Ever wonder why you see so many older people working in warehouse stores and driving school buses? It’s because they don’t make enough in retirement to support themselves. Most worked all of their lives and did what they were supposed to do. Yet, circumstances put them in situations where they were not able to pay the bills.
Got a bun in the oven? Congratulations! For millions of us, raising a family will be the pinnacle experience of life. Ten fingers, ten toes, and then … away the money goes! Make sure you’ve stashed away plenty before your tadpole squirts out.
Think back to yourself a decade ago, compared with the person you are now. Recall how different you were then and how much you’ve changed. Now imagine yourself in 10 years. Most of us see our future selves as little changed from the person we are today.
We’re on a “treadmill of consumption,” continually buying more and more stuff. Yet, even as our incomes rise, we don’t seem to get any happier. So, future tycoons, will having more money increase your happiness? Or are you simply speeding up the treadmill?
At one time Europeans thought that all swans were white. The phrase “black swan” derives from a common 16th century English expression as a statement of impossibility. Then in 1697, Dutch explorers discovered large numbers of black swans in Western Australia.
The emotional connection of money makes it very difficult for spouses to agree on spending habits, earning capacities, and priorities for managing money. That spells trouble. How often is money an issue in divorces? More often than you think.
NeXters, you’re strong, good-looking, and above average. As recognized persons of genius and talent, what are the odds that you, too, will become a billionaire? Not as good as you think.
Pizzas are never cut perfectly. And, quite naturally, most of us want to scam the largest slice for ourselves. We seek to maximize the gain (most cheese and pepperoni) and minimize surprises (who ordered the anchovies?).
The fundamental decisions most young persons will make are the same ones faced by their parents and their parents’ parents. In a world less forgiving of mistakes, the ability to make smart decisions is a particularly vital skill to master. Getting it wrong can cost a bundle.
A bad habit is an undesirable behavior pattern. Common examples include procrastination and overspending. But removing established habits can be a challenge because they are a part of who we are.
