Archive for the ‘Retirement’ Category
The Ginobili name still winning after the retirement of the Spurs legendary guard – Pounding The Rock
Posted: April 6, 2020 at 5:56 pm
Manu may have retired from basketball, but his name is still making sports headlines. While many sports are shut down due to the coronavirus pandemic, horse racing is still taking place in Arkansas.
And believe it or not, there is a racing horse that has been named in honor of the Argentinian basketball star. He, the horse, made a trip from his California home to Hot Springs, Arkansas for a race last night. Interestingly, a horse named for Rafael Nadal is also making the rounds on the tracks.
Unfortunately. Ginobili came in fifth for his race.
So, for now, Manu is still the winningest of Ginobili named athletes.
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The Undertaker hints at retirement aged 55 with cryptic hell of a ride tweet after Wrestlemania 36 – The Sun
Posted: at 5:56 pm
THE UNDERTAKER hinted it could be all over with a cryptic social media post after Wrestlemania 36 suggesting he could be set to retire.
After his victory over AJ Styles at the weekend, many thought the American could call time on his wrestling career.
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And now it looks increasingly likely that will be the end of The Undertaker.
The 55-year-old took to social media to share a photo of him in deep thought at the scene of his latest fight.
He wrote: "It was a hell of a ride! #BoneyardMatch #WrestleMania #30years"
And many were convinced that was the sign it was all over.
One commented: "Thank you for everything."
Another said: "Oh c*** I think he's done."
A third added: "What a way to go out. Congratulations."
One went with: "Wait... is this the end? If so, thank you for everything - you are the Greatest of All Time. No one comes close to you."
Another typed: "55 YEARS OLD AND STILL PUTTING ON CLASSICS. That was an amazing match and if its your last, I thank you for all the memories!! But Id love to see you end it all next year with the crowd at Mania."
And a final user replied: "Im so proud of you even if this is your last match ever you will always be my favorite whether it would be the American bad a** or the dead man you are number one in my opinion #ThankyouTaker."
In scenes not dissimilar to a horror movie, Taker took on Styles in the BoneYard.
And he sealed the Mania win by climbing into a digger and pouring dirt all over Styles before mounting his motorbike and riding off.
The Undertaker - actually called Mark William Calaway - joined WWE in 1990, hence the "#30years" in his tweet.
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He has hinted at retiring many times since the late 90s but each time has convinced himself to step back in to the show.
Calaway has had his fair share of injuries over his career and required surgery on plenty of occasions.
There was even a rumour that he had died in 2014 but that proved to be a hoax.
Originally posted here:
The Undertaker hints at retirement aged 55 with cryptic hell of a ride tweet after Wrestlemania 36 - The Sun
JOHN DeMONT: Nurse comes out of retirement to join the war on COVID-19 – TheChronicleHerald.ca
Posted: at 5:56 pm
Nurse Shelly McHugh has come out of retirement to return to the IWK Health Centre to help fight the COVID-19 crisis.
Two weeks ago Shelly McHugh was anxious, as any nurse would be, coming out of retirement in the midst of the COVID-19 crisis.
So, on her first day, she took the long way, around the Bedford Basin, from her home into the IWK Health Centre, as she always did when reflection was required.
I didnt know what I was going to be doing, the 61-year-old told me Sunday.
All this woman, who graduated from nursing school in 1980, knew was that she would be contributing and helping, which was enough.
Thats why, two years after her retirement, she applied for and received a four-month conditional nursing licence.
Thats why, four days a week, she now leaves her Bedford home and heads back to the IWK, where her last full-time job was clinical director of the Perinatal Follow-up Centre.
Signing on, McHugh said yes when asked if she would be willing to go into the assessment unit and take swabs testing for the virus.
Instead, on the first day of first duty, she was deployed to the IWKs occupational health arm, which oversees employee wellness at the regions biggest pediatric hospital.
Its not the front lines, she stresses.
McHugh emphasizes that shes not doing the heavy-lifting like the nurses, doctors, cleaners, respiratory therapists and other staffers at the IWK, long-term care facilities and throughout the health-care system, along with everyone else going head-to-head with COVID-19.
Theyre the heroes, she said.
