The chaos that comes with intermittent wind and solar get serious in summer, when demand surges, the sun sets and/or calm weather sets in. This summer, the barbecue stopper will literally be another round of what’s euphemistically called “demand management”: Soviet era power rationing, an integral part of Australia’s ludicrous attempt to run on sunshine […]
Decommissioning wind turbines is enormously difficult and hugely expensive. Natural gas plants have 30-40 year lifetimes; nuclear plants can operate for 60 years or more. Wind turbines last 15-20 years, and often far less for offshore leviathans. Off Virginia, salt corrosion is compounded by 50-80 foot storm waves and category 1-3 hurricanes. Maintenance and […]
It’s common for retirees to spend less than their working counterparts. After all, many seniors enter retirement mortgage-free, and they don’t have to contend with some of the expenses workers face, like commuting costs. But in many cases, spending less in retirement isn’t an active choice so much as a necessity resulting from not having enough income. And not having enough income in retirement often stems from not having planned appropriately for it — something 55% of seniors are bemoaning at present.
Where did today’s retirees go wrong According to a survey by Global Atlantic Financial Group, here are Americans’ top three retirement-planning regrets.
Not saving enough
An estimated 36% of retirees believe they didn’t save adequately for their golden years. A report by the Economic Policy Institute released a few years back found that the average baby boomer was entering retirement with a mere $163,577 socked away. At a 4% annual withdrawal rate, which financial experts have long recommended, that translates into just $6,543 of yearly income. Of course, many seniors have income outside of an IRA or 401(k), such as Social Security benefits, other investments, and even their homes (for those who can rent them out or use them to secure a reverse mortgage). Still, it certainly makes the case to enter retirement with far more than $163,000 and change.
The good news, however, is that annual IRA and 401(k) contribution limits are pretty generous these days, so if you’re willing to cut expenses in your budget to free up more cash to sock away, you can boost your savings tremendously. Beginning in 2019, workers under 50 can save up to $6,000 a year in an IRA and $19,000 a year in a 401(k). Those 50 and over, meanwhile, get a catch-up provision that increases these limits to $7,000 and $25,000, respectively.
Let’s say you’re 55 with just $50,000 saved in a 401(k), and your goal is to retire at 67. If you were to max out your 401(k) for the next 12 years at an average annual 7% return (doable if you invest heavily in stocks), you’d bring your total savings balance up to about $560,000. When we apply a 4% annual withdrawal rate to that sum, we get $22,400 in yearly retirement income. And that paints a much nicer picture. Relying
Relying too heavily on Social Security
Though Social Security is a crucial income source for millions of Americans, it was never designed to pay for retirement by itself. Yet 20% of those surveyed admit to having relied too heavily on Social Security.
If you’re still working, know this: Social Security will replace only about 40% of your pre-retirement income as an average earner (if you’re a higher earner, it will replace even less). Most seniors, however, need about double that amount to live comfortably, which means that you must save to make up that difference.
In our previous example, we ran through a catch-up scenario that required our hypothetical saver to max out a 401(k) for 12 years to retire with a decent-sized nest egg. If you’re already on the older side, you might need to do the same. If you’re younger, however, you can amass a nice amount of wealth through a steady stream of smaller contributions over time.
Not paying down debt before retirement
Unless you’re planning to work during your golden years, being retired means living on a fixed income. And the more debt payments you have to monopolize your limited funds, the more financial stress you’re apt to experience. It’s not surprising, then, that 12% of retirees wish they had knocked out their debt before leaving the workforce.
If you’re looking at retiring soon and are in debt, it pays to cut back on spending in the coming years and use your savings to chip away at your various balances. But be sure to start with your credit cards. Tempting as it may be to enter retirement mortgage-free, chances are you’re paying a lot higher interest on your credit card balances than you are on your home loan. Furthermore, while mortgage debt is considered the good kind that can help your credit (provided you’re on time with your payments), credit card debt can hurt your credit — which could be problematic should the need to borrow in retirement arise.
The last thing you want to do as a senior is look back on your working years with regret. Don’t let that happen. Save consistently, understand Social Security’s limitations, and get out of debt. Doing so could be the key to enjoying retirement to the fullest.
The $16,728 Social Security bonus most retirees completely overlook
If you’re like most Americans, you’re a few years (or more) behind on your retirement savings. But a handful of little-known “Social Security secrets” could help ensure a boost in your retirement income. For example: one easy trick could pay you as much as $16,728 more… each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we’re all after. Simply click.
Exporting Countries is seeking firmer ties with non-Opec suppliers regarding the management of oil output as the global market continues to see prices crashing that, in the Philippines, has sent pump prices down for eight straight weeks so far.
