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It's a Head's Up to the Nation's Many Passive Investors

Harper's magazine takes a look at popular index funds, and hears from the doomsayers

(Newser) - Like a lot of Americans—an increasingly growing number, in fact—Andrew Lipstein is a passive investor. Broadly speaking, this kind of investing is "a buy-and-hold strategy using index (or similar) funds to match the overall performance of the market," writes Lipstein in the new cover story at...

We Throw Out a Massive Number of Coins Each Year

And one company is scooping them up by the millions

(Newser) - Americans' coins don't just end up between the couch cushions. They also land in the trash, in great quantities, a fact that sustainable-waste processing company Reworld is taking advantage of. The Wall Street Journal profiles the company's now-seven-year effort to retrieve coins from our waste. "At a...

Americans Are 'Just Not Wired to Save' Money

New Bankrate survey finds less than half in the US have $1K on hand for emergencies

(Newser) - Just got hit with a hefty medical or car repair bill and aren't sure how you're going to swing it? You're in good company, according to a new survey from Bankrate , which reveals that most Americans are woefully unprepared for a crisis, reports USA Today . The financial...

Maybe Our Money Should Expire
Maybe Our Money Should
Have an Expiration Date

Maybe Our Money Should Have an Expiration Date

Noema explores the concept put forth by a long-ago German economist

(Newser) - It's a novel thought experiment: What if our money had an expiration date? In Noema , Jacob Baynham explores the idea and how it would transform the very idea of what money is, or should be. As Baynham explains, a German economist named Silvio Gesell proposed the idea more than...

Can $500 a Month for a Year Change a Life?
What Happened When Chicago
Gave Her $500 a Month

What Happened When Chicago Gave Her $500 a Month

A look at how one woman's life was impacted by the yearlong Resilient Communities Pilot

(Newser) - You hear about them every so often: pilot programs that give a select group of people a guaranteed income for a specific amount of time in a quest to see if such an approach can make a difference in the fight against poverty. In a deep dive for Chicago Magazine ...

Employers Willing to Pay Nearly $1M for AI Jobs

Salaries on job advertisements are going through the roof

(Newser) - Recent reports like this one from Futurism about the AI "bubble" popping notwithstanding, some companies are willing to pay big bucks for a brain that can truly understand the best uses of artificial intelligence. The Wall Street Journal reports that major employers are chasing data scientists and experts in...

Growing Number of Americans Tapping Into 401(k) Plans

According to data from Bank of America

(Newser) - There's been an uptick in the number of Americans turning to their 401(k) plans to help with financial woes, according to data released by Bank of America. CNN reports the banking giant saw a 36% increase in "hardship" withdrawals in Q2 as compared to the same period a...

One Telling Stat Illustrates Americans' Money Worries

Nearly 8 in 10 in 'WSJ' survey aren't confident their kids will be better off than them

(Newser) - A new poll offers a snapshot of how Americans are feeling about their financial security, and the mood isn't a pleasant one. Maybe the most telling stat from the survey by the Wall Street Journal and the National Opinion Research Center:
  • 78% of respondents say they're not confident

Unusual Experiment Suggests Money Can Buy Happiness

Unless you make $123K a year

(Newser) - The debate over the assertion "money can't buy happiness" is usually a hypothetical one. But an unusual real-world experiment suggests money can indeed bring happiness, and not just in a fleeting way. As NBC News reports, two wealthy donors teamed up with the TED organization to give 200...

Tech Tycoons Have Had a Rough Year. None Like Zuckerberg

Meta CEO has hemorrhaged $71B since Jan. 1—more than half his wealth

(Newser) - Don't worry, Mark Zuckerberg is still a billionaire—but he's lost many, many of those billions over the past several months. In what Bloomberg describes as a rough year for most tech billionaires, it's been an especially bumpy one for the Meta CEO: He's lost $71...

