Word: russolillo
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Then do the numbers carefully. Assuming a conservative 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...
Ominously, the kind of civil disobedience that has taken root in Turin is beginning to spread all across northern Italy. In Milan, protesters are refusing to pay increases in rents, bus fares and schoolbook charges. In nearby Monza last week, Pietro Russolillo, a 50-year-old schoolteacher, dramatically drove up to the police station to turn himself in for not paying the una tantum, or onetime surtax that the Rumor government imposed on 12 million cars. "I am ready to pay ten times the amount," declared Russolillo with a flourish, "but first you must persuade me that the money will...
...police announced that they would move against Russolillo "immediately." Because of the snail's pace of Italian justice, however, by the time Russolillo pays the $240 fine, inflation will have made it no worse than the $50 una tantum he owes...
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