Opening the two-day 175th meeting of the Opec Conference —the group’s highest body— that kicked off Dec. 6, its president Suhail Mohamed Al Mazrouei said there had been “excellent collaboration” between Opec and non-Opec participants in the Declaration of Cooperation that they adopted in December 2016. This was based on an Opec statement posted on its website.
The unprecedented agreement forged among Opec and the 11 non-Opec producers, was for a concerted effort to stabilize the global oil market through voluntary production cuts of about 1.8 million barrels per day.
Initially effective for six months, the pact was extended twice to cover the whole of 2018, although the parties involved changed tack last June—which helped pave the way for the sudden drop in prices seen over the past two months.
Mazrouei, who is also the United Arab Emirates’ minister of energy and industry, said the agreement had been a success and shown “positive progress on removing the inventory overhang.”
But he said oil producers needed to focus joint efforts on maintaining the balance in global supply and demand that he said was achieved earlier this year.
“This will require us to change the strategy we took in June 2018,” Mazrouei said.
“It is essential that we look to move ahead with a more permanent relationship with our non-Opec producers, in order to continuously adapt to ongoing market dynamics, and to help meet the challenges, as well as opportunities, that we will face in the months and years ahead,” he said.
Preliminary reports show that in Thursday’s meeting, the joint committee of Opec and non-Opec ministers have recommended another round of production cuts.
However, as of this writing, Opec has yet to issue a statement regarding their next step.
Data show that the price of Dubai crude, the benchmark for shipments bound for Asian markets, dipped to $60.46 per barrel on Dec. 5 after hovering between $65 and $66 a barrel in the previous eight trading days.
In the Philippines, a downward run has seen pump prices fall down by a total of P10.55 per liter of diesel and P11.85 per liter of gasoline.
This week, a group of more than 200 middle and high school students got to see what they can achieve when they work hard and dream big in America.
Students at The Weiss School in Palm Beach Gardens, Florida, and students from six public high schools in Irvine, California, gathered around their respective computer monitors Monday to watch their hard work blastoff into space aboard a SpaceX Falcon 9 rocket from Vandenberg Air Force Base.
Along with 62 other commercial and government satellites from 17 countries, the rocket carried WeissSat-1 and IRVINE02 – two small satellites that the student groups had separately conceptualized, designed, built, programmed, and rigorously tested for three years. Both successfully deployed from the rocket’s second stage and are now orbiting our planet. These join a growing number of satellites built by young Americans (the first elementary school-built satellite launched into space in December 2015).
Stop for a moment to consider just how remarkable these achievements really are – and what they mean for the future of our country and humanity.
I remember science projects in middle and high school. They were miniature volcanoes that belched steam from dry ice – or in my case, assortments of fossils that I had meticulously collected and identified. Despite my enthrallment with space – and the many issues of Missiles and Rockets magazine I read as a young person – I never had the technical expertise, resources, or opportunity to actually design and build a satellite that could be put into orbit.
This achievement becomes even more amazing when you learn what these CubeSats will do. The Weiss School satellite is studying how and whether bacteria trapped in ice could potentially transfer to other planetary environments. The IRVINE02 CubeSat will capture images with a wide-field macro lens and beam data back to Earth via an optical laser downlink– which can send information much faster than traditional radio communications.
Not only have these projects pushed these students to learn things they never could have in a traditional classroom setting – their projects will no doubt provide the scientific community with very useful data. This project, which is a part of NASA’s CubeSat Launch Initiative, is the perfect example of a new way to approach education (so that it incentivizes learning and doing things rather than passing tests) and the way in which we can introduce and develop the people who will lead in the growing space economy.
As the mother of one of the students at The Weiss School told me, “it was a good day for our future.” She also correctly remarked that these are “exactly the kind of students who will be leading President Trump’s Space Force someday.”
In addition to these amazing accomplishments by the young rocket scientists of the future, the rocket scientists of today also had a tremendous achievement. SpaceX (working with a company called Spaceflight Industries that bought and organized the launch) broke four records on Monday.
SpaceX broke an American record for the number of satellites carried and deployed into space at one time. Elon Musk’s rocket company also surpassed its previous record for the number of launches in one year. So far in 2018, the company successfully completed the inaugural launch of its Falcon Heavy rocket and completed 18 Falcon 9 missions. Importantly, the company also successfully launched and returned the same booster rocket for a third time – and that booster became the first to fly from Kennedy Space Center, Cape Canaveral Air Force Station, and Vandenberg Air Force Base.
These records are important. As Vice President Mike Pence told Robert Costa at The Washington Post Space Summit on October 23, there is an “American aspiration that we are in a very real sense, a nation of pioneers. We’ve always, throughout our history been pushing the outer envelope. We’ve been pushing into the undiscovered country. I think the American people are excited to see us do that again.”
