Three ways to boost your retirement income
Posted: June 5, 2012 at 2:13 pm
(MoneyWatch) It's been widely accepted as retirement planning gospel that your retirement income needs to increase to account for inflation. Indeed, many experts say that the natural rise in the cost of living means that the monthly income you collect early on may not be enough to cover your living expenses in your later years.
But is this that necessarily so? Is it prudent or irresponsible to spend more in your early years of retirement -- your sixties and seventies -- assuming that you'll actually spend less in your eighties and nineties?
Given the meager level of retirement savings that most baby boomers have accumulated, knowing whether your income should increase for inflation could be an important issue. For one thing, if you don't need to plan for increases due to inflation, you can choose retirement income generators that help your retirement savings generate more initial income. (You can see how this works by looking at my April retirement income scorecard for immediate annuities.) For a married couple both age 65, $100,000 in retirement savings would buy an immediate fixed annuity that would generate an annual income of $5,840, or an inflation-adjusted annuity that would generate just $3,875 annually. The initial income for the fixed annuity is 50 percent higher than for the inflation-adjusted annuity.
IRA and 401(k) retirement drawdown: Don't die broke Retirement income scorecard: Immediate annuities
You'd see similar results if you used managed payouts to generate retirement income -- remember that a strict application of the four percent rule assumes you'll increase your retirement income each year for inflation. You might be able to justify withdrawing money from your savings at a much higher rate if you assumed you wouldn't increase your retirement income for inflation.
Some researchers have used data from the annual Consumer Expenditure Survey to imply that people spend less as they age. For example, financial expert Wade Pfau's excellent blog post, "How do spending needs evolve during retirement," summarized data from the 2010 Consumer Expenditure Survey to show that people age 75 and older spend 40 percent less than people age 55 to 64, and 26 percent less than people age 65 to 74.
The implication is that people spend less money on recreation, transportation, gifts, and other discretionary purchases as they reach their eighties and nineties. So do you need less money than you think to retire?
Before you hand in your retirement notice, consider a few limitations with relying on this type of data. First, it's entirely possible that retirees who are currently age 75 or older spend less money than younger retirees simply because they have less money to spend. This could be the case for a few reasons. For example, Social Security and pension benefits are based on a person's wage history, and recent retirees had higher real wages than older retirees. Thus, the retirement income of recent retirees could be higher than older retirees.
It's also possible that some older retirees have exhausted their savings and are now relying just on Social Security and pension benefits, if they have any, while younger retirees are still drawing on their retirement savings. The older retirees may not be making voluntary reductions in spending -- and they may not be too happy about it.
This data may also not be relevant to future retirees when you consider medical expenditures. Given the erosion of Medicare and retiree medical plans, and given that medical expenses are rising much faster than inflation, future retirees compared to current retirees may have to devote a much bigger chunk of their retirement income to medical costs.
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Three ways to boost your retirement income
New untippable motorcycle balances performance, safety
Posted: at 2:13 pm
LOS ANGELES Lit Motors calls it the C-1, but the San Francisco start-ups untippable motorcycle seems nothing short of magic. It uses gyroscopes to stay balanced in a straight line and in turns in which drivers can, in theory, roll down their windows and drag their knuckles on the ground.
Is it a motorcycle? A car? Neither. Its an entirely new form of personal transportation, presuming it gets off the ground.
The all-electric vehicle is fully enclosed and uses a steering wheel and floor pedals like a car. But it weighs just 800 pounds and balances on two wheels even when stopped, making it more efficient than hauling around a 2-ton four-wheeler and safer than an accident- prone bike.
Most people dont drive motorcycles because theyre dangerous, said Lit Motors founder and C-1 creator Daniel Kim, 32.
Were bringing safety to motorcycles with car-like controls that everyones familiar with, Kim said of his self-stabilizing two wheeler.
If it goes into production in early 2014 as planned, it will be made with a steel uni-body and glass windows to protect drivers from the weather and objects that might crash into them, leaving enough room behind the drivers seat to carry a passenger, groceries or suitcase.
