Must Read Money Stories for Thursday, April 28

by April 28, 2016



Facebook just keeps getting bigger. A lot bigger. The company reported a 50% increase in revenue for its latest quarter, according to Reuters. And the social media giant now has 1.65 billion active users, which is 210 million more than it had a year ago. If you own stock in the company, yesterday was a good day.

Mars mission.

SpaceX says it has plans to send a ship to Mars as early as 2018. Quartz writes that, given uncertainties in the space industry, the date “should be taken with a grain of salt.” But the company isn’t planning to send humans to the red planet in that time frame. Instead it will focus on sending heavy payloads, which someday can be used to build a human colony.

Losing out.

Americans are losing an estimated $1.7 trillion dollars because we don’t put enough money away for retirement. Bloomberg reports on a new study from the National Bureau of Economic Research that looks at all that money we’re not saving, and how the figure might add up over time. Economists say most of us underestimate the power of compound interest, and overestimate what we get out of spending our money right away.

What Prince left behind.

Slate dives into what could amount to a very messy battle over Prince’s estate. The musician’s sister filed a motion in court Tuesday saying that he left no will. That means it’s not clear who will control his immense catalog of music. Prince was also said to have a “vault” of unreleased music he’d been storing for years. Warner Brothers may claim rights to some of the tunes that the iconic musician penned during the years while Prince was signed with the company. And then there are estate taxes. So, yeah. Messy.

Mars the Mysterious (NASA, 1997)” by flickr user “nasamarshall” CC license CC by-NC-ND 2.0