But what she and three other retired nurses in the IWKs occupational health department do dealing with the health concerns of the hospitals employees is critical.
Experts tell us over and over again that if our health-care providers get ill, our ability to flatten the curve diminishes, and chances of our whole health-care system being overwhelmed by this plague increase.
Its like a great big puzzle, said McHugh whose hobby is actually putting together huge, 1,000-piece jigsaw puzzles. And were all a piece in it.
She seemed predestined for this moment.
Growing up in northern New Brunswick, she heeded the words of her miner father who said that he always wanted a nurse in the family.
Outside of a short stint in London, Ont., when her husband Ed was studying at the University of Western Ontario, shes been a nurse in the Halifax area, almost all of it at the IWK, including nearly two decades in the neonatal intensive care unit.
When she retired two years ago it wasnt to put her feet up.
McHughs nursing training came in handy during a grim run of family-related illness that included the death of her father-in-law, her own dads dementia and a sister-in-laws cancer treatment.
Coming out of the other end of that she thought that maybe shed take another nursing job, or perhaps try something new altogether.
Then this came along, she said.
All those years in the neonatal unit taught McHugh a thing or two about hand washing and wiping down high-risk surfaces.
Their workplace is cut off from the working part of the hospital. Social-distancing is practised in her office, which is down the hall from her occupational health managers. She and her colleagues, who are known as the seasoned nurses deals with health-related questions over the phone, rather than in person.
Nevertheless, entering in the door at home after work, McHugh takes off all her clothes and throws them in a laundry basket. Then she immediately heads for the shower.
Last Friday she had a bit of a scare, a sore throat that turned out to be nothing.
But shes not going to lie: its tiring. Shes 61 and doing something shes never done before.
The calls never seem to stop hundreds, in seems, during every eight-hour shift even if the tone of most of them is downright inspirational.
They just want to know when they can get back to work, she said.
McHugh will go where they need her.
Her area of expertise, neonatal, is limited. But to fight COVID-19. team nursing units are being struck which she could be a part of.
The likelihood of her joining the IWKs assessment unit is probably pretty slim. But you can learn pretty quickly how to take a swab, she said.
By which she means that if sheis needed there, well McHugh is fine with that too.
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JOHN DeMONT: Nurse comes out of retirement to join the war on COVID-19 - TheChronicleHerald.ca
All residents, staff of Fargo retirement community to be tested for COVID-19 following death of resident – INFORUM
Posted: March 31, 2020 at 8:45 am
The letter, obtained by The Forum, outlines the steps being taken at Riverview Place at 5300 12th St. S., Fargo, to prevent the spread of COVID-19.
The illness, caused by a highly contagious novel coronavirus, is sweeping the globe and has no vaccine or proven treatment.
Riverview Place is owned by Catholic Health Initiatives, which has retirement communities in seven states, including North Dakota. Its letter states, in part:
To ensure the health of our residents and employees, the state health department has recommended each of our residents, staff and contractors be tested for COVID-19 and that test results would be returned within approximately 24 hours.
Its not clear when the testing will take place, or if it already has. The letter, dated March 30, stated that tests would happen this afternoon, although a family member of a resident there told The Forum their loved one had not yet been tested.
Catholic Health Initiatives had not responded to a request for comment as of 7:30 p.m. Monday.
In addition, the letter stated that because of the positive test result from last week, Riverview would be placed under quarantine for the next 14 days, and residents should continue sheltering in their apartments.
The first person who died in North Dakota from COVID-19 was a resident of Riverview Place, along with his wife.
Roger Lehne, 93, a Navy veteran and educator, declined to be put on a ventilator, possibly to save it for another patient, his niece said Saturday, March 28.
Lehne died Thursday at the Veterans Affairs Hospital in Fargo. His 84-year-old wife, Teresa, has also been diagnosed with COVID-19 and has been hospitalized at Sanford Health.
The letter to Riverview Place families said that, based on guidance from local and state health departments, previous recommendations already implemented will continue, including:
Additional actions being taken include having residents schedule times to do their laundry so facilities can be sanitized between usage.
The letter also asked residents to avoid using their mailboxes, and mail will be delivered to residents directly.
Theyre also asked to place their garbage outside their doors for employees to pick up, the letter said.
