Richistan

This book examines the lives of the newly wealthy in America. Its a little dated, in that it was written before the recent real estate crash, but apart from that is a very good book. It is readable, interesting, and raises some interesting questions about what will happen with wealth in an increasingly globalized world. The book also does a good job of highlighting the increasing gap between the ultra-wealthy and not just the poor, but the middle class as well. I really enjoyed this book.

[isbn: 9780307341457]

It seems to me that most people don’t save enough for retirement

This article seems to confirm that my parents generation isn’t saving enough for retirement, and I think that’s true of my generation as well. The problem is that it simply isn’t sexy to save money in a super fund, or a 401k as they’re called in the US. I think it’s even worse for the average American though, because the cost of living in the places with the jobs is a lot higher, 401k saving is optional (so people don’t do it as much), and you get direct control over your investments (which means people make poor choices like putting all their money in Enron or Vonage).

Oh, and don’t start me on the complications of earning retirement income in US dollars when I retire. I don’t even want to think about that at the moment.