Given its measly size, Robert needs to carefully watch the Pierce Family retirement savings, which at this point is a collection of underfunded vehicles including 401Ks, Roth 401Ks, IRAs, SEP IRAs, Roth IRAs, and at least one 60's vintage sports car. 2011 turned out to be very unspectacular for the Pierces, as it was for most.
The 2011 YTD results are in. Here's the winners and the losers among the funds that Robert thinks he competes against.
Dow Jones Industrial Average: +5.53%
Pierce Family Retirement Savings: +1.7%
S&P 500: 0%
Vanguard Target Retirement Fund 2035: -4.35
IShares Russell 2000 Index (ETF): -5.82
Robert is glad to say that he does not compete against McDonald's Corporation, which closed up 30.71% for the year. Tough times are good for those with red hair and striped socks.
December 30, 2011
December 29, 2011
December 28, 2011
The Six Percent
http://cityroom.blogs.nytimes.com/2011/12/28/the-1-percent-thats-so-2011-its-the-6-percent-you-should-be-worried-about/?src=recg
The 1 Percent? That’s So 2011. It’s the 6 Percent You Should Be Worried About.
Here at City Room, we’ve had enough of people picking on the 1 percent. Sure, some might brand them greedy, but even in New York City, where, thanks to the financial-service industry, they are particularly well compensated, they receive only 33.8 percent of the total income, kindly leaving two-thirds for the rest of us.
We wondered: who were the selfish ones hogging most of the money? We asked the Independent Budget Office, which calculated the 1 percent’s take a few weeks ago.
And so it gives us great pleasure to introduce the class enemy for 2012: the 6 percent.
The top 6 percent of tax filers in New York City, the Independent Budget Office said, make off with 51 percent of the income.
Picture it: 100 people sitting around an enormous banquet table. The table is groaning with goodies, but six guests are helping themselves to more than half the food, leaving the other 94 to squabble over the leftovers.
The top 6 percent, the office said, comprises, approximately, all tax filers reporting income of more than $150,000. For the purpose of the calculation, a tax filer can mean someone filing an individual return or a couple filing jointly.
The 6 percent are everywhere. Just look around you.
We wondered: who were the selfish ones hogging most of the money? We asked the Independent Budget Office, which calculated the 1 percent’s take a few weeks ago.
And so it gives us great pleasure to introduce the class enemy for 2012: the 6 percent.
The top 6 percent of tax filers in New York City, the Independent Budget Office said, make off with 51 percent of the income.
Picture it: 100 people sitting around an enormous banquet table. The table is groaning with goodies, but six guests are helping themselves to more than half the food, leaving the other 94 to squabble over the leftovers.
The top 6 percent, the office said, comprises, approximately, all tax filers reporting income of more than $150,000. For the purpose of the calculation, a tax filer can mean someone filing an individual return or a couple filing jointly.
The 6 percent are everywhere. Just look around you.
December 27, 2011
Mexican Jewish Food
Recipes at bottom of article. If you come for tortilla soup at the Pierces, you might get some other treats as well . . .
http://www.npr.org/2011/12/25/144182296/jewish-and-mexican-cooking-meet-in-challa-pe-o?ft=1&f=100
http://www.npr.org/2011/12/25/144182296/jewish-and-mexican-cooking-meet-in-challa-pe-o?ft=1&f=100
December 21, 2011
December 13, 2011
December 10, 2011
December 7, 2011
School Tours
Robert and Mira took a tour of St Mark's School today. No comments other than to say that thinking about schools makes Robert's head hurt. He is starting to have the feeling that there is no point in thinking about it too hard.
http://www.saintmarksschool.org/
December 5, 2011
Federal Trade Commission v Facebook
Some half-wit lawyer making himself sound important.
http://softwarelawyer.blogspot.com/2011/12/facebook-settlement-with-ftc.html
http://softwarelawyer.blogspot.com/2011/12/facebook-settlement-with-ftc.html
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