Author: openjargon

• North Korean officials have been seen wearing lapel pins featuring their leader Kim Jong Un.
• Experts say the new pins reflect Kim's efforts to establish a distinct, lasting legacy.
• North Koreans have long been required to wear pins over their hearts, the Associated Press reported.

North Korean officials have been spotted wearing lapel pins featuring the image of the country's supreme leader, Kim Jong Un.

North Korean state media recently released photos showing officials wearing the pins at a Workers' Party meeting.

The country's citizens have long been required to wear pins over their hearts, but these have typically featured images of Kim Il Sung, the founder of North Korea, or Kim Jong Il, his son and Kim Jong Un's father, the Associated Press reported.

The new pins are likely an effort by Kim Jong Un to elevate his so-called "cult of personality" to that of his predecessors.

"Kim Jong Un wants to ensure he's not seen simply as a carbon copy of his grandfather and his father," Edward Howell, an expert on North Korea's domestic and foreign policy, told Business Insider.

"One of the things that Kim Jong Un has shown more explicitly in recent years is his desire to stamp his own legacy, put his own mark on North Korea in a way that differentiates his leadership," Howell said, adding that the pins showed "quite clearly that Kim wants to cement his legacy."

While Kim Il Sung and Kim Jong Il have been immortalized by national holidays marking their birthdays, statues, and portraits across North Korea, relatively few images featuring Kim Jong Un have been found in public since he came to power in 2011.

But the younger Kim has made a number of moves in recent years to change this, with his portrait seen up alongside those of his predecessors at a Workers' Party training school in May.

Kim also released a new propaganda song earlier this year, which experts said was a calculated effort to spread state propaganda to the masses.

The tune, called "Friendly Father," portrays Kim as a "father figure," much like his predecessors.

Peter Moody, a North Korea analyst at Sungkyunkwan University, told The Telegraph that the song was an attempt to "elevate his status and stature" to their level, noting that Kim had previously had to rely on their reputations to "indicate his legitimacy to be the successor."

North Korea, Kim, and Putin

North Korea was founded in 1948 under Kim Il Sung as the Democratic People's Republic of Korea.

Its population of roughly 26 million people is cut off from much of the world, largely due to the country's guiding principle of "Juche," or self-reliance — the idea that North Korea should be able to function independently.

But North Koreans face severe economic difficulties, with much of the population struggling with high poverty levels and food shortages.

Many have sought to flee to neighboring South Korea. At the end of 2022, the number of North Korean defectors living in South Korea was 33,752, according to South Korea's unification ministry.

In recent years, the country's current leader, Kim Jong Un, has sought to develop increasingly strong ties with Russian President Vladimir Putin.

North Korea is believed to have supplied a number of munitions to Moscow to aid its invasion of Ukraine in return for economic aid and assistance with military technologies.

"We know that relations between Moscow and Pyongyang have been upgraded considerably," Howell told BI.

• "Upflation" describes how companies create new uses for personal care products and up-charge prices.
• While it's an expensive trend, overall shampoo and deodorant prices have trailed behind inflation.
• Inflation is up about 22% since January 2020, while prices for care products are up roughly 12%.

From consumers to the President, it seems everyone's aware of shrinkflation.

Now, upflation is the new strategy used by companies looking to increase profits on everyday products.

Corporations like Procter & Gamble are finding creative ways to market new shampoo and deodorant items, often charging twice the original price, according to reporting by Bloomberg.

For example, P&G's all-over body deodorant costs $14, double the price of standard deodorant. P&G's Head & Shoulders Bare — an anti-dandruff shampoo with fewer ingredients — costs $12, roughly double the standard Head & Shoulders. And Gillette is marketing products like a "tricky areas" razor that costs $5 more than the standard Venus razor.

As companies reckon with declining sales in the $100 billion personal care and beauty industry, new marketing strategies — like emphasizing unique product uses — create new revenue opportunities.

But as companies roll out these newfangled and more expensive products to try to cultivate sales, it can feel like another instance of unappealingly high prices — similar to lingering grocery prices or the cost of eating out.

Yet, how are care product prices really affecting consumers? Business Insider analyzed price data from the Bureau of Labor Statistics since 2020 to determine how expensive shampoo, deodorant, and other items have become on average.

While inflation has risen about 22% since January 2020, the prices of deodorant, hair products, face wash, and other care products have trailed behind, rising between 6% and 18% across the same period.

Relative to overall price increases, products in the care aisle might not be as expensive as they feel.

That's not to say customers should feel completely relieved.

According to the Bureau of Labor Statistics, the price of hair, dental, shaving, and other care products, which are considered their own category, rose 2.3% year-over-year in May.

Still, those prices are behind the general trend. Overall inflation increased 3.3% year-over-year in May.

Nonetheless, it can feel hard to get a good deal right now. In May, consumers acknowledged inflation had cooled since 2022, but many still felt burdened by high prices, according to the University of Michigan Survey of Consumers.

While new, expensive razors and shampoos can be easy to pass on, the price of groceries and other goods might trouble shoppers.

In some industries, businesses are catching onto consumers' concerns. Food chains like Taco Bell, McDonald's, and Wendy's are competing to offer the best value meals. What's more, Starbucks launched $5 and $6 breakfast combos in June.

For shoppers in the shampoo or razor aisle, it's ultimately up to preference.

P&G sees new shampoo and deodorant as products people interested in innovation will pay for, according to Bloomberg.

For consumers looking to keep it simple: they'll be able to find care products at a more relaxed price.

Do you have shopping hacks to save money on personal care products? Or have you cut certain items out of your routine because of costs? This reporter wants to hear from you. Please reach out at jtowfighi@businessinsider.com.