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All residents, staff of Fargo retirement community to be tested for COVID-19 following death of resident - INFORUM
IRA And Retirement Plan Changes In The CARES Act – Forbes
Posted: at 8:45 am
(Photo by Matthew Horwood/Getty Images)
The Coronavirus Aid, Relief, and Economic Security (CARES) Act rolled through Congress and was signed by President Trump this week. While most of the law is devoted to providing economic stimulus for businesses, a few provisions change some of the rules for retirement plans.
Required minimum distributions (RMDs) are suspended for 2020. All RMDs are suspended, including those for inherited IRAs as well as traditional IRAs of those over age 70. Think carefully about whether to take advantage of this suspension. If the effects of the pandemic dropped you into a lower tax bracket, it might make sense to take the RMD (and perhaps a bit more) out of the IRA this year while youre in a lower tax bracket.
If you already took the 2020 RMD, you will have to include it in gross income and pay taxes on it. But you might have some options. You have up to 60 days to return a distribution to an IRA or deposit it in another qualified retirement account without owing taxes on it. You also might convert the amount into a Roth IRA.
Since the tax return filing deadline for 2019 income tax returns was extended to July 15, the deadline for making a 2019 contribution to an IRA also is extended to July 15, 2020.
The 10% penalty for taking early distributions from qualified retirement plans, including IRAs and 401(k)s, is waived. The waiver applies to distributions taken between January 1, 2020 and December 31, 2020. Up to $100,000 of distributions can avoid the penalty.
Other rules related to retirement plan distributions are suspended or modified in the CARES Act. The mandatory 20% income tax withholding for rollover distributions is suspended during this period. In addition, income taxes on a coronavirus-related distribution can be paid over a three-year period. The individual also has up to three years to recontribute the amount to a plan or IRA. An in-service distribution from a qualified retirement plan also is permitted if it is coronavirus-related.
Retirement plan loan rules also are modified. The maximum loan amount is increased for loans that are made between the date of enactment of the CARES Act (March 27) and December 31, 2020. Normally the loan maximum is $50,000 or 50% of the vested account balance. During this period the maximum loan is doubled to the lower of $100,000 or 100% of the vested account balance. The due date for repayment of the loan is delayed one year.
To qualify for these IRA and retirement plan changes, a loan or distribution must be coronavirus-related. That means the individual, the individuals spouse or a dependent must have been diagnosed with COVID-19. Or the individual must experience adverse financial consequences as a result of being quarantined, furloughed, laid off or having work hours reduced due to COVID-19. Also eligible are individuals who were unable to work due to lack of child care as a result of COVID-19. An individual whose business was closed or had reduced operating hours as a result of COVID-19 also is eligible. A retirement plan administrator can rely on an individuals certification that he or she meets the requirements.
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IRA And Retirement Plan Changes In The CARES Act - Forbes
Here’s What to Do If You Need to Postpone Retirement Due to Coronavirus – The Motley Fool
Posted: at 8:45 am
The coronavirus pandemic has affected nearly every aspect of our society, fundamentally changing the way we currently live. It's also wreaked havoc on the economy, and there's a good chance you've watched your retirement investments take a nosedive in recent weeks.
For those who are still many years away from retirement, this shouldn't worry you too much. The stock market will always experience ups and downs, so although your retirement savings may be in rough shape now, they should bounce back on their own as long as you continue investing consistently.
However, if you're just a year or two away from retirement, you may need to adjust your plans. If your current savings aren't nearly as strong as you'd hoped they'd be by this point, you might have to delay retirement.
Image source: Getty Images.
Determining whether to postpone retirement can be a tough decision, but it comes down to how close you are to your desired retirement age and how much you have in savings.
If you planned to retire this year and your investments have taken a significant hit, you might have no choice but to delay retirement if you can't afford to live on the savings you have. But if you have quite a few years left before you plan to retire, you might be able to supercharge your savings during that time to get back on track and retire on schedule.
It can be challenging to plan for your senior years during a market downturn because nobody knows exactly how long it will be before the economy starts to improve and stocks start to bounce back. So if you're trying to figure out just how much you need to save now or exactly what age you'll be able to retire, there may not be an immediate answer.
