NOTES

Introduction

1. Annamaria Lusardi and Carlo de Bassa Scheresberg. “Gen Y Personal Finances: A Crisis of Confidence and Capability,” May 6, 2014. http://gflec.org/wp-content/uploads/2015/01/a738b9_b453bb8368e248f1bc546bb257ad0d2e.pdf

2. Ibid.

3. http://quoteinvestigator.com/2016/07/20/knowledge/

4. Thomas Stanley and William Danko. The Millionaire Next Door: The Surprising Secrets of America's Wealthy. Maryland: Taylor Trade Publishing, 2010.

5. Kim Shandrow. “Billionaire Chris Sacca on the ‘Quickest Way to Get Rich,” Entrepreneur, June 27, 2016. www.entrepreneur.com/article/278130

Chapter 1

1. Tanya Korobka. “Why 70 Percent of Millennial Are Unhappy With Their Jobs,” SheKnows, November 02, 2015. www.sheknows.com/living/articles/1100749/why-70-percent-of-millennials-are-unhappy-with-their-jobs

2. Daniel Pink. Drive: The Surprising Truth About What Motivates Us. New York: Penguin Publishing Group, 2011.

3. Ryan Holiday and Stephen Hanselman. The Daily Stoic: 366 Mediations on Wisdom, Perseverance, and the Art of Living. New York: Penguin Random House, 2016.

4. Mark Cuban. How to Win at the Sport of Business: If I Can Do It, You Can Do It. New York: Diversion Books, 2011.

5. Sheena Iyengar and Mark Lepper. “When Choice is Demotivating: Can One Desire Too Much of a Good Thing?” Journal of Personality and Social Psychology 79, no. 6 (2000): 995–1006.

6. Seth Godin. The Dip: A Little Book that Teaches You When to Quit (and When to Stick). New York: Penguin Publishing Group, 2007.

7. Josh Waitzkin. The Art of Learning: An Inner Journey to Optimal Performance. New York: Free Press, 2008.

8. Tim Ferris. “Shay Carl—From Manual Laborer to 2.3 Billion YouTube Views,” June 26, 2016. http://tim.blog/2016/06/27/shay-carl/

9. Charles Duhigg. The Power of Habit: Why We Do What We Do in Life and Business. New York: Random House Publishing Group, 2014.

10. Jesse Yomtov. “Full List of Every Olympic Medal Michael Phelps Has Won,” USA Today. August 7, 2016. www.usatoday.com/story/sports/olympics/rio-2016/2016/08/07/michael-phelps-medals/88361712/

11. Rachel Dicker. “Watch a 15-year-old Michael Phelps Discuss His Goals for the Future,” U.S. News. August 15, 2016. www.usnews.com/news/articles/2016-08-15/watch-a-15-year-old-michael-phelps-discuss-his-goals-for-the-future

Chapter 2

1. Steven Pressfield. The War of Art: Break Through the Blocks and Win Your Inner Creative Battles. New York: Black Irish Books, 2002.

2. Kelly Dilworth. “Rate Survey: Average Card APR Rises to All-time High of 15.59 Percent,” CreditCards.com. March 22, 2017. www.creditcards.com/credit-card-news/interest-rate-report-32217-up-2121.php

3. Maria Lamagna. “Americans Now Have the Highest Credit Card Debt in U.S. History,” MarketWatch. August 8, 2017. www.marketwatch.com/story/us-households-will-soon-have-as-much-debt-as-they-had-in-2008-2017-04-03

4. Ibid.

5. Kantar Media. 2016. www.statista.com/statistics/308842/ad-spend-credit-card-issuers-usa/

6. Jamie Gonzalez-Garcia. “Credit Card Ownership Statistics,” CreditCards.com. October 25, 2016. www.creditcards.com/credit-card-news/ownership-statistics.php

7. Jeffrey Scott. “Millennials Still Want Credit Cards,” FICO.com. June 9, 2016. www.fico.com/en/newsroom/fico-survey-millennials-still-want-credit-cards-06-09-2016

8. Kathleen Elkins. “Here Is How Much the Average Millennial Has in Savings,” CNBC. September 14, 2017. www.cnbc.com/2017/09/14/how-much-money-the-average-millennial-has-in-savings.html

