Money, page 2
Personal finance, investing, economics, wealth. 72 links, newest first. Page 2 of 2.
Links 51 to 72
Luxury goods stop signalling status for the wealthy
Short · tiktok.com · Issue #109
Describes post-luxury buyers who no longer buy to show their wealth
Summary
The speaker argues luxury goods are a scam, since the wealthy stop needing them to signal status.
The speaker argues that luxury goods are a scam, since the concept was created to make people spend money to signal status. Wealthy buyers who no longer need goods to signal wealth are described as post-luxury. A second speaker calls themselves pre-luxury: they own nice things for quality and buy without logos or status in mind.
Key points- Describes post-luxury buyers who no longer buy to show their wealth
- Calls his own stance pre-luxury: he owns nice things with no status signal
- Claims luxury goods do not deliver the status people expect from them
Ryan Serhant: What I Learned From 94 Billionaires
Watch · youtube.com · 11 min · Issue #106
A May 2023 video in which Ryan Serhant, a top-selling New York luxury real estate agent and founder of the brokerage SERHANT, shares six lessons from working with 94 billionaires.
Summary
A May 2023 video in which Ryan Serhant, a top-selling New York luxury real estate agent and founder of the brokerage SERHANT, shares six lessons from working with 94 billionaires. The video is free to watch on YouTube.
Inflation shrinks what your money buys
Short · tiktok.com · Issue #92
The speaker explains supply and demand curves as the basis for understanding inflation
Summary
Inflation is a loss of purchasing power, the speaker says, illustrated by a $5 bill no longer buying an Egg McMuffin.
Two speakers discuss the Inflation Reduction Act, and one explains inflation as a loss of purchasing power. Using a McDonald's Egg McMuffin that now costs more than $5 as an example, the speaker walks through supply and demand curves and explains that demand falls as prices rise. The description calls it a 9-minute explanation.
Key points- The speaker explains supply and demand curves as the basis for understanding inflation
- Demand falls as prices rise, the speaker says, so fewer people buy at higher prices
- The speaker calls the Inflation Reduction Act an oxymoron
Sunk costs push choices away from best outcomes
Short · tiktok.com · Issue #90
Walking ten blocks to a store you know is closed is a silly example
Summary
The sunk cost fallacy means choosing based on not wasting past investment, rather than on the best outcome going forward.
Big Think introduces the sunk cost fallacy with an example: someone who has walked ten blocks toward a store that turns out to be closed keeps going to avoid wasting that effort. The speaker explains that sunk costs are the time, money and effort already spent, and that the fallacy means choosing based on protecting past investment rather than on the best future outcome.
Key points- Walking ten blocks to a store you know is closed is a silly example
- Past time, money and effort are called the sunk cost
- The speaker says this pattern is surprisingly common in everyday choices
Nature debt swaps repackaged as ESG assets
Short · tiktok.com · Issue #89
About $2 trillion of developing-world debt was classed as eligible for nature swaps
Summary
The speaker says debt-for-nature swaps let banks repackage developing-world debt as ESG assets that reach retirement funds.
The speaker says about 2 trillion dollars of developing-world debt has been classified by The Nature Conservancy as eligible for nature swaps. Countries facing default, such as Belize, Ecuador, Sri Lanka and the Seychelles, receive debt relief in exchange for conservation pledges. The speaker claims the repackaged bonds, marketed as ESG debt, are then sold to asset managers such as BlackRock and end up in retirement funds.
Key points- About $2 trillion of developing-world debt was classed as eligible for nature swaps
- Countries reportedly get bonds at 50 cents on the dollar for protecting forests or reefs
- Repackaged debt is marked back up and sold to funds that end up in 401(k)s
Change Bad Spending Habits in 5 Steps
Watch · youtube.com · 7 min · Issue #83
Big Think's 'Your Brain on Money' video, produced with Million Stories Media, argues that many financial decisions come from habits that the brain runs without conscious control.
Summary
Big Think's 'Your Brain on Money' video, produced with Million Stories Media, argues that many financial decisions come from habits that the brain runs without conscious control. The description says about 40% of daily actions are habits. The video covers making habits visible, the neuroscience of habits and common good and bad financial habits, then five steps for building better ones.
BizToc: Business and Finance News Aggregator
Tool · biztoc.com · Issue #83
BizToc is a news aggregator that collects business and finance headlines from outlets including the WSJ, Financial Times, Bloomberg, Reuters, CNBC and Barron's on one page.