• Members of the FIRE movement grow their wealth so they can retire early.
• But research suggests working can provide health benefits, depending on your job. 
• An expert on work and aging shared the pros and cons of retiring early with Business Insider.

Being part of the financially independent / retire early movement sounds like the dream. But if it's realistically unlikely that you'll achieve it, you may find comfort in the fact that working for most of your life could at least boost your longevity.

Members of the "FIRE" movement prioritize living frugally to save and invest as much of their income as possible, creating a huge nest egg that enables them to retire early. As BI has reported, some have retired as early as 29 and enjoy traveling, writing books, and spending time with their children instead of working.

FIRE has grown in popularity as millennials and Gen Z reject traditional work culture, and look to grind hard now to live well later, instead of living to work their whole lives.

Longevity is also a buzzy topic, and research suggests that people who live longer tend to have a strong sense of purpose. As many people get this purpose from work and their careers, could retiring early be detrimental to our health?

Karen Glaser, professor of gerontology at Kings College London and lead researcher in a study on work, health, and life expectancy called WHERL, told Business Insider that data on the pros and cons of retiring early specifically is skewed because people only retire early for two reasons: either they are wealthy enough to retire or their health is too poor for them to work.

But she said that evidence suggests the potential benefits of working or retiring vary from person to person. It's easy to see why it's better to spend retirement finally doing the things you didn't have time for while working, instead of vegetating in front of the TV.

Work can be source of fulfillment

Retiring tends to give our mental and physical health a short-term boost, because it removes stress, meaning people may in turn smoke or drink less, and have more time to rekindle friendships and for healthier habits such as exercising, Glaser said.

For instance, a 2020 study by WHERL found that women who worked high-strain, manual jobs late into life were much more likely to feel depressed, partly because of the toll it can take on the body.

On the other hand, people can lose their main source of social connection when they leave work, which could have "a huge impact" on longevity, Glaser said. A 2023 study by researchers at the University of Glasgow found that people who were socially isolated had a 77% higher risk of dying of any cause.

A job that you're happy in can also provide satisfaction and improve self-worth, so it can be better to keep working if you don't have anything outside work that bolsters your identity, she said.

"Working at older ages does seem to have some kind of protective effect on your cognition," Glaser added. Studies suggest that retirement can be followed by a drop in cognitive function, especially memory skills, although this depends on the person's job, how long they've been retired, and how they spend their retirement.

For example, a retired office worker's cognitive abilities may decline if their work was their main source of intellectual stimulation, according to a 2022 paper published in The Journal of the Economics of Ageing.

A hybrid FIRE model could be best

However, what we lose from work could be made up with the right hobbies, such as classes, going back to university, or reading, Glaser said. And of course, many members of the FIRE movement spend their time traveling, pursuing passion projects, or continuing to work on things they enjoy without financial pressures.

One 2021 study published in Psychology and Aging suggested that people who keep up mentally stimulating activities can maintain their cognition in retirement.

A hybrid model may be best for those on the way to FIRE — if you're financially stable, working part time or volunteering could provide the benefits of working and retiring.

Meanwhile, there are benefits to be reaped for those who have control over what they do at work, have jobs that aren't too stressful, and derive satisfaction from their job, Glaser said.

• Apple is preparing to supercharge iPhone with Apple Intelligence.
• Samsung is readying a counterattack with Galaxy AI.
• The South Korean company is about to reveal fresh AI features as it goes into battle with Apple. 

For more than a decade, the leaders of South Korea's grandest chaebol could take pride in their company's edge over Silicon Valley's most powerful smartphone maker.

From the city of Suwon, Samsung — the family-led titan of Korean industry — has been the world's top smartphone seller, beating Apple.

While Americans generally prefer iPhones, the rest of the world has preferred Samsung's Android-powered devices sold for competitive prices. However, all that changed last year.

By the end of 2023, Apple overtook Samsung for the first time in 12 years with a 20.1% share of global smartphone market, per figures published in January by data firm IDC.

In part, Samsung was hit by forces affecting the wider smartphone business. Shipments fell 3.2% in 2023 to 1.17 billion units, IDC found, suggesting consumers were less willing to upgrade, especially against a backdrop of higher inflation.

Samsung has also been grappling with difficulties closer to home.

Lee Jae-yong, executive chairman of its most important division, Samsung Electronics, and South Korea's richest man with a net worth of $11 billion according to Bloomberg, has been wrapped in bribery and financial crime scandals since the mid-2010s.

In 2017, he was found guilty of bribery involving then-president Park Geun-hye but was pardoned in 2022 after serving a short prison sentence. Earlier this year, in a separate case, Lee was acquitted on charges of stock price manipulation and accounting fraud.

With that drama now behind its leadership, Samsung is focusing on the sector's most important development in years: artificial intelligence and the new smartphone wars it's about to trigger with Apple.

Samsung gears up for the AI era

The South Korean company hopes all eyes will be on Paris on Wednesday as it prepares to reveal the "next frontier" of its AI ambitions at an event dubbed "Galaxy Unpacked."

The timing couldn't be more important.

Last month, Apple unveiled Apple Intelligence, a vision of generative AI that will give its devices a total refresh. In doing so, Apple hopes to inspire consumers to upgrade their iPhones so they can access its suite of AI features.

Such features include a revamped Siri, tools to boost emails and messaging, image creation support, and the integration of OpenAI's ChatGPT into the operating systems of iPhones, iPads, and Macs.

For Apple, which is facing tough competition in key markets like China, Apple Intelligence represents a huge bet that its take on AI will be so enticing to consumers that they're willing to upgrade their phones to gain access. (Only newer models like the iPhone 15 Pro and upcoming iPhone 16 line-up will offer Apple Intelligence).

