How do retirees manage their money? Apparently, very inefficiently. While it seems wise to save your money by only withdrawing the minimum required amount from retirement funds (as mandated by US tax law), an analysis by J.P. Morgan reveals that there’s not much to gain from this behaviour. It doesn’t support the spending habits of retirees, and leaves you with a big balance you’ll never get to use. Instead, they encourage withdrawing as much money as needed to upkeep spending habits, making better use of your savings. Read full article here
Culture
The Priest in the Arena
The phrase “man in the arena” has been popularized in recent years, but a lesser known, more dangerous archetype is the “priest in the arena”. This figure is responsible for a process called theocratic capture, where an institution surrenders to a cult demanding unaccountable authority, fueled by claims to privileged knowledge. These cults often target powerful institutions and attempt to monopolize conversations with scaremongering tactics and hostile treatment of allies. It is important to identify and stop theocratic capture before it can gain control. Read full article here
Merv
May 29, 2023
