By Amanda Morrall (email)
1) Hubby's secret cubby
Can't say this was ever my problem however I suspect there are a few asset hiding hubbies out there with trusts and other secrets to protect in the event of divorce.
Suspicious? Here's 21 tell tale signs of furtive financial behaviour to watch for via the Globe and Mail.
2) Who needs a husband any way?
For the sake of balance, here's Globe and Mail columnist Margaret Wente writing on the meteoric rise of women in the workforce and their increased earning ability and conversely the phenomenon of the disappearing male who seems outpaced by his younger more ambitious female counterpart.
Here's a snippet of the "arresting statistics" she's dug up.
Women in America now earn almost half the family income, and more than half in lower-income families. Forty per cent of wives now out earn their husbands. And the gender gap is closing fast. The median income of young, unmarried urban women in their 20s is now higher than the men’s.
Education is a major reason why. Women, especially minority women, are pursuing higher education at much greater rates than men. They’re primed for work in the knowledge economy, which is where most of the new jobs will be. “College is built for the female brain,” anthropologist Helen Fisher told Ms. Mundy. “What do you do in college? You sit. You read. You write and you talk.” Over the past 30 years, women’s earnings have been growing while men’s earnings have stagnated.
Meantime, as women’s attachment to the work force grows, men’s attachment has been shrinking. By 2006, even before the job losses of the Great Recession, just 66 per cent of men of prime working age (25 to 64) were employed full-time, down from 80 per cent in 1970.
Amid this shifting landscape, more women are having children outside of wedlock, shunning traditional partnerships and finding fulfilment without a man at their side. How will this all play out in 20 years time? We'll see.
Sorry boys, but I couldn't resist including the following cartoon. Your wives (or perhaps daughters) will enjoy it.
3) Bucking corporate trends
Supermarket chains aren't exactly known for their stellar treatment of employees. U.S. grocery giant Wegman's (the anti-Walmart) appears to be an exception to the rule. The US$6.2 billion-a-year family-owned foodstore puts people first, paying them above average wages, ensuring they undertake 40 hours of training prior to dealing with the public and even sending them on trips abroad to learn about products.
Proof positive that you can still be profitable by putting people first and remunerating them properly. The Atlantic reports on Wegman's secret sauce.
4) Economical investing
Also from the Atlantic, an interesting piece here on how to invest without incurring the usual fee gouge. Contributing writer Timothy B. Lee compares the fee load on a DIY investment option called Betterment with Vanguard's index trackers and sides with the latter. Compare the fees to KiwiSaver at your own risk. A dizzying difference in some cases. Find your Fund here.
5) Hot money
The most popular traded currency? You guessed it, the U.S. dollar, followed by the euro, the Japanese Yen, the British Pound, Swiss franc, and the Canadian dollar. Investopedia explains why here.