Links for October 2021

 Links for October 2021

More great work from Karl at Mindfully Investing: https://www.mindfullyinvesting.com/future-return-forecasts-expecting-the-unexpected/

A ton of wisdom here: https://www.collaborativefund.com/blog/the-highest-forms-of-wealth/

• And here as well: https://www.collaborativefund.com/blog/historys-seductive-beliefs/

Can you get fired from an internship? Yes: https://filledwithmoney.com/fired-from-internship/

"That's why I'm interested in being rich. Not because I want to have a lot of money but because I don't want anyone in the entire world to have control over me." https://mywealthmoney.com/save-1-million-by-30/

A very thoughtful approach to a sensitive topic: https://steveark.com/2021/06/16/giving-grown-kids-money/

The Pandora Papers: The BBC provides you with a handy guide to 9 years of finance leaks. https://www.bbc.com/news/business-41877932

Two outrage-inducing posts from independent journalists Wall Street On Parade:

• The Fed is Now a Bailout Kingpin: https://wallstreetonparade.com/2021/07/the-federal-reserve-has-radically-changed-from-a-central-bank-to-a-bailout-kingpin-americans-just-havent-paid-attention-until-tonight/
   
• The Fed plans to permanently backstop Wall Street with overnight loans at below-market interest rates. Because bankers clearly don't already have access to enough cheap money; they need more... https://wallstreetonparade.com/2021/07/the-fed-announces-plans-to-permanently-backstop-wall-street-with-a-standing-repo-loan-facility-of-500-billionstarting-tomorrow/

There was a recent scandal about insider trading by the President of the Dallas Fed. This was written before his resignation, and it's 100% accurate. And also outrage-inducing. In fact, there are an awful lot of outrageous things going on in the halls of power. Makes you wonder... https://doomberg.substack.com/p/let-them-eat-pizza

Investing, explained in one sentence

Want the principles of good investing explained simply?

Well, it doesn't get simpler than a single sentence. Here's my latest attempt, with a distinct nod to the late John Bogle:

“Performance comes and goes, but costs are forever.”

Of course, I'll have to explain this just a bit further.

How Rich are Americans by Age Group? [Sept. 2020 data]

Net assets by age group, Sept. 2020 edition

How do your net assets compare to others in your age group?

I first posted on this topic back in August of 2020, based on a report published in 2017. Of course, this was only about a month before new data came available. After all, I'm always late to the party—I've gotten used to it over the years! 😂

Here's a link to a PDF summary of the latest data, published in September of 2020.

Because I found this information interesting the last time I ran across it, I've updated the net worth chart, based on the new data:

Just like last time, remember that these numbers typically include home equity. So if you don't have hundreds of thousands of dollars sitting in the bank, don't despair!