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You Probably Need Less Money Than You Think For Retirement

You Probably Need Less Money Than You Think For Retirement [A Wealth of Common Sense] – “This is the perfect encapsulation of lifestyle creep and why some mythical number in the future probably won’t solve all of your problems. Younger you would probably be blown away by how much you make but older you is a completely different person with different preferences and responsibilities.”

Burger King gave candy to a worker who never called in sick. The internet gave $400K [NPR] – “Burger King cook and cashier Kevin Ford was happy to receive a small goody bag from management as a reward for never calling in sick. But people on the internet were less thrilled. They believed Ford deserved more — over $400,000 more.” For every GoFundMe scam story, I hope there are a hundred of these types of stories.

If you have kids, supervise them. Not only is it a good idea but it helps their earning power!

Parental supervision positively impacts children’s economic prospects two decades later: A prospective longitudinal study [PLOS One] – “Parental educational attainment, income, and family structure were strongly associated with their children’s household income at age 35 (e.g., r = .392, p < .05). Parental supervision of the child was associated with increased household income for the child at age 35, adjusting for SES of the family of origin. Children of parents who did not engage in adequate supervision earned approximately $14,000 less/year (i.e., ~13% of the sample’s median household income) than those who did. The association of parental supervision and child income at 35 was mediated by the child’s educational attainment."