Today’s bits: Travel to world; We think we are better investors than we really are; 17 Traits that successful kids possess

Careers

Travel the world year round

travel the world

Image credit: pieter musterd

Living the dream? – Would you want abandon all your worldly possessions and travel the world? For some people this is a dream, for others, it’s a reality, but it does have its ups and downs. Listen to the story of a couple who are doing it:

Those 17 traits that successful kids possess

Science says parents of successful kids have 17 things in common – Good parents want their kids to stay out of trouble, do well in school, and go on to do awesome things as adults. And while there isn’t a set recipe for raising successful children, psychology research has pointed to a handful of factors that predict success. Unsurprisingly, much of it comes down to the parents. Click here to see what parents of successful kids have in common.

Investing

We think we are better investors than we really are

Can you beat the market? – Despite the spectacular growth of index funds — passive investment vehicles that track market averages and minimize transaction costs — millions of amateur investors continue to actively buy and sell securities regularly. This despite overwhelming evidence that even professional investors are no more likely to beat the market than monkeys throwing darts at securities listings. Why do we keep trying? We think we are better investors than we really are.

Is your financial advisor working for you?

One many a occasion, I’ve written: You Don’t Need a Financial Advisor. A financial advisor seems to agree somewhat. He suggests, “In almost 17 years of counseling thousands of investment advisors, I have never seen an advisor construct their business in such a way as to be free of all conflicts of interest.”

$1 million or $5,000/month?

I was chatting with a neighbor this morning. For the past two or three years, he’s been thinking about retirement. He planned on retiring in December of this year. Now that he’s only eight months from the big day, he’s getting a bit of cold feet. He’s concerned about whether he’ll have enough money. What was surprising to me was his realization that he doesn’t know how much money he has, thus he has no idea whether he’ll have enough money to retire. Lump sum or annuity: Would You Rather Have $1 Million or $5,000 Monthly in Retirement? – Your answer to this question will tell you whether you suffer an “illusion of poverty” or an “illusion of wealth”.

Credit Cards

Airlines make more money from miles than seats

Airlines are earning upwards of 50 percent of their income from selling miles to a credit card company. Delta, for example, expects that its American Express partnership will yield $4 billion in revenue per year by 2021, rising by more than $300 million annually until then. This translates to a very high profit margin.

Credit card annuals fees

Are Credit Card Annual Fees Worthwhile? The best credit card deals are often spoiled by an annual fee. Annual fees can range from about $50 to $2,500, with the high end reserved for the super-select American Express Centurion Card (the “black card”). In return for this fee, credit card issuers provide a range of benefits beyond what typical no-fee cards offer. These include perks like free gifts, a travel agency, and a personal concierge.

Credit card debt: $1 trillion

Have you been paying off your credit cards every month? – If you have, congratulations. Unfortunately, many of you haven’t been. Credit card debt reached $1 trillion last year, according to the Federal Reserve, returning to a level not seen since 2008 as the Great Recession was gathering force.

2 Comments

  1. Ramswaroop pd singh April 10, 2017
  2. David L. Wright April 10, 2017

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