your monthly utility bills, and postponing major, discretionary purchases, like a new flat screen TV.

Now is also the time to consider whether you should move to a less expensive area of the country or share housing to dramatically cut your living expenses. Now is also the time to consider what is "just enough" to meet your needs and make you happy.

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4 retirement planning mistakes you may be making

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The veteran rap stars still proved to have the chemistry that brought them together in the '80s as they performed "Do You Really Want Me?" "Shake Your Thing," "I Take Your Man" and "My Mic Sounds Nice."

Two male backup dancers in white T-shirts, New York Yankee baseball caps and blue jeans danced along with the duo, adding to the energy of their set.

During their show, Salt-n-Pepa did a call and response, "complete the lyrics" quiz with the crowd. "Hotel, motel..." Salt said to the audience as they rapped along effortlessly from Sugarhill Gang's "Rapper's Delight."

Pepa added a little shock value when it was her turn to give a song, rapping "Hip Hop Hooray." She was then interrupted by Salt, who stated, "You know your baby daddy was just on stage. He already did that one."

"Oh that's right," said Pep.

The fun continued with "Let's Talk About Sex" and "What a Man," which Salt brought her husband of 21 years out to serenade and rap to during the song.

Now it was Pepa's time to let Salt offer some interesting banter. "That's very nice, but see I ain't married," Salt said. "I got a baby daddy. I'ma keep it 100, I gotta a couple of baby daddies. So I'm looking for a good man to come up on the stage right now."

Two willing men answered the call and got on stage and sandwiched Pep as she and Salt finished the rest of the song.

The iconic duo closed out their show with "Push It" while ladies and men alike in the crowd danced and sung along to the 1987 classic.

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Salt-n-Pepa, Rock the Bells 2012: Duo Talk Baby Daddies, Get Personal With Fans

(AP) BERLIN - Jailed Pussy Riot member Nadezhda Tolokonnikova says she regrets nothing about the band's anti-government performance in a cathedral that got them convicted of hooliganism and sentenced to two years behind bars.

Tolokonnikova told Germany's Der Spiegel magazine in an interview released Sunday that her conviction with her two band mates were Russian President Vladimir "Putin's personal revenge" which served to put a global spotlight on his government.

She said, "I think the bottom line is that the trial against us was important because it showed the true face of Putin's system."

Der Spiegel said the performer's answers to the magazine's questions were provided through her lawyer, who is allowed to visit her in prison.

She says Pussy Riot's goal remains "a revolution in Russia."

Russia: Double-murderer demands release of jailed members of Pussy Riot 2 members of Russian punk band flee country Russian Orthodox clerics forgive punk band for anti-Putin rant, call for mercy

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Jailed Russian punk rocker: No regrets

"I'd done my best and I know I couldn't have done any more than that."

Baker, who contracted traverse myelitis, an inflammation of the spine that affects nerve endings, when she was 14 months old, was riding horses before she could walk, tucked into a basket saddle on her mother's pony.

She was encouraged to continue riding in order to relieve the constant pain in her back and at the age of ten, declared that she wanted to go to the Paralympics and win a gold medal after watching her teammate Lee Pearson compete in Sydney.

Asked if she had a message for any ten-year-olds who might have been inspired by her success this week, she said: "Go for it, just do it. Follow your heart and follow your dreams and don't let anything hold you back."

Baker, from Uxbridge, Middlesex, claimed that she and Cabral, her Polish-bred horse who is nicknamed JP after the late Pope John-Paul II, had been so far behind the music that she had to "completely improvise".

She clearly did an excellent job because no one, not least the judges, appeared to notice as she glided across the arena with the 11-year-old Gelding, controlling him with her voice and upper body movements.

As Baker completed her event, the crowd, who had been warned not to cheer or clap the competitors to avoid scaring the horses and causing a fall, were initially unsure how to react and just a faint ripple of applause rang out.

