Summary of “Don’t cheat yourself with the 4% rule”

It’s a rule of thumb that says you can withdraw 4% of your portfolio value each year in retirement without incurring a substantial risk of running out of money.
Unless we see the return of a Great Depression era, followers of the 4% rule “Will most commonly just leave a huge amount of money left over,” says Michael Kitces in his research piece, entitled “How Has The 4% Rule Held Up Since The Tech Bubble And The 2008 Financial Crisis?”.
In addition to being incredibly conservative, the 4% rule does not consider other sources of income you have and the timing of when each source begins.
Why scrimp by only withdrawing 4% of your portfolio while waiting for Social Security? It often makes more sense to withdraw more than 4% during that window of time – yet many retirees won’t do this because the popularized rule of thumb has made them fearful that they’ll run out of money if they don’t follow the rule each year.
It’s much easier to write about a rule of thumb or sensationalize the latest stock market gyration.
Be cautious of a financial adviser who uses a rule of thumb to determine your retirement withdrawal amounts.
There is nothing unprofessional about using a rule of thumb to set broad, general expectations.
Retirement is the biggest financial decision you’ll make and you need a customized plan, not a rule of thumb.

The orginal article.

Summary of “Will Ichiro Be Our Last Universally Beloved Superstar?”

Ichiro will go down as one of the greatest ballplayers of all time, both in his native Japan and in his adopted U.S. His accomplishments in either leg of his career are dizzying in their extremes.
Ichiro was something even rarer, perhaps, than a generational baseball talent: He was, and is, universally beloved.
To watch Ichiro was to take delight in baseball, even if he was speeding past your infielders.
“He’s really nervous right now,” his interpreter explained to Jordan as Ichiro giggled and covered his face.
The sum of our knowledge of non-baseball Ichiro doesn’t go much beyond the fact he is married and loves dogs.
Part of this mysteriousness, surely, has to do with a language barrier: Ichiro has spent the better part of two decades in a country whose language he did not speak when he arrived, becoming in the process MLB’s first Asian superstar.
How could you resent someone whose most heartily expressed opinion is a love of baseball? Ichiro was everything to everyone, a superstar who could be anything you wanted him to-and do everything, to boot.
For now, we’re getting an exit so calculatedly understated and graceful that you can’t help but admire it-a thoroughly Ichiro way to say goodbye to the plate.

The orginal article.

Summary of “The Most Unlikely D.A. In America”

CORPUS CHRISTI, Texas-A year into Mark Gonzalez’s first term as district attorney of Nueces County, Texas, hardly anything in his office is unpacked.
“Mark is emblematic of so many people’s dreams,” says Matt Manning, the first assistant for Gonzalez’s office, who has worked with him since 2014.
Gonzalez made the pitch even clearer to Manning: “If I become DA-if we become DA-with a stroke of a pen, we can help thousands of people, people like us, who need the help,” Gonzalez recalls.
In the hours after the final projections were made, Gonzalez’s mother and brother knocked on his door, found it locked, and made their way into his house through the garage.
“We didn’t know what happened,” Janna Gonzalez says, thinking the scene was a dream.
” Still three-quarters asleep, Gonzalez was trying to make sense of what they were saying.
At the crest of the wave was Mark Gonzalez, the unlikely new DA in Corpus Christi.
On the TV above the fireplace, “Live with Kelly and Ryan” is playing as Gonzalez plays with his 6-month-old daughter, drinks coffee out of a yellow mug marked with the Gadsden flag, and eats eggs and deer sausage.

The orginal article.

Summary of “How Investing $100 a Month Can Be Life-Changing”