9. Matthew Frankel. “How American Express Company Makes Most of Its Money,” The Motley Fool. July 25, 2017. www.fool.com/investing/2017/07/25/how-american-express-company-makes-most-of-its-mon.aspx

10. Jessica Dickler. “Credit Card Debt Hits a Record High. It's Time to Make a Payoff Plan,” CNBC. January 23, 2018. www.cnbc.com/2018/01/23/credit-card-debt-hits-record-high.html

11. “Do You Need Multiple Credit Cards?” Bettermoneyhabits.com. https://bettermoneyhabits.bankofamerica.com/en/credit/having-multiple-credit-cards

12. Erin Issa. “2017 American Household Credit Card Debt Study;” NerdWallet. December 10, 2017. www.nerdwallet.com/blog/average-credit-card-debt-household/

13. Jay Boyer. “The ‘Snowball Approach’ to Debt,” Northwestern Kellogg School of Management. August 12, 2012. www.kellogg.northwestern.edu/news_articles/2012/snowball-approach.aspx

14. “Annual Percentage Rate—APR,” Investopedia.com. www.investopedia.com/terms/a/apr.asp?lgl=myfinancelayout-no-ads

15. “Teary-Eyed Student Loan Officers Proudly Watch As $200,000 Asset Graduates From College,” The Onion. May 09, 2016. https://local.theonion.com/teary-eyed-student-loan-officers-proudly-watch-as-200-1819578870

16. Nick Clements. “The Real Student Loan Crisis: Debt-Fueled Tuition Inflation,” Forbes. August 8, 2016. www.forbes.com/sites/nickclements/2016/08/08/the-real-student-loan-crisis-debt-fueled-tuition-inflation/#4b85a90d6824

17. Selena Maranjian. “7 Common Expenses Growing Much Faster than Inflation,” CNN Money. August 4, 2017. http://money.cnn.com/2017/08/02/pf/expenses-inflation/index.html

18. Ingrid Lunden. “Student Loan Platform CommonBond Raises $300M and $30M in Equity, Buys Gradible,” TechCrunch. July 19, 2016. https://techcrunch.com/2016/07/19/student-loan-platform-commonbond-raises-300m-and-30m-in-equity-buys-gradible/

19. Jay Boyer. “The ‘Snowball Approach’ to Debt,” Northwestern Kellogg School of Management. August 12, 2012. www.kellogg.northwestern.edu/news_articles/2012/snowball-approach.aspx

20. Seth Godin. “Full Program Details,” Alt MBA. https://altmba.com/info

21. “Mike Rowe,” Wikipedia. https://en.wikipedia.org/wiki/Mike_Rowe#Trade_activism

22. “About the Foundation,” mikeroweWORKS Foundation. http://profoundlydisconnected.com/foundation/

23. Josh Kaufman. The Personal MBA: Master The Art of Business. New York: Penguin Group, 2012.

24. Quotes About Planning. Goodreads. www.goodreads.com/quotes/tag/planning

Chapter 3

1. Peter Drucker. GoodReads.com. www.goodreads.com/author/quotes/12008.Peter_F_Drucker

2. Michelle Brownstein. “Personal Capital's Affluent Investor Outlook 2018,” Personal Capital. December 13, 2017. www.personalcapital.com/blog/whitepapers/investment-tax-giving-outlook-2018/

3. Nate Nicholson. How to Be Happy Every Single Day: 63 Proven Ways to Books Your Happiness and Live a More Positive Life. New York: Blue Sky Publishing, 2014.

4. Joshua Becker. “21 Surprising Statistics that Reveal How Much Stuff We Actually Own,” Becoming Minimalist. www.becomingminimalist.com/clutter-stats/

5. Marie Kondo. The Life-Changing Magic of Tidying. United Kingdom: Random House Publishing, 2014.

6. Richard Fry. “Millennials Surpass Gen Xers as the Largest Generation in U.S. Labor Force,” Pew Research Center. May 11, 2015. www.pewresearch.org/fact-tank/2015/05/11/millennials-surpass-gen-xers-as-the-largest-generation-in-u-s-labor-force/

