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Getting Personal
Getting Personal
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About the author
Christopher Farrell is economics editor of Marketplace Money, a nationally syndicated one-hour weekly personal finance show produced by American Public Media.
Response to Vivian, Tallarico and Debby...
I appreciate your desire to read the text of the Getting Personal segment. We wish could provide it to you but we currently do not have the resources for someone to transcribe it on a consistent basis.
Personal finance questions for Chris Farrell should be posted via the Getting Personal blog. Click on the "Ask a Question" link. ... thanks.
Bob Brinker occasionally mentions a shadow account. The idea is that if, say, the govt. retirement fund is giving you $10,000 per year, then you can think of it as though they have $200,000 to cover that amount at 5% interest per year. You can then figure your net worth is actually $200,000 more than your actual money holdings (stock and bond market, savings, etc.)
He then gives a rule of thumb for investment that you should be invested 100 years - your age as a percentage in the stock market. That is, if you are 60, then you should be 40% in the market.
My question is do I really add the $200,000 to my figuring if I want to decide how much money I should actually have in the market? If not, I'm not sure what good the idea is to me.
On air, you invite listeners to send their questions. Not sure this is correct place on the web site to do so (Your web site needs more clarity), but here goes: I'm 66, married, in the $125K tax bracket, and doing some construction on our home, for which we need money. (No equity in home to use because it is a new purchase.) Would we be better off just withdrawing $100K from a TIAA-CREF account to pay for the work, or doing a mortgage and then converting enough TIAA-CREF funds into an annunity to pay the mortgage?
I am frustrated with this story. I want to read it online and that is not an option. I don't want to print it, listen to it, email or share it. That is true for any other story that i can't read through this email from Marketplace. It is one of my favorite programs, but I don't always get a chanced to hear it on the radio. Once I am at the computer, I would be happy to read it,a but for some reason not listen to it--I think that is because I have to sit still and not be able to move around as I do when I am listening to the radio. Ipod not an option. Respectfully submitted, VE
