Gender-based violence in French universities: ‘I decided something had to change’

The most prestigious universities and business schools in France such as Sciences Po and HEC train the country’s future executives and politicians. But due to the prevalence of gender-based violence that takes place on campus, for many students, they are also spaces that don’t feel safe.

On November 15, Nantes University published the results of a report and found that 4 of every 10 of its students have been victims of sexual and gender-based violence. The majority of victims identified as women or non-binary. 

A few months earlier, the French Observatory on Gender-Based Violence in Higher Education published its own report based on 10,000 student testimonials, which found that more than half of students don’t feel safe in their institutions, with 4 in 10 saying their school doesn’t do enough to combat gender-based violence. 71% of respondents identified as women.  

Run by student associations across France, the Observatory helps academic institutions track the gender-based violence and draw up preventative action plans, maps existing student initiatives and holds student conferences on the topic. 

In an October 2023 editorial published by French daily Libération, the Observatory and other student groups called for “an urgent increase in the [financial] resources dedicated to combating gender-based violence in higher education and research institutions”. A year earlier, in October 2022, Minister of Higher Education Sylvie Retailleau announced the budget to combat gender-based violence in French universities would be doubled. While student groups called this “a step in the right direction”, they said the €3.5 million allocated was “far from enough to cover” more than a few workshops and campaigns to raise awareness.    

“Establishments must set up the necessary tools to help prevent, report and support victims of gender-based violence,” the groups wrote in the editorial.  

That is where Safe Campus comes in. Though other French collectives combatting gender-based violence in higher education like CLASCHES exist, providing tools for victims and raising awareness on campuses, Safe Campus is the first organisation aimed at implementing preventative tools specifically in higher education institutions across France.  

Its founder, the 30-year-old Marine Dupriez, decided to set up the organisation after having studied at a top French business school, where she witnessed countless cases of gender-based violence and sexism.

FRANCE 24: What prompted you to take up the challenge of combatting gender-based violence in French universities?  

Marine Dupriez: What I experienced at business school was a deeply sexist, racist and homophobic culture. When I was a student, there was a school newspaper that would come out with a “whore of the month” for each edition. At the time, it’s not like the administration actively supported the newspaper, but it wasn’t strictly prohibited. Now practices like this have been banned.  

There is also a specific way in which prestigious universities in France are structured. Student associations are a key part of student life in these schools, and many students join these groups because it’s important for their education – it’s vital for networking. But at what cost? The recruitment process into these associations bring about group dynamics and integration rituals that are often violent. There are very little “positive” integration rituals.  

I eventually began volunteering for a number of associations that taught secondary school students about sex and emotional life while I was still in university. The more time passed, the more I realised how important it would be for these things to be taught in higher education institutions. 

After graduating, I joined an organisation focussed on the prevention of domestic and sexual violence. I would talk to my former classmates about the work I was doing and they would say how wonderful it was, but nobody would talk about what happened while we were at university. 

It’s as if my work and our shared experience of gender-based violence were two completely separate things. I decided that something had to change and took matters into my own hands.  

Can you briefly explain when you started Safe Campus and what it is you do?  

When I started Safe Campus in September 2019 and began contacting universities, all I got were refusals. Institutions would tell me that gender-based violence didn’t exist on their campuses, and if it did, that they had it under control. They closed the doors in my face. I almost gave up, but in January 2020, an investigation published by French online newspaper Mediapart found that gender-based violence was running rampant in these elite business schools. Universities started contacting me and we began working together the way we do today.  

We use a three-step approach. First, we work on improving or setting up reporting protocols. What that means is, if I’m a student and I’m experiencing gender-based violence, I’ll know exactly who to turn to and how. I will also know exactly how my report will be filed and the measures taken to treat it. We work on ensuring there is a clear protocol, staff at hand to deal with reports and that everybody knows this protocol exists.  

Marine Dupriez speaks to students about gender-based violence in order to raise awareness on the issue. © Marine Dupriez, Safe Campus

Then we train people according to their role in the protocol. We’ll work on how staff can support a victim, for example, in particular on what we call the “first listening session”, the first interview that allows a victim to speak out. We also provide training on investigations, because it’s up to universities to carry out disciplinary hearings to get to the bottom of a case.  

The last thing we do is raise awareness among students. And I use the term “raise awareness” intentionally. It’s not the student’s responsibility to get training on gender-based violence, it’s the administrations. We talk to students about how to prevent gender-based violence, consent, the legal framework and stereotypes, for example.  

It’s very important that this is the last step because very often when we intervene in an institution, people end up identifying situations they experienced as violent and turn to the administration to report what happened. If those taking in a victim’s report are not properly trained, it’s can be even more disappointing or hurtful.     

Does your work change depending on which university you intervene in?  

Gender-based violence is not the same across all universities in France. In prestigious establishments (“grandes écoles” in French) like business schools or engineering schools, there are more cases of violence between students, particularly during ritual parties or integration events. In bigger universities where campus life and student associations aren’t as present, there tends to be much more violence between professors and students. Often between a thesis director and their student, for example.  

There are also differences between private and public universities. In public institutions, there is no choosing sanctions or penalties, they are already detailed in French law. For example, the law stipulates that any civil servant who has knowledge of a crime or misdemeanour must report it. Private establishments on the other hand are more or less free to choose how to sanction gender-based violence.  

What is your biggest challenge?  

My challenges have changed with time. But there is one that persists, and that is the financial challenge. Unfortunately, these days, higher education institutions still don’t have enough time nor enough money to allocate to the prevention of gender-bases violence. So we’re obliged to do short interventions with large audiences, which inevitably will have less of an impact than long interventions with small groups.  

There are laws in France stating that each university should have an advisor or specialist to help victims of gender-based violence. But there is no obligation for these universities to open new jobs, or even to increase the salaries of staff who become advisors. It’s so important to relate the legal framework to the reality on the ground.  

What about when you speak to students? What are the biggest sticking points?   

It changes a lot depending on what year the students are in and what kind of university they’re attending. First year students are at an age where they are questioning their identity, their sexuality. They’re adults but they’re still discovering themselves. So things can get a bit tricky when we try to raise awareness, there can be frictions, because they’re still figuring things out and getting to know one another.  

But debates and frictions take place regardless of what year students are in. We sometimes get students who aren’t happy at all with what we’re saying, who find our presence extremely disturbing. That happens. We’re talking about difficult topics like sexual violence, but we’re also talking about consent and linking it to their everyday lives. For example, is it OK to get your mate to drink when they don’t want to? How does inebriation affect consent? 

The use of alcohol is actually a very big sticking point. And the notion of consent can really call into question habits that some students don’t want to lose.  

