Question: According to MSN: Money, what are money mistakes you should never make after 60?
UK hits back after Trump calls ambassador a ‘pompous fool’ – Pg. 1
- Donald Trump was told to treat the UK with “respect” by British foreign secretary Jeremy Hunt, who lambasted the president for his “disrespectful and wrong” comments regarding Theresa May, the prime minister, and Kim Darroch, Britain’s ambassador to the US
- (Prof Note: I truly feel we are living in the middle of a 1980s Soap Opera. Bring back General Hospital!)
Jeffrey Epstein: Sex offender is private figure with famous friends – Pg. 4
- It also shines a light on his social contacts, including Donald Trump, Bill Clinton and the UK’s Prince Andrew
- Mr Epstein’s arrest threatens to heap embarrassment upon a gilded cast of friends and associates
- (Prof Note: Just in the past few days Admiral Bill Moran, who had been selected to be chief of Naval Operations, decided to “retire” due to an inappropriate relationship. Behaviour, ethics and morals are beginning to matter!)
Chinese streaming start-up files for US listing – Pg. 13
- DouYu International, the game-streaming start-up backed by Tencent, the Chinese tech group, has filed to raise up to $944m in an IP on Nasdaq despite clouds over the Chinese technology sector amid the trade war with the US
- DouYu has decided to go ahead with its IPO even though other high-profile Chinese tech companies have put their listings plans on hold as the US-China trade war chills investor sentiment
JPMorgan winds down Venezuela in bond indices – Pg. 19
- JPMorgan is all but removing Venezuelan debt from its widely followed emerging market bond benchmarks after US sanctions froze trading in the country’s securities, raising questions over what will happen with exchange traded funds that track its indices
- The move will reduce the EM bond indices’ average yields by almost half a percentage point as Venezuelan defaulted debts are trading at high yields. But the gradual scaled-back weighting could cause broader problems for ETFs and other passive index-tracking funds
- While in theory investors now have to sell down their positions, they will have to do so at a time when all US banks and asset managers are prohibited by sanctions from dealing with Venezuelan debt, and many European and Asian ones are also wary of getting involved
- …index-tracking funds that were forced to sell were “screwed” with active managers sitting “like vultures to pick the flesh off the bones of those passive people”
Answer: (1) Withdrawing social security too early; (2) Not signing up for Medicare on time; (3) Not budgeting for medicare expenses (Prof Note: It is estimated that couple aged 65 will need to spend $250,000 on medical expenses going forward); (4) Not having a long-term care plan (Prof Note: A private room in a nursing come can cost $10,000 – $15,000/mo); (5) Investing too aggressively or conservatively; (6) Overspending on adult children or grandchildren; (7) Letting your partner deal with all the finances