Money and morality tales

Years ago, the authors of The Millionaire Next Door made a splash with what should be an obvious point: being a millionaire amounts to having a certain net worth. Since most consumer goods are not actually appreciating assets, having a high net worth requires spending less than one makes on consumer goods. The difference between what one earns and one spends… read more »

The frictionless labor market

There are two labor markets: the W-2 one, and the 1099 one.
W-2s are the tax forms you get if you’re on someone’s payroll. 1099s list “miscellaneous income” — often payment for freelance gigs. These days, the latter market seems to be growing. As part of the analysis surrounding last Friday’s unemployment statistics, the Wall Street Journ… read more »

America’s best days

I recently read Laura Hillenbrand’s Seabiscuit. I certainly enjoyed the book as a sports story, but I also enjoyed learning about that period of time in American history. Charles Howard, Seabiscuit’s owner, made his money in the auto business. At the time he started, transportation options were greatly in flux. Cars were the noisy, inefficient playt… read more »

The New Tupperware

A few years ago, I went to a Tupperware party in a friend’s apartment. It was a somewhat surreal experience. The official Tupperware representative was a middle-aged suburban woman sent in to this tiny apartment filled with Manhattan 20-somethings, most of whom  — or perhaps all of whom — had never been to such a thing before. What I remember… read more »

The 4-Year Career

Over at Fast Company, Anya Kamenetz has a fascinating article on “The Career of the Future.” Complete with timelines of several people’s working lives, the piece claims that the median tenure of a worker on the job these days is 4 years. Forget lifetime employment. Now we have 10-11 jobs apiece. How do you navigate that world?
Strategic j… read more »