Retirement IRA investing
Posted: March 30, 2012 at 1:29 pm
I'm in my mid 60s and I'm rolling $1.5 million into an IRA. I'd like to create a portfolio of 60% stocks and 40% bonds using low-fee ETFs and mutual funds. Is this a good plan -- and which funds and ETFs would you suggest? -- Ollie F.
Your plan is spot on.
The real beauty of it is your focus on keeping investment expenses down, a strategy that has the potential to boost returns by limiting the portion of the your investment's gain siphoned off by the fund company.
Most people understand that lower costs and higher returns can help them amass more savings during a career, but I'm not sure people appreciate the benefit of that combination in retirement -- it can substantially reduce the danger of running through your savings too soon.
Let's say you plan to withdraw an initial 4%, or $60,000, from your $1.5 million at age 65 and then increase that amount for inflation each year. And let's further assume that your annual expenses run 1.5% a year, a ballpark figure for people who invest in mutual funds and the like.
Reducing your investing costs by half a percentage point to 1% a year can lower your probability of running through your savings before age 95 by roughly 25%.
Reduce your yearly investing expenses a full percentage point to 0.5% -- which is doable if you stick to ETFs and index funds with the lowest expense ratios -- and your chances of running through your dough within 30 years may decline almost by half.
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There's no guarantee that you'll be able to duplicate these results exactly. That's because even though lower-cost investments do generally lead to higher returns, you can't be certain of getting a full percentage point in extra gain for each percentage-point reduction in expenses. So your results will depend, among other things, on the return your investments earn net of fees.
But to whatever extent lower expenses boosts your returns, your savings are likely to last longer at any given withdrawal rate. And that's a big deal in retirement, when the last thing you want to do is run out of money before you run out of time.
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Retirement IRA investing
Be-Quest fwd_Spirit Science 1 – Thoughts.mp4 – Video
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London 2012 Olympics: Soft UK law will allow athletes to import anabolic steroids if they are for 'personal use'
Posted: at 1:29 pm
We are making a clear pitch for tougher sentences and urging the need for a universal sentencing policy, said Hugh Robertson, the Olympics minister. We would like to see at least four years, if not rather longer than that.
The ministers view supports that of the British Olympic Association but is at odds with that of UK Anti-Doping chief executive Andy Parkinson, who has personally advocated a softening of some sanctions.
Robertson said: That difference of opinion happens in sport. It is not helpful just before the London 2012 Olympics but I am not asking him to resign.
The ministers spokesman said that athletes arriving for the London Olympics would be able to bring into the country a quantity of steroids as long as it was for their personal use.
It is not a criminal offence for personal consumption for athletes in this country, but they will be dealt with under anti-doping law if they get caught with the drugs in their system, the spokesman said.
UKAD also confirmed that it would expect border control officers to tip them off so that targeted drugs testing could be carried out.
UK Anti-Doping has a two-way exchange of information with the border agency to ensure that information about athletes and support personnel can be used to identify trends and patterns and build up anti-doping rule violations, UKAD head of intelligence Gabriella Re said.
The International Olympic Committee says it will conduct 5,000 drug tests, of which 1,000 will be blood tests, throughout the London Olympics.
Road cyclist David Millar, 35, has confirmed he will not compete at London even if Wadas appeal to the Court of Arbitration for Sport to overturn the BOA life ban for drug cheats is successful.
Millar broke his collarbone last week but said the ongoing controversy of his EPO drugs record had taken away the joy of possibly competing at the Games.
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London 2012 Olympics: Soft UK law will allow athletes to import anabolic steroids if they are for 'personal use'
Personal best goals may help close achievement gaps for at-risk students
Posted: at 1:29 pm
Personal-best (PB) goals for at-risk children such as those with attention deficit hyperactive disorder (ADHD) may be one way of closing the achievement gap in schools, according to new research by Professor Andrew Martin from the Faculty of Education and Social Work at the University of Sydney.
The study, involving more than 3400 Australian high school students, showed the positive role of PB goals in ADHD students' achievement, homework completion, planning, and persistence. It also found PB goals were associated with lower levels of academic disengagement.
"In fact, not only did PB goals benefit ADHD students in achievement and engagement, but in many cases the benefits of PB goals were greater for them than for non-ADHD students," Professor Martin said.
"This is a significant finding because if the benefits of PB goals is greater for at-risk students, then PB goals may be one way to help close achievement gaps."