Two years away from production, there are currently two versions of the C-1: a sleek, Swedish-influenced model to demonstrate its curb appeal, and a rudimentary, drivable mock-up that can travel 10 miles per hour and withstand a swift kick to its side and remain standing.
The C-1, or Concept 1, uses the same type of electronically controlled gyroscopes as the Hubble Space Telescope. Two counter-rotating gyroscopes are mounted into the floor of the vehicle, working together to maintain balance in a turn, a straight line or at rest.
The C-1 is a more user-friendly version of the X-Prizewinning E-tracer, a $100,000 electric cabin motorcycle controlled with handlebars, a throttle and outriggers to keep it upright at slow speeds and when stopped.
The C-1 isnt the first vehicle to use gyroscopes. Mechanically controlled gyro cars have been around for almost a century. While the Segway personal transporter is the most modern and mainstream example of gyroscopic technology working to balance an otherwise teetering two-wheeler, whats different about the C-1 is the configuration of the wheels and the number, size and speed of the gyros, which are as big as dinner plates piled with pancakes, their centers spinning up to 12,000 revolutions per minute.
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New untippable motorcycle balances performance, safety
Bell Leadership Launches New Peak Performance Survey
Posted: at 2:13 pm
CHAPEL HILL, N.C.--(BUSINESS WIRE)--
Bell Leadership Institute today announced that it is launching the Bell Peak Performance Profile, a new survey to evaluate an individuals effectiveness, happiness, and success in the seven major domains of life. The survey will be used for the first time during the July 17-19 Peak Performance & Complex Lives seminar in Chapel Hill.
The Peak Performance & Complex Lives seminar, now expanded to a three-day format, is recommended for individuals wanting to maximize their personal and professional performance. Designed and delivered by Dr. Gerald D. Bell, founder and CEO of Bell Leadership Institute, the seminar offers advanced strategies for peak performance. Its methods have been used by thousands of top leaders to achieve more significant and lasting contributions, deeper and more meaningful relationships, greater wealth, and true enjoyment in their lives.
Using the data provided by the 360-degree online survey, participants receive an accurate reading on how they are currently operating on the Bell Peak Performance Curve. These insights are compiled into a comprehensive, confidential report to help each participant build an action plan for achieving and maintaining a high level of performance and productivity. The world is designed to suck you into the trivia. Dont let yourself become nickel-and-dimed by the small things because youll miss out on life and success, said Dr. Bell.
The content and the presentation of the material were fantastic. The pre-course work was amazing in building relationships and opening up conversations at a very deep level, said past seminar participant, Diane Mueller, Heartland Dental Care. This was by far the best course I have ever attended and it will have a profound effect on my life.
Couples often attend this seminar together. Working on a joint life plan and understanding your partners strengths and weaknesses leads to improved partnerships. This class is truly a life changing experience. Dr. Bell is excellent at bringing into focus what makes life truly meaningful, said Mark Ritchie, former President, Carolina Beverage Corporation.
Bell Leadership Institute (www.bellleadership.com) is a recognized leader in executive education and development. Since 1972, Bell Leadership has helped organizations develop leadership mastery through its programs and services. Its training programs have been used by more than 500,000 leaders in more than 4,700 organizations in over 30 countries.
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Bell Leadership Launches New Peak Performance Survey
Virident Systems and Colfax International Deliver Customized Server Solutions Tuned for High Performance
Posted: at 2:13 pm
MILPITAS, CA and SUNNYVALE, CA--(Marketwire -06/05/12)- Virident Systems, a performance leader in flash-based storage class memory (SCM) solutions, and Colfax International, a leading provider of innovative and expertly engineered workstations, servers, clusters, storage, and personal supercomputing solutions, today announced a strategic partnership and the availability of custom-designed high-performance server solutions for enterprise customers. The custom-designed servers will feature high-performance processing from Colfax's extensive line of server solutions, and Virident's FlashMAX high capacity PCIe storage class memory solutions delivering unconditional performance.