But realising she had done well, Baker threw her arms in the air, indicating to them to make some noise. No one needed to be told twice and the arena was soon filled with deafening cheers.

"I'm never going to get that again," she said. "I'm never going to get that with JP again so why not make the most of it?"

Baker's mother Lorraine, who now coaches her daughter, was in the arena to witness her come full circle and achieve her dreams.

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Natasha Baker attributes Paralympic success to Mcdonald's

EAST PROVIDENCE, R.I.Anthony Gemma made his fortune at the helm of his family's plumbing business, but he's making his name in Rhode Island by waging what sometimes seems to be a one-man mission to take down U.S. Rep. David Cicilline.

Gemma, 42, is making his second run for Congress against the one-term Cicilline, a fellow Democrat he's been accusing since 2010 of being "unfit to serve" in Congress. They face each other in the Sept. 11 primary.

Gemma (pronounced JEM'-uh) has rarely let up on his scathing criticism of the former Providence mayor since he came in a distant second to Cicilline in a four-way primary in 2010. In recent weeks, and offering no hard evidence, he acknowledged spending $40,000 on a private investigation into Cicilline and accused him of orchestrating massive voter fraud going back to 2002, including paying people to vote, paying campaign workers under the table and other misdeeds. Cicilline has disputed all of it, saying Gemma is waging a smear campaign.

The accusations have overshadowed Gemma's personal story of success in businesses and service to the community with a cancer charity he started.

Cicilline has a huge cash edge over Gemma, who is largely self-funding his campaign. Cicilline had $483,000 cash on hand to Gemma's $25,000, as of Aug. 22, although Gemma has since given himself $150,000, according to filings with the Federal Election Commission. The winner will face Republican Brendan Doherty, former head of the state police, on Nov. 6.

Gemma grew up poor, the youngest of nine children. His family lived four or five children to a bedroom, he told an audience at a senior housing complex in East Providence last month. He was 10 when he began to learn plumbing at his father's knee.

"I understand how hard it is to earn a dollar," he told the crowd, which nodded in agreement.

Gemma worked his way through college at Suffolk University, where he graduated cum laude, and then went to Roger Williams Law School. He returned to the family business in 1999 and built Gem Plumbing & Heating into the most well-recognized plumbing company in the state.

One trick to getting there was its phone number: 867-5309. Familiar from the 1982 Tommy Tutone hit "867-5309/Jenny," the number has helped business because potential customers didn't have to search for a number when looking for a plumber, Gemma has said. The company trademarked the number in 2005.

Gemma was president and CEO of Gem until 2009, when he launched a marketing firm.

Excerpt from:
Gemma tries to turn business success into votes

The Winter Haven Young Professionals Group offers networking activities for people age 21 to 40. "Some of what we do is social; some is personal development. Lots of times we try to link those together," said Clay McKown, the group's chairman.

LAKELAND | If you're a young professional in Polk County, there's an easy way to learn about the community and meet others like you.

Lakeland, Winter Haven and Bartow all have groups designed for professionals in their 20s, 30s or early 40s. Affiliated with local Chambers of Commerce, the organizations offer social gatherings, personal and professional development activities and opportunities for volunteer work.

In Lakeland, there's EMERGE (emergelakeland.com), a group with nearly 200 members open to young professionals age 21 to 42. EMERGE Lakeland holds monthly events open to members and nonmembers alike. Membership is $50 annually.

Recent activities have included a presentation on business etiquette, a field day with mentors and youths from the Big Brothers Big Sisters organization, and a "casino night" membership drive. You'll regularly catch EMERGE members downtown during the monthly First Friday event.

"I moved to Lakeland three years ago and got signed up with EMERGE through work. All of a sudden I got to meet all of these other young professionals in town that grew up here or are new to town," said Jorge Rivera, 32, a senior accountant with CPS Investment Advisors, who also serves as EMERGE's treasurer and membership committee chairman.

"I've built up a big base now of all of these people I consider friends that are like-minded and involved in the community," Rivera said. "Some of them are really inspiring."

