Several years ago at a speech in New York, I warned that “a future President Clinton or McCain would face a daunting budget challenge from population aging.” My political forecast was off, but my economic and demographic forecast is unchanged.
February 2010 archive
I occasionally participate in webcasts, taking questions from Vanguard investors on various financial topics. Almost invariably, someone asks about reverse mortgages. Should they or shouldn’t they? How do they work? And are they legitimate?
Last question first: Yes, reverse mortgages are legitimate, and they seem to be gaining in popularity. But it’s clear that as with any financial decision, opting for a reverse mortgage requires some homework. You will want to understand not only the provisions and payment stream but also the upfront and continuing costs.
In recent weeks, stocks have sold off from their recent highs. It appears that the enthusiasm that drove equity markets higher since last March may have run its course.
I am a pack rat.
A long habit of cutting articles from newspapers and magazines has left me with several boxes of clippings, only some of which have been sorted into files. On a clean-up crusade, I’ve spent more than a few hours going through the pile, looking to pluck only a few particularly interesting needles from the haystack.
Anytime I forget something, I rationalize that what I’m really doing is clearing out space to allow new information to be stored in my brain. It’s a bit like cleaning off my desk or deleting cookies from my computer.