If you’re a FIRE parent, one of your biggest concerns might be raising a spoiled and entitled child who takes hard work and money for granted. If this happens, it may feel like a significant failure—not only for your child’s future but also for society, which would have to contend with the consequences of their … Read more
The DART train at Howth station, on the outskirts of Dublin, on May 29, 2022. JC MILHET / HANS LUCAS Greystones, a small coastal town just south of Dublin, was experiencing a particularly rainy end to its November. It seemed that all the visitors had taken refuge in Scéal, a trendy bakery on the marina, … Read more
Back in 2004, I began to research why the rich were rich and why the poor were poor. When I began my Rich Habits research, I had some entrenched negative beliefs about the wealthy that I inherited from my non-rich upbringing. As I learned more about the drivers behind wealth and poverty, however, my perception changed. … Read more
Since the bottom of the global financial crisis in July 2009, the S&P 500 has generally experienced a strong bull market. While there were challenging periods in 2018, 1Q 2020, and 2022, stock market investors have largely been well rewarded. However, Goldman Sachs warns that the good times might be coming to an end. Goldman … Read more
A study from Cambridge University trained monkeys to expect either 2 or 20 liquid treats for completing certain tasks. Think of these rewards as income earned for doing their job. Once those baseline expectations were set, the researchers would unexpectedly give them 4 (instead of 2) or 40 (instead of 20) reward units. The crazy … Read more