PB goal-setting involves focusing on your own progress and your own achievements more than focusing on the progress and achievement of other students. It also involves trying to do a bit more or a bit better than your previous efforts each time you tackle important schoolwork.
Professor Martin's paper, published in the recent issue of the international journal Contemporary Educational Psychology, is the first empirical study on PB goal setting to include children with ADHD. Whereas previous research had demonstrated its benefits for general student populations, this study showed that its benefits powerfully extended to at-risk students such as those with ADHD.
In the competitive context of today's classroom, students who struggle academically may be at particular risk of giving up due to difficulties competing as effectively as other students. This can be very demoralising. On the other hand, when students compete against their own prior efforts, success becomes personally defined - and accessible.
According to Professor Martin, "In early days, it may not be realistic for kids with ADHD and other academically at-risk groups to focus too much on outperforming others. However, if they pursue PB goals, and aim to beat their prior performance, this is a solid footing for academic growth."
"In fact, the many cases where PB goals had stronger positive effects for the students with ADHD, suggest PB goals be used as part of a broad intervention approach to help ADHD students catch up and potentially move ahead," Professor Martin said.
More generally for all students, the study further confirmed the importance of recognising individual academic growth alongside the comparative feedback that students usually receive.
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Personal best goals may help close achievement gaps for at-risk students
Cultivating Charisma: How Personal Magnetism Can Help (Or Hurt) You At Work
Posted: at 1:29 pm
As a socially inept teenager, Olivia Fox Cabane realized that she had two choices. Either confine myself to a desert island, or learn how to make this human thing work, she says. Cabane opted for the latter. Good thing. By age 24, the French-born author of The Charisma Myth: How Anyone Can Master the Art and Science of Personal Magnetism, published on March 29, had addressed the United Nations. The following year she was lecturing at Harvard and MIT, a precursor to her career as an executive coach and keynote speaker. A self-professed science nerd, Cabane came up with the idea for a book on charisma after realizing there was no single resource to help individuals cultivate it. We spoke with Cabane about why charisma is so critical to business and how Jedi mind tricks (not the hip-hop group) can help get you there.
FAST COMPANY: So what is the myth of charisma and where did it come from?
OLIVIA FOX CABANE: It came from the Greeks, who coined the word as gift of grace. They believed it was a divine gift. The myth is that charisma is not innate. What scientists have actually discovered--like many other myths they busted this one--is its actually a social skill, which like many others is learned. But this happens so early in life that by the time these charismatics get to adulthood, it all seems to be natural. And yet if, for example, you analyze the progression of Steve Jobs from 1984 to 2011 youll see he painstakingly learned it step by step.
So where did we get the idea that one needs to be outgoing and gregarious to be charismatic?
A few things. First, people dont realize that charisma is not monolithic. Theres no one form of charisma that is good or bad per se. Theres only the right form of charisma for the particular situation. Our Western culture glamorizes extroversion, and so the 50% of the population who are introverts feel defective and uncool. But you know what? Introversion is actually an asset for several forms of charisma.
For example?
For focus charisma, which creates a cocoon around people and gets them to share everything, introversion is actually a key, critical component because you need to completely focus your attention on a person and listen attentively.
What about the three other styles of charisma?
Theres authority charisma, which is the most powerful form of charisma. Its the one that will get people to listen and obey. However, authority charisma has several downsides, as do the others. With this one, though, it inhibits critical feedback and is a killer for brainstorming. Its not one Id recommend bringing into a company or to a team if you want them to be creative.
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Cultivating Charisma: How Personal Magnetism Can Help (Or Hurt) You At Work
Instant View: February personal spending posts largest gain in 7 months
Posted: at 1:29 pm
NEW YORK (Reuters) - Consumer spending in February increased by the most in seven months even as income rose modestly, which could prompt analysts to scale back expectations of a sharp pull back in economic growth this quarter.
COMMENTS:
BORIS SCHLOSSBERG, DIRECTOR OF FX RESEARCH, GFT, JERSEY CITY
"Personal spending was more robust than expected and that's very encouraging. The increase in spending ties in with better employment data. This data is positive for risk overall, with the euro, pound, and Australian dollar responding more."
WAYNE KAUFMAN, CHIEF MARKET ANALYST AT JOHN THOMAS FINANCIAL IN NEW YORK
"Personal spending was a little better than expected, which is good, but personal income was a little light. So long as the consumer is spending, that's the biggie everyone is watching as they drive the economy. The economy is on a decent trajectory, but maybe not as strong as some would like."