What makes you hopeful?  

When I work with universities today, especially prestigious grandes écoles, the majority of female-led student associations are being taken seriously. They speak out. They aren’t afraid of escalating issues to the administration. They’re being listened to. That would have been unimaginable four years ago.  

There is one university in particular where a female-led student association pushed so hard to prevent gender-based violence that now any student group leader has to go through mandatory training before being recruited.  

As someone who could only do this kind of work after graduating, I find it extremely moving. 

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Atopic dermatitis: Timely access is needed now

Moderate-to-severe atopic dermatitis (AD) is not just an itch and may not just go away on its own.

It is neither a small rash nor just some dry skin, and it doesn’t only impact children.

The fact of the matter is that one in three pediatric AD patients have moderate-to-severe disease. Not all will outgrow their AD; those that don’t face a lifetime of disruptive symptoms. A lifetime of intense itching, redness, inflammation and discomfort can have a profound impact on an individual’s physical and emotional well-being.

Misunderstandings about the complex nature of the condition means that AD is often managed with less-than-optimal outcomes. However, too many people require more than just topical and anti-inflammatory treatment. In fact, millions who live with moderate-to-severe AD without the necessary treatment experience lifelong implications, impacting life events such as education, career, marriage and personal family decisions.

Furthermore, AD has implications beyond the individuals living with it. Being a caregiver for someone living with AD can have substantial mental, physical and financial consequences. For example, research has shown that parents can spend approximately 22 hours a week applying any treatment they can find for their children – including moisturizers, wet wraps or bleach baths – to alleviate painful, chronic, debilitating flare-ups of inflamed, raw and bleeding skin.

Ensuring children with AD and their caregivers have appropriate access to effective treatment can be vital to address the frustrating, inefficient and recurring cycle of time-consuming visits to general practitioners.

Ensuring children with AD and their caregivers have appropriate access to effective treatment can be vital to address the frustrating, inefficient and recurring cycle of time-consuming visits to general practitioners to try and manage symptoms and stop chronic flare-ups. Importantly, this approach would not only improve health outcomes, but it could also positively impact AD patients and their families.

Impact of AD is beyond the visible and the individual

While it is easy to think of AD as a skin disease, the lifetime impact of the condition on a person is more than what people see.

While it is easy to think of AD as a skin disease, the lifetime impact of the condition on a person is more than what people see.

For instance, missing school and social activities can become a normal occurrence for children with severe AD. Their daily routine is frequently overshadowed by appointments, treatments and flare-ups, as well as the emotional burden of shame and low self-confidence about their physical appearance. This burden results in some children struggling to keep up with their peers, which has a bearing on their quality of life and their educational and social development. A study has shown that 12.5% of children under three who have severe AD experience developmental delays in motor skills, communication, relationships and play.

An often-overlooked aspect of living with AD is that the condition can lead to significant sleep disturbances, often caused by persistent itching.

“Sleep is a huge factor that’s affected by AD and lack of sleep affects every aspect of your life. It doesn’t allow you to concentrate in school if you’re sleep deprived [and] you’re definitely more moody,” explained Dr. Patrick Finklea, a pediatrician and parent of a child living with AD.

As children get older, AD-associated issues broaden the gap with their peers, leading to increased social difficulties, isolation and a significant mental health impact. According to a survey from the National Eczema Association, 20% of parents say that their child is bullied at school because of their eczema (including AD, the most common form of the condition) and 75% highlight that their child experienced lower self-esteem as a result.

In addition to the physical and emotional strain on caregivers, the financial burden of attempting to alleviate a child’s chronic symptoms, arising from lifestyle adjustments, lost wages and out-of-pocket costs, are substantial. Caregivers may also have to consider a career change or give up work altogether due to the demands of looking after someone with AD.

Act now to ensure a brighter future

It is vital to stop thinking about AD as a childhood issue – one that will be outgrown. Instead, it needs to be prioritized as a serious lifelong condition and recognized as a chronic and debilitating disease with lasting and profound impacts.

It is vital to stop thinking about AD as a childhood issue – one that will be outgrown. Instead, it needs to be prioritized as a serious lifelong condition and recognized as a chronic and debilitating disease with lasting and profound impacts; a disease that not only affects the individual but also the social ecosystem.

In Europe alone, the total direct cost to society associated with moderate-to-severe AD is estimated at €30B annually.

Given the substantial individual and societal costs of AD, decision-makers need to urgently implement an effective response to meet the needs of patients. In Europe alone, the total direct cost to society associated with moderate-to-severe AD is estimated at €30B annually. Therefore, prioritizing investment in early and effective AD interventions – including timely access to specialists and effective treatments – can have significant impacts on the overall cost and outcomes of disease management.

As MEP Sirpa Pietikäinen (EPP, Finland) said at a POLITICO Spotlight debate last year, “Countries always reimburse the cheapest drug on the market, then the next cheapest, then the next one. This ladder approach is wasting money and enabling the condition of the patient to deteriorate so much they can’t recuperate.”

We call on decision makers to implement evidence-based policies to improve access to care and prioritize timely intervention to manage AD – all with the aim to advance the health and well-being of individuals and contribute to the long-term economic and social prosperity of society.

MAT-GLB-2305184 V1.0 | October 2023



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I’m a 61-year-old single librarian and ‘proud’ Democrat from Maine. Should I move to Florida like Jeff Bezos?

I finally have something in common with Jeff Bezos. He is moving to Miami. I too am thinking of moving to Florida in the next year or so. My parents retired there 25 years ago; my father passed away in 2019, but my mom is still alive. I am also nearing retirement, and thought I would follow in their footsteps. I have a house in Maine, which I intend to sell when I finally make the move. I’ve lived here for 11 glorious years, and made a lot of friends. I’m a librarian, but don’t believe anything or everything you have heard about librarians, we are a social lot. 

I’m 61 and earn $85,000 a year, and have a lot of friends. But I reckon my mom has only a few good years yet, and she is slowing down. I bought my house for $160,000 and it’s now worth $350,000 or thereabouts, if I can sell it with the way interest rates are going. If not, I could rent it out. So my question is: Should I retire to Florida like Jeff Bezos? I’ve been window shopping for properties around Sarasota and Tampa, but I’m flexible. I am proud to live in a blue state, but I also want to be within an hour or so of my mom, so I can see her as often as possible. 

I’ve been feeling restless and, frankly, glum lately. And I thought this change would do me good. Am I mad? Is this a good move?

Florida Bound

Related: My ex-husband is suing for half of our children’s 529 plans — eight years after our divorce. Is he entitled to plunder these accounts?

