Thursday, January 3, 2013

You May Not Recognize Yourself in 10 Years

Think you'll be the same person in 10 years that you are today? Think again. Most people realize they've changed in the past, but few expect to change in the future, a new study finds.

Instead, while acknowledging that their tastes, values and even personality have varied over the past decade, people tend to insist the person they are today is the person they will be in 10 years ? a belief belied by the evidence, said study researcher Daniel Gilbert, a psychologist at Harvard University.

"It's not that we don't realize change happens, because we all admit at every age that a lot of change has happened to us in the last 10 years," Gilbert told LiveScience. "All of us seem to have this sense that development is a process that has delivered us to this point and now we're done."

Permanent personality

In a new study published this week (Jan. 4) in the journal Science, Gilbert and his colleagues dub this mistaken belief the "end of history" illusion. No matter what age, Gilbert said, people act as if history shaped them and ended, leaving them in their final form. [7 Ways the Mind & Body Change With Age]

The illusion emerged when the researchers recruited participants online to fill out various personality, preference and value surveys as themselves 10 years prior and as themselves 10 years in the future. Over the series of studies, more than 19,000 people participated.

In each case, the researchers compared the look-ahead answers of 18-year-olds with the look-back answers of 28-year-olds, and so forth (comparing 19-year-olds with 29-year-olds, and 20-year-olds with 30-year-olds) all the way up to age 68. The older ages always reported changing in the past decade, but the younger ages did not expect to change nearly as much in the future as their elders' experiences suggested they would.

"When a 40-year-old looks backward, they say, 'I've changed a lot in terms of my personality, in terms of my values, in terms of my preferences,'" Gilbert said. "But when 30-year-olds look forward, they say, 'I don't expect to change a lot on any of those dimensions.'"

To make sure the results weren't a consequence of people overestimating their past change rather than underestimating their future change, the researchers analyzed the actual personality change of 3,808 people who filled out personality questionnaires in 1995-96 and then again in 2004-05. Sure enough, the measures of actual change in this group were nearly identical to the reports of change among the current study participants. In other words, people are good at gauging how much they've changed in the past. It's the future that gives them trouble.

The "end of history" illusion may be driven by two factors, Gilbert said. One is that people find it comforting to believe that they know themselves and that the future is predictable. Thus, people are motivated to see the present as permanent.

The other is that it's simply harder to imagine the future than to remember the past. People may struggle to imagine how they might change and mistakenly conclude that since they can't figure it out, they won't change at all, Gilbert said.

Consequences of changing

This misjudgment can have real-world consequences, Gilbert said. For one thing, people make a number of life choices, from marriages to careers, assuming that decades from now they'll like the same people and activities they do today. The researchers even demonstrated some of these consequences by asking 170 people, ranging in age from 18 to 64, how much they'd pay today to see their favorite band perform in 10 years. They also asked how much the people would be willing to pay to see their favorite band of 10 years ago perform this week. [7 Personality Traits That Are Bad For You]

People were willing to shell out $130 to see their current favorite band in a decade. But they wanted to part with only $80 to see their former favorite band play now. The gap suggests people are overestimating how similar their future preferences will be to their current ones, Gilbert said.

Psychologists actually know quite a bit about how personality and values change over a lifetime, Gilbert added. For example, people tend to become less open to new experience over time but more conscientious, he said. And the older you are, the less you're likely to change in the future ? though you'll still probably change more than you expect, this study suggests.

"If we know that our preferences are likely to be less stable than they feel, we can take great care when we make decisions. We can build in a margin for escape? ?? so, for example, if I am going to buy a ticket to see a concert in 10 years, I ought to buy a refundable ticket," Gilbert said.

But before you write a 10-year opt-out clause into your wedding vows, take heed: Gilbert's other research has found that when people feel they have the ability to change their minds, they're less happy with the choices they've made. People who make irrevocable choices tend to be happier with them than those who can flip-flop later, Gilbert said.

"The best of all possible worlds would be a world in which you're allowed to change your mind but you don't know it," he said.

Follow Stephanie Pappas on Twitter @sipappas?or LiveScience@livescience. We're also on Facebook?&?Google+.

Copyright 2013 LiveScience, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Source: http://news.yahoo.com/may-not-recognize-yourself-10-years-191147723.html

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Iran says it captured 2 more US drones in past

TEHRAN, Iran (AP) ? An Iranian navy commander claims Iran captured two small U.S. drones in past missions in addition to at least four others reported earlier.