Customers in the defense, aerospace, energy, government, education, finance, manufacturing, digital media, Web 2.0 and scientific research industries will benefit from the high-performance processing and storage performance of the server solutions. For example, a computer-aided design and manufacturing (CAD/CAM) application will return stress, fluid, or material analysis results much quicker than before possible, and create time for additional queries. Any applications running on Oracle, MySQL, or SQL Server will run faster with custom-configured server solutions from Colfax featuring Virident FlashMAX SCM solutions, which are able to support the ever-increasing capabilities and speeds of multi-core processors, the influx of big data, and demands for application performance.
"Virident's and Colfax International's customers fit a similar profile," said Kumar Ganapathy, CEO of Virident. "We both cater to large enterprises where unconditional, peak performance is critical to their business. Our joint solutions are ideal for high-performance applications based on Oracle, MySQL, and SQL Server databases."
"Colfax International chose Virident because of the unconditional performance characteristics of FlashMAX for high-performance applications," said Gautam Shah, CEO of Colfax International. "We are confident that Virident FlashMAX will be an excellent complement to our product portfolio because our customers rate top performance as their measurement for success."
Virident FlashMAX, a PCIe storage class memory solution, ensures that application performance is 10 times faster than hard disk drive systems at one-third of the total cost of ownership. FlashMAX offers the industry's highest storage capacity in the smallest footprint while delivering twice the performance of competing solutions. FlashMAX SCM has been designed from the ground up to fully exploit today's computer architectures which leverage many fast CPU cores and the PCI Express interconnect bus to deliver maximum application performance.
High-performance server solutions are available in a wide variety of custom configurations from Colfax International and Virident. For more information contact Virident at sales@virident.com or (408) 503-0100; contact Colfax International at sales@colfax-intl.com or (408) 730-2275.
About Colfax InternationalColfax International is a global provider of customized workstations, servers, clusters, storage and personal supercomputing solutions. Founded in 1987, Colfax International is based in Sunnyvale, California and is privately held. For more information, please visit http://www.colfax-intl.com.
About Virident SystemsVirident Systems enterprise-class Storage Class Memory (SCM) solutions deliver unconditional, consistent performance that supports the most data-intensive content and applications. The inherent advantage associated with this disruptive technology revolutionizes computing by speeding application response time and optimizing datacenter efficiency for new levels of ROI. Virident Systems is backed by strategic investors, Intel, Cisco Systems and a leading storage hardware and software solutions provider, as well as venture investors Globespan Capital Partners, Sequoia Capital, and Artiman Ventures. For more information, visit http://www.virident.com.
Virident, Virident FlashMAX, vFAS and the Virident logo are trademarks of Virident Systems. All other products and services listed herein are trademarks of their respective companies.
Personal Technology Experts(R) at Support.com Discuss Seven Great Features That Make Windows(R) 8 PCs Deliver Improved …
Posted: at 2:13 pm
REDWOOD CITY, Calif., June 4, 2012 (GLOBE NEWSWIRE) -- Microsoft has pulled back the curtains on Windows 8 by making the Consumer Preview freely available. According to Microsoft, the new operating system will "change the way you interact with your PC, with improved functionality, speed and performance." The Personal Technology Experts at Support.com (Nasdaq:SPRT - News), a provider of technology support services and software for consumers and small business, have been testing the preview edition and have identified seven features that deliver on that promise:
1.
The new "Metro" User Interface: the "Start" button and desktop shortcuts have been replaced with Windows Phone Metro-style tiles that both launch common applications and display notifications (like received email). You can "pin" any application to the Start screen to create a tile or group common applications into a single tile by dragging them together.
2.
New Authentication Methods: there are now four authentication methods, three of which are new: PIN, Windows Live(R) ID, Picture Password, and the traditional User ID and Password. If you choose a Windows Live ID you have an option to sync your settings between multiple devices running Windows 8. Additionally, with SkyDrive(R) you can easily share files between all of your devices.
3.
Faster Boot Times: Microsoft has introduced a hybrid shutdown and boot process that will take less than 10 seconds for a Windows 8 PC with a SSD (solid-state drive) to go from powered down to the start screen, which is 30% to 70% faster than Windows 7.
4.
