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Your 100-Year Financial Plan

It’s quite possible that you’ll live past 100—you’re going to need to start saving now. Here, a retirement plan across five key milestones

The dated model of retirement is crumbling, yet there’s nothing concrete to replace it. Terrifying articles suggesting millennials save $2 million by retirement is laughable. But so is turning to a panel of financial advisors—whom don’t have an answer beyond, “I don’t know, dude, what do you want your retirement to look like?” Factor in the possibility that many of us may live to be 100, and it’s clear we need a fresh set of rules. Here, we plot a new retirement plan across five key milestones.

AGE: 25

Retirement relics say you should have the equivalent of a year’s salary saved by now, but that seems unlikely when there are student loans to pay down and a social life to be had. Don’t panic, but do start saving now—even as little as $25 a month can pay off handsomely in the long run. Stuart Scholten, investment adviser representative at NFP in the retirement division, recommends setting aside 12 to 15 percent of your gross annual pay starting now. If reading that figure makes you feel like hyperventilating, check out Digit, an app that analyzes your spending habits and tucks away extra money into your savings account without you ever missing it.


AGE: 35

Why not schedule a low-key coffee with an accountant, just to get the State of the Union on your finances? Or you can go hi-fi/low-interaction and download the Retire Logix app to help you plan for post-work life. (It’s free, so go ahead and save that 99 cents you thought you were about to fork over.) Also, now’s the time to create a diverse, long-term income stream. “Money saved for the future doesn’t have to be in an investment account,” says Pamela Capalad, founder of Brunch & Budget, a budgeting service for millennials. In today’s freelance economy, it may make sense to focus more on passive income streams than your 401(k)—things like buying and renting out a house, or building a business and hiring people who can take over the brunt of the work.

AGE: 55

Time to reinvent yourself. If you’re not utterly passionate about your job, start switching gears to something that’s more fulfilling or uses your skills in a new way. Getting excited about your job isn’t just for bright, young college graduates. Remember: You may end up taking a pay cut, but the goal is to find something you love to do and do it longer. Conversely, you may start making more money than ever before. You can always aim to shift upward—leaving the office but becoming an in-demand consultant, for example. “If you absolutely hate your job, and you just keep thinking about making it to 62, I tell people that maybe the right answer for you would be to take a lower-paying job at age 55 and work it until 70,” says Nancy Collamer, author of Second-Act Careers. “Play around with those numbers a bit. You may end up ahead.”

AGE: 85

Remember that house you bought back in your 30s? Time to kick out the renting whippersnappers and move in yourself—or turn it into an exclusive artists’ colony and start raking in those sweet, sweet residency fees.

AGE: 100

Congratulations, you made it! Hopefully you’re sprawled on a beach somewhere, leisurely checking the royalties from your tell-all memoir, Living the Thinkpiece: My Life as an Overanalyzed Millennial. Pour yourself a margarita and tell Jim the intern that you’ll be back in the office/treehouse/yurt/vegan coffee shop on Monday.

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The problem with American Sign Language (ASL) is that over 500,000 people in the U.S. use it, but the country has over 330 million people.

So for those with hearing loss, the chances of coming into contact with someone who uses the language are rare. Especially outside of the deaf community.

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Looking back, the year 1995 seems like such an innocent time. America was in the midst of its longest streak of peace and prosperity. September 11, 2001 was six years away, and the internet didn't seem like much more than a passing fad.

Twenty-four years ago, 18 million U.S. homes had modem-equipped computers, 7 million more than the year before. Most logged in through America Online where they got their email or communicated with random strangers in chat rooms.

According to a Pew Research study that year, only 32% of those who go online say they would miss it "a lot" if no longer available.

Imagine what those poll numbers would look like if the question was asked today.

RELATED: Bill and Melinda Gates had a surprising answer when asked about a 70 percent tax on the wealthiest Americans

"Few see online activities as essential to them, and no single online feature, with the exception of E-Mail, is used with any regularity," the Pew article said. "Consumers have yet to begin purchasing goods and services online, and there is little indication that online news features are changing traditional news consumption patterns."

"Late Night" host David Letterman had Microsoft founder and, at that time the richest man in the world, on his show for an interview in '95 to discuss the "the big new thing."

During the interview Letterman chided Gates about the usefulness of the new technology, comparing it to radio and tape recorders.

Gates seems excited by the internet because it will soon allow people to listen to a baseball game on their computer. To which Letterman smugly replies, "Does radio ring a bell?" to laughter from the crowd.

But Gates presses Letterman saying that the new technology allows you to listen to the game "whenever you want," to which Letterman responds, "Do tape recorders ring a bell?"

Gates then tells Letterman he can keep up with the latest in his favorite hobbies such as cigar smoking or race cars through the internet. Letterman shuts him down saying that he reads about his interests in magazines.

RELATED: Bill Gates has five books he thinks you should read this summer.

The discussion ends with the two laughing over meeting like-minded people in "troubled loner chat room on the internet."

The clip brings to mind a 1994 segment on "The Today Show" where host Bryant Gumbel and Katie Couric have a similar discussion.

"What is internet anyway?" an exasperated Gumball asks. "What do you write to it like mail?"

"It's a computer billboard but it's nationwide and it's several universities all joined together and it's getting bigger and bigger all the time," a producer explains from off-stage.





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Photo by Li-An Lim on Unsplash

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A new CBS News poll found that 70% of Americans between 18 and 29 feel climate change is a crisis or a serious problem, while 58% of Americans over the age of 65 share those beliefs. Additionally, younger generations are more likely to feel like it's their personal responsibility to address climate change, as well as think that transitioning to 100% renewable energy is viable. Overall, 25% of Americans feel that climate change is a "crisis," and 35% feel it is a "serious problem." 10% of Americans said they think climate change is a minor problem, and 16% of Americans feel it is not a problem that worries them.

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