Red Envelopes to Retirement (RETR)

It is prom season and the viral lavish videos had me thinking on this. I applied some economic numbers to this and it surely didn't make sense. However, I'm not against these events. Enjoy folks!Article References: https://www.miamiherald.com/news/local/community/miami-dade/article288918416.htmlhttps://www.washingtonpost.com/business/2026/03/28/prom-dresses-suits-costs-budget/https://nypost.com/2017/06/10/why-a-single-mom-spent-25k-on-her-sons-pre-prom-party/

This is a continuation of my topic on skimping and splurging with a list of things I am will and not willing to spend on. Shout out to my family for giving me these examples, my buddy Paul and Iron Mike Tyson. This is the YouTube channel for clothing quality I spoke about: https://www.youtube.com/@shiftfashiongroup

Skimp and Splurge.The things I skimp on and the things I splurge on. A recent Wall St. Journal article highlights how the high earners of the U.S. are decreasing their grocery spend by 2% annually by alternating the spend from high end stores like Whole Foods to more price conscious alternatives like Aldi's and the Dollar Store. https://www.wsj.com/economy/skimp-on-yogurt-splurge-on-skydiving-the-rise-of-the-frugal-rich-44b2e482?mod=author_content_page_1_pos_1

Episode 3 of the Red Envelopes to Retirement podcast titled: Are you out of your mind? How much are people spending vs. their income. This just shows that earning isn't the problem but the amount of spending is .

1991 was the time and the great Dee Brown won the NBA dunk contest. I needed those Reebok pumps. I talk about how I got them, the appreciation I had for them but my soon regret on getting them and the lesson surrounding buying things and the novelty around it.

In the debut episode of "Red Envelopes to Retirement," host Wil introduces himself as a middle-aged Chinese American from Boston, raised by immigrant parents in a modest household. He explains the podcast's mission: exploring financial habits, investing, and money management through an Asian cultural perspective. Drawing on personal experiences—from receiving red envelopes during Lunar New Year to saving from his first paycheck—Wil shares how frugality and saving were instilled in him early. He also highlights statistical wealth differences among racial groups in America, while acknowledging disparities within the Asian community itself, setting the stage for future episodes on achieving financial independence.