Millennials are too impatient when it comes to making money

Chloe Pfeiffer

Investors, and especially young investors, have unrealistic expectations about their money.

The annual Global Investor Study, a study commissioned bySchroders Investment Management that surveyed 20,000 investors from around the world, was released Wednesday, and its main takeaway probably shouldn’t be a surprise: People expect higher investment income on assets held for a shorter period of time than is realistic.

On average, investors hope to generate 9.1% annually in investment income, but with many countries’ interest rates at historic lows, most of these investors could end up disappointed.

Millennials, which the Schroders report defined as investors aged 18 to 35, have especially disproportionate goals: The minimum desired investment income was 10.2% for millennials, compared with 8.4% for investors older than 36.

Global investors also seem to be biased toward short-term investing – on average, they expect to hold their investments for a little over three years, which “is often too short a time period to counteract the volatility” of equities, the report says.

Less than a fifth of investors said they held investments for at least five years, “the minimum realistic holding period for equity investments,” as noted by the authors of the report. This bias was, once again, exaggerated for millennials, who expected to hold their investments an average of one and a half years less than older investors. Millennials are also the least likely age group to actually stick to an investment plan.

Millennials also tend to invest for immediate financial requirements, like to supplement their salary, buy things, or pay for children, and they’re less likely to see investment as a way to supplement their pensions and grow their retirement portfolios, according to the Schroders report. And even though their investment window is longer, they hold almost twice as much cash in their portfolios as baby boomers.

Thinking long-term is easier said than done, of course, but especially in a time of such low interest rates, millennials might have to start practicing patience when it comes to their investments – or else be left very disappointed.

After seeing the results of a clever psychological study, I’m considering making a major change to my daily commute

Shana Lebowitz


As a born-and-raised New Yorker, I’m an expert at ignoring people.

Nowhere does that skill come in handier than on a crowded subway, where my limbs are often entangled with those of other riders, our faces close enough for me to smell the latte on their breath. The key, I’ve learned, is to pretend they don’t exist.

Seriously – don’t acknowledge the physical intimacy, don’t try to crack a joke about it, and definitely don’t use it as an opportunity to ask where they’re headed.

It’s a way for everyone to maintain their sanity and happiness until they de-board. Or is it?

I recently spoke with Nicholas Epley, a psychologist, professor at the University of Chicago Booth School of Business, and author of the 2014 book “Mindwise.” In the book, Epley highlights a study he conducted with Juliana Schroeder, a professor at the Haas School of Business at the University of California Berkeley, which found that people are much happier on their commutes when they engage another passenger in conversation.

The study featured a series of experiments, which took place in Chicago trains, buses, and cabs. For the train experiment, researchers recruited about 90 passengers and told them them either to have a conversation with a new person on the train, keep to themselves, or do what they would normally do on their commute.

Everyone was asked to complete a survey about how happy and sad they felt after their commute, and how pleasant and productive their commute was compared to usual.

Results showed that passengers had a much more positive commute when they talked to a stranger than when they sat alone or did what they usually did. Perhaps surprisingly, those who talked to a stranger didn’t report being less productive than usual.

Here’s where things get really interesting.

In another experiment, researchers asked a different group of participants to predict how pleasant and productive their commute would be if they talked to someone, enjoyed their solitude, or went about their usual business. Those participants said they would have a much less positive and productive commute when they interacted with a stranger.

The results of another experiment shed some light on why people feel this way: They generally think that other passengers don’t want to talk to them.

starbucks customerMaking conversation with the barista could leave you happier.Alex Wong/Getty

Those last two findings don’t surprise me at all – I don’t think I’ve ever taken the initiative to strike up a conversation with a fellow commuter, at least partly because I assume I’d be bothering them. But if these study findings are any indication, I could be doing myself and them a favor.

This research doesn’t stand in isolation, either. A 2013 studyfound that customers at Starbucks who had a social interaction with the barista felt more positive than those who had a more efficient transaction. (That particular study didn’t measure how the baristas felt about the interactions.)

The big takeaway from these studies is that we aren’t always the best predictors of what will make us happy. As for me, I’m going to try (keyword: try) to overcome the feeling that other people aren’t interested in talking to me, and ask what they think about the sunshine, or compliment their swanky bag.

As long as I don’t comment on the fact that their armpit is currently resting on my ear, everything should be totally fine.

The 12 hardest-working cities in the world

Will Martin

Online business-to-business marketplace Expert Market has put together a ranking of the global cities where people clock in the most hours worked each year and have the worst so-called work-life balance.

The site compiled information on the biggest, most important cities globally, then ranked them by the average total hours worked each year, using data from Swiss banking group UBS.

We’ve divided the figure by 52 to give you an idea of how much you’d have to work all year to compete. (This calculation discounts holidays taken in the year.)

Workers in each city on the list work more than 40 hours a week on average, with people in the top-ranking city racking up more than 50 hours.

If that doesn’t sound like a lot, remember that our list discounts holiday. It also includes both full-time and part-time jobs, which brings down the average. By comparison, workers in London clock 33.5 hours a week, and those in New York average 35.5.

Check out the global cities where people work the most hours below.

T-11. Santiago, Chile — 40.03 hours a week: Workers in Chile’s capital work the third-longest hours of anyone in Latin America. That may not sound like much, but when you consider that they only take an average of 16.6 days off each year, it’s not hard to see why they clock an impressive 2081.6 hours worked per annum.

