The latest on Tooth Fairy money, the female FIRE movement, and whether annuities are bad for retirement plans
Here are some favorite personal finance reads from around the web this week.
The Tooth Fairy economy, explained
—Vox
What’s the going rate for a kid’s tooth? In a recent poll, American kids get an average of $3.70 per tooth from the Tooth Fairy (meaning—spoiler alert—their parents). Vox breaks down how this tradition came about, and why some parents are abandoning it altogether.
For these women, a FIRE that burns too male and too white
—The New York Times
The FIRE movement (financially independent, retire early) has taken off among overworked millennials, but they’re mostly white men based in the tech industry commanding six-figure salaries. Frustrated by the lack of diversity, these women are carving out their own space within the FIRE community.
The House passed a bill that would allow more annuities in 401(k) plans—is that actually a good thing?
—MarketWatch
Congress recently passed the SECURE Act, which would not only offer more retirement plans for small business workers and part-time employees, but also boost the use of annuities (which often get a bad rap) in retirement accounts. MarketWatch explores the pros and cons as the legislation heads to the Senate.
I’m not saving 90% of my income for myself
—The Cut
This woman lives with her husband, her dad, and a rotating cast of three Airbnb renters to save 90% of their joint income. She credits her immigrant upbringing for her extreme choices to build wealth and break the cycle of poverty.
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