The composition of one's peer group significantly impacts economic success, influencing weight, political affiliation, income, college attendance, and more. The key to economic security is not just about making money, but more importantly, about saving, deploying capital wisely, diversifying investments, and developing a savings habit. Building wealth involves bringing generosity and forgiveness to relationships, avoiding personal and professional divorces that can lead to significant wealth loss. Basic financial literacy, savings habits, and discipline are crucial at different life stages to achieve financial security and reduce stress. The process may be gradual, but with effort and discipline, substantial economic gains can be achieved, ensuring a focus on relationships and things that truly matter over financial stress.
Scott takes a look at Tesla’s new shareholder vote and speaks with Charles Elson, Founding Director of the Weinberg Center for Corporate Governance at the University of Delaware, about the original ruling on Elon’s pay package and whether the superstar CEO will get his way this time around. Then Scott and Ed break down the latest big bank earnings and discuss “Basel III endgame,” a proposal for stricter capital requirements at banks following last year’s banking crisis.
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