Financial News Friday – May 17, 2013

Financial News Friday – May 17, 2013

How To See The World And ‘Arbitrage’ Your Retirement

“You can exploit price differences by earning money in some countries and spending it in others.” Arbitrage is basically buying something, say gold, in New York at $5 and immediately selling it in London at $6. The arbitrage profit is $1 because you made $1 by taking advantage of price discrepancies. This article discusses how retirees can arbitrage their savings by taking their Social Security and other retirement income that meets the higher cost of living from the United States and living in another country where the cost of living is cheaper.

Read The Article At Reuters


Will Insurance Cover Cancer Genetic Testing, Preventive Surgery?

Over the past few years genetic testing has come down drastically in price, which has naturally lead to more people considering procedures that screen for illnesses with genetic markers such as breast cancer. Testing for breast cancer typically costs $4,000, which will come out of your pocket, unless you’ve been deemed at “high risk” for breast cancer.  However, out-of-pocket costs are typically $100 for those that are deemed at “high risk” and undergo the testing.

Read The Article At Yahoo Finance


Gen X On Track To Be Worse Off Than Boomers In Retirement, Study Finds

Some excerpts, “Many younger Americans were already behind in saving for retirement, and suddenly millions of them were out of work or owned homes worth far less than they had been just a few years earlier,”

“Between 2007 and 2010, members of Gen X saw their median net worth sink 45% from $75,077 to $41,600. That’s compared to a drop of around 25% for both younger Baby Boomers and older Boomers, between the ages 58 and 67.”

Read The Summary At Yahoo Finance


Tax Scandal Fells IRS Chief

President Obama has forced the IRS Chief to resign after it was uncovered that the IRS targeted conservative political groups for audits during the last election cycle. Attorney General Eric Holder stated that IRS officials could also face criminal prosecution if they made any false statements to Congress about the matter.

Read The Article At Yahoo Finance


5 Lessons in Contentment from Billionaires Warren Buffett & Charlie Munger

Leo Babauta writes about 5 things he learned from Warren Buffet when he attended the Berkshire Hathaway Annual Shareholders Meeting in Omaha.  Lessons include finding what brings you happiness, ignoring the herd mentality, and knowing your strengths.

Read The Article At Zen Habits


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