A Week's Worth: Quick takes on the world of work and money.
Dow takes another dive, how much it takes to be really rich, and parents' willingness to postpone retirement to help their child's education
• Another tough week on Wall Street – the third in a row – cost the Dow Jones Industrial Average 194 points, or 1.5 percent of its value, at Friday's close. The decline has been the longest since last August.
•As you listen to presidential candidates rail against "tax cuts for the rich," would you like to know how much the truly wealthy say it takes to put them in that bracket? Answer: at least $5 million, according to results of a new survey by Millionaire Corner, a website aimed at helping people build and maintain their fortunes. While 45 percent of respondents chose that figure, another 25 percent put the threshold higher still – at $25 million. To qualify for the survey, participants had to have investable assets of $500,000 or more.
•So costly has a college education become that many parents are telling pollsters they'd postpone retirement if that would help their children attend the schools of their choice. Eighty percent of those participating in a survey by savingforcollege.com said they'd put off retirement for at least two years, if possible, provided that meant not taking on new debt. Only 9 percent said they'd tell their child to "find a less expensive school."
•"All work and no play makes Jack a dull boy," so the saying goes. And that appears to be consistent with the findings of a nationwide study for Ritz crackers. Huge majorities in its "fun-alysis" said they looked for marriage partners, jobs, places to live, and even presidential candidates based on perceptions of, or the ability to have, fun. Seven in 10 respondents said it would be more fun to give away $10,000 than to be given $100. Who, as a group, did the Ritz study judge has the most fun? In no particular order: married couples, people over 62, redheads ... and Republicans.