Monday was a tremendously important day for the students in Florida and California, the future of the commercial space economy, and our country. These students – and the teachers, scientists, and companies that enabled them to do this remarkable work – deserve tremendous congratulations..
Elon Musk is eyeing General Motors’ once-occupied plants. The billionaire tech mogul said it’s ‘possible that [Tesla] would be open’ to taking over automakers’ old plants, such as the five factories closed by GM last month. The comments came during Musk’s wide-ranging interview with CBS’ ’60 Minutes.’ Scroll down for video [embedded content] GM CEO Mary Barra announced in November that the car manufacturer would close five factories in North America and lay off some 14,700 workers as a result. Musk indicated that Tesla could potentially lo
Finding low-calorie foods that are filling can be somewhat challenging, as you may find yourself a bit hungry after munching on all those flavorless snack packs which claim to be under 100 calories or less.
However, selecting satiating foods that are low in calories (and are full of flavor) is more than possible, as expert dietitians suggest that there are plenty of foods available which will fill you up without going over your desired calorie amount. Of course, calories aren’t the sole indicator of a healthy food, but it can be a good place to start, and many low-calorie foods have other important benefits.
To bring these fulfilling foods to your radar, we asked some registered dietitians to break down all those low-calorie food options that will fill you up quick. Below are some of the food choices you’ll definitely want to write down next time you head for the fridge.
Add baby spinach to your plate.
2 Hearty foods such as roasted root vegetables are naturally rich in water, fiber, and nutrients, and are low in calorie density
Cruciferous vegetables such as broccoli, brussel sprouts, and cabbage are low in calories and can be very filling due to their high fiber content.
A new U.S. law creating a government corporation that would provide financial assistance to low or lower-middle-income countries could help with the Philippines’ infrastructure projects, the country’s envoy to Washington said Thursday.
Philippine Ambassador to the U.S. Babe Romualdez told CNN Philippines’ The Sourcethat the Better Utilization of Investment Leading to Development (BUILD) Act could pour in billions of dollars for infrastructure projects of the ten members of the Association of Southeast Asian Nations.
“They’re putting up billions of dollars to be able to help countries build their infrastructure, specifically in the technology part … for airports and many of our infrastructure,” he said.
U.S. President Donald Trump signed in October the BUILD Act creating the $60 billion United States International Development Finance Corporation (USIDFC) which consolidated the Overseas Private Investment Corporation with other development-finance programs.
Romualdez said Finance Secretary Carlos Dominguez and other economic managers plan to visit the U.S. in April to do a “roadshow” on the country’s infrastructure projects although he could not yet specifically say which ones could be funded by the USIDFC.
In a statement, the White House had said the BUILD Act showed Trump’s commitment to reform U.S. finance institutions “so that they better incentivize private sector investment in emerging economies and provide strong alternatives to state-directed initiatives that come with hidden strings attached.”
Many projects under the Duterte administration’s ambitious Build, Build, Build infrastructure program are funded by China — something which had caused concern among some opposition lawmakers. They warned that the Philippines could fall into a “debt trap” where it would be forced to give up critical infrastructure to China as payment for high-interest loans as what happened in other countries.
Proponents of the BUILD Act said that the law was the U.S. response to China’s lending to developing countries to finance their infrastructure projects.
The two countries have been embroiled in a trade war, where they impose tariffs on billions of dollars of goods imported from each other. However, they agreed to a 90-day truce during the G20 Summit in Argentina.
Crude prices began falling in October and continued to plunge last month due to oversupply and fears that weaker global economic growth would dampen energy demand. The price of both benchmark U.S. crude and the standard for internationally traded oil fell 22 percent in November.
On Monday, however, West Texas intermediate rose $2.02, or 4 percent, to settle at $52.95 a barrel, and Brent international crude climbed $2.23, or nearly 4 percent, to close at $61.69 a barrel in London.
Analysts attribute the turnaround to a truce in the escalating trade dispute between the United States and China. That has raised hopes that, with a cessation in further tit-for-tat tariffs, short-term economic growth and energy demand might be stronger than feared.
Also, the Alberta premier announced that the Canadian province will trim production by 8.7 percent because a shortage of pipeline capacity has caused a glut of Canadian crude. Canada is the largest source of oil imported by the U.S.
Finally, the small but wealthy Persian Gulf nation of Qatar said Monday that it will leave OPEC in January. Qatar has been feuding with Saudi Arabia and three other Arab nations that accuse it of financing terrorism.