Flexibility is key here, so try your best to ride out this storm and adjust your plans along the way. And there are a few things in particular you can do right now to make that task a little easier.
Regardless of whether you're close to retirement or it's still decades away, it's best tocontinue contributing to your retirement fund. It may feel like you're simply throwing money away when the market is in free fall, but now is actually a smart time to invest when stock prices are low. The stock market will improve over time, so focus on the long term more than the short term.
One thing you don't want to do right now is cash out your retirement fund.Cashing out may sound like a good idea when your investments plummet because you might think it will help salvage whatever money you have left. In reality, though, selling your investments when the stock market is at a low point will only hurt your savings in the long run. By liquidating now and then waiting until the economy improves to start investing again, you're missing out on valuable time to let your money grow.
Once the market starts to recover, it will be easier to gauge whether your savings are enough to be able to retire on time. If you find that your retirement fund isn't quite as robust as you hoped it would be, you'll either need to start stashing away more or push retirement back by a few years. But if the stock market is booming and your investments have grown quickly, you might be right on track for retirement.
If you decide to postpone retirement, working a few years longer has an additional benefit: You could collect larger Social Security checks. You can begin claiming Social Security as early as age 62, but for every month you wait past that age, you'll receive slightly bigger checks. So if you decide to delay retirement by a few years to pad your nest egg, you could also delay benefits, as well, to further boost your retirement income.
Retirement planning is never easy, but it's even more challenging during difficult economic times. While the future may be unpredictable, that doesn't mean you can't take steps to prepare the best you can. By continuing to save and being willing to be flexible with your retirement plans, you can set yourself up for an enjoyable retirement -- even if it's a few years later than you originally expected.
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Here's What to Do If You Need to Postpone Retirement Due to Coronavirus - The Motley Fool
Retiring in the Next 5 Years? 6 Steps to Measure Your Retirement Readiness – The Motley Fool
Posted: at 8:45 am
When it comes to retirement, you're well-served to remember the carpenter's rule: Measure twice, cut once. You don't want to claim your Social Security at age 62, for example, and then realize six months later you have to return to the workforce. Missteps like that can be costly.
As you approach retirement, it's wise to check and recheck your financial health -- but it's critical in this period of market volatility. Yes, your retirement savings balance is in flux. And yes, this market downturn, like all the rest, is temporary. But a review of where you stand today, outside of your savings balance, may inspire you to make different choices that'll benefit you tomorrow. If you hope to retire before 2025, here are six steps to measure your retirement readiness.
Image source: Getty Images.
View your estimated Social Security benefits by creating an account online at My Social Security. Once you log in, you'll see three estimates of your benefits, depending on when you claim:
If your estimated Social Securitybenefit is disappointing, take steps to increase it while you're still working. The benefit calculation relies on your average monthly income in your 35 highest-paid, income-earning years. Raise that average and you raise your benefit, too.
As with any average, you'd increase it by replacing lower values with higher ones. If your income is at or near its peak, continuing to work will naturally raise your average. Your salary this year, for example, replaces your lower salary of 35 years ago in the calculation. The only time this doesn't apply is if you've earned the Social Security income limit for 35 years straight. That income cap in 2020 is $137,700.
Quantifying your pension income is straightforward if you still have access to the pension administrator. Simply reach out to that administrator and ask about your expected benefits.
Things are trickier if you've lost track of your pension details. In that case, search the Pension Benefit Guaranty Corporation's unclaimed pensions database. Also look through your old employment paperwork, and call former employers' benefits departments and inquire about pension benefits.
Knowing your living expenses in detail is one of the most productive retirement planning steps you can take. That's because your living expenses ultimately determine how much money you need to retire. It is possible to retire as scheduled even when your portfolio is down 20% -- but you'd have to adjust your living expenses now and going forward to make that happen.
Start tracking your spending today. You can use an app like Clarity Money or Mint, or you can regularly download and review your bank transactions manually. The manual review may be more productive, because you have to put your eyes on each transaction to make sense of your spending. That exercise alone often reveals savings opportunities. You might realize you don't need the Friday morning latte or two separate streaming services. Or, when you see the auto-billed charge for your car insurance come through, you might be motivated to shop around for cheaper rates.
