“Non-profit endowments, particularly those of elite academic institutions, have failed to deliver investment outperformance. Those colleges and universities have significantly underperformed a passive benchmark on an absolute and risk-adjusted basis,” writes Larry Swedroe.

“Frequent mentions in the media of the out-performance of top schools may be due to the publicity about the success of just one university, Yale.”

“Dr. Adrienne Colman is living her best life, student loans be damned,” reports Alicia Adamczyk.

“It doesn’t make me feel great that I have [$230,000 in] student loan debt, but I don’t let it hinder me in the way that I live my life,” Colman said. “I’d rather live my life than throw thousands of dollars into trying to pay this debt off.”

While she does have a $100,000 income, “she also has around $2,600 in credit card debt, mostly from shopping for clothes and accessories, and she is paying off around $17,000 for her 2017 Mazda CX-5.”

Bill Gates: “Warren has the mental sharpness of a 30-year-old, the mischievous laugh of a 10-year-old, and the diet of a 6-year-old. He once told me that he looked at the data and discovered that first-graders have the best actuarial odds, so he decided to eat like one. He was only half-joking.”

“Of all the things I’ve learned from Warren, the most important thing might be what friendship is all about. As Warren himself put it a few years ago when we spoke with some college students, “You will move in the direction of the people that you associate with. So it’s important to associate with people that are better than yourself.”

At some point nearly everyone has owned a piece of VMMXX, Vanguard’s prime money market fund. Despite over $125 billion in assets, last Thursday Vanguard announced its demise and reorganization.

“The move comes as the fallout from the coronavirus has brought back memories of the 2008-2009 financial crisis, when the oldest money fund broke the buck, with a per-share net asset value of less than $1. Regulators have since taken steps to prevent that from happening again,” according to Reshma Kapadia.

CNN and Moody’s Analytics put together a state-by-state map of economic activity showing progress as states try to return to normal.

Leading the pack is Maine at a 95% back-to-normal percentage.

Meanwhile, states like Texas and Louisiana continue to struggle.

“Given the potential for perpetual tax-free growth, a Dynasty 529 plan can be an attractive strategy that affluent families can use in order to provide a legacy of education for their family,” writes Jeffrey Levine.

“Simply put, it’s the idea of ‘overfunding’ one or more 529 plan accounts that, between contributions and earnings, can be used to pay for multiple – or better yet, many generations of – family members’ future education expenses.”

Politico: “An effort to restart stalled coronavirus negotiations went nowhere yesterday — despite a 25-minute phone call between Speaker Nancy Pelosi and the White House.”

After the call, Pelosi told reports “Democrats would be willing to cut their price tag to $2.2 trillion. When they are ready to do that they’ll let us know, Pelosi said. But she added: I did not get that impression on that call.”

“If you made a payment by mail and received an unpaid tax notice from the IRS, you shouldn’t panic yet. Check your records to see how much you paid and compare it to the notice you received. Assuming these numbers match, you may have less to worry about—and if you do owe money, there are steps you can take to resolve it,” writes Kate Dore.

“If you sent the payment by certified mail, double-check to see when the IRS received it. According to CNBC, you won’t owe penalties and fees as long as the agency received your payment before the deadline, July 15.”

Financial Panther: “So, when you add it up, over the past year, I’ve paid a total of $2,740 in annual fees. That’s actually a bit surprising to me – I didn’t even realize I was paying that much in annual fees.”

“You just have to ask yourself one question – is the value I’m getting from the card equal to or more than the annual fee? If so, then the fee is worth it. If not, then drop the card.”

“A young family aggressively saves and looks to make a new start in Boquete, Panama. She prefers a larger house with three bedrooms, but he’s more budget-minded and wants something smaller that’s closer to town,” House Hunters International, Season 157, Episode 3.

“For all my friends in the personal finance community, you’ll be happy to know that they were excited about our money story. They liked our backstory about reaching financial independence and retiring early. Will that be a part of the episode? Guess we’ll find out!” writes Route to Retire.