Refresh and Reset: reinstalling the OS or returning the PC to its original state is easier than ever. Microsoft has introduced an easy-to-use, step-by-step wizard to 'Reset' and 'Refresh' PC configurations. The 'Reset' feature helps users go back to the original state (default install) of their PC, which removes all data and apps while the 'Refresh' feature will restore default settings without losing any data or applications.
5.
Find The Best Empower Network Team. Hands Down Best Empower Network Team. – Video
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World Ventures Success Story: Carlos Rogers – Video
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World Ventures Success Story: Carlos Rogers - Video
Hertz Expands "Speed, Ease and Personal Service" Rental Programs
Posted: at 2:12 pm
PARK RIDGE, N.J., June 4, 2012 /PRNewswire/ --The Hertz Corporation (HTZ) announced today an aggressive expansion of new technology-driven, customer service enhancements to more Hertz locations worldwide. The services, highlighted in the "Traveling at the Speed of Hertz" campaign, provide speed and ease helping Hertz Gold members save time via mobile and on-site service options and getting customers quickly behind the wheel of their preferred rental vehicle.
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"Hertz is responding to the exponential growth of mobile technology to streamline consumers' lives, including business and leisure travel," commented Hertz Chairman and Chief Executive Officer, Mark P. Frissora. "Customers love our Mobile Gold 'Carfirmations' because the service provides consumers confidence that their rental vehicle is ready to go. Hertz's suite of technological innovations is a key element of our commitment to make the car rental experience the fastest and easiest in the industry."
Hertz Gold Choice gives Gold customers the power to select their own car and go, and is now available at 48 U.S. locations and 7 European locations, with plans to add 10 additional locations within the next year. Hertz ExpressRent Kiosks, which let customers rent a car without a reservation through a live, face-to-face video kiosk, are live in 153 airport and off-airport locations across the U.S. Hertz has processed more than 100,000 rentals with its ExpressRent Kiosks and has set a new record handling of approximately 6,000 transactions per week via the kiosks.
"Traveling at the Speed of Hertz" enhancements that Hertz continues to expand include:
In addition to the success of the programs above, Hertz was recently voted the Best Overall Car Rental Company in Zagat's 2012/13 U.S. Car Rental Survey. In addition to best overall, Hertz earned top honors in 14 additional categories, more than any other car rental company surveyed. The Hertz Gold Plus Rewards program also garnered top honors for Best Rewards Program and Best Overall Benefits in the Americas, Europe/Africa, and Middle East/Asia/Oceania in the first annual FlyerTalk Awards.
About The Hertz Corporation
Hertz is the largest worldwide airport general use car rental brand, operating from approximately 8,500 corporate and licensee locations in approximately 150 countries in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz is the number one airport car rental brand in the U.S. and at 119 major airports in Europe. In addition, the Company has sales and marketing centers in 60 countries which promote Hertz business both within and outside such country. Product and service initiatives such as Hertz Gold Choice, Hertz #1 Club Gold, NeverLost customized, onboard navigation systems, Sirius XM Satellite Radio, and unique cars and SUVs offered through the Company's Adrenaline Prestige and Green Traveler Collections, set Hertz apart from the competition. In 2008, the Company entered the global car sharing market with its service now referred to as Hertz On Demand which rents cars by the hour and/or by the day, at various locations in the U.S., Canada and Europe. Hertz also operates one of the world's largest equipment rental businesses, Hertz Equipment Rental Corporation, offering a diverse line of rental equipment, from small tools and supplies to earthmoving equipment, as well as new and used equipment for sale, to customers ranging from major industrial companies to local contractors and consumers, from approximately 315 branches in the United States, Canada, China, France, Spain, Italy and Saudi Arabia, as well as through its international licensees. Hertz also owns Donlen Corporation, based in Northbrook, Illinois, which is a leader in providing fleet leasing and management services. To make car rental reservations or for more information, customers can call their travel agent, or call Hertz toll-free at 1-800-654-3001. Information and reservations are also available on the web at http://www.hertz.com.
