9 January 2019
Question: According to MSN: Money, what are fifteen (15) reasons you’ll go broke in retirement?
Duetsche’s dire year puts bankers at risk of double-digit bonus blow – Pg. 1
– …bonuses in some business areas were set to be down between 15% and 20%
– The bank will report preliminary 2018 results on February 1 and will disclose its final bonus pool on March 22, when it will publish its annual report
– Discouraged by dwindling pay and worried about senior management’s long-term commitment to the unit, a number of high-profile executives and managing directors have defected
Germany slowdown raises Eurozone fears – Pg. 2
– Industrial activity in Germany fell by 1.9% between October and November – the third straight month of decline – as sectors from consumer goods to energy weakened
– Germany’s GDP fell in the third quarter and a further fall in the fourth quarter would place the country in a technical recession, defined as two consecutive quarters of negative growth
– Germany generates about a third of all economic output in the Eurozone and the fall in industrial production in an economy that relies heavily on manufacturing bodes ill for the region
The ‘tuna bond’ scandal threatens to spell more trouble for Credit Suisse – Pg. 9
– When the US Department of Justice charged three former Credit Suisse bankers with fraud and overseas bribery, the allegations had a familiar ring
– It is the second time since November 1 that senior employees of a big global bank have been indicted for allegedly helping to rip off a developing nation
– Goldman itself has also been criminally charged by Malaysian prosecutors and it is still under US investigation
US federal shutdown leaves traders starved of key data – Pg. 19
– Essential or not, some of the agencies produce data vital to market participants – not only on wall Street but on Main Street
Answer: (1) You abandon stocks; (2) You invest too much in stocks; (3) You live too long; (4) You spend too much; (5) You rely on a single source of income; (6) You can’t work; (7) You get sick; (8) You tap the wrong retirement accounts; (9) You don’t consider state taxes; (10) You bankroll the kids; (11) You are underinsured; (12) You get scammed; (13) You borrowed from your retirement savings; (14) You have no emergency savings; (15) You are forced to declare bankruptcy