President Donald Trump’s confidant Roger Stone is telling congressional committees that he would invoke his Fifth Amendment rights in order to not testify in response to requests for documents and testimony. Stone’s attorney Grant Smith rebuffed a request from the top Democrat on the Senate Judiciary Committee this week for documents and an interview connected…
Facebook will now freely allow developers to build competitors to its features upon its own platform. Today Facebook announced it will drop Platform Policy section 4.1 which stipulates “Add something unique to the community. Don’t replicate core functionality that Facebook already provides.” Facebook had previously enforced that policy selectively to hurt competitors that had used its…
Trump’s campaign manager Brad Parscale discusses how the campaign used social media to break through the firewall of MSM control. Additionally, Parscale confronts the reason why the approach is needed in an era where MSM gatekeepers attempt to manipulate the type of information. Within the interview Brad Parscale directly confronts the MSM gate-keeping mindset, […]
The one-word mantra that steers my thinking, and also the city-based Eater 38 maps upon which the list is modeled, is essential. Which places become indispensable to their neighborhoods, and eventually to their towns and whole regions? Which ones spur trends, or set standards for hospitality and leadership, or stir conversations around representation and inclusivity? Which restaurants, ultimately, become vital to how we understand ourselves, and others, at the table?
Every year, the list changes substantially; this time around, we welcome 17 newcomers. They’re the places where I had especially meaningful aha moments, where I thought, “Of course New Mexican cuisine should be lauded,” or “Absolutely this is the one Korean barbecue restaurant where everyone should eat,” or “It’s crazy how perfectly these Pakistani-Texan dishes summarize the heart of Houston dining.” The bleeding-edge vanguards among this crew include a Los Angeles maverick where the chef grafts cuisines from around the world with astounding grace, a San Antonio barbecue upstart ushering Mexican flavors to the forefront, and America’s most impactful Southern restaurant — which happens to be in Seattle.
This being the fifth of these roundups I’ve agonized over, I’ve also observed, over these years, a shifting national consciousness, where diners from many backgrounds increasingly embrace cuisines with which they were previously unfamiliar. It’s the new paradigm, not an exception. Coded culinary language denoting “them” and “us” — as “American” or “other” — is slowly but inexorably dissolving. Each of these restaurants cooks American food; I can’t imagine our dining landscape without them. Sure, they’re wonderful places to eat. But they all engender belonging, possibility, and connection — things we surely need in our country right now.
China’s state-run Global Times quoted Wang Yi, China’s foreign minister, as telling a G20 press conference: “China is willing to expand imports on the basis of its own needs, agrees to open its market and satisfy the legitimate concerns of the United States as part of the process of reform and opening up.” Mr Trump […]
https://ift.tt/2U3Tj13 December 2, 2018 SEOUL,South Korea’s incoming finance minister has said the economy was losing momentum and that any improvement in jobs and income distribution among households would be difficult to achieve in the near future. “Recently our economy’s overall growth momentum appears to be weakening, although indicators are mixed between sluggish […]
https://ift.tt/2FVh3Bz December 2, 2018 Cameron Smith edged Marc Leishman by two strokes in a see-saw final round to defend his Australian PGA Championship title on Sunday. Australian Smith, 25, made two bogeys in the first four holes as his three-shot overnight lead over compatriot Leishman evaporated but fought back brilliantly over the back […]
US Secretary of State Mike Pompeo says Tehran violated UN resolution with test of ballistic missile capable of carrying more than one warhead, warns of ‘risk of escalation in the region’ Iranians gather next to a replica of a medium-range ballistic missile during a demonstration outside the former US embassy in the Iranian capital Tehran […]
The United States and China reached a 90-day ceasefire in a trade dispute that has rattled financial markets and threatened world economic growth. The breakthrough came after a dinner meeting Saturday between President Donald Trump and Chinese leader Xi Jinping at the Group of 20 summit in Buenos Aires. President Trump…
via US, China reach 90-day ceasefire in trade dispute.
Too funny… this is what we would call a win/win. President Trump delivering remarks to the media aboard Air Force One on the flight back to the U.S. (Via Associated Press) President Donald Trump says he will shortly be providing formal notice to Congress that he will terminate the North American Free Trade Agreement, giving […]
Officials discuss holding further talks in Washington in December if deal is agreed — A ‘positive feel’ is expected when Presidents Xi Jinping and Donald Trump meet on Saturday, according to US trade representative Robert Lighthizer © AFP By James Politi in Buenos Aires and Tom Mitchell in Beijing Donald Trump said there were “good […]
The investigation centers on allegations that Germany’s biggest lender helped clients set up offshore companies in tax havens to “transfer money from criminal activities” to Deutsche Bank accounts, the Frankfurt prosecutor’s office said.
Some 170 police officers and investigators from the prosecutor’s office were searching 6 of the bank’s premises in and around the city, it added in a statement.
Deutsche Bank confirmed the raids and said it was “fully cooperating” with the authorities.