For Samsung, it means needing to get serious about AI too. It debuted Galaxy AI, its first take on generative AI features for its devices, at the January launch of its flagship Galaxy S24 range.

Galaxy AI includes features such as "circle to search" from Google, which allows users to search for whatever they see on their screens, as well as live translator tools for calls and enhanced photo editing capabilities.

While Apple is pushing users to upgrade to new devices if they want to gain access to top AI features, Samsung appears to be taking a different approach.

Galaxy AI has already been rolled out to older phones, such as the S23 and Z Fold5, as Samsung aims to make its AI features as widely available as possible — as early as possible. That will give existing Samsung users a chance to assess the value of AI and buy another Samsung device when they next upgrade.

There are signs that Samsung is already making a comeback.

On Friday, Samsung Electronics estimated a huge boost in its operating profit to about 10.4 trillion won ($7.54 billion) for the second quarter, up from 670 billion won ($485 million) a year ago.

Samsung overtook Apple again in the first three months of the year as the world's top smartphone seller, per IDC figures, with the caveat that it was boosted by the launch of a flagship phone in a quarter when Apple did not launch a new phone of its own.

The South Korean company's hope now will be that its vision of AI keeps it on top of Apple for the entire year.

Samsung says Wednesday's launch is about entering "a new phase of mobile AI" — one it hopes will crown Samsung as king again in the smartphone's AI era.

• Socks from Alo and sneakers from Asics are some of the most coveted items by men right now.
• They also can't get enough of expensive lounge chairs, home golf simulators, and cold-plunge tubs.
• These items have become status symbols of sorts, showcasing men's wealth and style.

What makes a man cool right now? As it turns out, a few items help men tap into their rizz.

Since the start of this year, men — from Gen Z to boomers — haven't been able to get enough luxury items like Arc'teryx outerwear, $7,000 lounge chairs, and Dior cologne.

But there are also some more affordable pieces — like Asics sneakers and trendy socks — that have also become status symbols for men.

Here's a look at the most popular items of the year so far and why men are obsessed with them.

It seems like every man's wardrobe includes Alo accessories, especially socks and hats.

Alo has become the go-to fitness fashion brand in recent years — even surpassing LuLuLemon.

The brand's athleisure pieces are loved by celebrities and quiet luxury fans, and its high price points have pushed Alo to reach more than $1 billion in sales. The company is also expected to have 100 retail locations by the end of 2024.

But two Alo accessories have become especially popular with men: the brand's $24 half-crew socks and its $68 baseball caps.

The appeal, of course, is that both are extremely simple in design, featuring nothing but the brand's buzzy, three-letter name.

When it comes to sneakers, men are choosing "ugly" options that cost less than $150 each.

The "ugly shoe" trend is nothing new, especially among Gen Z fashion fans, but one old-school sneaker brand has reigned supreme for men.

Asics shoes have become a staple of men's street style, pushing the brand to record sales and profits last year, according to Footwear News.

The gel-soled, stripe-covered sneakers are also a major talking point on TikTok. Creators regularly show their collections of Asics Kayanos and give glowing reviews to other styles from the brand.

It also helps that Asics running shoes typically retail under $150, so they're as affordable as they are trendy.

The most popular athletic shorts come from Vuori.

For men, the brand's sport shorts are worn not only during workouts but also as a fashion status symbol.

Its popular Kore style, for example, costs $68 and is sold in at least 14 colorways. They were highlighted in Vuori's most viral TikTok video of the year so far, which was posted in late February and has gotten 7.2 million views.

Since launching in 2015, California-based Vuori has held a steady role in the athleticwear industry. It's been valued at $4 billion and is on track to have more than 100 storefronts by 2026, according to Forbes.

Publications like Business Insider, Forbes, and New York Magazine have also cited Vuori as one of the best athleisure brands for men this year.

Arc'teryx continues to dominate the fashion landscape.

If you spend a lot of time outdoors, you're likely familiar with Arc'teryx. The brand was formed in 1989 and has sold high-quality outerwear that's said to protect from strong weather elements ever since.

But it's just as likely that you've discovered Arc'teryx on social media. Its Instagram is especially buzzy, with 1.4 million followers, and TikTokers regularly make content about the brand.

That's because Arc'teryx sits at the intersection of fashion trends and luxury. Its popular jackets typically cost upwards of $300.

Add to the mix that musicians like Lil Yachty and Frank Ocean regularly wear the brand, and it becomes pretty obvious why Arc'teryx clothes remain a style status symbol for men in 2024.

Many men are rocking vintage-style Casio watches.

When you think about men's watches, luxury brands like Rolex might be the first that comes to mind. But in 2024, it's actually all about affordable pieces from Casio.

The brand is especially big on platforms like TikTok, where male creators regularly make videos (and garner over a million views each) that showcase the Japanese company's timepieces.

Variations of Casio's AQ-230A design — which features both analog and digital clocks — are especially popular, typically retailing for less than $50. The trendy style was inspired by a similar watch Casio sold in the mid-'80s.

Others have their eye on a statement timepiece from Patek Philippe.

If you prefer expensive designer watches, you're probably familiar with Patek Philippe's Golden Ellipse designs.

Publications like Forbes have named the $60,000 Rose Gold variant, which has 300 hand-crafted links and 18-karat gold pieces, as one of the year's best watches.

And according to Google Trends, searches for Patek Philippe reached their highest peak since 2018 in May.

Everyone is buying their three-piece sets from Suitsupply.