Here’s where most articles will take the average return of the stock market – between 9% and 10% per year – and simply use that to show you how your money will make a straight line up over time.
To put the importance of time in perspective, here’s how much would be sitting in your nest egg if you started investing $100 – adjusted for inflation – over different time frames.
If you started investing $100… Then your nest egg would have… 45 years ago $175,100 40 years ago $150,600 35 years ago $114,500 30 years ago $80,400 25 years ago $57,400 20 years ago $40,500 15 years ago $32,000 10 years ago $21,400 5 years ago(2012) $9,300.
Here’s how much money you’d have, in constant dollars, if you start putting away $100 every month and earn a steady 7% every year.
Crucially, the stock market – on average – returns 10.8% per year.
Between the two of them, you are allowed to put away up to $5,500 per year, but that shouldn’t be a concern since right now you’re just shooting for $100 per month.
Since you are likely a beginner looking to get the broadest exposure to stocks, I think your best bet is to put your $100 per month into shares of the Vanguard S&P 500 ETF. By owning shares, you pay a very small 0.04% expense fee per year, have exposure to the 500 largest stocks in the United States, and receive a modest 1.8% dividend yield.
You are giving your money the gift of more time to compound compared to cash you put away a year – or a decade – from now.

The orginal article.

Summary of “America’s Elderly Are Losing $37 Billion a Year to Fraud”

Her family didn’t realize something was wrong until she started asking to borrow money, a first for a woman they admired for her financial independence.
One financial services firm estimates seniors lose as much as $36.5 billion a year.
Now co-chief of the Division of Geriatrics and Palliative Medicine at Weill Cornell Medicine and New York-Presbyterian Hospital, Lachs says elder abuse victims-including those who suffer financial exploitation-die at a rate three times faster than those who haven’t been abused.
“Financial exploitation causes large economic losses for businesses, families, elders and government programs, and increases reliance on federal health care programs,” warned a 2014 elder justice report Connolly helped prepare.
In February, the Justice Department announced “The largest coordinated sweep of elder fraud cases in history,” charging more than 250 defendants with schemes that caused 1 million mostly elderly Americans to lose more than $500 million.
Thirty-nine of them and the District of Columbia addressed financial exploitation of the elderly in last year’s legislative sessions, according to the National Conference of State Legislatures.
The dirty little secret about elder exploitation is that almost 60 percent of cases involve a perpetrator who is a family member, according to a 2014 study by Lachs and others, an especially fraught situation where victims are often unwilling, or unable, to seek justice.
While many families don’t intervene when they suspect a family member is abusing an elderly relative, Philip Marshall did, in a famous example of elder exploitation.

The orginal article.

Summary of “A Fast-Food Problem: Where Have All the Teenagers Gone?”

“What employees? We don’t have them anymore,” joked Mr. Miller, who can’t find enough workers for the three Subways he owns in Northern California.
Restaurant owners are also worrying about increased immigration enforcement: Nearly 20 percent of workers are foreign-born.
Fast food is feeling the pinch acutely, especially as one important source of workers has dried up.
At $10.93 an hour, the pay is still less than half the average for an hourly employee, pushing companies to offer more incentives – like dental insurance, sign-up bonuses and even travel reimbursement – to entice workers.
That’s good news for workers like Juan Morales, who has assembled sandwiches at a Subway on Staten Island for more than 15 years.
Mr. Haskell analyzed public financial filings from 15 major chains and determined that those companies spent about $73 million more on labor last year than the year before.
McDonald’s has announced that it will expand its tuition-reimbursement program, committing $150 million over five years to tuition reimbursement for employees who work at its stores for at least 90 days.
Replacing workers is also expensive: It costs about $2,000 to replace the average hourly restaurant worker, according to data from TDn2K. “Thirty years ago, I would not put up with the stuff I put up with today,” said John Motta, a longtime Dunkin’ Donuts franchisee in Nashua, N.H. When an employee recently missed a shift, one of his stores could serve only drive-through customers for about an hour.

The orginal article.

Summary of “Bob Dylan’s Latest Gig: Making Whiskey”

