Word: nearing
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...Where 401(k)s Go Wrong In theory, 401(k)s should provide much more of a retirement cushion than they do. A 2007 study from the National Bureau of Economic Research (NBER) estimated that, on the basis of historical returns, by 2040 the average 401(k) of a near retiree would grow to an inflation-adjusted $451,944. That money, spread over 30 years, could replace at least 50% of the average retiree's income. Add Social Security and even highly paid workers will probably earn more than 80% of their preretirement income. "The only reason these accounts haven...
...practice, 401(k)s haven't been nearly so rewarding. When Boston College's Munnell looked at the returns 401(k)s have actually produced compared with the projections, the difference was sobering. The average 55-to-64-year-old should have a 401(k) balance of $320,000. In fact, at the end of 2007, the average 401(k) of a near retiree held just $78,000 - and that was before the market meltdown...
...weeks ago, a well-known U.S. military expert gave a wise speech about the near impossibility of making a counterinsurgency (COIN) strategy work in Afghanistan. He gave two examples. The first was digging a well: "How could you do anything wrong by digging a well to give people clean water?" Well, you could create new enemies by where you dug the well and who controlled it. You could lose a village by trying to help it. And then there was the matter of what he called COIN mathematics. If there are 10 Taliban and you kill two, how many...
...Department, is lukewarm toward Chiang and the KMT - reflecting, perhaps, Beijing's desire to maintain the momentum of its improving diplomatic ties with Washington. (Last November, the Chinese acceded to a four-decade-old request by Stuart's family to have his ashes buried in a cemetery in Hangzhou, near Shanghai...
...Mahmoud Ahmadinejad is largely a calculated affront to Washington - his version of Cuba's Cold War partnership with the Soviet Union. It's little coincidence that Sanz made his announcement the same day the U.S. and its allies called Iran on the existence of a secret nuclear-fuel plant near the Iranian city of Qum. The U.S. and the U.N.'s International Atomic Energy Agency (IAEA) fear that Iran is on the verge of bolting the global Nuclear Non-Proliferation Treaty and developing not just nuclear energy but a nuclear weapon, a charge Tehran denies. Venezuela's ties...