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Hertz Expands "Speed, Ease and Personal Service" Rental Programs
Stakes Success for Wealthy Man
Posted: at 2:12 pm
Stakes Success for Wealthy Man
Six-year-old New Zealander Wealthy Man (NZ) (Danzighill x Tatts M' Name) claimed his first stakes success in Macau on Saturday, beating top racehorse Luen Yat Forever (Honours List) to win the M$700,000 M-2 Macau Directors' Cup (1500m).
French apprentice jockey Charles Perkins gave Wealthy Man the perfect ride in the feature race of the meeting, jumping on the speed before settling in the box seat just off the leaders and powering away in the straight. The race winning time of 1 minute 25.5 seconds was a new track record, over half a second quicker than the old record of 1 minute 26.1 seconds.
Trained by Stephen Chow, the win was Wealthy Man's eighth from 28 career starts. The six-year-old has been close to stakes success in the past having run second in the Listed Macau Sprint Trophy (1200m) in 2010 and third in the Listed Macau Hong Kong Trophy (1500m) in 2011.
Bred by Abingdon Thoroughbreds, Wealthy Man was purchased by Glenn Old from White Robe Lodge at New Zealand Bloodstock's South Island Sale of Two-Year-Olds & Mixed Bloodstock for $12,000. He has now won over NZ$400,000 for his owners Lau Fu Wing & Tse Kam Po.
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Stakes Success for Wealthy Man
Equifax Launches Program to Address Credit Literacy Among U.S. Hispanic Consumers
Posted: at 2:12 pm
ATLANTA, June 5, 2012 /PRNewswire/ --Equifax Inc. (EFX) announced today that its Personal Solutions unit is launching an innovative program to address credit literacy among U.S. Hispanic consumers, including a Spanish-language web site (www.equifax.com/espanol) and three Spanish-language products.
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Equifax is among the first of the major consumer credit product companies in the U.S. to target Hispanics with a program to educate the community on the importance of credit and also empower consumers with educational resources, products and tools to make sound decisions. Both the web site and products have been designed to meet the unique needs and preferences of the Hispanic consumer.
Equifax has collaborated with a trusted financial advisor and media personality in the Hispanic community, Julie Stav, to develop and launch this important program. Stav engages millions of Hispanic consumers each month through her national radio show, Tu Dinero con Julie Stav, and other media platforms. She is now serving as the Equifax program's ambassador, generating awareness and promoting engagement among Hispanic consumers.
"Understanding and serving the Hispanic market is and will continue to be critical to the success of any company in the U.S. We're proud to be among the first consumer credit product companies to launch an initiative specifically designed for this market," said Trey Loughran, president, Equifax Personal Solutions. "Hispanic buying power in the United States is increasing significantly every year, and these consumers must understand and have access to credit to purchase homes, cars and other significant items. It's why we created this program and why we are teaming with Julie Stav, an expert in understanding Hispanic consumers' personal finance and credit education needs."
The Hispanic population in the U.S. is expected to grow 167 percent from 2010 to 2050, according to the U.S. Census. Hispanic buying power in the U.S. is estimated to be $1.2 trillion in 2012 and is projected to increase to $1.5 trillion in 2015, according to the Selig Center for Economic Growth.
Equifax's Spanish-language web site for Hispanic consumers features educational content on a range of credit-related topics, including broad use of video and graphics. The site also features a new credit monitoring subscription product and two credit reporting products. For more information, visit http://www.equifax.com/espanol.
"Everything we are doing with our Hispanic-focused initiative from the educational web site and Spanish-language products to the relationship we have developed with Julie Stav ties directly to the Equifax Personal Solutions mission: empowering consumers to be their financial best," said Loughran. Our Spanish-language program and offerings enable us to reach, educate and empower many more people."
About Equifax
Equifax Personal Solutions empowers consumers with the confidence and control to be their financial best. Find out more about Equifax's innovative suite of credit monitoring and identity theft protection products designed to enable consumers to maximize their financial well-being at http://www.equifax.com. Get smart information on everything from credit to retirement, all in one place at the Equifax Finance Blog, http://www.blog.equifax.com.
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Equifax Launches Program to Address Credit Literacy Among U.S. Hispanic Consumers