7. Elizabeth Dunn and Michael Norton. Happy Money: The Science of Happier Spending. New York: Simon & Schuster, 2014.

8. Christine DiGangi. “The Class of 2016 Will Graduate With an Average of $37,172 in Debt,” Fox Business. May 06, 2016. www.foxbusiness.com/features/2016/05/06/class-2016-will-graduate-with-average-37172-in-debt.html

9. Chris Weller and Andy Kiersz. “How Much Money Millennials Need to Earn to Be in the Top 1% at Every Age,” Business Insider. August 9, 2017 www.businessinsider.com/top-1-percent-income-for-millennials-every-age-2017-8

10. Philip Taylor. Interview with the author, December 7, 2017.

11. Ibid.

12. Ibid.

13. Nick Loper. Interview with the author, December 19, 2017.

14. Nicole Lapin. Nicolelapin.com. https://nicolelapin.com/welcome/about-nicole-new/

15. Nicole Lapin. Rich Bitch: A Simple 12-Step Plan to for Getting Your Financial Like Together . . . Finally. New York: HarperCollins Publishers, 2016.

16. Nicole Lapin. Boss Bitch: A Simple 12-Step Plan to Take Charge of Your Career. New York: Crown Business, 2017.

17. Collin Brennan. “Millennials Earn 20% Less than Boomers Did at Same Stage of Life,” USA Today. January 13, 2017. www.usatoday.com/story/money/2017/01/13/millennials-falling-behind-boomer-parents/96530338/

18. Brad Klontz. “Getting Sentimental Could Increase Your Savings,” Psychology Today. October 12, 2017. www.psychologytoday.com/blog/mind-over-money/201710/getting-sentimental-could-increase-your-savings

Chapter 4

1. David Landy, Noah Silbert, and Aleah Goldinc. “Estimating Large Numbers,” Cognitive Science: A Multidisciplinary Journal. August 12, 2012.

2. Kate Baggaley. “Why We Can't Grasp Very Large Numbers,” BrainDecoder. October 23, 2015. http://behdad.org/mirror/www.braindecoder.com/happy-mole-day-large-numbers-in-the-brain-1418905338.html

3. Ibid.

4. Walter Mischel, Ebbe Ebbesen, and Antonette Zeiss. “Cognitive and Attentional Mechanisms in Delay of Gratification,” Journal of Personality and Social Psychology. 1972.

5. Ibid.

6. Ibid.

7. Ibid.

8. “Car Depreciation: 5 Things to Consider,” CarFax. May 18, 2017. www.carfax.com/blog/car-depreciation

9. “Leasing vs. Buying a New Car,” Consumer Reports. September 19, 2017. www.consumerreports.org/cro/2012/12/buying-vs-leasing-basics/index.htm

10. Joann Muller. “What the Rich People Really Drive,” Forbes. December 20, 2011. www.forbes.com/sites/joannmuller/2011/12/30/what-the-rich-people-really-drive/#569cb3301728

11. Bela Gandhi. “6 Major Reasons Why People Get Divorced,” Today. October 25, 2017. www.today.com/health/why-couples-get-divorced-t117476

12. Erin Lowry. The Broke Millennial: Stop Scraping by and Get Your Financial Life Together. New York: TarcherPerigee, 2017.

13. www.examiner.com/article/finances-remain-leading-cause-of-divorce

14. Quentin Fottrel. “Most Americans Have Less than $1,000 in Savings,” MarketWatch. December 23, 2015. www.marketwatch.com/story/most-americans-have-less-than-1000-in-savings-2015-10-06

15. Ron Lieber. “Money Talks to Have Before Marriage,” New York Times. October 23, 2009. www.nytimes.com/2009/10/24/your-money/24money.html?_r=2

16. Wall Street: Money Never Sleeps. Twentieth Century Fox. 2010.

17. Maria Popova. “Seneca on Overcoming Fear and the Surest Strategy for Protecting Yourself from Misfortune,” BrainPickings.org. www.brainpickings.org/2016/02/15/seneca-letter-18/

18. Andrew Francis and Hugo Mialon. “‘A Diamond is Forever’ and Other Fairy Tales: The Relationship between Wedding Expenses and Marriage Duration,” Emory University. March 10, 2015. file:///Users/conorrichardson/Downloads/SSRN-id2501480.pdf