When you search "#suitsupply" on Instagram, you're met with more than 361,000 posts — many of them being "fit checks" posted by men this year to show off their designer garments.

That's because pieces from the brand have become major fashion status symbols as of late. Some customers have chosen to mix SuitSupply pants with other pieces from their wardrobe, while others are rocking full monochrome outfits, like the $859 Havana set, from the brand.

Speaking with Business Insider, a representative for SuitSupply said the company "is breaking sales records in stores worldwide" and that demand for suits is especially "accelerating in the USA."

And the scent of Dior Sauvage is everywhere.

Calabrian bergamot, vanilla, and patchouli are the top notes of Dior Sauvage — arguably the most popular fragrance for men in 2024.

Sephora's website lists the designer cologne, which is sold in five sizes between $85 and $270 each, as one of the best-sellers for men.

Dior has also gone viral with Sauvage advertisements, like one extremely short "film" narrated by Johnny Depp. Since being uploaded to YouTube in early March, the video has been viewed more than 11 million times.

Corporate guys love expensive lounge chairs from Herman Miller.

In particular, the expensive Eames lounge chair has become the ultimate status symbol for wealthy men. It's covered in leather, features a matching ottoman, and has been a staple of the designer brand since 1956.

Its regular model costs $6,895, while the tall version is priced at $7,395. However, depending on the wood and leather you choose, the chairs can actually cost closer to $10,000 each.

"The Eames Lounge Chair and Ottoman is consistently one of our bestselling products," Jennifer Nield, the vice president of lifestyle at MillerKnoll, Herman Miller's parent company, told BI.

She also added: "Although the word "icon" is overused, it's exactly the right word in describing the Eames Lounge Chair and Ottoman."

What man doesn't want a golf simulator in his home?

Indoor golf simulators seem to be popping up everywhere, from office spaces to breweries.

But some men prefer having golf tech added to their homes — something Larry Olmsted cited in a Forbes piece earlier this year. The quality of at-home simulators is improving, and price tags are becoming relatively more affordable.

Some of the most popular options from FlightScope and Skytrak, for example, retail between $3,995 and $6,298. The technology is still expensive but not as pricey as the $50,000 set-ups that some professional golfers use.

The ultimate wellness status symbol is cold-plunge tubs.

Everyone seems to be into cold plunges, from influencers to celebrities like Mark Wahlberg. And this year, many folks are opting to take the plunge at home.

According to Google Trends, searches for "cold plunge tubs" peaked in January and are back on the rise this month.

A $132 tub from The Pod Company is one popular option, as is the more luxurious $8,490 tub from Plunge.

Every guy who wants to try rucking needs a strong backpack.

Rucking, or the practice of carrying heavy weight over long distances, is a huge fitness trend this year.

So naturally, many men are now purchasing rucking bags to participate in the activity. Those from GoRuck, which can cost up to $585 each, are especially popular.

The brand also experienced a peak in online searches this month, according to Google Trends.

• Young professionals in China are sharing their "naked resignations" on social media.
• The term refers to quitting your job without having another one lined up.
• Younger people in China appear to be more open to taking time out of their careers to travel.

Gap years haven't traditionally been the norm in China.

Taking a year off work to travel and explore new passions isn't necessarily associated with a fast climb up the career ladder or the pay scale.

But in recent years, young professionals in China have been more willing to share their struggles dealing with long hours and poor pay on social media. The facade of corporate life seems to be lifting as people come to terms with the reality of working exhausting hours without time for themselves.

For more young people, the ultimate luxury is to take time off to escape the grind.

'Naked resignation'

One popular phrase on Chinese social media is "两点一线," which translates to "two points, one line." It refers to the endless commute from home to work and back again without the opportunity to see anything new, Jack Porteous of China-focused consultancy firm Tong Global told Business Insider.

This feeling of monotony and overwork has inspired unsatisfied workers to push back and start videos online of themselves "loud quitting" — publicly sharing news of quitting your job on social media to explore China or further afield for a period of time, Porteous said.

It's a trend similar to the QuitTok social media trend in the West, where China's young workers aren't being shy about resigning from their jobs.

And discussion is rife on Chinese social media about 裸辞 — a term that translates, quite literally, to "naked resignation." And it means just that — quitting one's job without a backup plan to rely on.

Take, for instance, a viral post penned by a 28-year-old on Weibo, China's version of Twitter. The person, who wrote the post on July 5 under a pseudonym, said they resigned without a backup plan right after getting a raise because they wanted to "stop for a while."

"In the last two years, my pay has risen once every half year, but I always thought that the most important thing in my life shouldn't be work," read the post. Business Insider was unable to verify the identity of the social media user.

The post's author also lined up a bucket list of what they intended to do after leaving their job — learning English, getting fit, becoming a better cook, and going on a trip to "see all the great scenery I never had the time to see."

"I don't know if my life will be better after this 'naked resignation.' But I think that if I stay the same, then the things that I don't dare to do at 28 will become things that my older self would simply never attempt," the person wrote. "Life is short. There's no time like the present."

It isn't just this one person who has "naked resignation" on the brain. Weibo is also chock-a-block with trending topics — akin to hashtags — expanding on the topic. Examples seen in BI's search of the keyword included "how much to save before naked resignation," "three things to consider before naked resignation," and "20 jobs to try after naked resignation."

Over on Xiaohongshu, a platform akin to Instagram, people also post stories of their lives after "naked resignation." Some posts detail the pros and cons of "naked resignation." Others read like travel diaries, advocating for a slower, more fulfilling life outside the corporate rat race.

Taking a career break

Porteous told BI that some people are taking the opportunity to spend quality time with family and visit parts of China they never had the opportunity to explore.

