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So you are a 401(k) plan ‘millionairess.’ Now what?

So you are a 401(k) plan ‘millionairess.’ Now what?

Finance
I recently read an article in The New York Times that detailed how, over the past 12 years, the number of women who have achieved "millionairess" status has doubled.Also, based on a recent Fidelity report that surveyed 15 million 401(k) plan participants, 20 percent of respondents with $ 1 million or more in retirement accounts are women. They invested wisely in stocks, saved more than 18 percent of their salaries and developed a consistent habit of contributing to their 401(k) plans. Many earn less than $ 150,000 annually, which makes the ability to reach this benchmark even more impressive.Achieving this goal doesn't change who you are, but it can change how you plan for your future. You worked hard and saved more, and now you have options. I've consulted with clients who have achieved t...
Mester advocates for Fed to use rules-based approach when setting interest rates

Mester advocates for Fed to use rules-based approach when setting interest rates

Finance
The Federal Reserve should follow rules when making policy to give the public a better understanding of the central bank's actions, Cleveland Fed President Loretta Mester said Wednesday.A debate has lingered for years over whether the Fed ought to use economic benchmarks as triggers for interest rate hikes and other actions.In a speech delivered at Rutgers University, Mester became the first sitting Fed official to openly advocate a rules-based approach, though she did not push for a specific rule to follow. [The Cleveland Fed web site has a list of recommendations for which rules are worth following.]"I am not advocating setting policy mechanically according to a simple policy rule; no rule works well enough across a variety of economic models and circumstances," Mester said, according to...
11 questions on Aadhaar and its misuse, answered by the UIDAI

11 questions on Aadhaar and its misuse, answered by the UIDAI

Finance
After a recent report exposed how access to the Aadhaar database could be bought on the internet only for Rs 500, a lot of concerns were expressed over the security of private data of citizens on the government portal. The Unique Identification Authority of India (UIDAI) had clarified that it was just a case of unauthorised access to the Aadhaar website and no biometric data was stolen. The incident led to a big debate over the security of Aadhaar database. There were a number of unanswered questions that created a lot of confusion among the people. Even as a five-judge Constitution Bench is hearing a crucial case on its validity, the UIDAI has issued detailed FAQs on the safety and security of the Aadhaar database. Below are the answers to all your doubts about Aadhaar: 1) UI...
Aadhaar faces biggest test tomorrow, here's what you should know

Aadhaar faces biggest test tomorrow, here's what you should know

Finance
NEW DELHI: Five years after the first petition was filed challenging the validity of Aadhaar, a Supreme Court bench headed by Chief Justice of India Dipak Misra will begin hearing the petitions against Aadhaar tomorrow. In August, a nine-judge Constitution Bench headed by then Chief Justice of India JS Khehar had ruled that privacy was a fundamental right guaranteed under the Constitution. Now the government has to convince the Supreme Court that forcing citizens to give a sample of their fingerprints and their iris scan does not violate privacy. The government can only place reasonable restrictions on limited grounds such as national sovereignty and security, public order, decency, etc, as specified in Article 19 (2) of the Constitution. The petitioners are challenging the nature ...