Don’t Follow Your Passion

Why Some Careers Are A Gamble Don’t follow your passion. Actually…it depends. If your passion is in an industry with a wide distribution of economic outcomes, then you might want to consider a different line of work. Let me explain. It seems obvious that certain occupations are less equally distributed in terms of financial outcomes than…

Why Manufacturing Jobs Aren’t Coming Back

One Chart Explains It All There has been a lot of talk lately in the media about bringing manufacturing jobs back to America. Regardless of the politics involved with this, both sides of the aisle tend to believe that we can revive employment in U.S. manufacturing. The problem is that the data tells a much different…

Average Net Worth by Age and Education Level

Are you saving enough? What is the state of your financial health? The best way to tell is through your net worth. Your total assets minus total liabilities. More simply: what you have minus what you owe. Despite the simplicity of this calculation, most of the net worth calculators and comparisons I have found online…

Retirement in America

Optimism in the Face of Insolvency Americans have an unbridled sense of hope for their futures despite economic realities that seem much more grim. An article published by the Atlantic in 2015 (see here) illustrated the optimism of Americans, which is higher than any other developed nation. While I do tend to fall into this…

How Hedge Funds Get Rich

(Hint: It’s Not Their Returns) I used to think that those that ran hedge funds got rich because of their incredible returns. Then I heard about the 2 and 20 fee structure that most hedge funds charged. The typical hedge fund fee structure (historically) is 2% of assets under management and 20% of all positive returns….