Heavy Pockets, Power Jobs and Pink Prices 🙆‍♀️

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The Heavy Pocket Secrets

Achieving millionaire status is much more within reach than most people believe.

The National Study of Millionaires - a study of 10,000 millionaires done by Ramsay solutions - has detailed insights into the habits and behaviors of millionaires so that the average person can reach a million-dollar net worth too. 💵

  • Most millionaires are self-made: 79% of millionaires did not receive any inheritance at all from parents or other family members. In fact, 80% of millionaires come from families at or below a middle-class income level. 
  • The average millionaire makes less that think: 33% of millionaires never made more than $100k/year at any point in their career. 
What's more? Not all rich techies, startups founders and successful hustlers graduated from Harvard or MIT. A lot of them went to public or state universities and set out on their entrepreneurial journeys while working boring corporate jobs. 🎓

Then how did they amass so much money?
Their spending habits and investments have a lot to do with it. 

  • 94% of millionaires said they live on less than they make. And 75% reported they have never in their lives carried a credit card balance. 
  • 75% of millionaires said that consistent investing over a long period of time is the main reason for their financial success. 

Moral: Most of the 10,000 millionaires studied achieved their wealth through consistent investing, avoiding credit card debt, and smart spending. No inheritances. No six-figure incomes. No lucky stock/crypto picks.



Monopolising Clean Energy? 

China has spent the better part of the past decade trying to hurtle ahead of the rest of the world in its green economy efforts. 

And it’s worked. 

In 2021, China employed almost half the world’s renewable energy workforce, according to a report by the International Labour Organization (ILO).

It provided 5.37 million out of the world’s 12.7 million renewable jobs last year – more than the US, the EU, South America and Africa combined.

Not just this, 

China also holds a near monopoly of 96% of the world’s solar PV production and 80% of new jobs in hydropower. ☀️

Why does this matter? 

Jobs: The renewable job market is about to hit 38 million by 2030. It’s primed to be one of the biggest employment segments in the world. So unless you want to transport to China or work as a Chinese outsourced guy in the US, it matters how many jobs the country holds. 

Investments: There are hundred and thousands of clean energy startups in China drawing in billions of dollars on investments from foreign capitalists, engineering firms and fund houses. 

US Defence official Richard Kidd called this a part of a range of war games around energy and climate. It seems if China wins the clean energy war, it will use it to acquire geopolitical gains. 🇨🇳



Of Women, Prices and Taxes

Pink Tax: If you’re wondering how is it possible for women to pay extra money for the exact same products that men buy, here are a few examples.

A 2015 report from the NYC Department of Consumer Affairs analyzed 794 products and found that women’s products cost more 42% of the time.

  • Toys intended for girls were priced an average of 7% higher.
  • Personal care products like razors were 13% higher.
  • Old Navy was previously busted for charging more for women’s plus-size clothing but not for men’s.
  • Men’s shirts cost an average of $2.86 for dry cleaning, and women’s cost $4.95.

The biggest offender of all - the tampon tax. Tampons and pads are subject to sales tax because they are considered “luxury” items. 🙆‍♀️

But it’s not just about lady products. Even the general use products are priced higher when marketed to women. Often, those products are packaged in pink — like these lady laxatives and earplugs (see image below).

 

It is estimated that women spend about $1,300 more a year in extra costs for these products that perform the exact same task as the general men products. Ironically, women still earn only 80.5 cents for every dollar a man earns. 

What about legislation? 🧑‍⚖️

Bills repealing the pink tax or prohibiting price differentiation were passed in 2018 and 2019 in several states in the US, but to no avail. 

As of September this year, 22 states charge sales tax between 4% to 7% on period products. Of the remaining states, California was the latest to sign a bill prohibiting companies from gender-based pricing of products.

Some individual companies have taken positive steps. For example, CVS announced last month that it would reduce the cost of menstrual products by 25% in states that impose a tampon tax. 

On a global scale, few countries, including Canada, India, UK, Australia, Colombia, Ireland and Kenya, have made strides by abolishing taxes on sanitary products. While Germany recently reduce its tax rate on feminine hygiene products after deeming them to be a daily necessity. 



Shorts ⏳
Groceries For Tether - In bankrupt Lebanon, where $1 now equals 15 cents, locals are mining cryptocurrencies to buy groceries

The Good Mushroom - A new clinical study—the largest of its type ever conducted—found that psilocybin, the hallucinogen in magic mushrooms, can significantly reduce symptoms of severe depression.

Data in Your Eyes - Meta new privacy policy includes an “Eye Tracking Privacy Notice”, saying that it will use eye-tracking data to “help Meta personalize your experiences."

Some Weird News - Here's a side hustle that pays you money for donating your poop

Some Weird Stats - On average, millennials unlocked their smartphones 71 times per day in 2021 compared to generation Z, who unlocked theirs an average of 82 times per day.


Stash Recommends: Tools to Explore
⛽ EHS InsightA tool that cuts down on the time, money, and energy needed to properly handle audits, incidents, and training, among other things.

🌎 GobyAn effective and user-friendly software that facilitates ESG project management and reporting for businesses.

📜 Leap: A built-in legal document management system that helps you create, store, and manage all your legal papers in one place.

🐘 Energy ElephantA web-based service for monitoring and controlling energy consumption and costs in business.


 
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