You may qualify for retiree benefits through your employer, a union, the military, or the VA. These benefits might include full extension of your healthcare coverage. Or you might get smaller perks, like discounts on hearing aids, glasses, or contacts. Meet with your benefits administrator at work and representatives at any other organizations to get the details. Every perk counts.
Healthcare is a wildcard for retirees. You should qualify for Medicare at age 65, but that coverage still leaves you with deductibles, copayments, and coinsurance. By some estimates, you'll spend nearly $300,000 in out-of-pocket medical expenses for you and your spouse in retirement.
If you do qualify for retiree healthcare, it is an option to keep that plan and apply for Medicare too. Typically, Medicare would function as your primary insurer and the other coverage would be secondary. You'll have to weigh potential savings against the cost of premiums for the group plan. See if your benefits administrator can help you with this analysis.
Funds saved in a Health Savings Account, or HSA, will also help you manage healthcare costs in retirement. To qualify for an HSA, you must have high-deductible health insurance. Specifically, that means your individual deductible is at least $1,400 or your family deductible is at least $2,800.
Contributions to your HSA are pre-tax, and withdrawals used for medical costs are tax-free. The HSA contribution limit in 2020 is $3,550 as an individual or $7,100 as a family. But if you're 55 or older, you can increase those limits by $1,000. Make those deposits today while you can; you can't make HSA contributions once you transition to Medicare.
Review your life insurance coverage and accumulated cash value in light of your current financial priorities. Accumulated cash value is an asset, and you could use it to bridge a savings shortfall. Your policy should allow you to borrow or directly withdraw that cash value. You could also surrender the policy and the insurer would pay out the accumulated cash value, less any surrender fees. You could even sell your life insurance through a life settlement company. Know that these strategies may have tax implications, so check with your accountant before proceeding.
On the other hand, you may want to protect the death benefit in your policy. In that case, keep paying your premiums and don't withdraw or borrow against your cash value. Pulling cash out of your life insurance generally reduces the death benefit immediately.
A 2025 retirement may still be within striking distance, despite the current stock market craziness. The only way to know is by measuring where you stand today. Go through this exercise and you may realize you're in better shape than you thought. If not, make adjustments and measure again. That's how to get where you need to be.
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Retiring in the Next 5 Years? 6 Steps to Measure Your Retirement Readiness - The Motley Fool
Sunshine Retirement Living Now Hiring at Senior Communities Across the United States – PRNewswire
Posted: at 8:45 am
BEND, Ore., March 31, 2020 /PRNewswire/ -- With a singular and enduring focus on providing the highest standard of care for its residents for the past 20-plus years, Sunshine Retirement Living, (www.sunshineret.com), a Bend, Oregon-based, family-owned premier senior housing company, is seeking to fill more than 100 open positions at several of its communities across the country. As the COVID-19 pandemic continues to spread, Sunshine Retirement Living has deployed a two-fold approach in order to have the most positive impact on their communities. Sunshine Retirement Living has: 1) heightened infection prevention protocols above and beyond CDC guidelines to help ensure the health and safety of its residents and existing employees; and 2) committed to focus on hiring people who have lost their jobs due to the pandemic. To that end, initial interviews will be conducted online or over the phone, and all candidates and new employees will undergo strict screenings as directed by the CDC and other leading health organizations and authorities to detect any sign of illness before entering any Sunshine community.
"Sunshine Retirement Living's mission has always been to exceed industry standards and that includes hiring the only the most caring and skilled team members, who are passionate about their roles and their positive impact on seniors' lives," said Luis Serrano, CEO, Sunshine Retirement Living. "To ensure that we continue to provide the highest standard of care and to ensure that our employees get the rest they need to stay healthy physically and mentally, we are immediately seeking to hire more than 100 employees across a wide range of positions. The top requirement for joining the Sunshine team is a commitment to enriching the lives of our residents each and every day."
In addition to several management positions, the company seeks: caregivers, wellness nurses (LPN and RN); cooks, sous chefs, prep cooks and dishwashers; concierges; housekeepers and maintenance coordinators; and CDL bus drivers. Those interested in learning more about the positions and the application process can visit https://www.sunshineretirementliving.com/careers/.
