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...what must seem like a cruel joke to many, the accounts proved the most dangerous for those closest to retirement. During the market downturn, the 401(k)s of 55-to-65-year-olds lost a quarter more than those of their 35-to-45-year-old colleagues. That's because in your early years, your 401(k)'s growth is driven mostly by contributions. You control your own destiny. But the longer you hold a 401(k), the more market-exposed it becomes. It's a twist that breaks the most basic rule of financial planning. (See 10 ways...

Author: /time Magazine | Title: Why It's Time to Retire the 401(k) | 10/9/2009 | See Source »

...idea that we could ever save enough to pay for 30 years of leisure is a relatively recent invention. An entire profession, financial planning, is dedicated to telling people they can, and must, pay for their own retirement. A 401(k) is usually a central part of those plans. Even for people who don't have enough money to send their kids to college or buy a home, building their 401(k), they are told, is their first priority. It's not terrible advice. The accounts grow tax-free, though you have to pay Uncle Sam's levy when...

Author: /time Magazine | Title: Why It's Time to Retire the 401(k) | 10/9/2009 | See Source »

...Harvard Lampoon, must you ruin everything that's sacred?” asks the Globe. Well, we can’t remember the last time the semi-secret Sorrento Square social organization that used to occasionally publish a so-called humor magazine did much of anything, let alone ruined something through satire, but it looks like they're giving it a try this year...

Author: By Luis Urbina | Title: EXCERPT: Lampoon's New Book | 10/9/2009 | See Source »

...address, which lasted for about an hour, dealt primarily with the five “fundamental realities” Americans must face as other world powers come into their own: the need for scientific and technological innovation, the rising status of China and India, the dysfunctional character of current bureaucratic and legal systems, an impending “cultural conversation” about modern values, and an “out of touch” American political system...

Author: By James K. Mcauley, CRIMSON STAFF WRITER | Title: Gingrich Touts ‘Tripartisanship’ | 10/9/2009 | See Source »

Last week, they published their accidental discovery that oppositely charged water drops will not stay together in strong electric fields. And the authors say their finding sheds new light on how oil companies, which must condense water droplets as part of the refining process, can operate more efficiently...

Author: By Xi Yu, CONTRIBUTING WRITER | Title: Water Drops Defy Elemental Physics | 10/9/2009 | See Source »

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