“No matter how many billions of dollars you have in the bank, there’s one thing that money can’t buy — time.”


MarketWatch illustration

Dear Florida Bound,

You and Jeff Bezos do share that one concern about wanting to be near your aging parents. No matter how many billions of dollars you have in the bank, there’s one thing that money can’t buy — time. The Cape Canaveral operations of his space company, Blue Origin, are also in Florida, so it’s a convenient business move and a tax-savvy one. Maine has a capital gains and income tax; but Florida, like Washington, has no state income tax; unlike Washington, it has no capital-gains tax. You and Bezos will be following in the footsteps of former president Donald Trump, who lived in New York before he tax domiciled at his Mar-a-Lago Palm Beach estate. 

Billionaires — not unlike retirees — tend to move out of states with estate taxes, according to a recent study by researchers at the University of California, Berkeley and the Federal Reserve Bank of San Francisco. The trend grows stronger as billionaires grow older. But whether you’re a billionaire or a mild-mannered librarian, when you move, you should move. If you spend more than 183 days in Maine per year and/or still have a home there, and you do not spend a similar amount of time in Florida, the tax folks in Maine could ask you to pay Maine income tax. You may have to keep records of your comings and goings (airline tickets and credit-card receipts etc.), but tax agencies can also subpoena your cell-phone records.

Should you move to Florida? Be prepared for the humidity — and the culture shock. You may be used to those lovely 78°F/26°C summers in Maine. Try swapping that for 95°F/35°C. Florida is a very different place to Maine, both culturally and politically. You may find yourself living next-door to an equally proud Trump supporter. If you enjoy living in a blue state, assuming you are a supporter of President Joe Biden, how would that make you feel? Or are you living in a Democratic blue cocoon (or lagoon)? Do you have friends across the political divide? We have a presidential election in November 2024. Expect nerves to be frayed.

The good news — yes, I have good news too — house prices in Maine and Florida are almost identical. The average price hovers at $390,000 in both states, according to Zillow
Z,
-1.58%
.
Just be aware of the rising cost of flood and home insurance in the Sunshine State. You are also likely to be surrounded by people your own age: Florida is the top state for retirees, per a report released this year by SmartAsset, which analyzed U.S. Census Bureau migration data. A warm climate and zero state income taxes consistently prove to be a double winner: Florida netted 78,000 senior residents from other U.S. states in 2021 — the latest year for which data available — three times as many as Arizona, No. 2 on the list.

I spoke to friends who have retired to Florida and they say it’s not a homogenous, one-size-fits-all state. “It’s not all beaches, hurricanes, stifling year-round temperatures, and condos,” one says. “It’s possible to escape northern winters without committing to these conditions.” One retiree cited Gainesville in north-central Florida, the home of the University of Florida, as “diverse and stimulating,” but noted that the nearest airports are in Jacksonville (72 miles), Orlando (124 miles), and Tampa (140 miles). Another Sarasota retiree was more circumspect, and told me: “Be careful how you advertise your political affiliation.”

Perhaps where you belong for now is close to your mother. Spending time with her is a top priority, but brace yourself for a new living experience in Florida (and, while we’re at it, alligators). The siren call of home grows stronger as we get older, but “home” also means different things to different people. For some, it’s a place where they can live comfortably, and within their means. For others, it’s where they have a strong sense of community, be that friends, family, or like-minded individuals, or those with whom we can respectfully disagree. People who have a support system around them tend to live longer, so keep that in mind too. 

We can change so much about our circumstances: buy a new car, try a new hairstyle, even go to a plastic surgeon for a new face. There are all sorts of remedies at our fingertips. If all else fails, there’s a pill for that. Or an app that will change our life, or at the very least lull us to sleep with the sound of whales or waves. We may be tempted to believe that if we could change our circumstances, our house, our job, our bank account, or even the town, city, state or country where we live, that we could reinvent ourselves in our own eyes and the eyes of others, and turn our frowns upside down.

There’s just one, not insubstantial problem: we take ourselves — and all of our neuroses — with us.

You can email The Moneyist with any financial and ethical questions at [email protected], and follow Quentin Fottrell on X, the platform formerly known as Twitter.

Check out the Moneyist private Facebook group, where we look for answers to life’s thorniest money issues. Post your questions, tell me what you want to know more about, or weigh in on the latest Moneyist columns.

The Moneyist regrets he cannot reply to questions individually.

Previous columns by Quentin Fottrell:

If I buy a home with an inheritance and only put my name on the deed, does my husband have any rights? 

I cosigned my boyfriend’s mortgage, but I’m not on the deed. I didn’t want to marry again after a costly divorce. How do I protect myself?

My mother claims I’m in her will but refuses to show it to me. Should she put my name on the deed to her home?



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It may take $10 million to achieve ‘financial freedom,’ say ‘Earn Your Leisure’ hosts

Troy Millings, left, and Rashad Bilal, co-creators of Earn Your Leisure.

Source: Tyrell Davis

Rashad Bilal and Troy Millings are among a growing class of financial influencers who want to help people be smarter about money.

The duo — a former financial advisor and a teacher, respectively — launched the podcast “Earn Your Leisure” nearly five years ago with a mission to promote literacy around money and entrepreneurship.

About 1 in 7 people lost more than $10,000 in 2022 due to a lack of financial literacy, according to a study by the National Financial Educators Council.

“I realized there were certain things that weren’t taught inside schools — financial literacy and financial education being one of them,” Millings said of the idea to create Earn Your Leisure.

More from Personal Finance:
As mortgage rates hit 8%, home ‘affordability is incredibly difficult,’ economist says
Student loan borrowers reenter ‘a very messy system’
The 10-year Treasury tops key 5% level: Here’s what that means for you

Today, Earn Your Leisure has expanded to create multiple podcasts, host live events and offer an online educational platform, EYL University. It has 1.4 million Instagram followers and another 1.4 million YouTube subscribers. Its flagship podcast has an average 3 million downloads a month, said Bilal and Millings. It’s also developing a financial literacy curriculum for high schools.

CNBC interviewed the duo — who have been friends since childhood — to talk about personal finance and financial literacy in the U.S.

This interview has been edited and condensed for clarity.

‘Investing is not just for rich and wealthy people’

Greg Iacurci: You told CNBC last year that your “purpose is financial literacy and empowerment.” When it comes to financial literacy, what’s the No. 1 mistake you see people making with their finances?

Rashad Bilal: Not understanding the importance of investing, or [not] knowing how compound interest works.

For a long period of time, investing was something that people looked at more as a luxury, not a necessity, [thinking] if you’re able to invest then you’re in the top 1%, or you have to be wealthy to even consider that.

