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Diversity is still king for portfolio protection

Safety and security for retired investors have been overrated, and we need to think differently about these concepts and about diversification.

Safety and security for retired investors have been overrated, and we need to think differently about these concepts and about diversification.
Over the last year, we saw highly rated bonds collapse in value, money market funds come under pressure, yield enhanced funds tank, auction rate securiti

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New benchmarks for retirement income management

With retirement income management becoming the primary objective of many investors, it's time for new investment benchmarks which reflect that. For decades, investors have been using the S&P 500 or the Dow Jones Industrial Average as defaults for investment performance. But constructing portfolios that track those benchmarks is of little value for investors who must live off the returns on their portfolios.

Do we still need ERISA? Only if we want to shortchange savers

With the technological advancements in money management platforms and payroll systems, one has to wonder whether the costs associated with ERISA compliance could be removed from the retirement plan system. If we could safely remove those costs, it's likely we could help employees accumulate between 20% and 30% more money for retirement. So it's worth considering.

To annuitize or not: The debate continues

In my last column, I provided an analysis of the income guarantees from a life-only, immediate annuity versus the likelihood of running out of money if you kept your retirement savings invested in the markets. I received a lot of comments on that column, and I thought I'd respond to several of them.