Personal Finance Daily: You'll need 11 times your salary in retirement

	Personal Finance Daily JULY 05, 2012 Thursday's Personal Finance stories By MarketWatch Don't miss these top stories: 10 keys to financial independence in retirement Why prepaid cards aren't for everyone 5 banned foods, from foie gras to certain beers Stocks for bond lovers Private-sector payrolls pick up in June, ADP says Are you on track to stash away 11 times your annual salary for retirement? That's just one step to being a financially independent retiree, according to MarketWatch columnist Robert Powell. Read his story today for nine other steps to financial freedom. Avoiding prepaid cards might be another key money decision. As Jennifer Waters writes in her Consumer Confidential column, these cards may be convenient in some cases, but their fees are many and varied, making them a bad choice for many consumers. —Andrea Coombes , Personal Finance editor Why prepaid cards aren't for everyone The fast growth of prepaid cards might make you think you're missing something. But the wide range of fees and features can limit these cards' use and, in some cases, make them downright wrong for some consumers. Why prepaid cards aren't for everyone. 10 keys to financial independence in retirement It's easy for a country to celebrate a day of independence. There's a clear marker—for the U.S., it's July 4. But it isn't so easy for average Americans to celebrate a day of financial independence. There's not one marker, but many. What's more, the markers vary from person to person, writes Robert Powell. 10 keys to financial independence in retirement. 5 banned foods, from foie gras to certain beers As some Californians lament the loss of foie gras from upscale restaurants across the state, here are five other foods you may not see on the menu—including high-alcohol beer—depending on where you live and travel. 5 banned foods, from foie gras to certain beers. ECONOMY & POLITICS Service sector weakest since January 2010 In another signal of a deteriorating U.S. economy, the ISM index shows this part of the economy grew at the slowest pace since January 2010. Service sector weakest since January 2010. Private-sector payrolls pick up in June, ADP says A pickup in private-payroll expansion in June suggests U.S. unemployment may have declined, according to a survey based on a sampling of payrolls handled by Automatic Data Processing. Private-sector payrolls pick up in June, ADP says. U.S. jobless claims fall 14,000 to 374,000 First-time filings for unemployment benefits fall to lowest in six weeks, Labor data show, but the picture remains one of an economy mired in mediocre hiring trends. U.S. jobless claims fall 14,000 to 374,000. ECB cuts rates; BOE boosts quantitative easing The European Central Bank takes its key lending rate to a record low below 1%, while the Bank of England fires another salvo of quantitative easing in a bid to keep the U.K. economy out of the ditch. ECB cuts rates; BOE boosts quantitative easing. China's central bank cuts lending, deposit rates China's central bank on Thursday unveiled a surprise interest rate cut, lowering borrowing and deposit rates while also enabling banks greater leeway in setting their own lending rates at a discount to the benchmark. China's central bank cuts lending, deposit rates. China likely considering fresh policy easing China could be on the verge of a fresh policy loosening to help stimulate the economy and guard against faltering export demand. China likely considering fresh policy easing. Merkel's Dutch ally feels impact of backlash The political backlash in Europe against unrelenting austerity measures gathers momentum, with even stodgy Netherlands turning to a charismatic left-wing politician, writes Darrell Delamaide. Merkel's Dutch ally feels impact of backlash. Asbestos mine reopening is a black eye for Canada Reopening its only asbestos mine isn't just a black eye for Canada. It's a kick in the groin to world and Canadian health organizations. Asbestos mine reopening is a black eye for Canada. Shard is London's latest excuse to party, whinge Before the official inauguration, members of the media sat down for an embargoed chat with several key players in the 12-year odyssey that turned the Shard into reality. Shard is London's latest excuse to party, whinge. INVESTING Stocks for bond lovers The relationship between companies' stock and bond yields has been turned upside down. Investors seeking income should adjust their strategy accordingly, writes SmartMoney's Jack Hough. Stocks for bond lovers. Better news on labor front, but the threats remain A couple of economic reports gave a brighter view of the U.S. labor market, but other headlines remind us that growth is weak and fragile nearly everywhere. Better news on labor front, but the threats remain. How to sell drugs to children GlaxoSmithKline's mantra is "Do more, feel better, live longer." But it might as well have been, "Prescribe Paxil to children. Win a free trip!" reports Al Lewis. How to sell drugs to children. Veteran ignores recession rumblings Regardless of renewed recession fears, a top performing veteran edges further into the market. Veteran ignores recession rumblings. 14 secrets of happy investors at world's end Here are my reminders, 14 Secrets of Happy Investors at World's End. Maybe they'll jar your memory, maybe bring a smile, maybe help you see that at this one moment in time, in your own unique way, you really are the happiest, richest and luckiest investor living in the whole wide world. 14 secrets of happy investors at world's end. What's good for VW isn't good for Germany Anyone who is banking on the Germans riding to the euro's rescue is going to be badly disappointed, writes Matthew Lynn. The euro has benefited German companies, but not its people. What's good for VW isn't good for Germany. Get the latest news on our mobile site: http://www.marketwatch.com/m MarketWatch has sent you this newsletter because you signed up to receive it. To ensure you receive this newsletter in the future, please add marketwatchmail.com to your list of approved senders. Sent to: kumaresan.selva.blogger@gmail.com Unsubscribe | Subscribe Copyright 2012 MarketWatch, Inc. All rights reserved. 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