Wednesday Reading
Here's a look at some of the articles and news I've been reading today, including items about "the good life," psychopathic bosses, and a new millionaire in the making.
Forbes takes a look at what the good life costs, with the "good life" being a nice house, good education for the kids, and a summer home. In the Northeast, my region of the country, it will cost at least $215,000 a year (after taxes and savings). That's enough to make most families give up on the "American Dream." View the slideshow for details.
Fast Company asks, Is Your Boss a Psychopath? "There's evidence that the business climate has become even more hospitable to psychopaths in recent years."
A quiz accompanies the story, to help workers determine if their supervisor is, in fact, a psychopath. The quiz features questions like "Is he a pathological liar?" and "Is he callous and lacking in empathy?"
I have to say that the latest installment of CNN's "Millionaire in the Making" series, Denise Vincent, is less than inspiring. She has a good amount of savings built up, but most of her worth is in her home equity. Not to take anything away from Denise, who I am sure has worked hard, but it seems the only reason she's "on her way" to the millionaire's "club" is because of her home appreciation; she has only paid off $10,000 of her mortgage in ten years! (Meanwhile, she says, "People with lots of debt are unattractive to me." I can only assume she meant "credit card debt" and not "mortgage debt.")
Her spending habits aren't laudable. She is pleased with her purchase of a new 2004 Mini Cooper for $24,000 without negotiating away from the retail price, and although she works out every day, $35 a month is a lot to spend on a gym membership. Of course, all that matters is her opinion, and she seems to be happy with her choices.
The Carnival of Personal Finance #1 was a success -- get ready to submit your articles to Blueprint for next Monday's edition.
CNN.com (which of course includes CNN Money) now offers its video features for free. Unfortunately, my company's proxy server blocks access to the content, but nevertheless, this is a great move by CNN.
Now all they need are better permanent links to the video streams and a trackback feature for every story.
This post was brought to you by Consumerism Commentary. Click here to read comments or leave one.
Easy Loans Easy loans mean a hard landing later. There's some talk in the article about the real estate bubble, but more importantly, the way banks are giving loans out to people is likely to create some problems when rates eventually get higher. Comments? (2 ... Read
Many years ago, as a reader of The Motley Fool, I came across a community of people who repeatedly jump from one 0% APR credit card offer to another 0% offer. It sounds like a good way to maintain a credit card balance without paying ... Read
In New York City, police have arrested two men accused of using card skimmers to steal account numbers and PINs from a Bank of America branch, taking $2,500 from ATMs. Read
