Howdy, This South Park clip is what investing in April has felt like. I invested money last month and then watched my balance go down and down some more. It sucks, but it’s an important reminder that everything is cyclical. Investing has its ups and downs, and the economy goes through regular periods of booms and busts. It’s also an important reminder that sometimes obsessing about security can breed insecurity. The idea of security, financial or otherwise, is an illusion. Human life is inherently insecure – of course, for some, insecurity is much more of a daily reality than others. Accepting the reality of uncertainty doesn't mean we shouldn't be prudent when it comes to risk, and be diligent with our financial habits. We should recognize that at some tipping point, the more we try to grasp and obsess about security, the more quickly we will reach a point of diminishing returns. It makes me wonder if, at a certain level of income and wealth, the desire for security and feelings of insecurity, are essentially the same thing? Your friend,
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1. 🤔 Should Couples Merge Their Finances? (The Atlantic) Couples’ choices about how to share money require trade-offs between togetherness and autonomy. I weighed in. 2. 😣 Why thinking about inflation leads to more inflation (The Hustle) 3. 🍹 How is AriZona Iced Tea still 99 cents as inflation soars? (Los Angeles Times) 4. 🤦♀️ ‘My Boyfriend Lost $14K Trading Crypto. What Should I Do?’ (The Cut) 5. 😎 Rags-to-Riches Stories Are Actually Kind of Disturbing (The New York Times) If “Pretty Woman” was a Cinderella story for the “American Pyscho” era of corporate raiding, its hero wearing his aggression on his sleeve, “Fifty Shades” is one for the “Dark Money” era. 6. 🤓 A bookkeeping thing - Keep Your Business & Personal Finances Separate (HYG Original) Some of you may have felt the pain of recently prepping your taxes with commingled data. A friendly reminder to separate them for 2022 — what’s left of it. 7. 🤑 The (Edited) Latecomer's Guide to Crypto (Molly White, et. al) Here, a group of around fifteen cryptocurrency researchers and critics have annotated, fact-checked and critically questioned Kevin Roose's NYT piece titled "The Latecomer's Guide to Crypto" that was linked in last week's newsletter. 8. 🤴 How the ‘Homeless Billionaire’ Became a Philosopher King (The New York Times) “Capitalism has proved to be highly effective at raising living standards, but it is a system that gives people an incentive to excel, and a few are always going to prosper to a disproportionate degree. Rather than punishing these ‘outliers,’ a better solution would be to let the rest of society benefit directly from their success. Specifically, he believes that the public, through a sovereign wealth fund, should be given a substantial equity stake in start-up companies. It is a form of ‘predistribution,’ a concept popular among center-left policy wonks, and one that the Berggruen Institute endorses; the idea is to share the wealth up front, rather than trying to redistribute it after the fact. ‘As opposed to taking away from the outliers,’ Berggruen says, ‘you’re giving everyone else a stake in the success of these outliers.’”
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The Studio at TFD presents: The Financial Independence Summit is a digital summit to help you to start funding the life you want. It’s on May 14. I’ll be chatting alongside some other finance experts on a panel and giving a short talk about the art of getting paid on time. Details and tickets here. Get a $10 discount with the code HELLYEAH.
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Tired of doing money alone? Join Bosque Money to cultivate skills, knowledge and practices to be confident with money. Dismantling oppressive systems is more fun with friends!
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