• What are the ramifications of an aging population around the world (Visual Capitalist
  infographic)? Among other elements, it has neat map showing percentage of population in each state over
  the age of 65: 
• Hat tip to Hari (newest NGPF team member) for pointing out this article and interactive about robots taking over
  the workplace (Daily
  Mail):

Researchers have warned that millions of human workers will be
replaced by robots over the next few decades, leaving many to wonder what sectors are most at risk. Now, a website
powered by machine learning has gathered data from an Oxford University report to uncover which positions are likely
to be replaced by machines.

Called ‘Will Robots
Take My Job‘, the tool lets users type in their occupation and provides them with a replacement estimate and
automation risk – it also reveals if ‘you are doomed’ or are ‘totally safe’.

• A good lesson here the importance of failing well; reminds me of the story of Jerry Seinfeld who played small
  clubs (as apparently does Chris Rock) to perfect his comedy routine (Collaborative Fund):

Netflix just announced the cancellation of several expensive original shows. This is also
the kind of thing most media CEOs get mad at and demand a strategy shift. Which is what Reed Hastings did. Except
his demand was that more Netflix shows should fail:

Our hit ratio is way too high right now. I’m always pushing the content team. We have
to take more risk. You have to try more crazy things, because we should have a higher cancel rate overall.

• Another hat tip to Hari about how more people are choosing ride sharing services over car ownership (from Reuters):

Nearly a quarter of American adults sold or traded in a vehicle in the last 12 months, according to a Reuters/Ipsos opinion poll published on Thursday, with most getting another car. But 9 percent of that group turned to ride services like Lyft Inc and Uber Technologies Inc [UBER.UL] as their main way to get around.

• Almost 80% of millennials say student loans are getting in the way of their financial goals (Employee
  Benefit Advisor):

• Teachers, don’t forget to lock your rooms when you leave your personal belonging there. This teacher had her
  credit cards stolen (CBS):

A local teacher didn’t expect an education in stealing, but that is what she got when
thieves stole credit cards from her purse and went on a shopping spree. The suspected thief was
filmed on a security tape using stolen credit cards to buy thousands of dollars of shoes and purses at Bloomingdales in
South Coast Plaza just over two weeks ago. Another woman was seen minutes earlier using the same stolen credit cards
at a Sephora next to Bloomingdales.

• CFPB pushing for more transparency on deferred interest on credit cards (MarketWatch);
  you know, the buy now, pay later promotions that are so popular:

That’s because the card companies charge consumers accrued interest on that promotional balance from the time they made a purchase. For example, a customer might use a deferred-interest card to make a $1,000 purchase. The promotional period may last, for example, one year. If he or she pays back all but $100 of that amount, she would be charged one full year’s worth of interest on the $1,000 charge. And since many retail deferred-interest cards have interest rates of 25% or more, those charges could be significant.

• Been waiting for an article like this given how placid the stock market has been for a long time. The article
  from
  Wealth
  of Common Sense blog asks the provocative question “How are all the newbie investors flocking to index
  investing going to hold up in a bear market?” This is important read for new investors who think they know their
  risk tolerance in an abstract sense rather the emotions that come up when market drops 20% (or more):

Markets always seem easy when looking through the rearview mirror because knowing what
already happened makes us all feel that everything in the past was blatantly obvious. It makes us feel that we would
perfectly navigate those markets if only we had the chance to invest in the same scenario again. Hindsight Capital
LLC never shows any losses, always gets out before the market takes a nose dive and knows exactly how to fight the
last war.

• Why are we constantly coughing up our Social Security number despite its importance to identity thieves (hat tip
  to Abnormal Returns with article from Bloomberg)?
  Learn about the history behind the SSN and how it has become a ubiquitous element in our society:

In its early days, the SSN wasn’t widely treated as sacrosanct. In 1938, a wallet manufacturer in New York, which wanted to advertise how well those new Social Security cards fit into its billfold, used the actual number of its treasurer’s secretary, one Mrs. Hilda Schrader Whitcher. Mrs. Whitcher’s secret identifier (078-05-1120) was soon on display at Woolworth and other department stores around the country.

• Does Amazon lowering it’s Prime membership fees for lower-income customers (NPR)
  mean they are reaching Prime market saturation or are they just going after Wal-Mart customers:

The giant online retailer said in a
statement Tuesday that people who have a valid electronic benefits transfer card — used for programs such as
the Supplemental Nutrition Assistance Programs, or food stamps — will pay $5.99 per month for a year. Amazon is
offering a 30-day free trial for qualifying customers. The typical Prime membership is $99 a year, though people
have the option to pay $10.99 a month. Prime benefits include free shipping, unlimited streaming of movies and TV
shows, and a rotating selection of free e-books and magazines.

Funny thought to ease into the weekend…

The website CheatSheet.com
recently remarked on two indications that you spend too much money on Amazon: 1) Your credit card statements are
full of Amazon purchases. 2) Your living room is cluttered with unopened Amazon boxes.

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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