Roger W. Ferguson,CEO of pension fund manager TIAA-CREF,has a number of bullet points on his mind for investors.With regard to financial reforms,there needs to be:
1.More emphasis on risk
2.More emphasis on liquidity
3.Capital,capital,capital
4.Dedication to serving the consumers.
As for retirement,investors should:
1.Start saving earlier,setting aside 10-14% of income for a safe nest egg
2.Have a good,diversified portfolio that reflects their risk appetites,selected from 10-20 options
3.Seek out objective advice from non-commission advisors
4.Realize that with living for 20-30 years in retirement,you will need guaranteed income in the form of an annuity.
TIAA-CREF is regarded as one of the most painstaking money managers active in the market today.CEO Roger W. Ferguson was Vice-Chairman of the Federal Reserve from 1999-2006.
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