Word: marketization
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Dates: during 1990-1999
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There are, of course, risks to putting the bulk of your retirement money in the market, such as the chance that stocks will stay down for five years. But there are also risks in holding low-yielding bonds and cash--chiefly the risk that you'll outlive your money. Also, most bond prices would be hit by any revival of inflation. Sticking with stocks is a gamble that financial planner Satovsky says is worth it "if you want to live to 100 and not go broke...
Gene Cavanaugh, a 68-year-old Northern Californian, is adamant that he's got a lot of years left, which is his justification for keeping the half of his net worth that's not invested in Texas and California real estate in the stock market. A former software executive who dabbles in patent law, he has watched his retirement stock portfolio grow by an average annual return of 20% over the past 10 years. "I'm pretty dedicated to the idea of trying to get a surplus on my money," says Cavanaugh. "If I had money I wanted to salt...
...with enough money to afford the activities you most enjoy. You may not choose to spend your preretirement years toiling in the halls of academe, like Keller; or your retirement ones playing poolside bingo, like the Goldbergs; and, unlike Cavanaugh, you may decide the volatility of the stock market isn't for an aging heart...
...time when gas costs 93[cents] per gal., unemployment is almost invisible and the stock market is making people feel as if they've got more money in their pockets, whether or not they actually do, tax cuts are the only punch the Republicans know how to throw. Clinton, as a White House official put it, is "boxing them into a smaller corner." Congress Daily reported that at the House G.O.P.'s aptly termed retreat in Colonial Williamsburg, Joe Scarborough of Florida called a 10% tax cut, like the one favored by the party's Budget Committee chairman, John Kasich...
...your weekly tennis game in the Virginia suburbs. You are thinking perhaps about your spin serve, a wicked slice that moves left to right so fast that you have left some of Washington's biggest names tripping over their feet and cursing. Sure, you can leave the stock market wheezing with one word about higher interest rates, but...if only they could see what you can do to anyone foolish enough to line up inside against that serve! You are 72 years old, and your tennis game is still one of your great pleasures, and surely you have been looking...