Nevin's Data "Points"

 Life has many lessons to teach us, some more painful than others—and some we’d just as soon be spared. But the graduates of 2021—well, they’ve been through a lot, arguably more than most—but with any luck at all, the days and years ahead will be brighter.  Regardless, if you have a graduate—or if you  are  a graduate, here are some insights I’ve picked up along the way…    ASAP is never as soon as people think. Even those who work for themselves have bosses (they’re called “clients”). Emails (generally) don’t have to be answered right this minute. Bad news doesn’t improve with age. Your first job can be like your first love—it will either bring a smile for years to come—or it can break your heart. And sometimes both.   Don’t expect your job to respect personal boundaries without some “help.” Don’t be afraid to pick up the phone. If the only time your boss hears from you is when there’s trouble, don’t be surprised if they don’t look forward to your visits.  Book

As if retirement savers didn’t have enough to worry about, last week a report reminded us how much money they’re going to need in retirement… just for health care. In fact, Fidelity Investments’ 20th annual Retiree Health Care Cost Estimate  claims that a 65-year-old, opposite-gender couple [i]  retiring this year can expect to spend a whopping $300,000 in health care and medical expenses throughout retirement—an 88% increase since 2002.  This year’s estimate is a new high, and even if it’s up just 1.7% from 2020 ($295,000), it’s 30% higher than 10 years ago when the amount was $230,000. What Are the Odds? Now, if you’re finding all that a bit depressing, you might turn instead to the work that the Employee Benefit Research Institute (EBRI) did a year ago , when the group examined those needs. However, they found that the overall projected savings needed to have a 90% chance of having enough money to pay for premiums, Part B deductibles  and  out-of-pocket drug expe

 When the Labor Department issued last month what it called “new guidance” that it further described as “the first time the department’s Employee Benefits Security Administration has issued cybersecurity guidance”—well, I, for one, was expecting… guidance.  However, rather than an advisory opinion, information letter or even a field assistance bulletin, it turned out instead to be three documents outlining what were termed “ best practices  for maintaining cybersecurity.” The issue of cybersecurity has, of course, loomed large in recent months, reportedly emerging as a focus in Labor Department audits  and as a point of contention [i]  in participant lawsuits. In fact, even the preamble to the final e-delivery regulations  stated a year ago that “…the Department expects that many plan administrators, or their service or investment providers, already have secure systems in place to protect covered individuals’ personal information.”  Now, in fairness, the Labor Departmen