Investing is not just for rich and wealthy people. It’s for everybody. You can start with smaller balances and dollar-cost average.

Troy Millings: The relationship with money: People don’t understand what to do with it or how to save it. These are simple concepts we’re not taught. When we don’t know what to do, we do what we know, and that’s often spending outside our means. Mistakes are made because nobody is educated.

People may have heard that investing and compound interest are important but might not know why. Can you speak to that?

Bilal: The only way to really achieve financial freedom is if your money is growing without you working for the money. How to achieve that is through investing. One dollar will only be $1 if it’s saved in the bank. But $1 can become $2 if it’s invested.

Most people understand this without even fully realizing that they understand it because they have a retirement plan. The whole point of a retirement plan is investing. You put money into a 401(k), and that money gets invested with the expectation that when you’re 65, 70 years old you’ll have a nest egg you can draw from and live off of in retirement.

The only pathway to not working forever, to having money in abundance, is to find ways to make more money with the money you currently have.

What it takes to achieve financial freedom

Troy Millings, left, and Rashad Bilal, co-creators of Earn Your Leisure.

Source: Greenleaf Multimedia

You mentioned financial freedom. How much money does someone need to be financially free?

Bilal: I think everybody is different. I think it depends on where you live. But I would say, I think you have to be in the eight-figure-net-worth range if you live in suburban or metropolitan areas. I would say around that $10 million figure would provide some level of comfort if other aspects of your life are maintained.

And what is financial freedom?

Millings: I think it’s having enough financial resources to pay for your lifestyle, your living expenses, and also allows you money to invest.

It could differ. It could be in that eight-figure range. Or it could be seven figures. It’s really about having the financial resources to do what you want and invest and create generational wealth. It needs to be something that lasts for generations.

Earn Your Leisure co-founders on the importance of financial literacy

Some people might hear that — seven or eight figures — and think, “How is that possible for me?” Do you think it’s possible for most people?

Bilal: Most people probably aren’t going to make $10 million — I’m just being honest to the question you asked. We have to be honest.

But some people will. This is why we’re big on entrepreneurship, we’re big on investing. You might not be able to accumulate $10 million in your lifetime, but you might be able to accumulate $1 million or $1.5 million. That’s still better than being 70 years old with $20,000 in your bank account.

I think the aspiration towards a certain goal, you might not be able to actually obtain that goal, but if you fall short you’ll still probably be better [off] than you would have been if you had no aspiration and didn’t follow any rules or didn’t try to invest or start a business; you live off what you have. You won’t buy a $1 million home if you only have $1,000 in your bank account. Your life will still be better financially than if you didn’t follow the pathway towards the goal.

Making it ‘cool to be educated’ about money

For the person who’s just starting out investing, how would you suggest they go about it?

Millings: When you’re young, you want to be as aggressive as possible, and when you’re older, you want to get more conservative. Risk mitigation is a huge part of that. We always tell people to start with indexes — an entire index or entire [industry] sector in an exchange-traded fund. That keeps you from having the volatility of watching a stock either appreciate — where you might get some upside — or depreciate, where the risk on the downside is far greater. 

High school classes in financial literacy use real-world examples to teach budgeting

In a recent discussion with entrepreneur and musician Sean “Diddy” Combs, you mentioned that when he met you, he said you “make it cool to be educated.” How do you go about that?

Millings: We’re authentically ourselves, so there’s a natural relatability because people see themselves in us. When people talk about finance they try to make it a language that is upspoken to the masses. Our mission was to democratize it, to make it seem like something that can be very relatable and digestible. We show up the way we are, we wear sweatshirts, we wear hoodies. We represent everybody. It doesn’t feel like it’s only for the elite or it’s only for a select crowd.

It’s the same thing in the classroom: A student has to realize this is someone I can learn from and who I want to teach me. Our audience kind of feels that way when they look at us. We’re also very vocal that we’re learning as well. We don’t know everything, and we bring people on [the show] who can educate us.

‘Having money doesn’t alleviate the problems’

For your podcasts, you’ve interviewed several famous and wealthy people — pro athletes, musicians and entertainers, for example. Are there certain things about finance that seem just as confusing for the rich and famous as for the average person?

Bilal: Yeah, I think a lot of people don’t have a full understanding of finance. It doesn’t matter how much money you make. That’s a common misconception.

Having money doesn’t alleviate the problems, it just makes the problems even worse. Understanding money or having a good understanding of money isn’t something that’s correlated with how much money you have.

Financial literacy is something I think gets metastasized on the highest level. Those are the same issues that everybody else has, it’s just everybody else doesn’t have the opportunity to lose $30 million or invest $20 million into a bad investment and then it goes belly up. If given the opportunity they probably would, it’s just they don’t have it. It’s a bigger microscope on celebrities because they’re public figures.

Is that because wealthy people and celebrities have a capacity to overspend more than the average person?

Bilal: I think it’s not so much just a spending situation. That’s a common misconception also, that they go broke because they spend money lavishly. That’s one part of it. But another major part is they’re actually trying to do the right thing, they’re just misinformed.

You see a lot of people make bad decisions when it comes to investing. They’ll invest in things that might be Ponzi schemes, bad real estate deals, they’ll be led down a bad path when it comes to financial advisors or people they trust. They think they’re doing something productive with their money but they actually are losing money because the investments aren’t fully vetted, they don’t fully understand what they’re investing in.

So I think it’s a little more complicated than just spending habits. It all comes back to not having a basic level of understanding and education when it comes to money.

It seems there’s some relatability there for everyday people.

Bilal: For sure. Look at crypto, for example. If you look at [the cryptocurrency] dogecoin, a lot of people made misinformed decisions. They thought they were doing something productive. They didn’t go into it with the intention of losing money. In their brain it was like, ‘This is an opportunity to turn $5,000 into $20,000.’ And they potentially lost all of their money.

It’s the same thing [with celebrities]. It’s just played out on bigger levels.

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Harnessing innovation in robotic-assisted surgery


For nearly three decades, Intuitive has been developing innovative approaches in the field of minimally-invasive care. We are guided by the belief that minimally-invasive care can be life changing, that patient outcomes can be profoundly improved and that enhanced clinical outcomes can sustainably lower the total cost of comprehensive care.

Our focus is on helping customers in Europe and around the world achieve better outcomes, better surgeon and care team experiences, better patient experiences and lower cost of care. Positive impact in these areas requires a holistic effort that includes not only leading-edge, integrated systems and software, but also an ecosystem of education and support that extends across the patient care pathway and the broader health care system.

