Word: paid
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Dates: during 2000-2009
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...about saying we have to stop pumping carbon into the air. If we're extremists, so be it. The stakes are too high. If we want people to make sacrifices in their lives, then we environmentalists should also be willing to make sacrifices. Too many times [environmentalists] are high-paid people working in corporate offices, and they're living just like the people that they're trying to reform...
...whose God wants to "prosper" you. In 2006, the runaway bestseller The Secret promised that you could have anything you wanted, anything at all, simply by using your mental powers to "attract" it. The poor listened to upbeat preachers like Joel Osteen and took out subprime mortgages. The rich paid for seminars led by motivational speakers like Tony Robbins and repackaged those mortgages into securities sold around the world. (Read "Yes, I Suck: Self-Help Through Negative Thinking...
...Congress was trying to close a loophole on executive bonuses when it created the 401(k). Most companies intended 401(k)s - which were originally called salary-reduction plans but then renamed for the portion of the tax code that makes them possible - to be a perk for highly paid executives, not a pension replacement. That's because lower-paid employees probably could not afford to defer a portion of their paychecks. So companies held on to their pension systems even as they added 401(k)s, which by law they had to make available to all employees. When...
...retired from Occidental with $350,000 in his 401(k). That's a hefty sum, but he can withdraw just 4% of it annually, or about $1,200 a month, to limit the chances of outliving his money. That's 60% less than what the traditional pension would have paid...
...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't lived up to their potential is that they haven't gotten enough time," says James Poterba, president of the NBER, who co-authored the study. (See 25 people to blame...