19. Lindsay Kolowich. “The Engagement Ring Story: How De Beers Created a Multi-Billion Dollar Industry From the Ground Up,” Hubspot, July 28, 2017. http://blog.hubspot.com/marketing/diamond-de-beers-marketing-campaign#sm.0001sm46ws4cdevxzmv1txwlmae2j

20. Rohin Dhar. “Diamonds Are Bullshit,” Priceonomics. March 19, 2013. http://blog.priceonomics.com/post/45768546804/diamonds-are-bullshit

21. Edward Epstein. “Have You Ever Tried to Sell A Diamond?” The Atlantic. February 1982. www.theatlantic.com/magazine/archive/1982/02/have-you-ever-tried-to-sell-a-diamond/304575/?single_page=true

22. Andrew Francis and Hugo Mialon. “‘A Diamond is Forever’ and Other Fairy Tales: The Relationship between Wedding Expenses and Marriage Duration,” Emory University. March 10, 2015. file:///Users/conorrichardson/Downloads/SSRN-id2501480.pdf

23. Ivy Jacobson. “The National Average Costs of a Wedding is $32,641,” The Knot.com. February 1982. www.theknot.com/content/average-wedding-cost-2015

24. Zaleski, Jessica. “How Long Is Too Long to Be Engaged?” TheKnot.com. www.theknot.com/content/too-long-to-be-engaged

25. Peter Thiel and Blake Masters. Zero to One: Notes on Startups, or How to Build the Future. New York: Crown Publishing House, 2014.

26. Eddy Ng. “Are Millennials More Likely to Switch Jobs and Employers,” Psychology Today. March 29, 2015. www.psychologytoday.com/blog/diverse-and-competitive/201503/are-millennials-more-likely-switch-jobs-and-employers

27. Mona Chalabi. “How Many Times Does the Average Person Move?” FiveThirtyEight.com. January 29, 2015. https://fivethirtyeight.com/features/how-many-times-the-average-person-moves/

28. Diana Olick. “Is Homeownership Worth It? Not in These Cities,” CNBC. February 04, 2016. www.cnbc.com/2016/02/04/is-homeownership-worth-it-not-in-these-cities.html

29. United States Census Bureau, The. “Monthly New Residential Sales, December 2017,” Census.gov. January 25, 2018. www.census.gov/construction/nrs/pdf/newressales.pdf

30. Mortgage Calculator. Zillow. www.zillow.com/mortgage-calculator/

31. Tanza Loudenback. “Middle-Class Americans Made More Money Last Year than Ever Before,” Business In sider. September 12, 2017. www.businessinsider.com/us-census-median-income-2017-9

32. Becca Stanek. “The Average 401(k) Balance by Age,” Smart Asset. November 14, 2017. https://smartasset.com/retirement/average-401k-balance-by-age

33. United States Census Bureau, The. “Median and Average Sales Prices of New Homes Sold in United States” https://www.census.gov/construction/nrs/pdf/uspriceann.pdf

34. Jeffrey Sparshott. “Millennials Become the Biggest Generation in the U.S. Workforce,” Wall Street Journal. March 15, 2015. https://blogs.wsj.com/economics/2015/05/11/millennials-become-the-biggest-generation-in-the-u-s-workforce/

35. Don Lee. “Why Millennials Are Staying Away from Homeownership Despite an Improving Economy,” Los Angeles Times. March 01, 2016. www.latimes.com/business/la-fi-0301-housing-economy-20160301-story.html

36. United States Census Bureau, The. “Median and Average Sales Prices of New Homes Sold in United States” https://www.census.gov/construction/nrs/pdf/uspriceann.pdf

37. D'Vera Cohn, Jeffrey Passel, Wendy Wang, and Gretchen Livingston. “Barely Half of U.S. Adults Are Married—A Record Low,” Pew Research Center. December 14, 2011. www.pewsocialtrends.org/2011/12/14/barely-half-of-u-s-adults-are-married-a-record-low/