Adm. Amir Rastgari says the two drones were of the small, low-altitude RQ-11 type, according to the semiofficial Fars news agency. He said one was captured in summer of 2011 and the other Nov. 2012.

Rastgari claimed most of the data from the unmanned aircraft was recovered.

Iran's powerful Revolutionary Guard said last month that it captured a ScanEagle American drone after it entered Iranian airspace over the Persian Gulf. At the same time, Iran claimed it had taken possession of two other simple, small ScanEagles.

In 2011, Iran claimed it brought down a more sophisticated CIA spy drone after it entered Iranian airspace from Afghanistan.

Source: http://news.yahoo.com/iran-says-captured-2-more-us-drones-past-152708227.html

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REPORT: Apple Is Working On A Bigger iPhone ... - Business Insider

Apple is preparing a new iPhone in multiple colors and sizes, analyst Brian White at Topeka Capital reports.

Thus far, Apple has only released one model of the iPhone, with one screen size, at a time.

"We believe this is about to change with the next iPhone offering different screen sizes that we believe will allow Apple to better bifurcate the market and expand its reach," says White.

He thinks Apple could have three screen sizes. The small iPhone with a 3.5-inch screen, the medium iPhone with a 4-inch screen, and then a bigger iPhone with a bigger screen.

The next iPhone is going to come out in the May-June time frame, says White.

White thinks Apple makes the next iPhone more colorful, similar to what it's done with the iPod Touch, which available in a wide variety of colors. He's not the only one saying this. Jefferies also thinks the next iPhone comes in colors.

Almost every other smartphone maker offers bigger screens than the iPhone, so it makes sense for Apple to increase the size of the iPhone screen. While the 4-inch iPhone is nice, it would be nicer if it was even bigger.

The risk for Apple is that it introduces a mess of fragmentation for developers. When it introduced the iPhone 5, with a taller screen and new proportions, developers had to update their apps. We're not sure how developers would handle working on three screens, but we supposed it's possible a bigger screen could have the same proportions as the iPhone 4, making life easier for developers. Or, maybe Apple can create a software solution to eradicate the fragmentation problem.

Here's White's exact quote on screen sizes:

Our checks are also indicating that the next iPhone will offer customers more choice in terms of screen size. Although Apple offers a 4-inch screen on the iPhone 5 and a 3.5-inch screen on the iPhone 4S and iPhone 4, the Company has never offered multiple screen sizes for a single model. We believe this is about to change with the next iPhone offering different screen sizes that we believe will allow Apple to better bifurcate the market and expand its reach. This eventually opens up the possibility for a lower-priced iPhone (i.e., iPhone mini) with a smaller screen size that could allow Apple to further penetrate markets such as China and open up opportunities in India. At the same time, Apple could unveil a larger screen size compared to the recently updated 4-inch screen on the iPhone 5. Clearly, there are many smartphone models that are now larger than 4 inches and even some bigger than five inches on the market.

Source: http://www.businessinsider.com/iphone-6-2013-1

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Up next, attacking the filibuster (Powerlineblog)

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Wednesday, December 5, 2012

NASA lost in space, expert panel says

WASHINGTON (AP) -- NASA is adrift without a coherent vision for where it should be going, an independent panel of space, science and engineering experts says.

But the report by the National Academy of Sciences doesn't blame the space agency. It faults the president, Congress and the nation for not giving NASA clear direction. At the same time, the report said NASA is doing little to further the stated goal of the White House to send astronauts to a nearby asteroid.

Panel member Bob Crippen, a retired NASA manager and astronaut who piloted the first space shuttle mission, said he has never seen the space agency so adrift. He said that includes the decade between the end of the Apollo moon landings and the beginning of the space shuttle program.

"I think people (at NASA) want to be focused a little more and know where they are going," Crippen told The Associated Press.

President Barack Obama in 2010 told the space agency to plan to send astronauts to an asteroid by 2025 as a training ground for an eventual Mars landing. But the 80-page report from the national academy and its authors say that there is little support for that idea within NASA and the international space community. Also, NASA hasn't allocated much money for it. Nor has it done much to locate an asteroid target. The agency's vague strategic plan avoids mention of an asteroid mission.

Crippen said an asteroid mission just doesn't make sense, technically or politically.

"I hate to use the word credible, but people don't buy it," said academy panel member Marcia Smith, president of Space and Technology Policy Group. "They don't feel that the asteroid mission is the right one."

NASA chief spokesman David Weaver said in an emailed statement that the agency has clear and challenging goals.

