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Retirement Boot Camp now begins

To spend or not to spend? Do we enjoy life to the fullest and accept what it costs, or do we save for retirement? We can try to build up those retirement coffers still further, but what if we get hit by a bus?

All that parsimony and grinding self-sacrifice might be for naught. Maybe there's a case for instant gratification and then letting the chips fall where they may when real retirement rolls around. On the other hand, if we create a self-imposed Retirement Boot Camp of sorts for at least some period, rigorous discipline for a few years may allow us to eventually have it all.

Banks not paying back AIG money

I saw the Johnny Depp movie "Public Enemy" about John Dillinger just days after learning that the average wage this year at Goldman Sachs will be $700,000. What made Dillinger a popular folk hero during the height of the Great Depression was that he robbed what people thought of as the culprit causing the nation's malaise.

Nobody today would think that robbing banks would be a good idea, but it sure makes sense to do a better job of controlling them until every speck of government money is repaid with interest.

Time to stand back and reassess

With the market falling off five percent after a thirty-seven percent surge, we ought to be wondering: "What's going on?" For the optimists, this is basically a bull market taking a breather. For pessimists, the rise of the last eight weeks was just another "dead cat bounce" of a market doomed to reflect lower corporate profits --- sooner or later.

Dividends, buy-backs key elements

Some readers tell me they sleep at the end of their driveways on Sunday nights so they don't waste a minute getting to my column early Monday morning. My friend, Mike Doyle, says that if he ever detects a hint of pessimism on my part, he wants to know as soon as possible so he can bail out of the markets and sell short to beat the crowd.

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