The latest on millennial entrepreneurs, medical debt, and what to do when early retirement goes wrong
Here are some favorite personal finance reads from around the web this week.
Start-ups aren’t cool anymore
–The Atlantic
Recent data reveals entrepreneurship has fallen to a quarter-century low among millennials, who apparently would rather climb an existing corporate ladder than build their own. Why? A lack of personal savings due to crippling student debt, as well as financial trauma felt from the Great Recession.
2 New Yorkers erased $1.5 million in medical debt for hundreds of strangers
–The New York Times
A pair of do-gooders from upstate New York recently raised funds to help hundreds of people pay off their medical debt. The funds were sent to a nonprofit organization, R.I.P. Medical Debt, that purchases past-due debt at a steep discount to relieve people of their financial burden. The organization has forgiven $434 million in medical debt for 250,000 people.
These people left their jobs behind to retire early—then life got in the way. Here’s how they coped with FIRE plans gone wrong
–MarketWatch
The FIRE movement (financial independence, retire early) has grown in popularity over the years, encouraging members to save and live frugally to meet their goals. But what happens after you quit and find out you don’t have enough to live on? These people tell their tales.
The 11 types of financial friends
–The Billfold
From “Budget Ninja” to “Financial Train Wreck,” this amusing list will have you examining your own money habits as well as those of your friends and family.
Craving more financial finds? Here are my latest blog posts!
The pros and cons of apps for saving and investing
Many digital apps can help you save and invest, but which are right for you and what should you consider? Here’s my advice.
What does the future hold for a 7-year-old who’s earning $22 million unboxing toys?
Ryan of Ryan ToysReview is a top-earning YouTube star, but he still needs to learn about money. I have tips for his family about college, delayed gratification, and giving back, all of which you could apply to your own family.
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