Getty ImagesTalk about a glass-half-full, glass-half-empty time. Just when we can be encouraged by news that the recession is over, it's hard to feel happy when so many people remain out of work and unemployment is expected to rise even more before it falls.
Here's another reason it's hard to feel good about any possible forward momentum: A Hewitt Associates study finds that even though we have talked a good game about the importance of saving during this economic crisis, it turns out that half of all workers continue to cash out their 401(k) plans when they leave or change jobs.
It's easy to see how it happens, especially if you're a worker in your twenties who thinks that you've got lots and lots of time to save for retirement. This AP story features a 29-year-old who found a need to tap into his 401(k) funds in his twenties after he gave notice to one job after getting an offer for another, only to have that offer rescinded. Out of work, he cashed out $10,000 in retirement savings and was
Blog Posts by Dory Devlin, Shine staff
Getty ImagesTalk about a glass-half-full, glass-half-empty time. Just when we can be encouraged by news that the recession is over, it's hard to feel happy when so many people remain out of work and unemployment is expected to rise even more before it falls.Read More »from Don't cash out your 401(k)!
Getty ImagesWondering when the government's "cash for appliances" program unveiled in the summer is actually going to start? Unlike the "cash for clunkers" program, which was administered directly by the federal government through automobile dealerships, this rebate program is being run by individual states. So if your state has applied to be a part of the program, you can find out how much money your state has to divvy up for appliance rebates here.Read More »from "Cash for appliances" timed for spring
California, for example, has been allocated $35.2 million in federal American Recovery and Reinvestment Act funds, and the program will be run by the California Energy Commission. Three appliances will be eligible for rebates--clothes washers ($100 rebate), refrigerators ($75 rebate), and room air conditioners ($50 rebate)--beginning sometime in early spring. The good news: Those rebates are in addition to any retailer, manufacturer, and the state's existing rebates for buying energy-efficient appliances. New York, meanwhile will run its program
Photo credit: Matthias Vriens-McGrath for Glamour/ First lady Michelle Obama with White House internsWhen Glamour set out to name the magazine's 12 Women of the Year for 2009, there was one woman who made the editors' difficult job just a little easier: Michelle Obama. She is the first first lady to appear on Glamour's cover in its 70-year history, and she is out front not because of her instantaneous rise as an American style icon, but for the remarkable way she is making mentoring young women a priority at the White House.Read More »from Glamour honors Michelle Obama as mentor in chief
"Just nine months into her job, our nation's first African-American first lady has thrown open the doors of the White House to local children and families, determined to show young people that, in her words, 'there's no magic to being here'--that with hard work, any one of us can rise to greatness," Glamour Editor-in-Chief Cindi Leivi writes. "The first lady is establishing mentor relationships between top women in the administration and girls in need in DC, and is encouraging women leaders around the country to do the same where they live."
Glamour is honoring
- Dory Devlin, Shine staff | Work + Money – Tue, Oct 27, 2009 4:27 PM EDT
Getty ImagesMaybe Wi-Fi in the sky is not such a good idea.Read More »from Wi-Fi in the air: Maybe it's not such a good idea after all
The Northwest pilots who overshot their destination by 150 miles last week during a San Diego-to-Minneapolis-St. Paul flight took connecting anywhere, anytime to new heights. It turns out they were both on their computers, checking out their new work schedules (against company policy) because of the company's merger with Delta Airlines.
Yeah, yeah... not a terribly original pun, I know. But this story sure does illustrate how connected we are to our connected devices, at all ages, in all professions. We can't seem to put down cell phones when we drive, and now we learn that even pilots charting the skies with passengers in tow are a little too at ease losing track of time with the help of an Internet connection and a tech device in hand.
Federal investigators say the pilot, 53, and co-pilot, 54, are both experienced pilots, with no records of accidents, incidents, violations, or medical problems. They have been suspended until the
- Dory Devlin, Shine staff | Work + Money – Mon, Oct 26, 2009 11:58 PM EDT
APWhat do you know? It turns out that some people do actually get fired when news hits the tabloids of affairs with younger employees in the workplace. ESPN fired Baseball analyst Steve Phillips, less than a week after he admitted having an affair with a production assistant at the cable network.Read More »from Some people do get fired for having affairs with younger coworkers. Just ask Steve Phillips.
It didn't help, of course, that the 22-year-old production assistant started calling Phillips' wife, sent her a graphic letter about their involvement, and showed up in the family's Connecticut driveway in August after Phillips broke off the affair, according to police reports. Still, it makes you wonder: Why did ESPN fire Phillips, 46, when...
.... a sitting president (Bill Clinton) survived in office after stories of his involvement with a White House intern?
