WSU Offering Workshop On Preretirement Planning
The Washington State University Extension Service is offering one program on pre-retirement planning and a second on money management, with Friday registration deadlines for both.
“Ready, Set, Retire” is a two-part workshop that will feature five speakers. Classes will be held in Room A of the County Agriculture Center at N222 Havana from 7 p.m. to 9 p.m.
On April 26, attorney Karen Sayre will explain estate-planning measures that can keep individuals financially secure through their retirement. Elfiede Massier, an extension specialist in gerontology, will discuss the physical and lifestyle changes that occur with aging and the retirement of a spouse.
May 3, Chris Carlson from the Washington Insurance Commissioner’s Office will cover health insurance issues. Joann Snyder, director of senior services for Catholic Family Services, will review housing options, and Tom Billadau from Spokane Neighborhood Action Programs will comment on alternations that can be made on homes to make them more accommodative to the elderly.
Cost of this program is $10 for individuals, $15 for couples.
The second program will train WSU Money Management Advisers. Participants receive 20 hours of free instruction in money-management skills in return for 40 hours of community volunteer work.
Call 533-2048 for more information and registration materials.
Index funds beat experts
During the first quarter, the Standard & Poor’s 500-stock index, a good proxy for the market, returned a boffo 9.6 percent. But only 168 mutual funds beat the S&P - out of 1,708 that Lipper Analytical Service tracks! Why such a dismal performance?
First, the experts aren’t so expert. Second, funds charge fees that cut into profits. In only five of the last 15 years have a majority of funds beaten the S&P.
Solutions? If you have the time and the inclination, be your own stockpicker; or buy index funds that mimic the market and charge low fees. Firms such as Fidelity, T. Rowe Price and Vanguard offer them.
IPO market cooling
The market for initial public offerings is cooling. That’s bad news for some venture capitalists but good news for most small investors, who typically can buy an IPO only after it hits the market and commonly bounces upward.
According to Securities Data Co., 87 deals valued at $3.8 billion came to market in the first quarter, down from 127 deals valued at $6.4 billion in ‘94’s fourth quarter. Based on the deals registered so far to go public in the second quarter - 57 valued at $4.1 billion - the first quarter was no fluke.
The market is long overdue for a rest. It’s been hot since 1991, the longest upward swing since Securities Data began tracking in 1970.
The last hot IPO market cycle 1986 and 1987 - was followed by three weak years, notes says Mark Basch, Securities Data’s research director.