Category Archives: Media & Culture
The Retirement Myth
“Only 58% of us are even saving for retirement in the first place. Of that group, 60% have less than $25,000 put away … a full 30% have less than $1,000.” According to Nielsen Claritas, Americans age 55 to 64 have a median net worth of $180,000 — less than they’ll likely need for health care spending alone during retirement. — According to ConvergEx Group
“The entire concept of retirement is unique to the late-20th century. Before World War II, most Americans worked until they died.”
“According to the Centers for Disease Control’s actuary tables, someone born in 1950 could expect to live to age 68.2, while someone born in 2010 could expect to live to 78.7.”
Who are your heros?
“If you tell me who your heroes are, I’ll tell you how you’ll turn out.”
I’m not as smart as Warren Buffett but I might be as lucky.
“When you work with people who are already rich, they’ll work because they choose to do so, ‘rather than being on a yacht somewhere.’ But you don’t have to be rich. Buffett says that while it make take a job or two to get there, you should do the work you love.”
“Just imagine you could be given 10 percent of the future earnings of one person you know,” Buffett says. Would you pick the smartest person? The fastest runner? No, Buffett says: “You’re going to pick the person that has the right habits.”
News is bad for you
“News is to the mind what sugar is to the body. Unlike reading books and long magazine articles (which require thinking), we can swallow limitless quantities of news flashes, which are bright-coloured candies for the mind.”
“News stories are overwhelmingly about things you cannot influence. The daily repetition of news about things we can’t act upon makes us passive. It grinds us down until we adopt a worldview that is pessimistic, desensitised, sarcastic and fatalistic.”
“There is no news industry”
“If the public can speak directly to one another in large groups and with high visibility, then the self-definition of a journalist as a privileged translator takes a big hit. If you think of yourself as a member of the only class allowed to find and explain information, you find yourself in a very uncomfortable position.“
“The easiest way to get people in institutions to do interesting new things is for that institution to go bankrupt and for those people to change jobs.”
“Anything in the news business that can be commodified will be commodified. The people who cling to the idea that humans are required to rewrite wire service copy are spending money that no longer needs to be spent.”
From an interview with Clay Shirky by The Europlean Magazine