38. Dionne Searcy. “Most Americans Are Renting, and Paying More, as Homeownership Falls,” New York Times. June 24, 2015. www.nytimes.com/2015/06/24/business/economy/more-americans-are-renting-and-paying-more-as-homeownership-falls.html?_r=0

Chapter 5

1. Monique Morrissey. “The State of American Retirement: How 401(k)s Have Failed Most American Workers,” Economic Policy Institute. March 03, 2016. www.epi.org/publication/retirement-in-america/

2. Daniel Gilbert. Stumbling on Happiness. New York: Random House, 2006.

3. Hal Hershfield, Daniel Goldstein, William Sharpe, Jesse Fox, Leo Yeykelis, Laura Carstensen, and Jeremy Bailenson. “Increasing Saving Behavior Through Age-Progressed Renderings of the Future Self,” Journal of Marketing Research. November 2011. http://journals.ama.org/doi/abs/10.1509/jmkr.48.SPL.S23?code=amma-site.

4. Ibid.

5. Stefan Agrigoroaei, Angela Lee-Attardo, and Margie Lachman. “Stress and Subjective Age: Those With Greater Financial Stress Look Older,” Research on Aging: Sage Journals. July 14, 2016. http://journals.sagepub.com/doi/abs/10.1177/0164027516658502

6. Thomas Kenny. “Stocks Vs. Bonds: The Long-Term Performance Data,” The Balance. October 28, 2017. www.multpl.com/10-year-treasury-rate/table/by-year

7. Elyssa Kirkham. “1 in 3 Americans Has Saved $0 for Retirement,” Money.com. March 14. 2016. http://time.com/money/4258451/retirement-savings-survey/

8. Ibid.

9. “Millennials Expect to Retire Earlier than Their Parents and Live Till They Are Just 79,” Blackrock. November 11, 2015. www.blackrock.com/corporate/en-gb/newsroom/press-releases/article/corporate-one/press-releases/millennials-expect-to-retire-earlier_GB

10. Internal Revenue Service. “IRA FAQs—Distributions (Withdrawals)” IRS website. www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-iras-distributions-withdrawals

11. Burton Malkiel. A Random Walk Down Wall Street. New York: W W Norton & Company; 9th ed., 2007.

Chapter 6

1. David Gelb. “Jiro Dreams of Sushi,” Independent Lens. March 12, 2012. www.imdb.com/title/tt1772925/

2. “Robo-advisor,” Wikipedia. https://en.wikipedia.org/wiki/Robo-advisor

3. Mark Haefele, Simon Smiles, and Matthew Carter. “Millennials—the global guardians of capital,” UBS. June 22, 2017. https://www.ubs.com/global/en/wealth-management/chief-investment-office/our-research/discover-more/2017/millennials.html

4. “A History of Robo-Advisors,” FutureAdvisor. April 8, 2015. https://www.futureadvisor.com/content/blog/history-of-robo-advisors

5. Jon Stein. “The History of Betterment: How We Started A Company That Changed An Industry,” Betterment. July 20, 2016. https://www.betterment.com/resources/the-history-of-betterment/

6. Peggy Collins. “Robo-Advisors,” Bloomberg. June 6, 2017. https://www.bloomberg.com/quicktake/robo-advisers

7. Thomas Davenport, Barry Libert, and Megan Beck. “Robo-Advisors Are Coming to Consulting and Corporate Strategy,” Harvard Business Review. January 12, 2018. https://hbr.org/2018/01/robo-advisers-are-coming-to-consulting-and-corporate-strategy

8. “Robo-Advisor Fee Comparison,” Value Penguin.

9. Andrew Meola. “Is Robo-Advising Better than Traditional Investing? See the Pros and Cons,” Business Insider. January 9, 2017. www.businessinsider.com/4-reasons-robo-investing-growing-2017-1

10. Nicholas Yeap, Charles Paikert, and Suleman Din. “The Hard Truth About the Rise of Robo-Advisors,” Financial-Planning.com. October 6, 2016. www.financial-planning.com/slideshow/the-hard-truth-about-the-rise-of-robo-advisors

11. Arielle O'Shea and Anna-Louise Jackson. “Best Robo-Advisors: 2018 Top Picks,” NerdWallet. January 9, 2018. www.nerdwallet.com/blog/investing/best-robo-advisors/