Economy: Most who build wealth do so gradually, over time
For example, only 1% of families under 35 are millionaires, but that rises with age. By ages 55-64, 21% of families are millionaires. This trend is particularly pronounced among college…
Economy: How to build personal wealth
Wealth is created by saving and investing: Wealth = Assets - Debts. Some confuse that and think it's W=A+D
Follow up: Vanguard’s predictions for 2023
Here is their forecast for 2023: With that track record, they predict 2024: Vanguard heads say 2024 will be “below average” for stocks (cnbc.com)
Economy, Media: Time for the monthly “living paycheck to paycheck” stories
The media can’t even come up with a new angle. They run this story monthly. 62% of Americans live paycheck to paycheck amid inflation (cnbc.com) And it’s always around 60+%…
Policy: Academics call for a global wealth tax
It would start with billionaires, and then, they say, expand downwards from there to tax “other rich people”: Billionaires Are Next Up in Crosshairs of Global Tax Architects (msn.com) After…
Economy: Rent price controls might be a root cause of high housing costs
Rent price controls might be a significant factor in today's housing shortages.
Follow up: Economic forecast models mostly useless
The New York Times also chimed in on the poor forecasting record of economists Monday in a separate story, “New Normal or No Normal? How Economists Got It Wrong for…
Economy: Mean net worth of American households exceeds $1 million … but …
Impressive numbers, but not everyone is average. Hence, the median number also tells us a bit more ...
Workforce: Ageism is ingrained in the work world
Employers much more likely to hire someone less than 45 years old. After that, participation in the labor force begins to drop off sharply. According to an OECD report which…