Unlike 99 percent of Tickers, this is being written two weeks before you read it. About to embark on a 10-day trip to South America in mid-February, I cleaned out the old briefcase and present today a column of hopefully helpful old articles, notes, quotes, scribbles, etc., relating to our workplaces.
A yellowed copy of a Nation's Business (April, l990) article, "Retired -- And Back At Work" says, "Retired executives are being coaxed back into the work force as consultants and short-term troubleshooters for companies large and small. These arrangements have pluses for both sides: retirees return to work without pressures of career building, and companies they join gain instant, priceless experience. The trend will grow. One recruiter says, "There are real bargains out there for smaller companies in search of seasoned help." To obtain a back copy of the issue, write Nation's Business, l6l5 H St., N.W., Washington, D.C. 20062 or phone 202-463-5877.
DUSTY FILES: A dog-eared note in my "Inflation" folder says, "If you retire today with an annual income at $50,000, you will need $133,000 a year, 25 years from now, just to maintain your present standard of living -- provided inflation only creeps ahead at 4 percent a year. After 25 years of four percent inflation, the dollar is worth only 38 cents." . . . A related note from the folder, "Investment Speeches: 1988" reads, "Retirees should not turn their backs on Wall Street despite the 508-point crash which drove the Dow Jones average down to l,763 on Oct. 19, 1987. Get this: if you had invested $1,000 in the S&P 500-stock average 40 years ago, you would now have $88,000 vs. that same dollar in U.S. government bonds would now be worth only $5,300 including the bonds' interest." For today's Dow Jones level, see "Market Watch" below.