What is robotic-assisted surgery?

27 years ago, Intuitive launched the da Vinci robotic-assisted surgical system, transforming the field of minimally-invasive surgery.

Robotic-assisted surgery is a form of minimally-invasive surgery performed by a surgeon using a computer-assisted system to operate through small incisions using tiny, wristed instruments. Robotic-assisted surgical systems do not perform surgery on their own and they do not replace surgeons. Surgeons completely control da Vinci robotic-assisted surgical systems, while seated at an ergonomic console that uses high-definition, 3D vision to magnify the patient’s anatomy. The surgical system translates the surgeon’s hand movements in real time to bend and rotate the instruments with greater flexibility, precision and range of motion than the human hand. This approach can augment a surgeon’s skills and capabilities while allowing them to continue to apply their judgment and experience.

To date, more than 12 million da Vinci robotic-assisted surgical procedures have been performed worldwide — including more than 1.2 million in Europe — across a range of procedures including urology, gynecology, colorectal, thoracic, general surgery and more.

Robotic-assisted surgery is a form of minimally-invasive surgery performed by a surgeon using a computer-assisted system to operate through small incisions using tiny, wristed instruments.

A growing body of research, including more than 34,000 peer-reviewed studies, suggests that minimally-invasive, robotic-assisted surgery can offer patients benefits in many cases, depending on the procedure, including one or more of these benefits: less blood loss, fewer complications, shorter hospital stays, and less chance of hospital readmission.[i]

The added value of robotic-assisted surgery for European health care systems

Since the first robotic-assisted da Vinci prostatectomy was performed in Germany nearly 20 years ago, more than 1,500 da Vinci systems have been installed in Europe, highlighting Europe’s strong demand for this innovative technology. But, while Europe has helped drive this technology forward, more can be done to help hospitals in Europe become world leaders in the 21st century.

Similar to health care systems around the world, Europe faces challenges including rising health care costs, a pressured workforce, aging populations and increasing burdens of disease. At the same time, patients across Europe are seeking equitable access to innovative, high-quality care.

Using our more than two decades of experience working with hospitals and health care systems across Europe, we strive to offer solutions to these multifaceted challenges that are aligned with our customers’ clinical and economic capabilities and goals. A key insight from our experience is that we must provide more than a “robotic-assisted surgical system”; we must be a “technology-enabled solutions partner and provider”. Robotic-assisted surgery as a modality can help drive better patient outcomes; robotic-assisted surgical programs as a key part of a hospital’s care pathway can help optimize the cost and efficiency and advance the delivery and quality of care.

As one example, we collaborate with hospitals to examine opportunities to sustainably increase throughput and introduce efficiencies that can allow them to treat more patients and reduce patient backlogs. Solutions that our customers have enacted as a result of these engagements include improving operating room set up time, scheduling optimization, standardizing pre-operative planning for care teams, and starting surgical days earlier. 

In all cases, we work to assure that any effort is seamlessly integrated into the workflows of our hospital customers and their broader patient care pathways, and that our success is defined and measured in alignment with their goals.

Training

Central to our holistic approach is our technology training, which is essential to maximize patient safety and a vital part of any successful robotic-assisted surgery program. Our four-phase training pathway combines skills and technology training with opportunities for health care professionals around the world to learn from their peers. Our robust training offerings include a combination of simulation, virtual learning, in-person observation and hands-on training, with high-quality tissue models and peer-to-peer mentoring, proctoring and advanced learning opportunities. The training tools and technologies we offer are informed by our unique understanding of best practices and can help users build their skills by targeting individualized areas for improvement.

We believe that our robust training programs are contributing to the development of the next-generation health care workforce.

Last year, we became the largest provider of robotic-assisted surgical technology training to have our full global training portfolio accredited by The Royal College of Surgeons. And, our industry-leading offerings are more available than ever across both virtual and in-person opportunities; we now have more than 25 training centers and partnerships across Europe.

Looking forward, we believe that our robust training programs are contributing to the development of the next-generation health care workforce and motivating existing surgical staff to stay within our health care systems. We will continue to evolve and innovate our training offerings by listening to and learning from surgeons and teams to identify the practices that lead to better results and hone our efforts to offer meaningful interoperative guidance.

Total cost to treat

While there is an upfront investment in robotic-assisted technology, the experience of hospitals across Europe shows that da Vinci systems can help realize a return on this investment. The benefits of minimally-invasive care — fewer complications and readmissions, less blood loss, less pain — help to avoid higher ‘downstream’ costs and resource use associated with traditional, or “open” surgery, which typically requires longer hospital stays and presents a greater risk of post-operative complications.[ii] Robotic-assisted approaches, like the da Vinci system, can therefore help to reduce the costs and resources associated with a complete patient journey, or ‘episode of care’.

An important indicator of the economic value of this cost avoidance can be found in hospitals’ investment decisions in recent years. Based on their own medical records, financial data, and unique reimbursement and cost structures, hospitals are increasingly choosing to commit to robotic-assisted technology. Our own data shows that the number of hospital Integrated Delivery Networks, or IDN’s, with more than seven da Vinci systems has increased by more than 150 percent in the past five years.[iii] We believe this demonstrates a trend from cautious adoption to standardization based on recognized value. This trend brings the benefits of minimally-invasive care to an increasingly larger number of users, helping to accelerate and compound the potential savings to the health care system over time.

A vision for 2030: a future of European health care excellence

The next European Commission term will almost reach the end of this decade, serving as a useful marker for us to imagine where Europe could be in health care delivery by 2030.

Looking ahead, it will be essential that policymakers create an environment where advancements in robotic-assisted tools and technology, digital health and patient-focused innovation can be seamlessly integrated in a way that prioritizes patient safety and facilitates equitable access to and adoption of innovative technology.

The infrastructure and tools needed for future success are already present. Europe can lead the way in creating this environment, in part by avoiding policies which inhibit this kind of integration and innovation through duplicative or conflicting regulatory structures. We look forward to contributing to an ambitious agenda to bring cutting-edge health care, training, and innovations to European patients and health care professionals.

This material may contain estimates and forecasts from which actual results may differ.


[i] Bhama, A. R., et al. (2016). “Comparison of Risk Factors for Unplanned Conversion from Laparoscopic and Robotic to Open Colorectal Surgery Using the Michigan Surgical Quality Collaborative (MSQC) Database.” Journal of Gastrointestinal Surgery: 1-8

Oh, D. S., et al. (2017). “Robotic-Assisted, Video-Assisted Thoracoscopic and Open Lobectomy: Propensity-Matched Analysis of Recent Premier Data.” Annals of Thoracic Surgery 104(5): 1733-1740.

