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Cenovus Energy Inc Plunges After Announcing CEO Retirement And New 5-Year Plan

Cenovus Energy Inc Plunges After Announcing CEO Retirement and New 5-Year Plan

Cenovus Energy Inc Plunges After Announcing CEO Retirement and New 5-Year Plan. What happened Shares of Cenovus Energy (NYSE:CVE) sold off on Tuesday, falling more than 10% by 10:45 a.m. EDT. Fueling the latest drop was the announcement that CEO Brian Ferguson will retire later this year, as well as an update on the company's growth plans amid the fallout of a decision to buy several oil and gas properties from ConocoPhillips (NYSE:COP). Initially, Cenovus Energy planned to sell 1.8 billion Canadian dollars' ($1.36 billion) worth of assets to help offset the cost. The company plans to drive that growth by increasing production at a 6% compound annual rate, primarily by expanding output from its oil sands assets and the Deep Basin gas assets it bought from ConocoPhillips. That said, with crude currently below $45 per barrel, investors think that the company is overestimating its growth potential in the current market. Now what The market continues to punish Cenovus Energy for its decision to buy several of ConocoPhillips' oil and gas properties in Canada because it stretched its balance sheet way too thin. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. That's right -- they think these 10 stocks are even better buys. You can't go back and buy Amazon 20 years ago…but we've uncovered what our analysts think is the next-best thing: A special stock with mind-boggling growth potential.
Our Retirement Investment Drawdown Strategy

Our Retirement Investment Drawdown Strategy

Our Retirement Investment Drawdown Strategy. We have 56% of our retirement money in Before-Tax accounts, which will be a tax management challenge in retirement (you’ll see details on our strategy for minimizing taxes in the detailed strategy below). Below is a summary of the types of funds best suited to various tax accounts: Delay The Pension One of the biggest decisions we have to make prior to our retirement date is when we’ll start our pension. Interesting analysis, glad I have some time before I have to finalize our pension start date decision. Tax Optimize IRA conversions into A Roth If we defer our pension, it also means our income will be zero during the deferral period. If we have a good year, the $12k will roll over to the next year, an additional $12k will be added in January, and the Reserve will begin to grow. Our Retirement Investment Drawdown Strategy. The concept is this: The Chain will be built through the words and backlinks of blogs written by anyone in the network of Personal Finance bloggers who have decided to write a post on their personal drawdown strategy. Here’s how to join the chain: 1) Write A Post on Your Drawdown Strategy. All of the links in the chain, coming together, see how that works?).
Social Security Will Do This For The First Time In 39 Years In 2020

Social Security Will Do This for the First Time in 39 Years in 2020

Social Security Will Do This for the First Time in 39 Years in 2020. For many retired Americans, Social Security is a critical source of income. The 1983 amendments included an acceleration of payroll tax increases, which generated more money for the program, the introduction of taxation on Social Security benefits if individuals and couples filing jointly earn more than $25,000 and $32,000, respectively, and a gradual increase in the full retirement age. But according to the 2016 Social Security Trustees annual report, the program will begin paying out more in benefits than it's generating in revenue by 2020. Over the past four years, the net increase in asset reserves at the end of the year has shrunk to a range of $23 billion to $35 billion following more than a decade of more than at least $107 billion net increases in the annual reserve. The issue is that Republicans and Democrats both have workable solutions, so neither party is willing to back down. By 2022, the full retirement age will have risen to 67 years, albeit it will have moved higher by just two years over the previous four decades. Republicans would like to see a gradual increase in the full retirement age to 68, 69, or 70, which would coerce seniors to either wait longer to receive their full benefit or to retire earlier and accept a steeper permanent deduction in benefits (benefits increase by an average of 8% per year, beginning at age 62 and ending at age 70). Right now, earned income between $0.01 and $127,200 is taxed at the aforementioned 12.4% rate, while earned income above and beyond this point isn't subject to Social Security's payroll tax. Since eliminating the cap entirely would only impact about 10% of all workers, and a majority of workers are already paying tax on every cent they earn, it's among the most popular solutions with the public.
Opinion: Here’s A Way To Get Retirees To Spend Their Savings Responsibly

Opinion: Here’s a way to get retirees to spend their savings responsibly

Opinion: Here’s a way to get retirees to spend their savings responsibly. Getty Images Employers, academics, and policymakers all recognize that drawdown is the major challenge facing the 401(k) system. First, people form an unnatural attachment to their pile of assets, which they have spent a lifetime accumulating. Second, people are fearful of end-of-life health and long-term care expenses. Third, many people want to leave a bequest to ensure their immortality. Under this arrangement, a fund will allow participants, say, age 50 or older to invest a portion of their assets in deferred annuity accounts. When the fund reaches its target date, it will dissolve, participants will receive an annuity certificate providing for immediate or deferred annuity payments, and the remaining portion of the participant’s investment would need to be reinvested, either by the participant or a plan fiduciary, in other alternatives. Specifically, it stated that, if certain criteria were met, a series of target date funds that include deferred annuities among their assets would be treated as a single benefit and therefore should not raise plan qualification concerns. In addition to how a TDF series may satisfy Internal Revenue Code nondiscrimination requirements, Treasury asked for DOL views on these TDF/deferred annuity structures. •The DOL said that the annuity selection safe harbor (2008 Safe Harbor) applicable to defined contribution plans establishes a means for plan fiduciaries to satisfy responsibilities under the Employee Retirement Income Security Act of 1974 (ERISA) regarding annuity selection.