Source: http://news.yahoo.com/expert-panel-nasa-seems-lost-161404282.html

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Retirees may be doing better than you think

2 hrs.

Contrary to what you may have heard, new retirees are doing better financially than previous generations, according to research being published on Wednesday by a mutual fund industry trade group.

"On average, more-recent generations of households have higher levels of resources to draw on in retirement than previous generations," said the study by the Investment Company Institute, a trade group. "Other measures also indicate improvements in retiree well-being. For example, the poverty rate among people aged 65 or older has declined from nearly 30 percent in 1966 to 9 percent in 2011."

These findings -- culled from a survey of academic, government and industry research -- run counter to the oft-quoted conventional wisdom that older people will be left impoverished by the decline of traditional defined benefit pension plans. It also seems a change in tone for the industry, which has funded countless surveys showing how worrisome to workers the retirement landscape is.

"The extent to which previous generations of retired households relied on income generated by private sector (defined benefit) plans is often exaggerated," the study said. The shift to defined contribution plans like 401(k)s "will increase retirement resources for most households."

Perhaps the new tone is aimed at fending off rumored threats to the favorable tax treatment that 401(k) plans and similar accounts receive as Washington tries to cut deficits and avoid large tax increases scheduled to take effect in 2013.

"We feel it is very important to preserve the tax incentives for those plans," Sarah Holden, senior director of retirement and investment research at ICI, said in an interview. "This is an area that we've seen works well for American workers. These plans can provide significant income in retirement."

To be sure, the ICI findings are in the aggregate, so not every retiree will be on more solid financial footing than his or her forebears. But the study shows that the money Americans have earmarked for retirement -- now topping $18.5 trillion -- is substantially higher than at any other time in U.S. history, even when defined benefit plans are included.

"Recent cohorts of retirees tend to enter retirement wealthier than previous cohorts," the study says.

Households led by people of all ages had more retirement assets than ever, the study found. The average amount of retirement assets per U.S. household was $153,100 on June 30 of this year. Adjusted for inflation that is 2.7 times higher than in 1985 and 5.6 times higher than in 1975, the study said.

The findings should encourage survey-weary workers heading into retirement, but not so much that they stop saving. Here's some more perspective.

  • Older people save more for retirement than younger people, but that's OK. "A younger worker might be saving for a home. That's not formally earmarked for retirement, but you can live in it while you are retired. It's going to be a resource that is important," said Holden.
  • Not everyone will be OK. But teasing out who will and won't have enough in retirement is complicated and a little bit counterintuitive.?The folks at the bottom of the earnings spectrum might be better off than expected, because Social Security will make up a higher percentage of their income, says Holden. She predicts that those who will face the biggest challenges funding their retirements are the same people most challenged at funding their earlier years. "Folks who were vulnerable while working (either by being underemployed, unemployed, working part-time or retiring early for health reasons) will tend to remain vulnerable in retirement," said Holden.
  • Other assets count. In 2010, roughly 82 percent of near- retirees owned homes, and for the typical homeowner, their home-equity made up almost one-third of their net worth. People approaching retirement will be able to tap their IRAs, 401(k)s, home equity (either by downsizing or using reverse mortgages), Social Security, private pensions and any other savings they might have.?For retirement savers, mixing that up is usually a good idea. Saving some money outside of retirement accounts allows for greater tax flexibility when it comes time to make withdrawals. A home that is paid off or almost paid off can be a significant resource for the later years of retirement.
  • There's good news on spending too. It's not just in their pre-retirement savings that workers are displaying some encouraging behavior. There are starting to be shreds of evidence that people are withdrawing less from their retirement accounts than might be expected.

That observation comes from T. Rowe Price, an investment company that holds a substantial number of retirement accounts. Its advisory clients often tend to withdraw roughly 4 percent of their assets during their first year of retirement, said Christine Fahlund, a senior retirement adviser with the company. But they tend not to raise their withdrawals in every subsequent year, even though T. Rowe Price retirement plans typically allow for annual inflation adjustments of those withdrawals.

Moreover, Fahlund says some of her retired clients are unhappily surprised when they hit age 70-1/2 and must take required minimum distributions from their accounts. "In many cases, they don't need the RMDs and they don't want to take them," she said.

That's another surprising and nontraditional retirement story line: There's too much money.

Linda Stern tweets at http://www.twitter.com/lindastern .

Source: http://www.nbcnews.com/business/retirees-may-be-doing-better-you-think-1C7429126

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Video: Dividends: Who's Cashing In?

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Source: http://video.msnbc.msn.com/cnbc/50074143/

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