Summary
BizToc is a news aggregator that collects business and finance headlines from outlets including the WSJ, Financial Times, Bloomberg, Reuters, CNBC and Barron's on one page. It has sections such as Hot, Bullish, Bearish and Regulatory Impact, a market ticker for indexes, commodities and crypto, and an RSS feed. Headlines link to the original publishers.
The Hidden Cost of a Cashless Society
Read · thewalrus.ca · Issue #59
A 2022 article by Lucy Uprichard, a fact checker at The Walrus, arguing that the shift to digital payment could leave vulnerable Canadians behind, especially those without bank accounts or credit.
Summary
A 2022 article by Lucy Uprichard, a fact checker at The Walrus, arguing that the shift to digital payment could leave vulnerable Canadians behind, especially those without bank accounts or credit. It cites a 2021 Payments Canada report in which about 40 percent of Canadians said the pandemic had turned them off cash. Proposed fixes include prepaid cards for benefits and postal banking.
Prepare for recession with six months saved
Short · tiktok.com · Issue #52
Map money coming in against money going out and check whether anything is left over
Summary
To prepare for a recession, plan early, know your monthly income and spending, and build six months of savings.
The speaker treats personal finances like a business and starts by tracking monthly money coming in and going out. The goal is to break even or better each month, by paying off high-interest debt and, if needed, selling an unaffordable car or working more hours. The plan ends with saving six months of expenses, since recessions usually last about a year.
Key points- Map money coming in against money going out and check whether anything is left over
- If you don't break even, pay off high-interest debt and consider selling an unaffordable car
- Build savings for six months of expenses, since jobless claims are at a five-month high
Ten lessons worth learning early
Short · tiktok.com · Issue #47
Affording the monthly payment does not mean you can afford the item
Summary
The speaker lists ten lessons he wishes he had heard earlier, from avoiding financed purchases to not taking risks.
The speaker lists ten lessons said to be worth learning a decade earlier. They include not financing purchases you cannot really afford, accepting that life is not fair, looking after your body, and not relying on an employer. The list also covers investing early, avoiding alcohol, practicing positivity, and treating not taking risks as the biggest risk.
Key points- Affording the monthly payment does not mean you can afford the item
- An hourly wage is inefficient, and not using devices as an income source leaves you behind
- Not taking risk is the greatest risk, since retirees regret the dreams they did not pursue
Why raises lag and how literacy helps
Short · tiktok.com · Issue #46
Raises rarely match inflation, and pay is often set by committees months or years earlier
Summary
Employers set pay to serve shareholders, so raises lag behind, and financial literacy is the way out of being underpaid.
The speaker lists ten points about employment. Raises rarely keep up with inflation because pay is set by executives or budget committees long before, and profits go to shareholders. HR protects the company rather than the employee, and being indispensable or long-tenured is not leverage. Financial literacy is presented as the way out of trading time for a salary.
Key points- Raises rarely match inflation, and pay is often set by committees months or years earlier
- HR protects the company, and management promotes people it knows and likes
- Saying the company would need three people to replace you means you are underpaid
Naval Ravikant on Our Most Common Mistake
Watch · youtube.com · 2 min · Issue #38
Naval Ravikant, co-founder of AngelList and author of The Almanack of Naval Ravikant: A Guide to Wealth and Happiness, discusses what he considers the most common mistake people make.
Summary
Naval Ravikant, co-founder of AngelList and author of The Almanack of Naval Ravikant: A Guide to Wealth and Happiness, discusses what he considers the most common mistake people make.
Ignore decoy options to avoid overpaying
Short · tiktok.com · Issue #37
A $6.50 medium makes the $7 large look only 50 cents more than the medium
Summary
Retailers use a decoy option to make the premium choice look like a better deal, and you can counter it by ignoring the decoy.
The speaker explains the decoy effect, a marketing trick that nudges buyers toward a pricier option. Using movie popcorn, a $3 small and a $7 large look different once a $6.50 medium is added, since the large now seems only 50 cents more. To counter it, the speaker suggests first asking how much you really need, then ignoring the decoy option.
Key points- A $6.50 medium makes the $7 large look only 50 cents more than the medium
- Ask how much of something you really need before choosing the bigger option
- Identify which option is the decoy and intentionally ignore it
William Ackman on the Basics of Finance and Investing
Watch · youtube.com · Issue #34
William Ackman explains the basics of finance and investing in about 45 minutes, using a lemonade stand as the running example.
Summary
William Ackman explains the basics of finance and investing in about 45 minutes, using a lemonade stand as the running example.
The Position of Fuck You (The Gambler Clip)
Read · youtube.com · Issue #34
A one-minute clip from The Gambler featuring John Goodman, posted by Omid Malekan in 2015.