EMERGE will hold a gathering with Congressman Dennis Ross on Sept. 24 to get an inside look at the campaign process. October will bring "A Round of Shots For Breakfast," a morning event held at the Shoot Straight gun range.

In East Polk, the Winter Haven Young Professionals Group (whypg.camp7.org) is open to those age 21 to 40 in the greater Winter Haven area. Membership is $60 annually.

Clay McKown, 26, is the current WHYPG chairman and a member of three years. He describes the group as a "springboard to meet other young professionals and build a network with your peers and also learn about your community."

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Three Polk Groups Offer Networking for Young Professionals

Sep 3, 2012 - 11:00

Image Caption: A woman selling vegetables at the market at Fada N'Gourma, Burkina Faso (Keystone)

byJean-Michel Berthoud, swissinfo.ch

After a period of expert advice we quickly came to the conclusion that we need to allow the local population to take their development goals into their own hands, Philippe Fayet of the Swiss Agency for Development and Cooperation (SDC) told swissinfo.ch. The coordinator of the SDC cooperation office in Burkina Fasos capital city Ouagadougou cites the example of the town of Fada NGourma to illustrate the efforts for development of medium-sized towns in the countryside. In Fada the livestock market has developed into an economic hub. Every week hundreds of animal traders and other traders meet here. The Swiss-financed development project has an impact which extends far beyond the local context. The market is significantly contributing to the development of the whole region, Fayet said.

The trading infrastructure provided by the community of Fada NGourma, with Swiss support, which includes a central market, an animal market and a bus station, appears to have been a success. I dont trust the word success, Fayet said. To set up a market and make it work is not as important as the question what will the population make of it in the future. The decisive thing, according to Fayet, is what other people will develop out of this idea to solve their own problems building slaughter houses, bus stations, product processing, for example. This independent choice of activities by the people is important. And we have to support it. In this sense our activity at the moment is successful. Our commitment has to advance such success, said Fayet, who attended a recent development aid conference in Bern.

Josphine Ouedraogo, sociologist, ex-minister in Burkina Faso and former general secretary of the non-governmental organisation Enda Tiers Monde, accompanied SDCs rural development work at a time when the farmers movement was emerging. There was an SDC rural development study that promoted discussion among farmers and encouraged them to take personal responsibility. Through this the farmers made an important step forwards, she told swissinfo.ch. The personal responsibility acquired by the local actors can be seen now in places like the market at Fada: the activities of the local authorities, the business people, the animal traders, the banks, the local committees. Thats where the success of this movement is visible. In any case a useful infrastructure has now been put in place, Ouedraogo said. Infrastructure that mobilises even traditional circles like the livestock traders. And at this livestock market in Fada there are lots of other activities and exchange possibilities, including dealers from neighbouring countries. The earnings from this market allow the authorities to invest in other sectors, she added.

Does this mean Burkina Faso is on the right path for the future? I wouldnt put it like that, Ouedraogo answered. We have a market economy that first has to be developed, the same goes for the farmers movement. We have another long way to go towards the building of a democracy, it is a very long process. What is happening now is that the population, with or without development aid, has become aware that they can demand the local authorities or the state to deliver on their promises. Ouedraogo gives an example. In a rural village the schoolchildren not their parents staged a sit-in demanding the removal of an unpopular and violent teacher. The authorities had to get rid of him and find a replacement. That happened without the help of a development organisation, Ouedraogo laughed. This sense of personal responsibility, this self-confidence that is an important means on the way to a law-based state.

There will always be mistakes in projects, Fayet believes. We have a bus station in Fada NGourma that works badly, because of negotiations with the unions. The problem wasnt created by SDC but by the local authorities because they played it down. Whats important is that there is a solution culture. How can one overcome these difficulties? I believe such problems also happen in Switzerland. The question is the same everywhere: How can we solve such difficulties?

