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News Flash

Americans Still Committed To Investing, AARP Finds

Without divulging the figure, AARP said "many" Americans it surveyed are still committed to saving and investing for retirement. Most respondents said that they believe the current market turmoil has slowed their retirement progress, but will not halt it.

Conversely, one-third said they don't ever expect to have enough saved to be able to leave the workforce, and 70% believe no one is looking out for the average investor.

"Clearly, everyone's situation is different, but overall, we believe now is the time to remain focused on the long-term and not use the current economic uncertainty and market volatility as an excuse to delay saving, investing or planning for retirement," said AARP Financial President Richard "Mac" Hisey.

AARP stresses that investors should remain committed to saving for retirement, regardless of short-term changes in the market.

Phased Retirement Can Benefit Baby Boomers, Employers Alike: Deloitte

Companies can reduce labor costs and retain key talent for continued smooth operations by considering phased retirement, Deloitte recommends. And for workers, it protects their retirement income for a longer period of time.

"The potential benefits for a business are even greater," Deloitte said. "Phased retirement allows you to reduce your labor costs without undermining morale and productivity. Best of all, it lets you hold onto your most experienced workers so they can share their knowledge with others, and provides ready source of talent for when the economy recovers."

778 Hedge Funds Closed In Fourth Quarter of 2008

Fifteen percent, or 778 hedge funds, closed in the final quarter of 2008, directly due to the financial markets meltdown, according to Hedge Fund Research. That topped the previous record for quarterly closings, which occurred in the third quarter of 2008 when 344 hedge funds shut down.

For the entire year, 1,471 hedge funds closed, 15% of the universe, leaving a remaining 9,284 funds.

For the entire year, 659 hedge funds opened, 56 of them in the final quarter.

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