Heaven’s Door is meant to conjure a broader idea of Mr. Dylan that is part Renaissance man, part nighthawk.
Mr. Dylan is entering the craft whiskey market as the business is exploding.
Mr. Bushala said that over four or five meetings – always at Mr. Dylan’s metalworking studio in Los Angeles – and a number of phone calls, he had learned that his partner has a sophisticated whiskey palate.
The first, a 25-year-old whiskey, will be released next year and cost about $300. The idea of Mr. Dylan’s being connected to a commercial venture always activates some level of outrage, as it did in 2014 when fans cried “Sellout” for his involvement in two Super Bowl TV ads: one for Chobani yogurt, which used his song “I Want You,” and another for Chrysler, in which Mr. Dylan recited a patriotic script about the car industry.
Mr. Dylan has never shied from commercial deals, and in the long run they have barely grazed his reputation.
Ten years later, Mr. Dylan was mocked for appearing in a Victoria’s Secret commercial.
According to Nielsen, more than 20,000 kinds of spirits are sold in the United States, and last year there were 27 percent more whiskeys on sale than in 2013.Mr. Bushala said that in their first conversation, he had told Mr. Dylan that “Whiskey drinkers are a very cynical crowd” and that the success of their enterprise would depend on the quality of the product, not Mr. Dylan’s image.
A few months after their first meeting, Mr. Bushala said, he had a scare when Mr. Dylan was announced as the winner of the Nobel Prize in Literature – and then waited weeks to acknowledge the honor, leading to speculation that he might not accept.

The orginal article.

Summary of “The Great High School Impostor”

What Artur Samarin pulled off at a school in small-town Pennsylvania is one of the boldest hoaxes of our time.
He’d come a great distance-5,000 miles from Nova Kakhovka to Harrisburg.
Artur gradually opened up and expressed his disillusionment with the realities of the exchange program-that much as he’d hoped it might serve as a springboard to college, it really was just a temporary tease of an American life.
Of course he knew how he’d come to live the life he’d lived these past four years in Harrisburg, the masquerade he’d co-engineered, the pretenses under which he’d pulled it off and worked his way ever closer to the simple burning dream of admission to an American university.
He didn’t yet understand the extent to which he’d faltered, or the fact that the Pottses were accusing him of much more than just enrolling at the high school.
More significantly authorities began looking into a relationship he’d had with a fellow student at the high school, a relationship that would’ve been appropriate if he was who he said he was but was wholly inappropriate-and severely illegal-given his true age, exactly five years older than he’d purported to be in school.
The ten-hour flight home might have been a final sloughing off of the skin of that person he’d pretended to be for four years.
No matter how hard he tried to demonstrate enthusiasm, they were ghostly flavors in his mouth compared with what he’d tasted in the United States, the feast he’d been served on his “Silver plate.”

The orginal article.

Summary of “The Year I Learned to Quit”

Last year I walked away from what, on paper, was the dream job I had been striving toward for most of my career: I had been working in corporate social responsibility for 15 years, and got the chance to lead that function for Amazon.
I ran my first marathon while writing my first book the year after I had twins, for goodness sake.
For the first time, I’ve walked away from half-finished drafts of writing that didn’t flow.
“The bears don’t go, ‘Oh, man, I gotta hibernate, I don’t have time! I’m a little too busy to go dormant this year, but I’m sure I’ll do it next year.'”.
Mr. Muller also writes about the ancient Greeks’ notion of kairos, roughly translated as the right or opportune moment: “They had an understanding that there was a difference between clock time and the experience of living in time,” he told me.
“Clock time had its own kind of military pushing-through, in spite of whatever showed up; whereas kairos is the time willing to be stopped by the unripeness of that subject at that moment.”
Am I still angry about bailing on Big Sur after months of prep, and experiencing regular waves of doubt about quitting that and everything else that I’ve quit in the past year? Of course.
I’m learning to be content with putting my feet up, and rest in what Mr. Muller calls the “Hammock of sufficiency.” I can always try again next year.

The orginal article.

Summary of “The 6 Questions I Ask Before I Say ‘Yes’ to Anything”

It’s okay to value your time and energy – in fact, it’s important.
While I really do love that someone wants to hear my message, I’ve learned how much effort goes into every time I get on stage and the true value that I bring.
Give yourself permission to value your time, even if that means turning down unpaid work.4.
Now, my team is 10 times more productive than I ever was as a solo-entrepreneur.
Beyond my physical time, I’ve allowed comparison and anxiety to completely drain my energy and leave no room for anything creative or meaningful.
Removing yourself doesn’t mean you’re falling behind, it’s actually refueling you to make better use of your time when you’re ready to work.
Most of the time, that space is too cluttered from being overly connected.
Being so hyper-connected all the time, it’s so easy to see snapshots into everyone’s lives and feel like you’re falling behind or you should be doing more.

The orginal article.