Ran, L., et al. (2014). “Comparison of robotic surgery with laparoscopy and laparotomy for treatment of endometrial cancer: a meta-analysis.” PLoS ONE 9(9): e108361.

Speicher, P. J., et al. (2014). “Robotic Low Anterior Resection for Rectal Cancer: A National Perspective on Short-term Oncologic Outcomes.” Annals of Surgery.

Tam, M. S., et al. (2015). “A population-based study comparing laparoscopic and robotic outcomes in colorectal surgery.” Surgical Endoscopy and Other Interventional Techniques.

Pilecki, M., et al. (2014). „National Multi-Institutional Comparison of 30-Day Postoperative Complication and Readmission Rates Between Open Retropubic Radical Prostatectomy and Robot-Assisted Laparoscopic Prostatectomy Using NSQIP (National Surgical Quality Improvement Program)“ Journal of Endourology, 430 – 436.

Tewari A, et al. “Positive Surgical Margin and Perioperative Complication Rates of Primary Surgical Treatments for Prostate Cancer: A Systematic Review and Meta-Analysis Comparing Retropubic, Laparoscopic, and Robotic Prostatectomy,” Eur Urol. 2012 Feb 24.7.

Carbonell, A. M., et al. (2017). “Reducing Length of Stay Using a Robotic-Assisted Approach for Retromuscular Ventral Hernia Repair: A Comparative Analysis from the Americas Hernia Society Quality Collaborative,” Annals of Thoracic Surgery.

Lim, P. C., et al. (2016). “Multicenter analysis comparing robotic, open, laparoscopic, and vaginal hysterectomies performed by high-volume surgeons for benign indications,” International Journal of Gynecology and Obstetrics.

O’Neill, Michelle, et al. “Robot-assisted hysterectomy compared to open and laparoscopic approaches: systematic review and meta-analysis,” Archives of gynecology and obstetrics 287.5 (2013): 907-918.

Geppert B, Lönnerfors C, Persson J. “Robot-assisted laparoscopic hysterectomy in obese and morbidly obese women: surgical technique and comparison with open surgery.”  Acta Obstet Gynecol Scand. 90.11 (2011): 1210-1217. doi: 10.1111/j.1600-0412.2011.01253.x. Epub.

[ii] Id.

[iii] Intuitive internal data measuring from year end 2017 to year end 2022.



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If we care about our future, we should know what we teach our children

The opinions expressed in this article are those of the author and do not represent in any way the editorial position of Euronews.

No matter where in the world, educational curricula must be rigorously researched to prevent the real-world consequences of prejudice and discrimination being disseminated, which if left unchecked, corrode the foundations of progress, Lord Simon Isaacs writes.

In the field of public health, it isn’t difficult to recall instances where flawed research has had far-reaching consequences, from misguided claims discouraging the COVID-19 vaccination to debunked theories linking the MMR vaccine to autism. These and other examples have been well documented.

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However, societal well-being is dependent not only on public health. The impact of educational curricula and the very textbooks that children study not only shape millions of impressionable minds but are key to the way society will look in decades to come. 

So, when these veritable foundations of education are flawed, they should be treated with a similar sense of alarm.

An obvious case in point is recently published textbooks in Russia, which justify the invasion of ‘ultranationalist’ Ukraine and depict occupied lands as part of Russia. 

Clearly, the Kremlin has calculated that inculcating young people today will help bolster its expansionist goals into the future.

Meanwhile, there is evidence that differing perceptions of the European Union within textbooks are closely aligned with individual national narratives on the issue. 

A comparative academic study of English and German textbooks revealed that the English curriculum portrays the EU primarily as a controversial issue, whereas German textbooks reflect a more positive approach.

Problematic textbooks and an analysis gone awry

Clearly in any country, publishing textbooks can make a deep imprint on societal norms. 

As such, textbook production must be carefully monitored and all the more so when it is being funded by European taxpayers. 

A prime example is the textbooks published by the Palestinian Authority (PA), which are replete with hateful portrayals of Jews and encourage violence against Israel — acts of terror such as the 1972 Munich Massacre are endorsed and even scientific theory is taught through the prism of shootings and attacks on Israelis. 

Given that the EU constitutes the PA’s single largest funder, it is no wonder that Brussels has taken a keen interest in the issue.

That is why from 2019 to 2021, the EU commissioned the Georg Eckert Institute (GEI), a German centre for international textbook analysis (named after a former Nazi who volunteered for Hitler’s Brownshirts and defected in 1944 to join the Greek resistance), to “provide the EU with a critical, comprehensive and objective foundation for political dialogue with the Palestinian Authority (PA) on the subject of education”. 

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Unfortunately, there was nothing “critical” about the report by the institute, which totalled about 170 pages of analysis on 156 Palestinian textbooks and 16 teaching guides published between 2017 and 2019.

When research is flawed, decision-making is impacted

On closer inspection, mainstream media, public figures, and organisations exposed alarming shortcomings in GEI’s work. 

Instances of antisemitism and incitement to violence were overlooked and the institute’s director of the study, Dr Riem Spielhaus, even admitted to German media that in some cases the wrong textbooks were analysed altogether. 

One glaring error showcased an Israeli textbook in Arabic promoting peace and tolerance, which Georg Eckert Institute mistakenly identified as a Palestinian textbook.

GEI’s director, Eckhardt Fuchs, finally admitted in testimony in the European Parliament that the PA textbooks did not meet UNESCO standards, and the report’s FAQ section published after its publication confirmed that “the textbooks contain anti-Semitic narratives and glorification of violence”. 

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However, the institute has still not admitted its mistakes or taken responsibility for its flawed work.

Whether GEI’s report is evidence of rank incompetence or a worrying bias, the failure to conduct research with accuracy and integrity has a serious impact. 

After all, the debate over PA incitement and the poisoning of millions of young minds via its education system, is a live and important discussion in the European Parliament, the UK Parliament and other key international decision-making bodies. 

More often than not, views expressed in these forums and ultimately the decisions made by national and international leaders are reliant on quality, accurate research.

Preventing corroding effects of prejudice and discrimination

The stark reality of PA incitement via its textbooks and GEI’s subsequent failure to properly analyse the issue, alongside Russia’s exploitation of curricula for political purposes, should provide a wake-up call. 

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After all, in every country whether in a conflict zone or not, education plays a crucial role in perpetuating national narratives and fostering societal norms. 

No matter where in the world, educational curricula must be rigorously researched to prevent the real-world consequences of prejudice and discrimination being disseminated, which if left unchecked, corrode the foundations of progress.

