In honor of its 10th birthday, Liquidnet, a company that manages big pots of money for institutional investors, asked several experts in their investment sector to weigh in on the next 10 years of investing. Here are a couple of their thoughts that those of us looking hard at retirement might want to consider.
Robert L.D. Colby, partner in the law firm Davis Polk, which specializes in the legal issues affecting large investors, predicted something that might be comforting to anyone embarking on retirement planning process without access to an old-fashioned pension. He said:
"In the coming decade, the importance of financial markets for the retirement savings of millions of pensionless people will bring far greater scrutiny from lawmakers and regulators. Intermediaries' conduct will be subject to rigorous standards of care. Disclosures to investors will be made clear. Market structure flaws will be ironed out. And asset management vehicles will need to increase performance or reduce fees."
I also liked the prediction from Ken Fisher, founder and CEO of Fisher Investments and a well-known author. He said optimistically:
"By 2021, with natural gas at $2/mcf and global GDP at $115 trillion most everyone will be pleasantly surprised at how well most things have worked out. But the biggest surprise will be that U.S. life expectancy will have increased another three years on average, putting further pressure on pensions. On the other hand, Bob Dylan, the Rolling Stones and Cher will still be touring."
I thought about that awhile and decided that when it comes to retirement, the Rolling Stones still have it right: "You can't always get what you want. ... but if you try sometimes, you might find you get what you need."