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March 2, 2010 Tuesday 5:03 PM EST
SECTION: PERSONAL FINANCE; Personal Finance Daily
LENGTH: 1470 words
HEADLINE: The retirement advice we need doesn’t really exist
Don’t miss these top stories:
Does your company offer you access to advice on how to invest for retirement? If so, the type of help being offered may change under rules proposed by the Labor Department, which aims to eradicate the conflicts of interest that may lead an investment adviser to encourage you to invest in products off of which that adviser will make money.
You might be able to guess who doesn’t like the proposed rules.
Read Robert Powell’s column today for more on the debate now roiling the financial-services industry, and how the end result may affect not only 401(k) savers, but IRA owners, too. Note: The government is seeking your comments on the rules.
When it comes to retirement, really the only advice we all need is how to make a small amount of money grow really, really big without any risk. Wouldn’t that be nice?
— , Personal Finance editor
Financial advisers split on whether proposed 401(k), IRA rules help or hurt investors
If the U.S. Labor Department has its way, the rules governing who can give Americans investment advice about their 401(k)s and IRAs, and how that advice gets delivered and paid for, soon will change. But financial advisers and others disagree dramatically on whether the proposed rules will help or harm investors.
Using annuities to build a nest egg
Investors have long been wary of annuities, but a new type of product in 401(k) plans can turn a nest egg into a stream of income payments. WSJ’s Tom Lauricella tells Kelsey Hubbard why investors should take a look.
From Buffett to Obama, the problem that won’t go away
It’s only Tuesday, and already Anthem Blue Cross of California is getting sued, Warren Buffett has weighed in on back-breaking health-care costs and President Obama’s own health habits are under scrutiny at the same time he’s trying to woo Republicans.
What the heck is reconciliation?
It’s becoming more likely that Democrats on Capitol Hill will try to pass their comprehensive health-care bill without any Republican votes, using a legislative tool known as reconciliation.
Obama ‘exploring’ Republican health-care ideas but reconciliation likely
President Barack Obama on Tuesday said he’s “exploring” Republican ideas for health-care reform, even as he was expected to call on Congress to pass a Democratic bill using a tactic decried by Republicans.
Plan to blow your tax refund? Join the club
Do you plan to blow your tax refund this year on TVs and furniture? More Americans say — Yes! Domino’s carves up higher sales. Credit report ads will soon change. And Caribou Coffee gets philosophical on its napkins and cups. Join John Wordock and Ann Cates and get money news on the go.
Frugal is the new normal
Americans are saving more and paying off debt, but will it last? Head of Schwab Advisor Services Bernie Clark explains.
Don’t sell yourself short on the job market
Adrienne Mitchell says job seekers should explain how prior duties match up with the job you want.
The art of online networking
A short seminar with the editors of FINS from The Wall Street Journal designed to improve your online networking skills.
The top five ways to impress recruiters
FINS from The Wall Street Journal editors discuss effective ways to get noticed by recruiters.
ECONOMY & POLITICS
Jobless-benefits bill again blocked as lone senator objects
A bill that would extend unemployment benefits and highway spending was again held up in the Senate on Tuesday, even as benefits expired and transportation projects were suspended.
Commentary: Economy is running empty
The fledgling economic recovery appears to be running out of gas. The fuel for this or any other recovery has to come from the consumer. Purchases of goods and services by people like you and me account for about 70% of gross domestic product, so without our help a recovery could not last too long.
AIG takes big step toward repaying taxpayers
American International Group Inc. took its biggest step yet on Monday toward repaying money it got from the U.S. government’s massive bailout of the insurance giant.
Tea Party movement’s risks for Republicans
Though the Tea Party movement stands to benefit Republicans in the short run, in the long term it could cause discomfort on some key issues such as the handling of the War on Terror and immigration, WSJ’s Jerry Seib says.
Japan unemployment rate eases in January
Japan’s unemployment rate fell sequentially to a better-than-expected 4.9% in January, according to government data published Tuesday.
Unlikely allies in landmark Supreme Court gun case
A gun-control case before the Supreme Court has created some unlikely alliances between liberals and conservatives, over whether states can limit the second amendment right of individuals to bear arms.
REFORMING THE FINANCIAL SYSTEM
Dodd, Corker in talks to put consumer protection agency under Fed’s wing
Senate Banking Committee Chairman Christopher Dodd is considering a proposal offered by a key Republican to set up a new consumer protection division within the Federal Reserve, according to people familiar with the discussions.
Commentary: Why consumers need protection from banks
Consumer protection is at or close to the heart of the financial services reform bill being hammered out in Congress. But will a new agency address the problems consumers face when they deal with banks?
Commentary: How health care sent financial reform to the death panel
Barack Obama surfed into office on a wave of financial panic. A year later, he’s ended up dry but the rest of us are still looking for a life preserver. So, what happened?
Regulation dÃ©jÃ vu on Wall Street
The SEC enacts a new rule limiting short-selling, after finding an even stricter version ineffective in 2007. Money and Investing Deputy Editor Dennis Berman and Mean Street columnist Evan Newmark discuss the shift.
GM recalls 1.3 million compact cars over steering
General Motors Co. joined troubled rival Toyota Motor Corp. with some quality issues of its own on Tuesday. The Detroit-based automotive giant recalled 1.3 million compact cars sold in North America over the past five years due to problems with power-steering functions.
Data show Camry cars not recalled also had problems
Many of Toyota Motor Corp.’s Camry cars built before 2007, which weren’t subject to recalls, have been linked to a comparable number of speed-control problems as recalled Camrys, the New York Times reports on its Web site Tuesday, citing an analysis of government documents.
Beep! Time to take your medicine
A new pill-container top called a “GlowCap” is equipped with a wireless transmitter that notifies patients when it’s time to take their medicine. WSJ’s Anna Mathews explains how it works.
Apple sues maker of Google phone
Nick Wingfield, Peter Kafka and Stacey Delo discuss Apple’s suit against HTC which makes several Google Inc.-based smart phones, saying the cellphone maker is infringing on 20 patents related to its popular iPhone.
Laptop makers target business users with new designs
Hewlett-Packard’s business computers looked so drab and dull about five years ago that Todd Bradley, then newly-named head of the company’s PC group, compared them to Soviet tanks.
Whole-life insurance, long derided, gets new lease
If you haven’t already, you are likely to hear the pitch soon: Whole-life insurance — the fuddy-duddy stuff your grandparents owned — was a shining star during the financial crisis.
After long decline, dividends on the rise again
After 2009 saw companies slashing or eliminating dividend payouts left and right, many American firms are beginning to cautiously reinstate — or even raise — theirs in this period of assumed recovery.
Country debt may no longer be guarantee for investors: Pimco’s Gross
Bill Gross, manager of the world’s largest mutual fund, believes the debt of some nations may in the future be no better than private debt issued by corporations.
Eight reasons Wall Street loses another 20% this decade
Remember Charlie Ellis’ famous 1975 classic: “Winning the Loser’s Game: Timeless Strategies for Successful Investing?” Like Napoleon Hill’s “Think & Grow Rich,” everyone on Wall Street has read it.
Commentary: Gold timers increasingly see glass half full
Contrarian analysis continues to suggest that gold will face stiff headwinds in coming weeks. This is the same conclusion I reached one month ago, when I last devoted a column to gold market sentiment.
Blue-chip U.S. stocks and emerging markets are analyst’s favorites
Steve Goldberg of Tweddell Goldberg Investment Management says investors should be eyeing blue-chip bargains and emerging markets, and buying mutual funds with solid long-term results and stable management to get the job done.
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