Why Ballers Go Broke: Isn't $100M Enough to Be Set For Life? Apparently, Not For Some!

Browsing my old copies of Bloomberg Businessweek that had been piling up before the holiday break, I came across an interesting article by Paul Wachter entitled "Why Ballers Go Bust" (here's the online version). It centered on a question that I often wondered myself...how much is enough money to set you free...free to do what you want, work on what you want, break out of the hierarchy, tell people to kiss your butt? Well apparently, $100M+ is not enough...it seems that if you don't have what psychologists call self-regulatory capacity and if you don't have experience with the devastating curse of debt, then even hundreds of millions of dollars can't ensure that you will stay out of lawsuits, bankruptcy, and moving back in with your parents. Scottie Pippen earned and lost $120M, Evander Holyfield blew $200M..., and it wasn't just African American athletes who were susceptible. Lenny Dykstra "sold his World Series ring to pay creditors" and Mark Brunell lost millions in the real estate crash. Sports Illustrated puts the number at 60% of NBA players who are in financial problems 5 years after they retire.

It is surprising to me that millions of dollars are not enough to live independently...do you know how much 5% interest on $1M earns annually, and that doesn't even begin to add in the benefit of compounding...but I guess the adage of "it's all relative" and "money can't buy you love" may be true after all!

I dream of retirement, when my time will truly be my own and money will cease to be a concern but maybe the dream is a mirage...but I haven't given up looking for that ideal number of dollars that will buy me my dream day (e.g., wake up, write in my pajamas cup of java in hand, take my kids skiing, skating, traveling, dinner (preferably out) with my husband, sleep), everyday for the rest of my life...

Substance Abuse Treatment Admission Rates Increase Across U.S.

Substance Abuse Treatment Admission Rates Increase Across U.S.

Gene Variant Puts You At Risk for Alzheimer's

MRI scans reveal brain changes in people at genetic risk for Alzheimer's

ScienceDaily (2010-12-30) -- People with a known, high risk for Alzheimer's disease develop abnormal brain function even before the appearance of telltale, amyloid plaques that are characteristic of Alzheimer's disease, according to a new study. The findings suggest that a gene variant affects brain function long before the brain begins accumulating the amyloid that will eventually lead to dementia. ... > read full article

Sniff Test for Dementia

As hard as it is to tell if you or someone you care about is developing or at risk for developing dementia or Alzheimer's, I always worry if my own absent-minded professor habits like forgetting my train of thought means that I am at risk for eventually developing such a disabling disease. After all, my grandfather and both my grandmothers died from Alzheimer's and my mother is currently battling early onset dementia at the age of 65. Interestingly, there is a simple test that I used on my own mom to test her a year ago when she became worried that she wasn't feeling quite normal.

A sniff test.

It turns out that the beta-amyloid plaques that Will eventually end up destroying brain cells throughout the brain seem to attack the brain areas involved in smell first. So the inability to identify common kitchen smells like coffee, cinnamon, lemon, and menthol (like from chest rub...) may indicate that dementia is likely in the future. This was from a study presented at the annual meeting of the American College of Neuropsychopharmacology. My mom didn't do spectacularly well on that test and our neuropsychologist a few months later confirmed with MRI scans what we already suspected. She had Alzheimer's - most likely a particular type called Alzheimer's with Lewy Bodies which has some similarities with Parkinson's disease in that it affects gait, posture and body control. A great paper from Johns Hopkins details more interesting insight on Alzheimer's detection!

I Can Beat That! - Putting A Human Face on Risk Changes Perception

Why do risks with human characteristics make powerful consumers feel lucky?

ScienceDaily (2010-12-23) -- People who feel powerful are more likely to believe they can beat cancer if it's described in human terms, according to new study. ... > read full article

Understanding Impulse Control...Depends on Who You Are

Unlocking the secrets of our compulsions

ScienceDaily (2010-12-20) -- Researchers have shed new light on dopamine's role in the brain's reward system, which could provide insight into impulse control problems associated with addiction and a number of psychiatric disorders. ... > read full article

Amygdala Size Key to How Social You Are

Structure deep within the brain may contribute to a rich, varied social life

ScienceDaily (2010-12-26) -- Scientists have discovered that the amygdala, a small almond shaped structure deep within the temporal lobe, is important to a rich and varied social life among humans. ... > read full article

Instinct in the Brain

Part of brain that suppresses instinct identified

ScienceDaily (2010-12-26) -- New research is revealing which regions in the brain fire up when we suppress an automatic behavior such as the urge to look at other people in an elevator. Researchers showed -- for the first time -- an increase in signal from the left inferior frontal cortex when study participants were confronted by a conflict between an image and a word superimposed on the image. ... > read full article

A Few Key Consumer Trends to Watch for 2011...