The majority of available positions are at the following communities:
About Sunshine Retirement LivingBased in Bend, Ore., Sunshine Retirement Living manages 32 retirement communities in 16 states, offering senior apartments, independent living, assisted living and memory care. A family-owned business with more than 20 years in the senior housing industry, Sunshine Retirement Living's mission is to be the preferred senior living provider offering value, choice and independence while promoting health and social interaction that exceeds residents' expectations and enriches the lives of both residents and staff. By providing meals, housekeeping, activities, transportation, utilities and in-house management staff, Sunshine Retirement Living continues to build an unparalleled community feeling in each property. For more information, visit http://www.SunshineRet.com or connect socially, @SunshineRetirementLiving.
SOURCE Sunshine Retirement Living
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Sunshine Retirement Living Now Hiring at Senior Communities Across the United States - PRNewswire
The traditional retirement portfolio of stocks and bonds is down 20% for only the fourth time since WWII – CNBC
Posted: at 8:45 am
The coronavirus crisis has punished the blameless across the world this year. That includes investors who did the supposed "right thing," by keeping a balanced portfolio to fund long-term gains, just as the experts advise.
As the stock-market cascaded to its recent lows this month, the traditional portfolio of 60% stocks and 40% bonds suffered a greater than 20% decline from its peak value, for only the fourth time since World War II.
At last Monday's low, this standard retirement allocation, as represented by the Vanguard Balanced Index Fund, was 22% off its peak Feb. 19 value driven mostly of course by the 30% tumble in equity indexes that bonds only partially buffered. In fact, near the worst of the stock sell-off bonds were not offsetting the losses by rallying, as everything but cash was liquidated.
Upon request, Ritholtz Wealth Management research director Michael Batnick went back in history to track each time the 60/40 portfolio had taken at least a 20% hit. Such a decline struck initially at only the following points since 1945 (using month-end data for 60% S&P 500 and 40% five-year Treasuries): August 1974, September 2002 and January 2009.
The fact that the 60/40 autopilot approach has only retreated by 20% on a monthly basis four times in 75 years is itself a testament to the smoothing effects of offsetting equity-fixed income interplay.
What happened next after the prior 20% setbacks? Those months were all within months of the trough of major bear markets, though in each case the ultimate low for the stock indexes was still to come.
Batnick calculates that in those three instances in 1974, 2002 and 2009, it took between 10 and 20 months for this portfolio to recover back to its peak level.
An investor who kept to the disciplined approach and rebalanced holdings back to the 60/40 asset split at the end of the month when a 20% decline was first registered would have been positioned for attractive returns in subsequent years.
In those three instances, the average annual total return from the 60/40 portfolio was close to 12% over the following five years. That's a healthy advantage over the very long-term average yearly return of around 9% for this asset allocation.
This is perhaps comforting, if not terribly surprising. Any investment discipline that triggers a move to take advantage of steep underperformance in one asset classes tends to be rewarded over time. And rebalancing after big declines in a blended-asset portfolio has generally been about buying nasty breaks in stock indexes.
On a more opportunistic, shorter-term basis, strategist Terry Gardner of C.J. Lawrence last week noted that simply buying the S&P 500 the last three times it's dropped 25% from a peak (1987, 2001 and 2008), as it did this month, has always led to positive returns over the next year even though in none of those instances did the minus-25% level represent the ultimate low for stocks. Those returns one year out were 20% after 1987, 2.5% after 2001 and 18% after 2008.
Are there reasons to be skeptical that holding fast to the 60/40 stance this time will not fare as well as in past decades? Some investment professionals have discussed for some time that the essential premise of the 60/40 mix has been challenged due to extremely low bond yields that leave far less room for bonds to appreciate in an economic slowdown or crisis, mitigating their value as ballast to stocks.
Goldman Sachs strategists last week sounded a cautious note on this front last week with regard to the present market skid. "In addition to the sharper-than-normal equity correction, diversication in 60/40 portfolios has been less good," the firm said. "With bond yields at all-time lows now and close to the effective lower bound, there is little space for most [developed-market] bonds to buffer equity drawdowns."
