In 2003, Netflix began an experiment that seemed crazy to management experts. It instituted a policy of unlimited vacation time for its employees. In the years since, a number of other companies have followed Netflix’s lead, offering employees unlimited paid time off. The results have run counter [...]
Budgeting ease
In the past, I’ve talked about asset-liability matching. It’s a concept popular with insurance companies to manage investment risk. It’s a very formal approach and not one I would expect an individual investor to follow too literally. But it’s a notion that, in general, can help individuals make [...]
Gaining clarity
In the world of personal finance, a favorite quote comes from Ernest Hemingway. In The Sun Also Rises, a fellow asks a friend who is down on his luck, “How did you go bankrupt?” The friend replies: “Two ways. Gradually, then suddenly.” Money troubles are a common theme throughout literature. [...]
Threading the needle
This week’s Mega Millions jackpot is projected to top $1 billion. Would you be happy if you won? Last week, I talked about the Vanderbilts. Once the wealthiest family in America, they saw their fortune dwindle because of aggressive spending. Back in the 1890s, for example, the family spent $7 [...]
How to manage a windfall
When Cornelius “Commodore” Vanderbilt died in 1877, he was by far the wealthiest American, with a fortune of $100 million. And in the ten years after Vanderbilt’s death, his son William succeeded in further doubling those assets. It was an astonishing level of wealth. But that’s precisely when [...]
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