T-11. Cairo, Egypt — 40.03 hours: Cairo has a reputation as a busy, bustling metropolis, and its workers are suitably busy, clocking the same number of hours as people 7,950 miles away in Santiago.

10. Bogota, Colombia — 40.3 hours: Beating out their South American rivals, workers in the Colombian capital clock 2,096.3 hours a year, with just 15 days holiday.

9. Jakarta, Indonesia — 40.4 hours: The metro area of Indonesia’s capital is home to 30 million people, and those people put in the hours, working 9.99% more hours than the global average and taking only 12 days holiday a year.

8. Taipei, Taiwan — 41.2 hours: Workers on the island nation off the Chinese mainland clock in for 41.2 hours a week, or 2,140 a year, according to Expert Market’s data. That’s 11.6% higher than the global average.

7. Nairobi, Kenya — 42 hours: As one of Africa’s most important capital cities, Nairobi has a strong working culture, which translates into relatively long hours for workers, who clock 2,184 a year, 13.4% higher than the global average.

6. Dubai, United Arab Emirates — 42.04 hours: Dubai is best known as a playground for the rich with ridiculous hotels, amazing beaches and crazy nightlife. Look beyond that however, and there’s a pretty solid work ethic in the city. Workers do like a holiday though, taking an average of 30 vacation days a year.

5. Bangkok, Thailand — 42.1 hours: Another city more well known for its party scene and hedonism than its diligence, Bangkok’s citizens actually work the fourth-longest hours of anywhere in Asia, and fifth globally. They also take fewer than nine days holiday a year, the second-lowest number in any global city.

4. New Delhi, India — 42.6 hours: One of two Indian cities to feature on this list, the capital of the world’s second-most-populous nation is home to very diligent workers. Delhi’s citizens work 14.56% longer hours than the average around the world.

3. Mexico City, Mexico — 43.5 hours: The hardest working employees in the western world are in Mexico City, where people take an average of 17.3 days holiday a year, and work 16.3% longer than the global average.

2. Mumbai, India — 43.8 hours: As this picture shows, Mumbai is pretty busy and its residents are the second-hardest working on the planet. Mumbaikars clock an average of 2,276.6 hours a year in the office.

1. Hong Kong, China — 50.1 hours: Far in the lead, the hardest, or at least, longest-working people in any major city in the world call Hong Kong home. Home of the Asia headquarters of many of the world’s largest companies, people in the city work on average 27.4% more hours than the global average.

How to be a Persuasive Co-Worker















It’s a fierce world out there. Competition for choice careers is high and in order to stay on top of your game, you need to stand out as much as you can. There are several ways to make your mark in the office from the overt (like showing up early or closing the most deals) to the covert…which we’ll cover today. Some of the most successful people in your office you’ll notice are the ones who don’t work themselves into a sweaty pulp by 4pm. The most successful people are often the most persuasive!

Persuasive people are masters at casting their point of view in the most positive light. They can influence others into agreeing with them simply by employing a few verbal and physical techniques that will inevitably play persuasive mind games with the other person. Master these techniques, and you’ll stand out from your competition as the valuable and persuasive asset that you are!

So buckle up, young Jedi: it’s time for class.

1. Mirror body language. A lot of people will talk about not crossing your arms or legs to appear more “open” to the other person. Do not. Subconsciously, the person you’re talking to will “see themselves” in you and will be more likely to believe that you two are of the same mind.

2. Speak with confidence. This one seems like a no-brainer, but think about it. When you watch a presidential debate, are you going to feel comfortable supporting the guy sheepishly staring at his shoes or mumbling “Well…So…Uh…” Probably not. Make definitive statements! Stand your ground! You’re a lion! Hear you roar!

3. But don’t yell. Or wave your arms. This is a complicated dance you’re doing, balancing gestures and vocal patterns to sound strong and assertive without seeming like a crazy person. Speak deliberately, politely, smile on occasion and actually…..

4. LISTEN. Pause and listen to what the other person is saying. Not  only do you give your sparring partner a chance to voice their opinion, it shows respect, and they will see that and be more likely to reciprocate and listen to your point of view as a result. Plus, it gives you a chance to plan your  next move.

5. Compliment sincerely. When you listen to what they are saying, take a step back and verbally acknowledge something that they said. “I see what you’re saying,” “That’s an excellent point,” and “I agree” are a few useful phrases that will open the other person up to your perspective and will actually get them to parrot you back!

6. Transfer your energy. Make eye contact, touch their shoulder, or laugh. These acts make you seem strong and confident and like someone they want to follow and listen to.

7. Have good posture. This goes along with transferring your energy. But if you stand tall, you’ll be more imposing and seem like an authority.

8. Create opportunities. Consistently referring to the person you are talking to and offering them a chance to participate in the conversation, the project, the campaign, etc. makes them feel like they are being brought into an exclusive club. And who doesn’t like that? You are bringing them under your wing and showing them a whole new world. Bring them on board that flying carpet and make them feel like they are getting the experience of a lifetime by going your way.

9. Create scarcity. Push them. Express the idea that you are only accepting ten more applicants, or that the sale is only going on for a few more days. That sort of timeline will more often than not assuage them of any notion that they have time to think about what you’re saying and thus deny you.

10. Review. Get your last words out and close hard. Review your key points whatever it is you are trying to accomplish, do it. “Great, so let’s get started.” “Sounds like we’re good to go.” “Let’s proceed.” You see? You’re ready to get going, aren’t you?

1 72 73 74 75 76 103