Stretching deeper into history, skeptics might note the 60/40 portfolio carried a 20% loss for longer stretches in the 1930s, when stocks stayed deep underwater during the entire Great Depression.
So perhaps the traditional asset mix will get less help over time from bond yields squeezing lower in tough times (barring a move to negative yields, which would create a whole other set of issues). Still, bonds can still serve the role as cushion against equity losses.
The entire issue of rebalancing is hardly just an academic issue. The impulse from pension funds and automated asset-allocation vehicles to shift hundreds of billions in assets from fixed-income to stocks was detailed by strategists across Wall Street and was at least one significant driver of the surge in the S&P 500 into Thursday's close.
The S&P 500 at its low point last week was underperforming the Barclays Aggregate Bond Index by some 30 percentage points year to date. Bespoke Investment Group notes that this effectively turned a 60/40 portfolio into a 55/45 mix, requiring one of the bigger rebalancing moves in years.
Of course, to the extent that this mechanical reallocation is timed to the quarter's end, it means one short-term tailwind for the rebound rally has just about abated, as the market bounce leaves the indexes less stretched and investors have celebrated fresh trillions of dollars in support from the Federal Reserve and Congress.
Strategist Tony Dwyer of Canaccord Genuity, who's been waiting for a retest of last week's low to get more aggressively positioned, noted Friday, "Over coming days, the market will not be as oversold, the pension rebalancing will be done, and the bulk of monetary and fiscal stimulus will have been announced."
While those factors could present a test of the immediate resilience of the market's attempted comeback, they don't much alter the case for long-term investors to take what the market has served up with its swift retrenchment this month.
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The traditional retirement portfolio of stocks and bonds is down 20% for only the fourth time since WWII - CNBC
At Sioux City retirement communities, families visit at the window and bingo is played in the doorway – Sioux City Journal
Posted: at 8:45 am
COVID-19 Storm Lake school lunch
Mike Sullivan, assistant Storm Lake elementary principal, passes out a lunch Tuesday, March 17, 2020, at West Ninth Street Park in Storm Lake, Iowa. The Storm Lake Community School District started free distribution of breakfasts and lunches Monday to anyone under 18 to help feed youth who would otherwise be missing meals in the wake of the schools' closure over COVID-19 pandemic concerns. Lunchtime Solutions, the district's meal contractor, made 1,200 sack lunches for distribution Tuesday.
Kellie Anderson, principal of early childhood programs and special education director, passes out a lunch Tuesday, March 17, 2020, in a parking lot at an apartment complex in Storm Lake, Iowa. The Storm Lake Community School District started free distribution of breakfasts and lunches Monday to anyone under 18 to help feed youth who would otherwise be missing meals in the wake of the schools' closure over COVID-19 pandemic concerns. Lunchtime Solutions, the district's meal contractor, made 1,200 sack lunches for distribution Tuesday.
Mike Sullivan, assistant Storm Lake elementary principal, rings a triangle to draw attention while walking down a street in a northside neighborhood to give away lunches Tuesday, March 17, 2020, in Storm Lake, Iowa. The Storm Lake Community School District started free distribution of breakfasts and lunches Monday to anyone under 18 to help feed youth who would otherwise be missing meals in the wake of the schools' closure over COVID-19 pandemic concerns. Lunchtime Solutions, the district's meal contractor, made 1,200 sack lunches for distribution Tuesday.
Mike Sullivan, assistant Storm Lake elementary principal, left, and superintendent Stacey Cole, knock on a door at a home where children live while giving away lunches Tuesday, March 17, 2020, in Storm Lake, Iowa. The Storm Lake Community School District started free distribution of breakfasts and lunches Monday to anyone under 18 to help feed youth who would otherwise be missing meals in the wake of the schools' closure over COVID-19 pandemic concerns. Lunchtime Solutions, the district's meal contractor, made 1,200 sack lunches for distribution Tuesday.
Mike Sullivan, assistant Storm Lake elementary principal, left, and Kellie Anderson, principal of early childhood programs and special education director, right, stop a car carrying children to give them free lunches Tuesday, March 17, 2020, in Storm Lake, Iowa. The Storm Lake Community School District started free distribution of breakfasts and lunches Monday to anyone under 18 to help feed youth who would otherwise be missing meals in the wake of the schools' closure over COVID-19 pandemic concerns. Lunchtime Solutions, the district's meal contractor, made 1,200 sack lunches for distribution Tuesday.
