Break from the Grind January 26, 2017

A Little Friday File Fun

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In New York City, The Bronx Zoo is offering people the chance to name one of its Madagascar hissing cockroaches in honor of someone for Valentine’s Day. The zoo in New York City started offering the name-a-roach program in 2011 as a fun way to fundraise, according to the Associated Press. For $10, recipients get an emailed certificate telling them one of the insects from the world’s largest roach species has been named for them. This year, the zoo is also offering to send along chocolates or a Madagascar cockroach plush toy for higher donations. The money goes to the Wildlife Conservation Society.

In Fostoria, Ohio, a police officer tried to stop a driver who wasn’t using headlights and kept braking, and the vehicle took off at 70 mph, WTOL-TV reported. The vehicle eventually struck a curb and stopped in a restaurant parking lot. That’s when the officer discovered that the driver was a 10-year-old boy who took his parents’ car without permission and drove 11 miles to a nearby city to shop at a convenience store.

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In Council Bluffs, Iowa, a police officer found a 12-year-old boy walking along an Interstate 80 ramp at 6:30 a.m. in the morning. The boy said his mother left him after he got out of the car over an argument about which shoes to wear to school. According to the Des Moines Register, police say the mother initially verified the boy’s account, asking police, “What am I supposed to do? Be late for work?” She has been charged with child endangerment and abandonment.

In Geraldton, Australia, police stopped a speeder going 80 miles per hour. The driver told officers, “The wind was pushing me.” He was charged a $200 fine and given two demerit points.

In Port St. Lucie, Florida, a resident called police because a man with a mop over his face kept banging on his door or window. Police caught up with the man who told them, “I was born a comedian … and I liked to tease people … I was short of an egg and needed eggs to make a cake.”

Somewhere in East Texas, a 75-year-old woman was hiding in her bathtub as a tornado approached her home. According to a local news station, the tornado tore the roof off the home, then lifted the bathtub and carried it until it landed in nearby woods. The woman was unharmed.

Just a compilation of some short videos that will make you laugh. (I didn’t like the one with the bike, though.)

If you can't view the below video, try https://youtu.be/_envxACXH58

After editorial review, we have decided to take down this video.
Data and Research January 26, 2017

Generations at Different Stages of Retirement Planning

Although older Millennials feel most confident in their retirement preparedness, they are also planning big ticket spending, a survey finds.
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When it comes to retirement readiness, those farthest away from this milestone appear the most hopeful, a new survey suggests.

According to a new survey by New York Life, 66% of “Maturing Millennials” ages 30 to 35 believe they will be in better financial shape for retirement throughout the new year, compared to 46% of Generation X (ages 36 to 51), and 33% of Baby Boomers (52 to 70).

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This trend of optimism against age is reflected across different variables such as overall financial security, opportunity for career growth and spending projections, the survey found.

When asked if they believe their family will be more financially secure and better prepared for the unexpected in 2017, 71% of Maturing Millennials agreed. Only 52% of Gen Xers and 36% of Baby Boomers said the same.

“It’s a tale of three cities for America’s generations as they head into 2017,” says Mark Madgett, senior vice president and head of Agency Department, New York Life. “The stark contrast between Maturing Millennials and their Gen X counterparts, who aren’t all that much older, is equally promising for Millennials and worrying for Generation X. A source of tremendous concern is the Baby Boomers, who are clearly showing the strains of heading into retirement without the kind of financial planning many sorely need.”

However, while Millennials are most confident about their financial future, they also plan to spend more than their counterpart generations despite major challenges like student loan debt, poverty, and unemployment.

Millennials plans to spend more (64%) on important purchases such as home improvements, appliances, and professional wardrobe. Only 40% of Gen Xers and 23% of Baby Boomers expect to do the same. More than half (55%) of Maturing Millennials even plan to boost “fun” spending such as vacations in 2017. Only 35% of Gen Xers and 22% of Boomers expect the same luxuries.

NEXT: More emphasis needed on retirement planning

New York Life found generations do have one thing in common: They believe financial planning is a priority. Across all age groups, more than half plan to reduce debt, save more, and meet long-term goals. Boosting savings will be a major aspect of 2017 for Maturing Millennials (83%), Gen Xers (68%), and Baby Boomers (54%).

New York Life suggests Gen Xers and Baby Boomers may need to redesign their retirement plans in light of specific challenges spanning from raising children and looking after aging parents to dealing with the uncertainty of Social Security benefits.

Meanwhile, many Millennials could feel confident about their financial future but fall back on key aspects of planning. While it can’t be said for all generations, Millennials have time on their side; still, many need to truly grasp what that means.  

“It is important to not forget Generation X and Baby Boomers, where a strong majority have long term planning on their 2017 to-do list, but yet are less optimistic about financial success,” explains Madgett. “It is the lower optimism among Generation X and Baby Boomers, who are more likely to have a lot of financial responsibilities that could include simultaneously taking care of their children and aging parents, paying mortgages and more that is especially poignant for me. There is a major opportunity among financial professionals to break through to these older generations who are closer to retirement and in greater need for guidance around the right moves to make for their future and their family’s future.”

While all generations can benefit from professional advice, the survey found Maturing Millennials are most likely to work with a financial professional, with 48% saying they plan to do so in 2017. “With these positive steps we are hopeful that this generation will live up to the optimism they are expressing in 2017 and beyond,” says Madgett.

The survey of 1,800 adults ages 30 and older was published by New York Life and fielded by Ipsos Public Affairs in December 2016.

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