If we are to build better societies, we need more analysis and greater awareness of the importance played by textbooks studied by millions of children. 

Just as public health research has been subjected to endless scrutiny, the same maxim must now be applied to analysing the curricula which will frame the attitudes and values of the next generation.

The Most Hon. Marquess of Reading Lord Simon Isaacs is the Chairman of the Barnabas Foundation.

At Euronews, we believe all views matter. Contact us at [email protected] to send pitches or submissions and be part of the conversation.

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More and students are choosing to learn Arabic. Here’s why

In today’s globalised world, proficiency in multiple languages is highly valued in fields such as diplomacy, national security, education, medicine, business and more, Julia Sylla writes.

As the new school year is approaching, talking about the reasons and motivations of students for learning languages feels more important than ever.

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The recently released Language Trends Survey shows declines in language course enrolments across the UK and declining numbers of students taking the GCSE and A levels in modern foreign languages.

However, the number of students choosing to learn Arabic continues to climb, despite the slow growth of Arabic program offerings in schools. Why is that?

We should be opening doors to understanding

In the UK, as well as in the rest of Europe and the US, students are increasingly excited about learning Arabic, whether as a first/native/heritage language or as a modern global language.

This excitement stems from various motivations: Studying Arabic, along with Mandarin and other less-commonly-taught languages, is attractive to students who know that languages open doors to understanding the people and cultures of those who speak them.

Some students may be fascinated with literature or linguistic structures. Personal growth and self-confidence are also common factors; learning a language requires dedication and perseverance.

Finally, students may learn Arabic to unlock academic or professional opportunities that Arabic language skills provide.

“The more you learn, the more fun it gets,” Imara, a student of Arabic from Washington State in the US told QFI once, “and I think that’s especially true with Arabic. It connects you to such a beautiful culture.”

It’s not just the heritage speakers — on the contrary

Arabic-as-a-first-language speakers in Europe and the UK can sometimes learn it at school, as with mother tongue policies such as in Sweden. Others learn Arabic in weekend or afterschool programs for family or heritage reasons.

Learning Arabic formally in school-based programs allows them to celebrate and preserve their connection to their cultural heritage.

Formal language education also enables them to earn credentials by passing national school exams (GCSE/A levels/Baccalaureate, Abitur, etc.), external language certifications, or by continuing their studies at the higher education level. With these credentials and degrees, students can use their language skills in professional settings.

Students who learned Arabic as a first language aren’t the only ones drawn to Arabic language education, however.

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In fact, the majority of students studying Arabic in QFI-supported public secondary schools in the US have no heritage ties to Arabic.

Of the students who achieved external certifications for English-Arabic biliteracy from QFI-supported schools, one-third have no heritage ties to Arabic. 75% of those students listed English as their first language. What then draws them to the language?

It’s a whole new world out there

Learning a new alphabet or script may incentivise students who love the artistry of the language.

Reading important canonical literature in Arabic is as attainable to students as reading Voltaire is for students of French, Cervantes for students of Spanish, and Shakespeare for students of English. Arabic draws students with a love of literature in its original forms.

Studying Arabic creates opportunities to travel, explore, and build friendships with students and communities worldwide.

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Students interested in antiquities and archaeology might visit Egypt or Jordan, or the multilingual and multicultural Northern Africa region of the Maghreb. Students drawn to business and commerce can find new opportunities in the Gulf.

In today’s globalised world, proficiency in multiple languages is highly valued in fields such as diplomacy, national security, education, medicine, business and more.

Studying Arabic unlocks these and other fields, giving students a competitive edge; Arabic skills demonstrate to potential employers that students value diversity and global perspectives, and they aren’t afraid of a challenge.

“Arabic has been absolutely vital and life-changing for me because of the experiences I’ve had that have helped lead me to where I am,” Sage, a radio reporter and journalist in Alaska, US, told QFI. Sage attributes her current career path back to her Arabic studies in school and at university.

Less-commonly-taught languages open up unique opportunities

Students also see opportunities to break down cultural and linguistic barriers within their own communities.

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Arabic is a living language in many communities throughout Europe and the UK. Learning a language signals an openness to learning about something that may not be familiar, and it enables the exploration of new cultures.

Parents want their children to learn languages, too. They want to raise globally-minded citizens who can adapt and thrive in diverse settings, and they understand that speaking languages can lead to advanced language programs, scholarships, prestigious universities, and career opportunities.

Furthermore, parents want their children to appreciate and respect diversity; learning foreign languages is one of the means to achieving that.

As with any language, learning Arabic offers students practical benefits, a sense of fulfilment, and a deeper appreciation for rich and diverse cultures.

Students who studied Arabic shared with us that the language helped them broaden their horizons, provided unique opportunities, and enriched their personal and professional lives.

Across Europe, the US, and the UK, students are enthusiastic about studying Arabic, whether as a native language or as a modern global language.

Rather than putting languages in competition with each other for enrolment, schools can look to less-commonly-taught languages as an opportunity to build student interest in languages as an exciting, innovative and cutting-edge subject.

Julia Sylla is the Director of Programs at QFI, a Washington DC-based organisation committed to advancing the value of teaching and learning Arabic as a global language.

At Euronews, we believe all views matter. Contact us at [email protected] to send pitches or submissions and be part of the conversation.

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We need to learn that if it’s online, it doesn’t have to be true

By Yoan Blanc, Co-director, C’est vrai ça?

Investing in education and the development of critical thinking is more important than ever, as it will help to limit the risks of disinformation posed by the advent of technologies such as the internet and AI, Yoan Blanc writes.

In its new report on education and technology, published on 26 July 2023, UNESCO’s Global Education Monitoring Report discusses the risks and opportunities that new technologies hold for the future of education. 

The report points out that only around half of 15-year-olds in OECD countries are able to tell facts from opinions. 

With the advent of artificial intelligence (AI), more than ever, educators play a vital role in teaching the critical thinking and autonomy needed to navigate new technologies.

As we have observed in recent years, disinformation campaigns and conspiracy theories have gained ground. 

While it is worrying to see the often-morbid impact of fake news, we also need to consider how susceptible people are to these theories, and the lack of education about technology, which leads some people to think that “if it’s on the Internet, it must be true”.

Pre-existing issues, a smouldering fire that just needed oxygen

A pre-existing situation has made it easier for people to buy into the idea. 

Disinformation campaigns haven’t enjoyed the success they have based solely on a particular set of circumstances. 

The COVID-19 crisis merely acted as a catalyst, stoking a fire that had been smouldering for quite some time due to a number of factors that slowly came to light.

As the latest RSF report shows, freedom of the press is under threat in many countries, including those that were once regarded as democratic. 