VIMOMBI NSHOM, ECONOMIST, IFR ECONOMICS, A UNIT OF THOMSON REUTERS
"Spending shot up by 0.8% in February, flying past income's growth of 0.2% and consensus. Market analysts understood that the general trend of spending growth outpacing income gains that took shape last year, but did not expect such an exaggerated difference as market forecasts averaged income to rise 0.4% with spending up 0.3%. February's numbers extend on January's performance where revisions show income rose 0.2% (had been 0.3%) and spending rose 0.4% (0.2%). Both the headline and the real figures (which show disposable income falling while spending rose by the largest amount since September) add concern over the extent to which the recent optimistic economic activity reported can continue without the basic building blocks to expand an economy -- income to support spending -- forming."
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STOCKS: U.S. stock index futures hold onto earlier gains.
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Instant View: February personal spending posts largest gain in 7 months
Great Falls Girl Scout's sales savvy brings sweet success
Posted: at 1:28 pm
A personal and a professional touch has been the mark of an outstanding cookie salesgirl this year.
Lexi Burcham, 9, sold 1,009 boxes of Girl Scout cookies to her neighbors and at businesses across town.
"I learned it's a lot of work, and you have to put all your effort into it or you won't get your goal," she said.
The Holy Spirit Catholic School fourth-grader was the top salesgirl last year in Girl Scout Troup 3126 when her sales numbered an impressive 521.
Nearly every extra minute of the two-week sales period was packed with cookie selling. Every day after school, she made sales visits. When on the road, she called potential customers.
She called ahead to ask for permission to sell in banks, stores, car dealerships, law offices and restaurants.
Lexi said she wasn't nervous about approaching people, but she did get better at interacting with customers as sales progressed. When they'd tease her, she could zing right back.
Learning to graciously accept rejection was part of the lesson, too. She learned not to take it personally.
If someone said no, "I'd say thank you, hang up and call someone else," she said.
Her mom, Ginger Burcham, said many times she's seen parents do the selling.
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Great Falls Girl Scout's sales savvy brings sweet success
Can Better Data End Global Poverty?
Posted: at 1:27 pm
A leading development economist speaks on the virtues and limitations of a data-driven approach to healing the world's most intractable problems
Reuters
Do free bed nets in some countries lead to more cases of malaria? Could anti-parasite pills raise school attendance in one country and have no effect in another? How cheap does preventative care have to be for low-income families to see the doctor?
There might not be a perfect way to answer these thorny questions on a country-by-country basis. But some leading scientists think the most rigorous answer comes from what they call "randomized controlled trials."
Esther Duflo is widely recognized as the world's leading advocate of randomized controlled trials in development economics. As a methodology, RCTs have been used for over a half-century in clinical medicine, where the effect of a drug or medical procedure is confirmed or denied in scientific experiments involving control and treatment groups. The use of RCTs to address global poverty is a phenomenon of the last decade, but it has caught on with the force of a paradigm shift in economics, public policy, and other disciplines.
Last year, Duflo* and her co-conspirator at J-PAL, Abhijit Banerjee, published a book called Poor Economics: A Radical Rehinking of the Way to Fight Global Poverty. The book overviews much of what they have learned through RCTs and otherwise, and it stakes a larger claim against "grand universal answers" and "sweeping conclusions" about poverty. Instead, they recommend a data-driven approach that seeks specific, targeted answers to what actually works, what works better, and what works cost-effectively.
Having been trained as a physicist and an engineer, I appreciate and support Duflo's scientific approach to fighting poverty. (Full disclosure: I'm on the board of Innovations for Poverty Action, a close J-PAL partner.) Yet, reading the book, two things repeatedly came to mind: First, the best science requires theory as much as experimentation. Data without good theory is only measurement, not knowledge, and powerful theory is often sweeping. Purely as a practical matter, theory helps to sustain us when we lack data. Second, Duflo and Banerjee seem uncomfortable with their own stance against grand answers. Most of the book's chapters conclude with sections that make general pronouncements about public health, education, microfinance, and entrepreneurship, often not entirely backed up by experiment. Their final chapter, titled "In Place of a Sweeping Conclusion," nevertheless offers five broad statements about poor people worldwide.
I asked Duflo some questions about RCTs and her book over e-mail...
KT: What do you think is the greatest contribution of RCTs so far in international development?
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Can Better Data End Global Poverty?
