Word: portfolios
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Dates: during 1990-1999
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...rate of return of 7% to 8% on investments, you should plan to be able to live off 4% of your assets, says Ray Russolillo, director of personal financial services with PricewaterhouseCoopers in New York. About a year before you retire, you may want to switch some of your portfolio to more conservative investments, says Paul Westbrook, a Ridgewood, N.J., financial planner. Total up your annual personal expenses--such as rent or mortgage, utilities, food, health insurance, clothes, car, entertainment--and plan to have liquid assets--such as Treasury bills and money-market mutual funds--available to cover three years...
Then get good help, but keep in mind that any outside expertise you seek doesn't come free. Depending upon the complexity of your portfolio, a basic financial plan will run between $500 and $3,000, according to NAPFA. If you want your assets managed on an ongoing basis, the financial planner will charge an additional 1% or so of the total assets. Many in the financial-planning industry consider fee-only planners, who do not receive commissions on investments they recommend, to be the most objective in their suggestions...
...economic czar in the '90s--mirrors China's stunning growth over the past two decades, his future looks as turbulent as the economy overall. Insiders say his position is secure for the time being, not least because nobody in his right mind would aspire to take over the economic portfolio now. But if the economy keeps worsening, Zhu's joke about building his own coffin could come back to haunt...
Diversifying the Portfolio...
Bill Clinton's portfolio is looking a little heavily exposed in the Mideast, but the President Tuesday kept on investing political capital in pursuit of a prestige-enhancing peace pact. But even if Clinton and Jordan's ailing King Hussein -- expected to arrive on Tuesday -- manage to coax the unenthusiastic partners to cut a deal, it's unlikely to provide a solution to the troubled region's conflict...