He added that activities related to crafting and spending time outdoors have been especially popular with those looking to learn a new skill or reconnect with nature.

A gap year is also an opportunity to visit somewhere outside the traditional bucket list destinations like big cities in Europe.

"There is a preference for niche destinations and unique experiences, aiming to escape reality and immerse themselves in authentic local cultures," Laurence Lim, founder and managing director of branding agency Cherry Blossoms Intercultural Branding, told BI.

For younger people, gap years can allow for personal growth and exploration often before they embark on their careers.

"They want to travel, learn new skills, or engage in volunteer work before committing to long-term career paths," Sally Maier-Yip, the founder of China-focused communications consultancy 11K Consulting, told BI.

"A gap year can provide a much-needed break and help young people enter the workforce more refreshed and motivated," she said.

China's tough work culture and economic downturn

It's no secret that China's job market has been less than favorable for its young graduates and early career professionals.

According to the National Bureau of Statistics of China, the unemployment rate of people aged 16 to 24 was 14.9% in December, compared to 6.1% for those aged 25 to 29 and 3.9% for those between 30 and 59.

The recent economic downturn and the pandemic have led many young people to rethink their careers and try to find new meaning in their lives.

Viral social media trends like "lying flat" are examples of this disillusionment with work, Lim told BI. "It reflects a shift away from traditional definitions of success, focusing instead on freedom, happiness, and health rather than career achievements," she said.

And many of those opting to take gap years come from the tech sector, Porteous said.

It's an industry notorious for the highly competitive "996" work culture," which demands workers clock in from 9 a.m. to 9 p.m. six days a week.

Alibaba CEO Jack Ma once endorsed the grueling schedule, calling it a "huge blessing" for young professionals. Qu Jing, a former PR lead at Chinese tech giant Baidu, stepped down earlier this year after posting videos online ripping into staff who disagreed with her extreme approach to work.

"Finding a decent job in big techs is a dream shared by young aspirants from elite universities," Jenny Chan, an associate professor of sociology at The Hong Kong Polytechnic University, told BI. But succeeding in China's tough tech industry requires full devotion of time and effort, which blurs the boundaries between work and home, she said.

The economic turndown and tough work culture can leave people feeling like mere cogs in the machine of larger corporations, Lim told BI. "They are often disillusioned and demotivated."

Generational divides

With the help of social media, the younger generations are more inclined to question the status quo regarding careers. But older generations haven't felt so favorably about taking time out of work.

"Older Chinese generations are generally suspicious of the concept of gap years," Lim told BI.

"There are articles on Chinese social media criticizing gap years," she said, "arguing that it is a Western concept that does not adapt well to Chinese society."

She said older generations may see it as a hindrance to career progression, while Gen Z is perhaps more open to prioritizing self-awareness and self-care.

"There's a popular internet buzzword among Chinese young people, "Gai溜子," which can be roughly translated to "drifter" on the street," Lim added.

It's a term used to poke fun at themselves for not having a plan and wandering through life. "It reflects a laid-back attitude where they're proud to step back from the traditional hustle and simply enjoy life", she said.

• My father has always been older than most of my friends' dads.
• Our opinions on some topics differ, but we're surprisingly aligned on other things.
• He gives me great advice, and our relationship is built on respect.

I'm 22, and my father has always been much older than my friends' dads. Growing up, this difference was a constant source of fascination. During elementary school events, my father's age always stood out. But over time, what once seemed unusual became completely normal to me.

He would let me help on his farm when I was on break from school. It was more than just bonding; it was an opportunity to learn from his enviable work ethic and perspective. I cherished those moments together, immersing myself in the activities that kept the farm running. He always emphasized that work wasn't just about the tasks at hand but about the person you become through the process. That's not all I learned from him.

We view technology differently

When he finally got his first smartphone, after much convincing, it was an opportunity for me to teach him new things he found challenging to understand. My father was born in the age of handwritten letters and couldn't understand why statuses disappeared after 24 hours on WhatsApp.

Amusingly, he views social media as an utter distraction, while I see it as a tool that enhances my daily life. He frequently warned my siblings and me about spending too much time in front of screens, which led to constantly tracking my screen time and ensuring I kept it as low as possible.

He taught me about hard work

As my siblings and I grew older, he became intentional about instilling a sense of responsibility and agency in us. Every parent wants their children to appreciate the value of hard work, but I think my dad took it a notch higher. He had us set goals annually and develop actionable steps to achieve them.

While his views and approach have sometimes clashed with my more progressive, digitally influenced perspectives, these differences have often led to enriching discussions. We debate various topics, from the significance of social media activism to the evolving definition of success. These conversations not only broadened my understanding but also taught me to value and respect diverse viewpoints.

I was pleasantly surprised by his views on mental health

The pandemic brought to the forefront a significant generational divide in views on mental health. Like many of my Gen Z peers, I found myself struggling with anxiety and depression during the lockdowns. The constant barrage of alarming news, social isolation, and the uncertainty of the future took a toll on my mental well-being.

My father's approach to wellness and happiness, shaped by his boomer values, initially seemed out of step with my own understanding of mental health. He grew up in an era where mental health issues were often stigmatized and rarely discussed openly. Many in his generation value stoicism and resilience, often equating mental strength with the ability to endure hardships without complaint.

In contrast, my Gen Z perspective on mental health is more open and proactive. My peers and I are more likely to seek professional help, use mental health apps, and openly discuss our struggles over lunch.

However, my father's perspective on wellness was surprisingly holistic. He emphasized the importance of a balanced life, drawing from his experiences of overcoming adversity. His approach was centered on maintaining physical health, building strong relationships, and finding joy in simple pleasures. He often shared stories of coping with difficulties in his youth by staying active, engaging with his community, and practicing gratitude.