It is clear to Fayet that the effectiveness of development aid cannot be measured with figures alone. What really counts is listening to the voice of the local people. SDC will remain active in Burkina Faso until 2016. And then? The foreign aid organisations have to leave. Otherwise we always feel under their patronage, not confident, needing help, Ouedraogo said. Im not saying we dont need help from outside but it must be a different kind of help. Countries like Burkina Faso have to be capable to move forward with their own resources. We have to choose our own partners tell them what we need. Maybe it will then be SDC again

Jean-Michel Berthoud, swissinfo.ch (Translated from German by Clare O'Dea)

Excerpt from:
Supporting the cattle market as rural hub

SAN FRANCISCO (AP) When the Massachusetts Institute of Technology offered its first free online course this spring, Ashwith Rego jumped at the chance to learn from some of the worlds leading researchers without leaving his home in India.

I never imagined that I would be taught by professors from MIT, let alone for free, said the 24-year-old engineer who works in Bangalore.

From Harvard to Stanford, a growing number of elite universities are throwing open their digital doors to the masses. Theyre offering their most popular courses online for no charge, allowing anyone with an Internet connection to learn from world-renowned scholars and scientists.

Many colleges have offered Web-based courses for years, but the participation of top-tier research universities marks a major milestone in the expansion of digital learning.

The proliferation of so-called massive open online courses, or MOOCs, has the potential to transform higher education at a time when colleges and universities are grappling with shrinking budgets, rising costs and protests over soaring tuition and student debt.

Supporters say these online courses can lower teaching costs, improve learning online and on campus, and significantly expand access to higher education, which could fuel technological innovation and economic growth.

It holds the potential for serving many, many hundreds of thousands of students in a way we simply cannot today, said Molly Corbett Broad, president of the American Council on Education.

Last month, a dozen major research universities announced they would begin offering courses on the online learning platform Coursera, joining Stanford and Princeton universities and the universities of Pennsylvania and Virginia.

The University of California, Berkeley said it would start making online courses available this fall through edX, a competing Web portal launched in May by Harvard University and MIT with $60 million in funding from the two schools.

I believe it will ultimately revolutionize education, said UC Berkeley Chancellor Robert Birgeneau.

Original post:
Elite colleges transform online higher education - Boston.com

Summary: Stanford has announced the creation of a Vice Provost for Online Learning office -- signalling that the university may be getting serious about online education.

Stanford has announced the creation of a Vice Provost for Online Learning office -- signalling that the university may be getting serious about online education.

Computer science professor John Mitchell will be serving as the head, which has been created "in response to the requirements and potential of the 21st century". The creation of the Office of the Vice Provost for Online Learning (VPOL) is aimed "restructuring" the university, and reforming education in demands of today's global education platform -- made possible through Internet access and the rising adoption of mobile technology.

Universities are quickly learning that online platforms not only allow more flexible means of learning -- without the need to rely on traditional lecture-based models -- but they also represent a new revenue stream. By offering courses online, location and physical student intakes no longer become an issue, and universities are able to monetize on the distance-learning trend.

Stanford President John Hennessy said during the announcement:

"Stanford has been at the forefront of this game-changing, challenging initiative. Our faculty have been working in online education for some time now, and their excitement is growing. This is a field that deserves increasing attention and investment, and the new Office of the Vice Provost is in keeping with Stanford's tradition of leadership in innovation and experimentation."

The creation of the office is part of a wider scheme called Stanford Online. A new website facilitates a community of online learners, and a seed grant program is aimed at boosting online learning efforts.

In the past 20 years, Stanford has only established two Vice Provost offices -- for undergraduate and graduate education. Both of which "fundamentally reshaped education at Stanford," and it is likely the third will aim to do the same.

Around 15 courses will be offered online by fall; covering engineering, mathematics, social science, education and entrepreneurship. The university intends to launch more by spring next year. Stanford already offers courses through education startup Coursera, which was created by Stanford professors.

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Stanford creates office for online learning