Food service worker Ashley Keene passes bags of food through the window of a car driven by Erika Petersen Tuesday, March 17, 2020, at a drive-up lunch distribution at Storm Lake High School in Storm Lake, Iowa. The school district started free distribution of breakfasts and lunches Monday to anyone under 18 to help feed youth who would otherwise be missing meals in the wake of the schools' closure over COVID-19 pandemic concerns. Lunchtime Solutions, the district's meal contractor, made 1,200 sack lunches for distribution Tuesday.
Food service workers, from left, Ashley Keene, Barb Phillips, Amber Flores and Tina Hansen pass out lunches Tuesday, March 17, 2020, at a drive-up lunch distribution at Storm Lake High School in Storm Lake, Iowa. The school district started free distribution of breakfasts and lunches Monday to anyone under 18 to help feed youth who would otherwise be missing meals in the wake of the schools' closure over COVID-19 pandemic concerns. Lunchtime Solutions, the district's meal contractor, made 1,200 sack lunches for distribution Tuesday.
Storm Lake Community School District Superintendent Stacey Cole, waves to children walking down a street while passes out lunches Tuesday, March 17, 2020, in Storm Lake, Iowa. The school district started free distribution of breakfasts and lunches Monday to anyone under 18 to help feed youth who would otherwise be missing meals in the wake of the schools' closure over COVID-19 pandemic concerns. Lunchtime Solutions, the district's meal contractor, made 1,200 sack lunches for distribution Tuesday.
Food service worker Ashley Keene passes out a lunch Tuesday, March 17, 2020, at a drive-up lunch distribution at Storm Lake High School in Storm Lake, Iowa. The school district started free distribution of breakfasts and lunches Monday to anyone under 18 to help feed youth who would otherwise be missing meals in the wake of the schools' closure over COVID-19 pandemic concerns. Lunchtime Solutions, the district's meal contractor, made 1,200 sack lunches for distribution Tuesday.
Food service worker Tina Hansen keeps a tally of how many meals have been handed out Tuesday, March 17, 2020, at a drive-up lunch distribution at Storm Lake High School in Storm Lake, Iowa. The school district started free distribution of breakfasts and lunches Monday to anyone under 18 to help feed youth who would otherwise be missing meals in the wake of the schools' closure over COVID-19 pandemic concerns. Lunchtime Solutions, the district's meal contractor, made 1,200 sack lunches for distribution Tuesday.
Food service worker Ashley Keene hands bags of food to a motorist as she and Tina Hansen, left, and Barb Phillips work Tuesday, March 17, 2020, at a drive-up lunch distribution at Storm Lake High School in Storm Lake, Iowa. The school district started free distribution of breakfasts and lunches Monday to anyone under 18 to help feed youth who would otherwise be missing meals in the wake of the schools' closure over COVID-19 pandemic concerns. Lunchtime Solutions, the district's meal contractor, made 1,200 sack lunches for distribution Tuesday.
Mike Sullivan, assistant Storm Lake elementary principal, left facing camera, and Kellie Anderson, principal of early childhood programs and special education director, right, and superintendent Stacey Cole, far left, give away lunches in the middle of a Storm Lake street Tuesday, March 17, 2020, in Storm Lake, Iowa. The Storm Lake Community School District started free distribution of breakfasts and lunches Monday to anyone under 18 to help feed youth who would otherwise be missing meals in the wake of the schools' closure over COVID-19 pandemic concerns. Lunchtime Solutions, the district's meal contractor, made 1,200 sack lunches for distribution Tuesday.
Workers prepare lunches for distribution Tuesday, March 17, 2020, at Storm Lake High School in Storm Lake, Iowa. The Storm Lake Community School District started free distribution of breakfasts and lunches Monday to anyone under 18 to help feed youth who would otherwise be missing meals in the wake of the schools' closure over COVID-19 pandemic concerns. Lunchtime Solutions, the district's meal contractor, made 1,200 sack lunches for distribution Tuesday.
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