Today’s bits: Common cents, uncommon Oscars

New club teaches students the ‘Common Cents’ of personal finance

A new Wharton club has launched to teach students the “Common Cents” of personal finance. Founded last semester, and currently only for graduate level students, Common Cents aims to provide personal finance help to its members. This semester, the club started programming and plans to host a series of events to address topics like investment strategies, real estate investment and retirement planning. Next year, it will be available for undergrads as well. I applaud this! …. but shouldn’t MBA student already have personal finance skills?! 😉 (The Daily Pennsylvanian)

Are you contributing 8.4% of your salary?

The average American is working harder than ever, and thanks to increasing wages, Americans are contributing more money to their 401(k) plans than since the Great Recession. According to Fidelity Investments, the average worker contributed 8.4% of his or her income to a 401(k) in the fourth quarter. Are your contributions keeping pace? (TMF)

To Roth or not to Roth? That is the question

Retirement planning is tricky. You’re trying to save as much as possible for your future. You’re looking for appropriate investments. That’s enough, right?

You also need to consider the tax consequences of different retirement accounts. That means choosing between a Traditional or Roth IRA/401(k).

There’s an overwhelming desire to pay lower taxes now.  Deferring taxes on current income is why Traditional IRAs and 401(k)s are popular. (The Denver Post)

A New Kind of Jobs Program for Middle America

Code schools and boot camps that teach computer programming skills prove they can rapidly retrain American workers for the 21st century.

If you told me several years ago that I was going to be a computer programmer and working for a software company I wouldn’t have believed you.

A former shipping manager at a printing company had never taken a computer-programming class in his life, but by the time he finished an intensive 12-week, $13,750 program, he had a job with a maker of rail freight software.

There are coding camps popping up all over. Coughing up nearly $14K may be a big chunk of change for most people, but if it results in a new higher paying career, it may be a worthwhile investment. (WSJ)

Millionaires on the move

Last year, a record 82,000 millionaires moved to another country. While their numbers are a small fraction of the world’s migratory population, and of the world’s millionaires, wealthy people are being courted by host countries like never before. The number of millionaires moving to another country jumped 28 percent in 2016 and is up 60 percent since 2013.

Where are they going?

Australia is now the world’s top destination for millionaires, beating the United States for the second straight year. An estimated 11,000 millionaires moved to Australia in 2016, compared with the 10,000 who moved to the United States. Canada ranked third, with 8,000, followed by the United Arab Emirates and New Zealand.

Who’s moving?

France tops the list, with 12,000 moving out during 2016. China ranked second, with 9,000, followed by Brazil, India and Turkey.

One if by land…

A growing number of people are living on cruise ships. One 67 year old man, spends most of his time on cruise ships. Over the past 20 years, he has been on 950 cruises and logged 7,000 “cruise days” at sea.

Is it expensive? In total this 67 year old man spends almost all 52 weeks of the year at sea, at a cost of about $70,000 per year.Some people have determined that staying at sea may be no more expensive than staying in a retirement home.

A 2004 study in the Journal of the American Geriatrics Society concluded that 20 years in a retirement home for someone entering at age 65 would cost an average of $228,075, as opposed to $230,497 for the same amount of time aboard a cruise ship.

– source: NYT

Chart of the Day


The winner is La La Land …. no, wait, it’s Moonlight …. no wait, it’s Disney!  With the two biggest box office movies of the year, Disney films broke box-office records in 2016 having grossed almost $2.5 billion.

Would you rather win the Best Picture Academy Award or win the box office competition?

Infographic: Critical Acclaim vs. Commercial Appeal | Statista You will find more statistics at Statista


Image source: Flickr/Shelly

Add Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.