Word: pension
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Dates: during 1960-1969
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...ways by which a wage or salary earner can hope to become rich-at least on paper. As a result, the number of Americans who own shares has risen to 24 million. An estimated 76 million others own stock indirectly through their holdings in pension funds and the like. Now that the market has become the prime source of a second income for many Americans, they are increasingly asking a puzzling question: What makes the market go up-and down...
...most powerful men in the market are the managers of the fastest-growing pools of investment capital-the mutual funds, profit-sharing funds, and corporate-and union-pension funds. To a surprising degree, the institutional managers are men in their 30s and early 40s, and they are changing many of the old rules with new attitudes. Instead of aiming to preserve capital or achieve steady dividends, they are confidently committed to a cult of growth. In their search for short-term gain, many are taking longer risks for larger profits, trading in and out for the quick turn...
Although it has no plans to sell fund shares, Prudential, the nation's biggest life-insurance company, is considering making available variable annuities, which are presently sold only through group-pension plans, to individuals as well. Unlike the ordinary annuity, an in vestment that pays off in regular fixed payments after a certain age, the return on a variable annuity is affected by fluctuations in the market value of the securities on which it is based. For the inflation-wary investor, such annuities thus figure to hold many of the same attractions as mutual funds...
Ware is a fast left wing whose back checking gives the line defensive viability. Macadamia is a sophomore strickhandler, from Belong Hill on the order of pension Kent Parrot...
...such as small businessmen and farmers, can go on working as long as they want. Far different is the situation of countless men at all levels in business and industry. On an arbitrary date, the executive who yesterday was worth $200,000 a year is worth nothing but his pension. The blue-collar worker may begin to draw social security, but it is not enough to live on; if he works part time and earns from $1,500 to $2,700 a year, he is docked 500 of social security for every dollar he earns. Above...