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From the Northeastern Section of the ACS, focusing on career management and development
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02/13/10
Watch-outs 18. Mature workers and investment tactics
Filed under: Mentoring, Mature professionals
Posted by: site admin @ 11:30 am

The professional and chemistry workforce
is changing.  Financial decisions need
to make sense now and in the future.  But
the laws and choices are constantly
changing.  We need to either pay attention
or pay someone to pay attention.

LOOKING FORWARD TO USING OUR IRAs
Source:  R. Powell, Roth-it-right, 2-12-10, p. B2
Current laws provide ways to preserve
your hard-earned savings for future years.
Five “big-picture” tips the author gives may
be useful this year as Roth accounts are
available to more people.  (I even suggested
my daughter and son consider conversions
from traditional.)  Do “what if” calculations
and don’t withhold taxes on the conversion
make a lot of sense.


UPCOMING POPULATION WAVE
Source:  Schumpeter, Silver Tsunami,
The Economist, 2-6-10, p. 74
Most companies and governments are
ill-prepared for the loss of scientific
and engineering skills due to aging
populations.  A third of US workers will
be over 50 in 2012.  A consideration for
our employment might be to see if there
is any preparation for this for all people
seeking positions.
Don’t wait till it is too late.
phased retirement, pools of semi-retired
professionals, and dealing with outdated
age-discrimination laws.

MATURE CHEMISTS INVESTING
Source:  K. Blumenthal, “Getting going:
Investors should act their age,” WSJ 2-13-10
p. B8

Mature chemists might follow a similar
trend of losing their investor’s edge when
approaching their 70s.  Studies reported
here suggest they make financial mistakes
as people in their 20s with less experience.

Before their mid-70s, consider four steps
to simplify and reduce the potential for
errors that can be avoided covered
nicely in the article by K. Blumenthal.

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