In The NEWS

Worker Nest Eggs
401(k) plans, explained
Originally intended for corporate executives, the 401(k) is now, arguably, the most famous section of the US tax code and a staple in worker benefits packages and personal finance guides (watch 101).

Roughly 70 million Americans, with a total of more than $7T invested, use these long-term, tax-advantaged accounts to build toward a more secure retirement.

Some critics claim that with 401(k) plans, companies offloaded the risk of retirement savings to workers without the training to avoid volatile portfolio mixes. Amid the 2008 financial crisis, many 401(k) plans lost over a quarter of their value, an event that hit those near retirement particularly hard.

... Read our full explainer on the plans here.

Also, check out ...
> A work-free retirement is a relatively recent phenomenon. (More)
> Ted Benna was an accountant who invented what became the 401(k). (More)
> 401(k) plans had an average of $112K as of 2023. (More)


Spirals of Destruction
What are hurricanes?
Hurricanes are examples of tropical cyclones—rotating, low-pressure storm systems with winds exceeding 74 mph—that form over the warm waters of the North Atlantic and Northeast Pacific oceans. Able to grow to over 1,000 miles in diameter, tropical cyclones can unleash multiple feet of rain and storm surges.

All tropical cyclones consist of a central eye with no extreme weather, a violent eyewall of intense winds funneling warm, moist air upward, and spiraling rainbands composed of clouds and thunderstorms (see breakdown). The water in the air releases energy when it condenses, which accelerates wind speeds and provides a continuous supply of storm clouds until landfall.

Hurricanes are categorized by maximum sustained winds on the Saffir-Simpson scale and have caused over $1.5T in damage from 1980 to 2024.

... Read our full overview on hurricanes here.

Also, check out ...
> How the Earth's curve and rotation cause hurricanes to spin. (More)
> Hurricanes might have killed 300 times more people than reported. (More)
> Explaining how the hurricane forecasting "cone" actually works. (More)

SOURCE:  1440 NEWS