Best Of The Web
“The average cost of raising a child until age 18 today is more than $230,000— but that number only gets higher when children leave the nest. In fact, many parents consider it to be the most expensive stage of parenting, according to Merrill Lynch’s new “The Financial Journey of Modern Parenting: Joy, Complexity, and Sacrifice” report.
The bank surveyed more than 2,500 American parents and found that 79% of parents continue to provide financial support to their adult children — contributing to an estimated $500 billion annually. That’s twice the amount they save for retirement — $250 billion annually — according to the report. There are 173 million parents in the US, according to Merrill Lynch.
“When emotions and money become intertwined, parents risk making financial decisions that can compromise their financial futures,” states the report.
Seventy-two percent of parents revealed they put their children’s interests ahead of their own need to save for retirement. On top of that, 63% of parents reported sacrificing their own financial security for their children’s sake. Specifically, Asian, Latino, and African American parents are more likely to give up financial security for their children, the report found.”
JJ Best Of The Web
“America’s economy, thanks to Trump’s deep cuts in taxes and regulations, is powering ahead.”
“Donald Trump has this one right. Democrats have become a party of political radicals.”
“As long as Israel wasn’t explicit about what it meant to be Israeli, it was possible to be entirely Druze and, organically and inseparably, entirely Israeli.”
“Neil Armstrong was a quiet, sensible, level-headed guy, which makes him perfect for flying a spacecraft but not a particularly enthralling movie protagonist.”
“The number of IPOs is declining, and that could mean that small investors are getting shut out of the most lucrative deals.”
“The solution is so simple it’s almost laughable: just make our clouds a little more reflective, so they reflect more of the sun’s light, and thus reduce our heat.”
“Do you send Venmo requests for less than $5?”
“When female novelists write about female characters, or domesticity, or children, they face subtle charges of self-absorption.”
“Forget the game room and formal dining. You need space for aging parents and Airbnb guests.”
“Salt, Fat, Acid, Heat’s Samin Nosrat wants you to get off your butt and cook something.”
“Reality Is just a bunch of hallucinations we collectively agree on.”
“Let’s bring back the Sabbath as a radical act against ‘total work.’”