.... a sitting governor (South Carolina's Mark Sanford) hasn't left his job behind after disappearing from his state over Father's Day to go to Argentina to see the woman he was having an affair with?
... David Letterman admits past
Getty ImagesThe government's plan to limit executive pay for the leaders of the troubled and rescued companies that took bailout money to survive is on the table. In the end, it will affect only 25 executives at seven companies because the other companies who took loans while the economy was in free fall have paid the money back to avoid pay dictates like this.Read More »from Executive pay plan: Will it make a difference?
One of the main aims of the plan is to sync the executives' personal interests with the long-term financial health of their companies, not a short-term gain via astronomical bonuses. The cash portion of these execs' pay will but cut by about 90 percent, replaced mostly with company stock that cannot be sold for years.
The companies in question are Citigroup, Bank of America (where the CEO has resigned and will not take his pay or bonus for 2009, but could reap a pension of $52.3 million), American International Group (AIG), General Motors, Chrysler, and the financing groups of the two auto companies.
Among the not-affected-at-all:
Getty ImagesOh, I remember it well, one of the first times I held my sweet, non-talking baby girl while listening to another parent lose it with her older talking, walking child. I'll never do that, I thought to myself, I'll never scream so crazy nastily at my little girl.Read More »from Have you traded spanking for shouting?
I'd love to be able to say I have never raised my voice to earsplitting levels, or never had a tantrum to match a toddler tantrum that drove me to scream back at a screaming child. Even my kids still laugh retelling the story about how when they were teeny tiny (ages 2, 4 and 6), they got me good one April Fool's morning; my 4-year-old son yelled from the table into the kitchen: "Mommy, B spilled the milk again!" They knew I'd lose it, and at least they dissolved into giggles yelling "April Fool's" when I didn't fail to disappoint.
That's why I have to agree with Hilary Stout's New York Times article that says shouting is the new spanking, for some parents, which basically calls out my entire parenting generation
- Dory Devlin, Shine staff | Work + Money – Thu, Oct 22, 2009 3:47 AM EDT
NBC/The Today ShowToday's reports from "A Woman's Nation" focused, interestingly, on women and religion. As women's lives have gotten busier and filled with more breadwinning responsibilities, women continue to turn to religious institutions and religions for spirituality and support.Read More »from Women: Finding time and place for religion, spirituality
Some religions have responded more than others to women's needs and have embraced women as leaders in their clergy, not just in the volunteer ranks, researchers Kelly Morgan and Sally Steenland write in "The Shriver Report: A Woman's Nation Changes Everything."
One big change researchers have noticed in recent years is that women (and men) are more frequently switching religious affiliations, "moving among different faith traditions-and in and out of organized religion altogether." A recent study by the Pew Forum on Religion & Public Life found that about half of all Americans change their faith at least once during their lives. And the reasons are many: marriage, moves, the search for a faith that better fits their
- Dory Devlin, Shine staff | Work + Money – Tue, Oct 20, 2009 5:55 PM EDT
NBC/The Today ShowAs part of her week-long broadcast blitz on "The Shriver Report: A Woman's Nation Changes Everything," Maria Shriver focused today on what men think and the roles they play in the changing landscape at work and at home.Read More »from What do men think about women's changing roles at work and home?
What emerges from this and other studies is that men are definitely more involved at home, taking care of the kids and doing housework, and are more comfortable with women working outside the home. But balancing a home where both parents work, both sexes agree, is an ongoing negotiation.
The Shriver/Center for American Progress report found that 84 percent of couples today are negotiating the rules of relationships, work, and family. And lots of men, particularly younger men, are happy to do so. "They were raised by working mothers, they want to be more involved with their kids, they don't really like the model they saw with their fathers, but they are struggling to be able to do it all just like women are," Shriver told Matt Lauer on the Today Show.
While men are
- Dory Devlin, Shine staff | Work + Money – Mon, Oct 19, 2009 10:48 PM EDT
Just as women have decisively claimed half of all jobs in the U.S. work force, more than half the desks in college classrooms, and the role of breadwinner or co-breadwinner in two-thirds of American families, there is a new spate of studies that delve into our roles and impact at work and at home. It's perfect timing for a fresh look at what we women know we are doing: working hard to earn a good living, working hard to take care of our families, and struggling to get it all done, week in, week out.
Maria Shriver will be on NBC's Today Show and news programs this week with stories related to "The Shriver Report: A Woman's Nation Changes Everything." Shriver, the first lady of California who has transformed the California women's conference into the biggest annual women's gathering in the country, has joined with the Center for American Progress for a survey on women. Here's a taste of what they found:
- Men and women are both accepting of the fact that women are gaining as