MMRGlobal Making It Happen to Report Sales Up, Gross Profit Up, Cost of Revenue Down as Heads Toward Meaningful Use in …
Posted: at 1:27 pm
LOS ANGELES, CA--(Marketwire -03/29/12)- MMRGlobal, Inc. (OTC.BB: MMRF.OB - News) ("MMR"), a leading provider of Personal Health Records (PHRs), MyEsafeDepositBox storage solutions and electronic document management and imaging systems for healthcare professionals, plans on filing its 2011 Annual Report on Form 10-K for the period ended December 31, 2011 with the U.S. Securities and Exchange Commission on Friday, March 30, 2012 after the close of market. The Company will report increased sales, reduced costs, reduced operating expenses, increased gross profits, and decreased losses. The filing will be followed by a conference call hosted by Bob Lorsch, Chief Executive Officer, and Ingrid Safranek, Chief Financial Officer, at 4:30 p.m. Eastern Time / 1:30 p.m. Pacific Time (details below).
Revenues for the year ended December 31, 2011 increased by 45.9% when compared to the year ended December 31, 2010 due to an increase in MMRPro sales, which were up 105%, and biotech licensing revenues, which were up 100%. The Company also saw revenue from investment by customers in private label website development for integration of the Company's proprietary patented Personal Health Record products and services, including Chartis Insurance and E-mail Frequency. E-mail Frequency has advised the Company that it plans on rolling out PHRs to as many as one million member clients in 2012.
Cost of revenue decreased by 8.2% for the year ended December 31, 2011 when compared to the year ended December 31, 2010. Gross profit increased to 161% for year ended December 31, 2011. The Company attributes a significant portion of the decrease in costs to the elimination of certain outside service providers, the development of an internal cost-savings platform and the creation of MMRGlobal Infocom, which now provides operating technology services and website integration and support internally. The cost of revenue decreased primarily due to changes in service providers hosting the Company's products and the formation of Infocom providing services in-house, and the development of the Company's own cost-savings platform(s). As a result, the Company's operating losses were down 51%.
"As a result of meaningful use requirements under the HITECH Act, the Company believes that 2012 is the year that healthcare professionals will seriously focus on how they will offer PHRs in response to criteria that would require at least 90% of all patients with medical records on an EMR to be provided timely access to a Personal Health Record by 2014," said Mr. Lorsch.
Over the past year, the Company has experienced continued success in licensing its portfolio of patents for both biotech and health information technology. It recently had three health IT patents issued, two entitled "Method and System for Providing Online Medical Records" and one entitled "Method and System for Providing Online Records." The Company began licensing its biotech patents in 2010 and has already received $850,000. It expects to receive additional milestone payments from biotech licensing this year and significantly larger milestone payments from biotech in 2014.
The MichaelBass Group, an investment banking and strategic advisory services firm (www.michaelbass.com), issued a special report January 20, 2012 discussing the value of the Company's HIT patents, citing the global market for Personal Health Records at $19 billion, and focusing on the patents issued, pending and owned by MyMedicalRecords, Inc. (http://michaelbass.com/PDF/JAN20MMRF.pdf)
As discussed above, revenues increased by $446,660, or 45.9%, to $1,419,648 for the year ended December 31, 2011 from $972,988 for the year ended December 31, 2010. The Company believes that the other revenues which include website development and PHR integration signal a continued long-term commitment to offer the Company' products and services. Our cost of revenue decreased to $609,212 for the year ended December 31, 2011 from $663,372 for the year ended December 31, 2010.
Gross Margin increased by 57.1% for the year ended December 31, 2011, as compared to 31.8% for the similar period in 2010. Cost of revenue as a percentage of sales decreased by 8.2% and operating expenses decreased 1.0% during the same period.
General and Administrative increased by $181,193 or 4.2% in 2011, as compared to the similar period in 2010, primarily due to higher consulting fees and a non-cash increase in MMRPro amortization expenses. Sales and marketing expenses decreased by $257,502 or 9.6% in 2011, as compared to the prior period in 2010, due to a decrease in the cost of radio and TV ads. Technology development expenses were essentially equivalent to those seen in 2010.
Losses were down 51% from the prior year. The Company lost $8,884,427 of which $2,845,222 was cash and $6,039,205 non-cash compared to total losses of $17.9 million in the previous year of which $4,212,300 was cash. Cash losses were down 32.5%.
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MMRGlobal Making It Happen to Report Sales Up, Gross Profit Up, Cost of Revenue Down as Heads Toward Meaningful Use in ...
Gov. Walker Praised for Ed Reform – Video
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Gov. Walker Praised for Ed Reform - Video