During the pandemic, his views became a lifeline for me. He encouraged me to establish a daily routine, incorporating physical exercise and regular sleep patterns, which helped anchor my days. He stressed the importance of staying connected with loved ones, even if only through phone calls or video chats, to combat the isolation. His insistence on finding joy in small, everyday activities — like cooking a meal together, gardening, or simply taking a walk — helped me reconnect with the present moment and alleviate my anxiety.

Teaching and learning from each other, my father and I have built a relationship grounded in mutual respect and understanding.

• Summer camps and care cost parents thousands, pushing many into debt or altered work schedules.
• Parents are facing rising childcare costs, exacerbated by post-pandemic economic pressures.
• Despite financial strain, parents view summer activities as essential for their children's wellbeing.

Between taekwondo, time at the local community center, and other types of camp and summer programs, Paige Connell and her husband will end up spending over $6,000 for her two oldest kids to stay busy this summer.

Connell created a spreadsheet to keep track of the varying costs, times, and weeks for these programs. It shows that the family paid $360 per week for one of the children and $345 for the other for recreation department programs. One of her children is attending taekwondo, which costs $300. One child will partake in a music camp for several days, which costs over $500.

Camp is not the only summer expense for Connell's family. They also took a week-long family vacation at a beach house.

The 34-year-old mom of four said most of these summer camps were already paid up front earlier this year. Connell, who also has two younger kids who attend daycare, said of the older children's camps, "that's kind of our childcare for the summer" given she and her husband work full time.

"It is something that we budget for, so we try to plan accordingly for how we're going to pay for it, and obviously in combination with paying for our other childcare throughout the year," she said.

Summer fun may be priceless for kids, but it's increasingly costly for their parents. Some go into debt to pay off a summer; others adjust their work hours, scramble to find care, or have to deal with their children feeling left behind by peers headed to pricey summer programs.

It's a function of a system parents say isn't cohesive with the needs of working caretakers, like how school ends before many professionals' workday or how daycares sometimes have sporadic schedules. And, like other facets of the economy, it's something where costs are only growing.

For parents, "it's such a hard dichotomy because obviously summer's exciting, kids are out of school, they're excited for the opportunity to spend more time with them," Courtney Alev, Credit Karma's consumer financial advocate, told BI. "But this need to continue to find additional childcare — and often more expensive — can just add a lot of stress to parents."

Why summer camps are so expensive, and what it means for families

Tom Rosenberg, president and CEO of the American Camp Association, is well aware of camps' costs and demands.

"The price of camp has gone up as the costs of operating a camp have gone up, but the camp operators in general are not able to raise their prices sufficiently to cover the increase in their costs," Rosenberg said. Camp directors, like childcare providers, have struggled to staff up and boosted wages to try to lure in young adults in a competitive market.

"Kids need more today, so we need more staff to manage to take care of the children," Rosenberg said, comparing needs to pre-pandemic times. "Camp experiences are unique opportunities for them to learn and grow undistracted by social media and technology and with a measure of independence from their parents and family."

Camps are also coming up against an expensive — yet quiet — headwind that's eating away at wallets: Skyrocketing insurance costs.

"Both on the property and casualty side of things, insurance costs for youth programs like this are through the roof, frankly, if they can get coverage," Rosenberg said. "There's food and transportation, the cost of capital to expand their facility to be able to take additional campers in or to just operate their program; everything has gone up."

Rosenberg said the challenge "is to be able to serve more kids in an affordable way given the inflationary environment that we are currently in."

For Alex Mnatsakanov, summer is worth going into debt.

The 45-year-old single dad, who shares custody of his daughter, describes her as creative and extroverted. Summer is a chance for the pre-teen who dreams of being on Broadway to hit the stage at theater camp and star in at least three different shows.

"It's great seeing her be confident on stage — and she is very confident on stage — but it's also, I feel like, has been tremendous for her mental health as an outlet to support her through things that have gone on in her life," he said.

And so, he and his co-parent are shelling out around $3,000 total this year for two different day camps that add up to six weeks of activities — but that's only about half of the summer. He said those costs usually end up on a credit card. But that investment is worth it to not see his kid languish bored all summer.

"The experience, the outlet for all of that creativity, for all that interaction with peers is worth it for me to potentially grow my debt," he said.

Indeed, an Intuit Credit Karma survey of 2,006 American adults in June found that 29% of parents said they can't save money during the summer because of childcare costs, and over a third said they need to adjust their work hours because care is so expensive.

Meanwhile, 23% of parents, among those who reported they'd be paying for summer programs, expected to pay over $1,000 a month per child during the summer. Broadly, 61% of parents with kids under 18 years old said it "feels even more expensive to raise kids in the summer months." And 28%, among those who noted enrolling their kids in programs, said they planned on taking on debt to help cover the costs of summer programs.

"That — even if it's necessary for certain families — is really concerning given that credit card interest rates and debt, they're at really high levels right now," Alev said. "And so going into that debt now is likely going to end up costing you a lot more over time."

Connell, the parent with two of her children attending various camps this summer, noted that she understands how expensive it is to operate and staff camps and that the people working there "deserve to be paid well."

"I think, unfortunately, the costs are very prohibitive to parents," Connell said, adding that government subsidies and funding for camps and care "would go a long way" for workers at these places and families.

It's not just a summer problem. "I think the cost of childcare is a major infrastructure failure in our country. I think it is disproportionately impacting women who are leaving the workforce because they can't afford childcare," she said.

