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Bernanke’s wealth takes a hit

By Judy Martel · Bankrate.com
Tuesday, July 19, 2011
Posted: 3 pm ET

The stock market's rise hasn't been a boon for everyone. An article in InvestmentNews says Federal Reserve Board Chairman Ben Bernanke's assets may have declined in 2010, even as the stock market rose.

Federal Reserve Chairman Ben Bernanke

According to numbers released by the Fed, Bernanke had between $1.06 million and $2.31 million in 2010, mostly invested in two retirement accounts. That's down from the $1.15 million to $2.58 million reported the year before. In 2010, the S&P rose nearly 13 percent and the Dow Jones Industrial Average increased by 11 percent.

Bernanke has been in charge of the Fed during the worst economic crisis since the Great Depression and has lowered the benchmark interest rate to near zero. He began his second four-year term in 2010, earning an annual salary of $199,700. As a former Princeton professor, he earns an additional amount from textbook royalties -- reported at between $150,000 and $1.1 million in 2010.

It's disheartening when your investments decline as the market rises, but you shouldn't necessarily use the stock market as a financial benchmark, especially when planning for retirement. The volatility from one day to the next is enough to send you reeling. Instead, craft a plan that will meet your needs for the long term, and don't sweat the day-to-day stock market fluctuations.

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1 Comment
Byte Jockey
July 20, 2011 at 9:37 am

Maybe he should have invested in gold instead of money.