Money

Generational Differences in Savings and Politics

Curated by CLAI

MILLENNIAL SAVE MORE: Millennials are more likely to have at least five months of living expenses saved. They tend to have lower expenses. They don’t have to put away as much because they are likely living at home with their parents or have roommates.

30 and 49 are more likely than any other age group to not have an emergency fund because those are the years they have a house, two or three kids and a dog. But they need the emergency savings more than anybody.”

Politics by Age

Politics by Age (NYTIMES)

POLITICS BY BIRTH YEAR: Events at age 18 are about three times as powerful as those at age 40, according to the model.

  • Silent Generation (1941): By the time Eisenhower left office in 1961, people born in the early 1940s had accumulated pro-Republican sentiment that would last their entire lifetimes.
  • Baby Boomers (1952): Childhoods and formative years under Kennedy, Johnson and Nixon left them relatively pro-Democratic.

$130K American Dream & Secret of Success

Curated by CLAI

$130K AMERICAN DREAM PRICE TAG: What it costs to live the American Dream (pre-tax).

 

American Dream Price Tag Chart

American Dream Price Tag (USA Today)

SECRET OF MOTIVATION & SUCCESS: Those with strong internal motives (become a leader) and strong instrumental motives (get a good job later in life) are the least successful. Most successful are those with only strong internal motives, followed by those with only strong instrumental motives.

To Rent or to Buy? This Wine or That?

Curated by CLAI

TO RENT OR BUY?

Is it Better to Rent or Buy?

Is it Better to Rent or Buy? (NYTimes)

TOP 20 SUMMER WINES UNDER 20

  • Ameztoi Getariako Txakolina 2013: Txakolina is the national drink of Spanish Basque country, where a vast amount is consumed every summer. This particular version is from the Getaria region, where the Txakolina tends to be slightly fizzy and low in alcohol, encouraging plenty of thirst-quenching chugging. The Ameztoi is fresh and slightly briny, with flavors of lemon and lime. It calls out for sardines, anchovies and all manner of seafood.
  • La Rioja Alta Rioja Viña Alberdi Reserva 2007: Viña Alberdi is a great value in Rioja from an old-school producer that still ages the wine before releasing it. It’s well shaped and structured with classic Rioja flavors of spicy red fruit framed by the mellow vanilla of American oak. I’m not usually a fan of oaky wine, but in traditionally made Riojas, softened by a few years of age, the flavors just fit.
  • C. von Schubert Maximin Grünhäuser Mosel Riesling Feinherb 2012: Between dry German rieslings and the exquisitely balanced but sweet kabinetts and spätleses lies the nether world of “feinherb,” which in the German scheme of things means not “medium sweet” but “medium dry.” Whatever. This is predominantly dry with a hint of sweetness, a vivacious expression of Mosel riesling that is a mere 11 percent alcohol.
Summer Wines

Summer Wines (Tony Cenicola, NYTimes)

Happier at Work or At Home?

Curated by CLAI

LESS STRESSED AT WORK THAN HOME? Both men and women are significantly less stressed out at work than they are at home. Women said they were happier at work. While the men said they felt happier at home.

  • Those with high incomes, she said, were the only outlier: Both men and women had much higher levels of cortisol at work, and both felt happier at home.
  • What does this tell you? It’s not so much that people prefer to be at work rather than at home or with kids. It’s that trying to do both in the same day is stressful. It’s the juggling that’s killing us.
Workplace

Workplace (Olivier Schrauwen, NYTimes)

WHY YOU HATE WORK: The way we’re working isn’t working. Even if you’re lucky enough to have a job, you’re probably not very excited to get to the office in the morning, you don’t feel much appreciated while you’re there, you find it difficult to get your most important work accomplished, amid all the distractions, and you don’t believe that what you’re doing makes much of a difference anyway. By the time you get home, you’re pretty much running on empty, and yet still answering emails until you fall asleep.

A Tale of Two Schools: Why Is it So Hard to Get Into into the Ivy League?

Curated by CLAI

TALE OF TWO SCHOOLS: Fieldston and University Heights are in the same borough but worlds apart. How much understanding between their students can a well-told story bring? University Heights High School is on St. Anns Avenue in the South Bronx, which is part of the poorest congressional district in America, according to the Census Bureau. Six miles away is the Ethical Culture Fieldston School, with its arched stone entrance and celebrities’ children and $43,000-a-year tuition.

  • Amy: “It’s only my mom and me, and my mother breaks her back to pay bills so we’ll be able to live a decent life. It just makes me want to have two jobs instead of one so she could stop working. I know I can’t do that, though, so I constantly think about college and my career and how much money I’ll make so she can finally stop working. I just want to make her life easier and thank her for supporting me on her own.”
  • Juliet: “We’re trained from a very young age to search for clues about money in the slightest details. And, of course, money matters. It would be untrue to say we spent an afternoon telling each other’s stories and ‘got past that whole difference in class thing.’ But when you tell someone’s story, that’s something precious, and you have to take care of it, you have to take care of them. Afterward, as my partner was making me laugh during all the ‘serious face’ photos, I was really grateful that he had taken as much care with my story as I tried to with his.”
Tale of Two Schools

Tale of Two Schools:
Johnny Rivera. University Heights. Age 18, Grade 12 & Adam Ettelbrick, Fieldston, Age 17, Grade 11 (NYTIMES)

WHY IS IT HARDER TO GET INTO IVIES? One overlooked factor is that top colleges are admitting fewer American students than they did a generation ago. Colleges have globalized over that time, deliberately increasing the share of their student bodies that come from overseas and leaving fewer slots for applicants from the United States.

  • For American teenagers, it really is harder to get into Harvard — or Yale, Stanford, Brown, Boston College or many other elite colleges — than it was when today’s 40-year-olds or 50-year-olds were applying. The number of spots filled by American students at Harvard, after adjusting for the size of the teenage population nationwide, has dropped 27 percent since 1994. At Yale and Dartmouth, the decline has been 24 percent. At Carleton, it’s 22 percent. At Notre Dame and Princeton, it is 14 percent.
  • This globalization obviously brings some big benefits. It has exposed American students to perspectives that our proudly parochial country often does not provide in childhood.
  • The rise in foreign students has complicated the colleges’ stated efforts to make their classes more economically diverse. Foreign students often receive scant financial aid and tend to be from well-off families.
  • After decades of being dominated by male students coming from a narrow network of prep schools, these schools have become a patchwork of diversity — gender, race, religion and now geography. Underneath the surface, though, that patchwork still has some common threads.
Ivy League College Spots for American Students

Ivy League College Spots for American Students (NYTIMES)