[Post 240] What Makes Used Rolex Watches Worth More Than New Ones? | The Economics Of | WSJ

Summary

Rolex is the world’s most popular luxury watch brand, yet it’s not involved in many of its own watch sales. Surprisingly, some used Rolex models cost more than the new ones.

WSJ’s fashion columnist Jacob Gallagher explains how factors like long waitlists and supply chain issues have caused the used watch market to explode in recent years, and how Rolex is trying to get in on the action with its own certified pre-owned watch program.

Is the clock ticking on the used watch market’s popularity?

[Post 239] Living & Dying Alone: The Rise Of Single-Person Households Is Changing Societies | CNA Correspondent

Summary

In Japan, the average household had four members in the 1980s. As of 2020, 38% are single-member households. But the pace of households shrinking to just one person is rising fast. It’s likely to exceed 40% of all households very soon. Michiyo Ishida checks out a new solo dining trend amid the shifting social structure.

In South Korea, the rise of single-person households is also bringing sweeping changes to many sectors, including the funeral industry. Lim Yun Suk finds out why more young Koreans are choosing to stay single, with some even wanting to plan ahead for their funerals.

 

In the United States, Sally Patterson examines the price that solo living carries. Research shows singles in the nation fork out thousands of extra dollars on rent in what’s being called a ‘single’s tax’, as more Americans are unpartnered - meaning neither married nor living with a partner - than ever before.

[Post 238] Where Did Americans’ Savings Go?

Summary

The trillions in excess personal savings built up in the pandemic are beginning to vanish amid high inflation, according to Federal Reserve economists. The monthly saving rate fell to a 15-year low in 2022. It started a recovery in 2023, but remains well below long-term trends. Despite this slowdown in saving, consumer spending has remained robust, keeping the U.S. from recession. 

“Something like $2 [trillion] to $2.5 trillion above what we would have otherwise expected were saved by American households,” said Curt Long, chief economist at the National Association of Federally-Insured Credit Unions.

Collectively, Americans have trillions in excess savings compared with expectations leading up to the pandemic, according to Federal Reserve economists.

[Post 237] Singapore a magnet for China billionaires | THE BIG STORY

Summary

With a boom in the world of wealth management over the past decade, the data appears to show Singapore as an attractive destination for family offices to manage the wealth of the super-rich, especially for those in China. 

We speak with Dr Yu Hong, senior research fellow at the East Asian Institute at the National University of Singapore, on this issue and discuss its potential impact on Singapore.

[Post 236] Is it worth having kids?

Summary

Fertility rates are falling across the rich world, as more and more people are weighing up whether to have children. Raising them can be stressful and cost a fortune, but they might bring you a lot of joy. So all things considered, on International Women's Day, is it worth having kids?

[Post 235] Money matters: How to grow your CPF savings

Summary

Meet Stan. Stan’s worried about inflation remaining stubbornly high and eating into his retirement savings. One way for Stan to stay ahead of soaring prices is to grow his CPF savings through a range of investments. Let’s find out how...

[Post 234] Millennials & Gen Z: Young And In Debt. Why? | Talking Point | Full Episode

Summary

With higher life expectancies, rising costs of living, and greater market volatility, the stakes are higher when it comes to the types of financial decisions young working adults have to make in Singapore today. In an Institute of Policy Studies and Talking Point survey, we polled young Singaporeans aged 21 to 29, to find out how they’re grappling with the rising costs of living. Are young adults getting more creative with how they spend their money? What matters to them? And might they be setting themselves up for more debt, compared to previous generations, in the years to come?