You always hear people telling you to put away monies into your 401(k), SIMPLE IRA or 403(b) plan at work, right? Here’s a strategy to try, if you can. Let’s assume a $43,000 salary, a 2% annual pay increase, and a 40-year accumulation period. If you defer 4% each pay for those 40 years, you could withdraw $2,097/month at retirement. Instead, increase your contribution each year by a 1% deferral until you get from 4% to 12% each pay. At retirement, you could withdraw $5,234/month!!! The multipliers get crazy.
Here are some interesting statistics regarding “What Does a Leader Look Like?” in business. It is remarkable, in this supposed age of diversity, how many businesses still conform to these stereotypes:
- 30% of Fortune 500 companies’ CEOs are 74 inches or taller (less than 4% of Americans are that tall).
- Voice quality was more important than content when people were asked to evaluate executive speeches.
- Male CEOs with the deepest voices earn $187,000 MORE each year, on average.
- Companies with CEOs who had finished marathons were worth about 5 percent more, on average, than those with CEOs that had not.
Huh? Really?? Don’t worry. All is not lost. Those who haven’t been gifted with height, athleticism and lower voice registers can give themselves a leg up by adopting power poses. One very important thing everyone should do before heading into a job interview, giving a big speech, or attempting an athletic feat is to do 2 minutes of power posing.
What is power posing? It is adopting the stances associated with confidence, power and achievement – chest lifted, head held high, arms either up or propped on the hips. These poses can change body chemistry. High-power poses increase levels of testosterone and decrease levels of cortisol – helping people feel more confident. Low-power poses cause people to feel more stress. If you’re after an executive-level position competing with equally qualified candidates, power poses can give you an edge. Studies have proven this…
Going back to my cage…bark at you soon.
Mike