Paul Krugman’s blog

Paul Krugman, Economics Professor at Princeton, 2008 winner of the Nobel Prize in Economics, and Op-Ed columnist for the New York Times columnist, posts frequently to his informative and interesting blog, “The Conscience of a Liberal.”  Recent topics include posts about currency, John McCain, the financial bailout, Social Security, and Alan Greenspan.  He is currently working on an update to a new edition of his book, The Return of Depression Economics.

If you’re interested in more from Paul Krugman, Newton owns his book, The Conscience of a Liberal (as well as other books he has written), in both print and CD audio.

October meeting report

At our October meeting, the Club was on their own for an open discussion, moderated by our volunteer Liz.  We had some new members, some returning members, and lots of discussion about investing in a down market.  We talked about retirement goals members are working on, and handed out an outline for goals that members could work from.

Members discussed the future of the Club and topics they’d like to pursue, which included:  mutual funds, the various types of financial advisors and how they are paid, long-term care/health care, asset allocation, inflation/currency, and the use of examples or “cases” to show what happens with different retirement and investing choices.

We handed out copies of our Retirement Planning Club survey, for those who had not seen it.  If you haven’t responded yet, please
take the survey!

We have speakers for our next two meetings, and Club members will run the first two in 2009:

November 19:  John J. Twomey, Deputy Register and General Counsel from the Middlesex County Probate and Family Court Department will speak on the value of having wills and the problems that occur from dying intestate.

December 17:  Deb Bloomberg from the Federal Reserve Bank of Boston will present an interactive program on money, banking, credit and identity theft.

January 21:  Carole, one of our members, will give a presentation on mutual funds and how they are set up.

February 18:  The group will talk about stock investing and discuss how we each make our decisions:  how we get ideas, how we decide what to buy, and how to buy.

Panel discussion on the state of the economy and your portfolio

This Saturday, October 25th, a FREE forum is being held at Babson College titled “The Stock Market, The State of the Economy, and Your Portfolio: What Happened and What’s Next?”

The event runs from 2:00 – 4:00 p.m., and the panel includes Barry Armstrong and Scottie McCall of the WBIX-AM “Money Matters” radio show, Boston Herald Business Editor Frank Quaratiello, and Babson adjunct professor Peter Cohan.

Barry Armstrong will teach consumers how to save money in tough times, and point to some financial opportunities that exist in today’s economic climate.  Frank Quaratiello will speak to investors on what happened, and how it will affect residents in Massachusetts.

The event is free and open to the public.  Pre-registration is encouraged by calling 800-393-4001 or email forum@moneymattersradio.net

The event will be held at:

Sorenson Center for the Arts
Babson College
Park Manor South
Wellesley, MA 02457
2:00 – 4:00 p.m., Saturday, October 25, 2008

Selecting Investment Professionals

Members of the Retirement Club have asked how one chooses a financial professional.  FINRA’s website has a great section on the different types of financial professionals–who they are, who regulates them, and what they offer.  The page also has advice on how to check a professional’s background, and a list of questions to ask.

And what’s the difference between a CFA, CFA, and ChFP?  For more on professional designations, FINRA has a list explaining all those acronyms.

Worried about the market and your retirement?

You might be interested to read the testimony of Peter Orszag, Director of the Congressional Budget Office, before the Committee on Education and Labor of the U.S. House of Representatives, on October 7, 2008.  The short (6 pages, plus charts) paper is titled, “The Effects of Recent Turmoil in Financial Markets on Retirement Security.”

CD rate information

To compare CD rates in the U.S., see Bankrate.com, where you can search CD and money market products by yield or state/location.  The CD page includes articles, predictions, calculators, and other information.  Bankrate.com also has a useful retirement page, with articles on retirement and investing topics.  Their “Hot Retirement Spots” section provides summaries of difference locations, with information on tax rates, climate, and the cost of common goods and services.

Monday, October 6th – Free Financial Planning Hotline!

Massachusetts State Treasurer Tim Cahill’s Money Conference Team is pleased to join the Financial Planning Association of Massachusetts in celebrating Financial Planning Week – October 6-12, 2008, and invites you to call for a financial check-up through their Money Mentor Call-Line.*

Take some time to think about your financial future, write down your
questions, and call for some answers!

All Money Mentors are Certified Financial Planners who have volunteered to answer phone inquiries about personal financial matters. Many of these Money Mentors spent last Saturday, September 27th 2008 volunteering at Treasurer Cahill’s Money Conference for Women and Families, which had a record-breaking number of attendees.

Monday, October 6th 2008
9:00 AM – 1:00 PM
ONE DAY ONLY!

·   Did you miss the Money Conference on Saturday September 27th
2008?
·   Did you attend but did not get a chance to meet with one of the
Money Mentors?
·   Do you simply have a personal financial question that just can’t
wait until the next conference?

Money Mentor Call Line: 857-453-2600
Ask a Money Mentor!

Email Inquiries at: money mentors@tre.state.ma.us

To learn more about The Money Conferences, please go to
www.themoneyconference.com

*The information and resources provided during the Financial Awareness Week Phone Bank call-in are intended to provide general information only. It is not intended as a substitute for legal advice or individualized financial advice. In addition, the Office of the State Treasurer is not responsible for any information  rovided by the Money Mentors callers speak with. The Office of the State Treasurer and the Financial Education Division have no discretion to alter, update, or control the content of the information provided by any Money Mentor. The fact that the Financial Education Division and the Office of the State Treasurer has allowed an individual to share information to public callers is not an endorsement of the individual or of any of their businesses.

Warren Buffett on the economy

Charlie Rose had an hour-long interview with Warren Buffett yesterday, where he talked about the current economic problems and the Congressional bailout bill, in a very understandable manner.  Check it out!

Video
Transcript

Where to Retire?

U.S. News and World Report has some ideas in their September 29-October 6 cover story, America’s Best Healthy Places to Retire: 10 Top Spots for Enjoying Life, Leisure, and Recreation.  They didn’t choose Newton, but two nearby spots are on the list: Longmeadow, Mass. and Portland, Maine.  The report includes photo, video, and comments from readers who don’t always agree with the choices.

Also interesting is their Best Places to Retire page, which includes a search tool that allows you to enter your own retirement location priorities (region, weather, activities, housing costs, etc.), and then returns a list of suggested places, with links to more information.

And they have a blog, too!  Check out their Planning to Retire blog.