If you know you’re going to inherit money — even if you can’t be sure when — it’s going to change how you handle money i

It’s a somewhat psychological thing. If you’ve read my writing more than once, you know I’m obsessed with the psycho-emotional components of how people act and react with money.

Texas Rep. Eddie Bernice Johnson sent a letter last week to Commerce Secretary Wilbur Ross and Neil Jacobs, an assistant secretary at the National Oceanic and Atmospheric Administration (NOAA), questioning the creation of a new senior-level role within NOAA for Dr. David Legates, a meteorologist and well-known climate denier. In her letter, Johnson, a Democrat, lamented that congressional committees were not given advance notice of Legates’ appointment to the position, which she worried was “created… for the specific purpose of detailing him [to the U.S. Global Change Research Program] in order to influence the development of the 5th National Climate Assessment,” she said, referring to the congressionally mandated climate-focused report the agency produces.

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a.k.a. pruning stage, goes through functions one at a time and deletes the ones that add no material performance to the model. This is done by using a generalized cross-validation (GCV) score. Note, GCV score is not actually based on cross-validation and is only an approximation of true cross-validation score, aiming to penalize model complexity.

If you, however, dare to do something uncommon, you’ll have exciting stories to share. And this doesn’t even mean doing crazy things. You don’t need to swim with a shark or jump off a plane.

In other words, as old people (such as our parents) die, young people (such as Gen Xers and millennials) — all things equal — inherit their money. For many investors, say under age 50 with living parents, this changes the game.

You don’t need to be great at something to be interesting; you have to be curious and open-minded. Once you try new things, you can ask people for advice and support. This will make you much more interesting than being lazy.

While President Trump’s assault on the election results has done next to nothing to prevent Joe Biden from moving into the White House come January, his campaign has raised more than $150 million through fundraising efforts, the Washington Post reported on Monday. A good deal of that money will go into an account that Trump can use for political activities after he leaves office, and some will go toward continuing to push a legal fight that’s based on totally unfounded claims of voter fraud. The surge of donations tops fundraising records set during the campaign and comes mostly from small-dollar donors, many of whom have been inundated with hundreds of messages asking for help combating voter fraud. “Small donors who give to Trump thinking they are financing an ‘official election defense fund’ are in fact helping pay down the Trump campaign’s debt or funding his post-presidential political operation,” Brendan Fischer, of the Campaign Legal Center, told the Post.

Different people can provide additional, refreshing perspectives. That’s why it’s so powerful to have conversations with people of various ages and from diverse backgrounds.

But you need to be curious to be interesting. You need to accept that the world doesn’t circle around you and that there might be more to learn and understand than you ever thought.

Instead of pretending to know everything, try to be open about what you don’t know yet. Being a curious person will make you so much more interesting than acting as if you’d know everything.

Is there enough graft, double-dealing, and self-interested chicanery in the Trump administration to publish this column every week? Only time — and Trump — will tell. (But we feel pretty confident.) Presenting this week’s installment of the Trump Corruption Index.

Inheritance flows are set to speed up. The population structure in most rich countries bulges outwards for the baby-boomer generation and then again for their children, many of whom are millennials. Every five years $1.3trn in investible assets, or 5% of the stock, passes down the generations in America. The pace of the wealth transfer will probably double by 2036–40 as boomers die. According to Cerulli Associates, a research firm, millennials will inherit $22trn by 2042.

But you need to be curious to be interesting. You need to accept that the world doesn’t circle around you and that there might be more to learn and understand than you ever thought.

When President Trump pardoned former National Security Adviser Michael Flynn last week, he did so in an unusual fashion: As Vox explained on Tuesday, Trump issued Flynn a pardon not just for making false statements to investigators in 2017, but also for preemptive acts he hasn’t been charged with. That means in addition to issuing pardons for Steve Bannon, Paul Manafort, and Roger Stone, all of whom have already been charged with crimes, Trump could give a preemptive pardon to someone like his personal lawyer, Rudy Giuliani — whose business dealings have been probed by federal prosecutors and whose business associates have already been indicted. This isn’t just hypothetical: Giuliani and Trump have apparently been discussing a preemptive pardon, according to the New York Times.

The young acquire wealth by inheriting or earning it. Already more than a third of America’s labour force is millennial and they have been the largest cohort since 2016 (even though some are still in education). Bank of America Merrill Lynch reckons that, worldwide, their earning power will rise by nearly three-quarters in 2015–30 as more start work and others gain seniority.