And other small expenses — like sending a lunch or giving kids spending money for camp excursions — add up. Dana Bowling, a mom of an 11-year-old and a 9-year-old, said she pays for a hot lunch daily for her kids' day camp, and then also for a frozen treat — she knew if she didn't pay for that one, she'd hear from her kids every day saying that everyone else got one. On top of all of that, some parents are forking over thousands for services that help their kids pack and prepare for camp.

Bowling wants to give her kids what she sees as the important cultural experience of going to camp. Bowling, who lives in LA, sends her children to a Jewish summer camp, which has long been held as an important cultural touchstone in the American Jewish community.

"I think it's a big deal, and it's kind of necessary for kids to experience those things. So it's a non-negotiable, but because of that, it's so expensive," she said. She estimates that, just for day camp, they're spending around $150 to $200 per kid a day; sleepaway camp is running them around $6,000 per kid for three weeks. To make costs manageable, she uses a payment plan to pay throughout the year for camp.

"It's kind of like highway robbery because they can charge whatever they want, and we'll have to do it," Bowling said.

While camps and other summer activities can be costly, there are some options for assistance out there.

"We do offer financial aid at all of our locations, and no family is ever turned away because of an inability to pay," Lisa Garcia, senior executive of youth programs, afterschool and day camps at the YMCA of Greater New York, said. "At the Y, we really want to make sure summer camp is accessible for all."

Garcia, who said she was a camp counselor back in the day, sees the benefits of attending camp. "It's where campers can be silly and be who they are and explore who they want to be, fine-tune their skills, develop those skills that they already have," Garcia said.

Some parents agree that summer experiences are worth the cost.

"I do feel like the experiences for her are worth it. I'm a strong believer in less about material things and more about experiences where you do create memories that last a lifetime — not to sound super cliché," Mnatsakanov said of his daughter. He added: "I want her to five, six years down the road when she's a teenager and doesn't want to do camps — because she's too cool for school — have these memories from her tweens."

How much are you spending on activities and childcare this summer or in a year? Share with these reporters at jkaplan@businessinsider.com and mhoff@businessinsider.com.

• Mai-lan Phan and her husband Ryan Wagoner achieved financial independence but chose not to retire early.
• They amassed over $4 million by living modestly, investing wisely, and avoiding lifestyle creep.
• Despite their wealth, they prioritize intentional spending, future planning, and financial education.

Mai-lan Phan and her husband, Ryan Wagoner, both 36, reached financial independence, but neither wants to fully retire early.

They reached a total net worth of $4.1 million, including their two homes, from working high-paying jobs, cutting back on spending for most expenses, and avoiding lifestyle creep. Phan left dentistry full-time after experiencing nerve pain and having her son, working part-time while Wagoner works full-time. They live modestly and save for their family's future, though they still go on vacations and to Seahawks games.

"Financial independence is not having to work full-time and the freedom to be able to send my child to full-time preschool, 40 hours a week, and come home and be able to do the things that I want to do," Phan said.

Many Americans are working to achieve financial independence — or having enough savings or income to live comfortably for life. Some are hoping that will allow them to retire early, thus making them part of the FIRE movement, though some like Phan and Wagoner continue working for extra financial security and personal satisfaction.

"I want to be able to walk away from any job if it's not working," Wagoner said. "What I really care about is the financially independent part, so if I wanted to take a year off and go travel, or if I wanted to get out of a job that is really stressing me out and causing me mental difficulties."

Working toward financial independence

Phan was born an hour south of Seattle to parents who "weren't wealthy by any means," though they took her on vacations and allowed her to participate in various extracurricular activities. Her parents taught her to live frugally and only spend on what's important.

She worked at Subway, drove a used car, and got a phone as a senior in high school after most people in her grade. She got financial aid for her bachelor's degree and then enrolled in dental school. She rejected half the student loan package offered because she didn't need it and wanted to live debt-free as soon as possible after graduation.

Across eight years of school, she borrowed $140,000 — $80,000 was from the government, which she paid off two years after graduating, and $60,000 was from her parents, whom she paid back a year after graduation.

Wagoner grew up in a small Michigan town and worked at his father's grocery store starting at 14, allowing him to buy a car before his 16th birthday. His accountant mom taught him how to set up a bank account and spend frugally — though he admits there weren't many places in his town to do so.

He was the first in his family to attend college, and he chose Michigan State University with various scholarships paying for half his tuition. He paid for his living expenses through internships at Microsoft and drove his car until it stopped working. He read financial independence books emphasizing spending on important things and cutting back on unimportant ones.

He saved up enough to buy a condo, knowing his income was stable and growing, which he and Phan later paid off and rented to tenants.

Phan and Wagoner met in 2015 while he was still at Microsoft — he had four more years of income, 401(k) matching, and no student debt. While dating, he told her he wanted to retire by 40. Phan was less convinced — she wanted to start a dental practice and knew it would take years to get it off the ground.

"I thought he was crazy, and I said, I'm not going to eat rice and beans the rest of my life," Phan said.

They decided to map out their family expenses and used Wealthfront, an automated investment service, which helped them build wealth through investments and high-yield savings. They both have kept their finances separate but share their numbers openly.

Starting to strategize

They didn't strategize much in their first few years of dating, instead just living below their means without sacrificing their quality of life.

They paid for their wedding themselves in 2019 and then planned and paid for their honeymoon right before the pandemic. They also put 25% down on a home with an interest rate of 2.75%, which they chose not to pay off because of the low interest rate.

"We got approved for a $1.5 million house, and I told my realtor, don't waste your breath showing us these houses; we're not going to spend it," Phan said. "We're choosing not to have a very large mortgage payment, so that positive cash flow has really propelled us above our colleagues."

