Retirees need an investment vehicle that provides security in the event that interest rates rise, writes Kermit Zieg Jr., professor emeritus of finance and investments at the Florida Institute of Technology. Zieg proposes government-created "retirement bonds," which would be available only to seniors at or above the Social Security retirement age. "Since the government constantly borrows money to fund deficits, and part of this borrowing is from the sale of 30-year Treasury bonds, retirement bonds would combine the government's need to borrow with retirees' needs for income and safety of principal," Zieg writes.

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