An article today in the Globe & Mail Report on Business Section listed some consumer trends to watch in 2011...A few of them I thought were especially interesting:

1. Urbanization: Every day 180,000 people move into cities around the world (I am a life long urbanite who only fantasizes about living off grid in the country)! People who live in cities tend to be more liberal (check), more likely to try out new products (check), and more tolerant (double check).

2. Owner-less society: Sorry Pres. Bush but the ownership society was a lousy, short-sighted idea that has thankfully gone by the wayside. Turns out that more and more consumers are happy to rent and/or share products, real estate, cars. Owning, especially when debt is required, is too onerous and burdensome as many of us have found! It has definitely been a trap for the baby-boomer generation - my parents dreamed of getting a credit card when they were broke and in their 20s and they are suffering under a mountain of consumer debt now that they are retired and in their 60s - me and my husband have previously felt the agony of a mortgage, 4 car leases, student loans, and business loans and have sworn ourselves to a life without debt - renting and sharing is the new way to consume that may finally work well for consumers!

3. Pursue big ideas! I like that! But how do you know your idea is big...I'm still working on that!

Ads Work Better If All Senses Are Involved

Taste Sensation: Ads Work Better If All Senses Are Involved

ScienceDaily (2009-07-22) -- Corporations spend billions of dollars each year on food advertising. For example, Kraft Foods, PepsiCo, and McDonald's each spent more than $1 billion in advertising in 2007. A new study suggests those advertisers are missing out if their ads only mention taste and ignore our other senses. ... > read full article

The Taste Gene -- Psychobiologists Find Genetic Component in Children's Food Preference

ScienceDaily () -- In the first study to link taste genes to behavior in children, researchers looked at how natural variations in a recently discovered taste gene affected sensitivity to bitter tastes and food preferences in a group of children and adults. Collecting genetic samples from 143 children and their mothers, the researchers showed moms and kids who had at least one bitter-sensitive region in the gene were generally able to detect even a hint of bitter flavor in a test drink. The same group of children, carrying one or two bitter-sensitive regions of a gene, also preferred higher concentrations of sucrose solutions and had stronger preferences for sweet-tasting food and beverages than did the bitter-insensitive kids.

Liberals and Conservatives Don't See Eyes The Same

Politics and eye movement: Liberals focus their attention on 'gaze cues' much differently than conservatives do

ScienceDaily (2010-12-09) -- It goes without saying that conservatives and liberals don't see the world in the same way. Now, research suggests that is exactly -- and quite literally -- the case. In a new study, researchers measured both liberals' and conservatives' reaction to "gaze cues" -- a person's tendency to shift attention in a direction consistent with another person's eye movements. Liberals responded strongly to the prompts, consistently moving their attention in the direction suggested to them by a face on a computer screen. Conservatives, on the other hand, did not. ... > read full article

Princess Stories: Do girls (and boys) need new tales?

Today Globe and Mail ran a story on Disney's princess franchise, which I was interviewed for. It brought up an interesting dilemma that Disney is facing: how do they continue to exploit the princess myth which my daughter and millions of girls around the world absolutely relish, while keeping up with the changing ethos of girls and women and challenging the criticism that neo-femininists lobe on whether these models should be marketed at all! Having both a son and a daughter I not only question the values promoted in princess stories but also the ones permeating boy coming of age stories too! Is it time for a completely new set of myths and archetypes for new generations of children who need better tools to help them survive in the future. Instead of "the knight in shining armor will save you from evil" how about "self-control over the impulses that can drive bad choices is the key to triumph." Instead of "kill or be killed" how about "avoid being one of the crowd; find what makes you special in what makes you so different and you will go beyond the crowd." The Grimm fairytales were written over 100 years ago...time for new tales to be written?

Aging is More Than Wrinkles...Your Jawline Actually Shifts!

Facial aging is more than skin deep

ScienceDaily (2010-04-19) -- Facelifts and other wrinkle-reducing procedures have long been sought by people wanting to ward off the signs of aging, but new research suggests that it takes more than tightening loose skin to restore a youthful look. A new study indicates that significant changes in facial bones -- particularly the jaw bone -- occur as people age and contribute to an aging appearance. ... > read full article