He Got the Whole Town's COVID Payments. Then He Vanished

Man in Japanese town of Abu took off with nearly $360K mistakenly transferred to him

(Newser) - Last month, more than 450 households in a Japanese town in the Yamaguchi prefecture eagerly awaited COVID relief payments of about $770 each, designed to help families struggling due to the pandemic. One villager received all the payments in his account, however, and he's now disappeared, as has the...

Start Digging in Your Sofa for Much-Needed Coins

Businesses across the US are begging people to put spare change into circulation amid shortage

(Newser) - Got a dime you can spare? Retailers, laundromats, and other businesses that rely on coins want you to turn it in, along with any other spare change in piggy banks or under couch cushions, as coins are in short supply again, the AP reports. A group of trade associations that...

New 'Remarkable' Women's Quarters Starts With a Big One

US Mint has started shipping quarters with image of poet Maya Angelou, first in a series

(Newser) - The United States Mint said Monday it has begun shipping quarters featuring the image of poet Maya Angelou, the first coins in its American Women Quarters Program. Angelou, an American author, poet, and civil rights activist, rose to prominence with the publication of I Know Why the Caged Bird Sings...

Money Flies Out the Back of Armored Truck on Freeway

Police: Turn in the cash or face charges

(Newser) - Drivers scrambled to grab cash Friday morning after bags of money fell out of an armored truck on a Southern California freeway, authorities said. The incident occurred shortly before 9:15am on Interstate 5 in Carlsbad as the truck was heading from San Diego to an office of the Federal...

Powerball Goes 0 for 39, Leading to Massive Jackpot

It's now up to $620M ahead of Saturday's drawing

(Newser) - After nearly four months without a big winner, the Powerball jackpot has climbed to an estimated $620 million, making it the 10th largest US lottery prize ahead of Saturday night's drawing, per the AP . There have been 39 drawings in a row without a Powerball grand prizewinner, dating back...

A Case for Ditching the Career to Embrace 'Lying Flat'

Cassady Rosenblum writes about the movement in essay for 'NYT'

(Newser) - "Work has become intolerable. Rest is resistance." That's the message of the "lying flat" movement that kicked off in China in April and is now starting to take hold globally as a pushback against the 24/7 hamster wheel of capitalism, detailed in Cassady Rosenblum's op-ed...

Awesome at Hiking, Terrible With Money
Awesome at Hiking,
Terrible With Money

Awesome at Hiking, Terrible With Money

'Outside' writer examines why young, outdoorsy types are typically bad with finances

(Newser) - In an essay at Outside magazine, Gloria Liu explores a phenomenon that hits close to home for herself: Young, outdoorsy types tend to be terrible with money. Liu, now in her late 30s, uses herself as Exhibit A, but she notes that many of her friends also fit the description....

Bezos Leaves CEO Post With a Pretty Penny in His Pocket

Amazon founder is worth $201.8B—about 740,000 times median net worth of an American at age 65

(Newser) - Jeff Bezos may be giving up his CEO title , but he'll hold onto world's richest man honors, at least for now. The Amazon chief officially hands over the reins Monday to Andy Jassy, the head of the company's web services, but not before amassing a net worth...

Harry Said He and Meghan Were Cut Off. Now, a Royals Account

Clarence House spokesperson says Prince Charles funded Sussexes into summer of 2020

(Newser) - When Prince Harry and Meghan Markle's interview with Oprah Winfrey aired in March, one of the claims the Duke of Sussex made was that they'd been cut off financially by the royal family in the first quarter of 2020 and were forced to use an inheritance from Harry'...

Iconic 'Doge' Meme NFT Breaks Record at $4M
'Doge' Meme NFT
Sells for Millions

'Doge' Meme NFT Sells for Millions

The original dog's owner will donate some of the proceeds to charity

(Newser) - Taking a picture of your adorable dog and posting it so other people can admire her, too, is usually its own reward. But Atsuko Sato, a kindergarten teacher in Japan, is also getting a record-setting $4 million worth of Ethereum after selling it as an NFT, NBC News reports....

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