Interest Rates Are Low Until You Do the Math

I often hear that interest rates are awful and that it’s the worst time ever for retirees needing to live on fixed income. Yet when you look at after-tax, inflation-adjusted returns, a different picture emerges. Many people smile when I tell them that back in 1980 they could have earned 12 percent on a 10-year U.S. Treasury or certificate of deposit (CD). Depositing $10,000 would have returned $1,200 a year. But if a third went to taxes, that gain would …

This Week in Boomer History: Peace Corps … Concorde … Greatest!

Noteworthy events from our shared experience Cassius Clay (later Muhammad Ali) becomes heavyweight champion of the world on Feb. 25, 1964, when Sonny Liston doesn’t answer the bell for the seventh round. “Incredibly, the loud-mouthed, bragging, insulting youngster had been telling the truth all along,” writes Robert Lipsyte in the New York Times. Steve Jobs is born Feb. 24, 1955. In 1976 he starts Apple Computer with Steve Wozniak and Ron Wayne, who sells his shares for $800 the same year. …