Summary
A one-minute clip from The Gambler featuring John Goodman, posted by Omid Malekan in 2015. It is shared as the film the term "fuck you money" comes from.
Fuck You Money: How Much You Need to Quit Work
Read · money.com · Issue #34
Ethan Wolff-Mann's 2016 Money.com article explains "fuck you money", slang for wealth large enough to quit your job without cutting your lifestyle.
Summary
Ethan Wolff-Mann's 2016 Money.com article explains "fuck you money", slang for wealth large enough to quit your job without cutting your lifestyle. The basic formula multiplies annual spending by expected years of life, so $60,000 a year over 50 years is $3 million. Accounting for inflation and returns, the article cites about $2.1 million for $60,000 a year, using a Vanguard calculator.
How the Economic Machine Works
Watch · youtube.com · Issue #33
Ray Dalio's 2013 animated video is an introductory economics primer based on the practical template he developed over his career.
Summary
Ray Dalio's 2013 animated video is an introductory economics primer based on the practical template he developed over his career. It covers credit, deficits, and interest rates, and aims to show the basic forces that drive the economy, how economic policies work, and why economic cycles occur. The video runs about 30 minutes.
Michael Saylor on What You Aren't Being Told About Bitcoin
Watch · youtube.com · Issue #22
A 27-minute video by Evan Carmichael presents Bitcoin's advantages over other assets, drawing on Michael Saylor and other investors and commentators, including Raoul Pal, Robert Kiyosaki, and Cathie Wood.
Summary
A 27-minute video by Evan Carmichael presents Bitcoin's advantages over other assets, drawing on Michael Saylor and other investors and commentators, including Raoul Pal, Robert Kiyosaki, and Cathie Wood. The description lists investing lessons such as buying when prices are low, protecting purchasing power, and staying patient.
Lobbying and campaign money write laws
Short · tiktok.com · Issue #9
Lobbyists write bill language, which politicians pass after campaign money and job offers
Summary
Lobbying and campaign money let special interests write laws, and the speaker says this corruption is legal and should be made illegal.
The speaker describes how lobbyists fund politicians' campaigns, offer them lucrative jobs, and write the bill that gets passed. Citing figures, the speaker says the 200 most politically active companies spent $5.8 billion on influence over five years and received $4.4 trillion in taxpayer support. The speaker argues the problem predates the 2010 Citizens United ruling and promotes a plan to bypass Congress.
Key points- Lobbyists write bill language, which politicians pass after campaign money and job offers
- The top 200 political companies spent 5.8 billion dollars influencing government in five years
- Those same companies received 4.4 trillion dollars in taxpayer support over that period
Elites shape US laws more than citizens
Short · tiktok.com · Issue #9
Researchers studied over 20 years of data on public support and passed laws
Summary
A Princeton study found that U.S. law tracks the views of elites and business interests, while average citizens' preferences have almost no impact.
The speaker discusses a Princeton study of more than 20 years of data on whether Congress passes laws that reflect public opinion. Ideas with no public support had about a 30 percent chance of becoming federal law, the same as the most popular ideas. The study found the average American had a near-zero effect on policy, while economic elites and business interests had far more influence.
Key points- Researchers studied over 20 years of data on public support and passed laws
- Ideas nobody supports and the most popular idea each have about a 30 percent chance of law
- The average American's preferences had a minuscule, statistically insignificant impact on policy
A viral 2050 roadmap for civilization
Short · tiktok.com · Issue #8
By 2030 the image shows asteroid mining tied to global GDP
Summary
A viral 2050 roadmap image ties asteroid mining, synthetic science and cryptocurrencies to future milestones, and the speaker finds some plausible.
The speaker discusses a viral image that they say shows an anonymous roadmap for civilization to 2050, linked to ISO 20022, a global payment system. According to the speaker, the image ties asteroid mining to global GDP by 2030, synthetic science and robotics to later decades, and cryptocurrencies to metals such as gold and copper. The speaker does not know who made it but finds the asteroid mining prediction plausible.
Key points- By 2030 the image shows asteroid mining tied to global GDP
- By 2040 it ties synthetic science to regenerative medicine and robotics to delegated work
- The speaker says the owner of the image is unknown
My Kind of Contract
Read · m.signalvnoise.com · Issue #7
Jason Fried of Signal v.
Summary
Jason Fried of Signal v. Noise describes the informal work-for-hire terms used by Segura, a Chicago design firm, in a 2017 post. The terms tie work to payment, make delays cost the client more, and split ownership by use, so the client owns what it uses and the designer keeps the rest. Fried argues that these trust-based terms beat costly legal remedies when a client mistreats you.