Over the last few years, they've kept expenses down by driving a used car, investing in an e-bike instead of a second vehicle, and being intentional about food purchases. They've both maxed out their 401(k)s and IRAs and do everything they can to strategize their tax advantages. They also automated their savings and investments, which helped them keep expenses down and stay more organized.

They had a son in 2020, and Phan transitioned from a full-time dentist to a stay-at-home mom doing part-time dental work. Nerve damage in her right hand prevented her from returning to work full-time. She said their finances were solid enough from not "keeping up with the Joneses" that she could work less while her husband continued to work full-time. Two years ago, Wagoner switched to a job paying two-thirds less than his Microsoft job, though it's in the video game space, which he enjoys more.

Phan made a spreadsheet to track her net worth, and she was surprised at the number: over $4 million in total assets, about two-thirds of which are liquid. It was enough for both to fully retire, though they chose not to so they could send their kids to college without worrying about the financial burden.

Planning for the future

They put almost $100,000 in their son's college fund, which they will continue to contribute to, though when he turns 16, they will encourage him to find work. They plan to enroll him in public school but are considering some private options. Phan said she's already toying with starting his financial education young by giving him a toy allowance.

"I want him to understand the value of money, that he can't just get whatever he wants, but if he works hard and saves up, he can have his guilt-free spending," Phan said. "I just don't want him to have the pressure of paying for school like I did."

They've discovered ways to parent without breaking the bank, such as using public resources like parks and getting cheap museum passes.

Still, they prioritize spending on what they love, such as recent vacations to Mexico and Paris and season tickets to the Seahawks. They find cheap flights, such as $500 round-trip flights to Thailand, and other ways to reduce travel costs without sacrificing quality. They hope to take their son on a months-long trip to Europe or Asia to immerse him in different cultures.

Phan recently hired an interior designer to redo the furniture in their primary home. Wagoner recently spent money on a new office setup, a gym membership, and eye surgery.

Sometimes, it's hard for her to spend, as she has little desire for anything luxurious, though she said she's trying to feel less guilty about some higher-cost purchases. They have also loaned over $400,000 to friends as business loans.

Recently, they've talked about combining their money and being more open about their finances, allowing them to make better plans for the future.

"We are being more transparent and looking at all of the numbers and being able to talk about these things and say, looking at this account that will keep growing, I think we can do this," Wagoner said.

They've considered what they would pivot to after full retirement — Phan would become a wedding planner, while her husband would consider being a football coach.

"We've lived a very humble life and flown under the radar, which is how I think we've been able to all of a sudden catapult into this wealth just on hard work," Phan said.

Are you part of the FIRE movement or living by some of its principles? Reach out to this reporter at nsheidlower@businessinsider.com.

• Growing up, my names were mispronounced so often I considered changing them.
• Kids made fun of my maiden name by tying it to accentuated physical characteristics.
• While names can come and go, connections remain—so I decided to leave my name alone.

My maiden name has 20 letters, with half residing at the end — Sheryl Lynn Sirotinsky.

Imagine growing up with an uncommon spelling for your first name, "S" instead of "C," and a last name people tripped over. As a youngster playing make-believe, I kept Princess Sheryl and dumped Sirotinsky in fairy dust.

Confusion began with my first name and went down from there

From kindergarten through high school, a teacher would invariably yell out for roll call, "Sheri Siro-sky" (sounding like heaven above rather than "ski"). I couldn't understand the difficulty in reading these names — all others were phonetically accurate.

One instructor asked, "Wouldn't you rather go by Sheri?" I hated being called "Sheri" and defended my parents' choice of name despite its history.

Around age 10, I learned "Sheryl" was selected in memory of a deceased cousin.

Mom, Grandma, and I were sitting at the kitchen table when Grandma mentioned, "That poor girl dying in a train accident."

"Girl? I shrieked. "Don't you name a baby after someone who lived long?"

Grandma joked, "Don't ever get on a train, and you'll be fine."

Already harboring a healthy dose of superstition, it would take a herculean effort to get me back on the "L" in Chicago, the Metro when living in DC, and the same strength to ride the New York Subway. I'd love to see the countryside by railway, but I still can't mentally step on board.

Classmates made up nicknames for me

As a teenager, known for big boobs and a nose out of proportion with its face, kids often referred to me as "Cyrano" (as in "Cyrano De Bergerac," the man and subsequent play known for his ugly nose) and called me "Siro-tit-sky." Students who couldn't figure it out would yell, "Sheryltinsky," like a one-named superstar. I'd laugh, but nicknames hurt.

I married my high school sweetheart, so I had practiced drawing my future signature in cursive, print, backward, and forward in every notebook since age 14. But soon after saying "I do," even with having said "Stillman" countless times, the reality of losing my identity sank in. While secretly postponing the paperwork erasing the person I had been for 26 years, a kind assistant arranged for a new office nameplate and 500 business cards to be ready upon returning from honeymoon.

Swapping Sirotinsky for Stillman did make life simpler.

I got divorced but kept the name

Divorcing when my kids were adolescents, sharing a surname was important to me. Plus, who'd return to one with four syllables? On the anniversary of my 30th nuptials, with kids now adults, I considered releasing the last name linking me to my ex. But what would I change it to? I made up something merging the past and present — "Skye" — and floated it with my offspring. The youngest liked the idea; the oldest said I was crazy. I worried, likely projected, that they would feel abandoned.

Of course, I realized more than a name connects me with my kids and their father. I pondered who I'd been for over 56 years. Ultimately, our experiences shape who we are, and while names can come and go, but staying "the Stillmans," no matter my children's ages, is here to stay.