Public confidence in the press has rarely been so low, and the work of journalists is often denigrated, even though they are the foundation of a healthy democratic system. 

The media has become polarised in recent years, favouring ideology and punchlines over in-depth debates on social issues.

The lack of digital literacy and critical thinking

It’s hard to properly account for the surge in fake news. The general public has very little understanding of how social media work and sometimes takes falsely sourced or openly conspiracy-themed publications at face value. 

Acquiring easily implemented methodological tools would undoubtedly help to avoid these pitfalls.

The main reason fake news goes viral is a lack of critical thinking. Part of the population doesn’t know how to think critically and doesn’t analyse the information they are given.

Social media is the favourite channel for spreading conspiracy theories and disinformation. 

It allows for swift and massive dissemination thanks to its sharing functions and algorithms that highlight the sort of “divisive” content that generates reactions (the more intense the emotion, the more viral the information). 

There is also the question of social media moderation, which is at best inadequate, at worst non-existent, and essentially based on user reports, with the impending risk of a “militia” effect. 

The reports they make are processed by people who often don’t speak French, leading to bizarre situations where overtly racist content can be allowed to remain online. 

Worse still, as content deletion is sometimes based on the number of reports received, journalists’ or fact-checkers’ accounts or publications are regularly deleted or suspended as a result of massive reporting campaigns.

How can we fix this?

Citizens’ initiatives that complement the work of the press need to take shape to counter fake news on social media. 

Because while disinformation’s main weapon is virality, it is still possible to mitigate the viral impact of a publication by reacting quickly to provide simple, accessible, and well-sourced explanations.

C’est vrai, ça?, for instance, has over twenty volunteers working on a citizens’ initiative to check LinkedIn posts. 

With an average of 10 fact-checking operations a day and 70,000 followers, they help prevent the spread of fake news or at least encourage critical thinking by providing sourced commentary.

This is where education comes in

To stem the tide of disinformation upstream, there is a solution that is both simple on paper and yet terribly difficult to implement in practice: education.

Training teachers to work with and use new technologies so that they can pass on critical thinking methods to their pupils, whether it be social media or content-generating artificial intelligence tools accessible to the general public (ChatGPT, Midjourney, etc.). 

Here too, partnerships could be devised between schools and community associations to train students in the use of new technologies, to encourage them to question what they consult and to use the tools at their disposal to reflect rather than just consume. 

The Internet and artificial intelligence are formidable instruments, providing access to information that was previously unavailable. 

But like any other tool, they need to be properly mastered. Access to knowledge and education has always been a means of empowering people. 

Whereas in the past, the challenge for the public was to gain access to the knowledge needed to contradict dogma, today, the challenge is to sort through the mass of information. 

We have to invest in knowledge to solve this once and for all

Learning the basic techniques of OSINT (Open-Source Intelligence) — how to detect texts or images generated by artificial intelligence or how to analyse a source of information — are all skills that are accessible from a very young age and help protect the human mind against manipulation.

Investing in education and the development of critical thinking is more important than ever, as it will help to limit the risks of disinformation posed by the advent of technologies such as the internet and AI.

To achieve this, we need genuine political commitment and enlightened governance to analyse the risks and work together to develop effective standards that protect us all from fake news.

Yoan Blanc is the co-director of C’est vrai ça?, an independent civic initiative that brings together private citizens who want to fight back against fake news.

At Euronews, we believe all views matter. Contact us at [email protected] to send pitches or submissions and be part of the conversation.

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‘I’m 62 and ready for my golden years’: I’ve $1.7 million in annuities, Roths and index funds. Can I afford to never work again?

I’m going to preface this by saying that I know I am in a great long-term position. It’s the short term that is of concern.

I am 62, single with no dependents. I own my smallish home outright and it’s worth $1 million due to the location. I own my car outright and I have no debt. My IRA and small Roth accounts have about $350,000 with an additional $840,000 in two guaranteed-income deferred annuities rolled over from a couple old 401(k)s in 2020. There’s $520,000 in my regular brokerage accounts (mostly Vanguard Index funds). I have $42,000 invested in two eReits and $10,000 in Series I Bonds. I have $71,000 in a higher-yield savings account and $12,000 in a checking account.

I had always planned to retire at 65 and live off my savings until filing for SSI between 67 and 70 (approx $3,400 to $4,100, depending on when I file). A year ago at 61, I abruptly quit a good-paying new job due to a bad work environment, and a week later, my elderly parent had a serious medical issue. I decided to take time off to help navigate care, and just be present — without all of the stress of a pretty demanding job. A year after quitting, I figured out that I have no desire to go back to what I was doing and, quite frankly, have to desire to work at all! 

‘I’m not afraid of running out of money long term. It’s the next 5 to 7 years that are really causing me heartache.’

So here (finally) is my concern. My expenses are at least $3,000 per month give or take. Given what I have in savings and no plans to file for Social Security Insurance for at least five years, what do I continue to live on, especially if I don’t go back to work? I most likely have some house expenses (new roof, garage door, etc.) in the near future, plus, I want to travel sooner than later so $71,000 won’t last that long especially with this inflation. Do I sell off some of my mutual fund shares to boost my savings? 

At some point (most likely in the next two years) there may be about $75,000 of inheritance, but I’m not factoring that into the equation for now. I think I’ve done almost everything right, and I’m ready for my golden years. I’m not afraid of running out of money long term. It’s the next five to seven years that are really causing me heartache. What are your thoughts?

Short-term Angst

Dear Angst,

Life is short, but we all hope for a long retirement, and it’s easy to lose sight of what’s important when we are “nose-down” in the rat race. We only have one life, and most of us, if we’re lucky, have two parents and/or sometimes one good parent. If we are blessed with one or both, it’s a gift if we can afford to take that time with them, especially if they have pressing medical issues. Thankfully, you had planned ahead, and you were able to do just that.

Many people reevaluated their relationship to work in recent years. You did so because you became a caretaker. The most fortunate among American workers were allowed to work from home from 2020, and where their work was the umbrella that protected their financial life and gave them the funds to live their life, by the end of the pandemic, that umbrella became their life which gave them the ability to work. It’s a profound change.

I’m going to take a wild guess here — well, not so wild — and say that a lot of people are reading your letter with their mouths agape, with not a small amount of envy. Some may see a touch of humble bragging to your financial achievements, but you acknowledge that you are in a healthy financial position, and have endeavored to do everything right. That, I’m sure, involved sacrifices along the way. So bravo to you. From a gratitude point of view, your financial list is a good one.

There are a couple of wrinkles, which may be useful for others to be aware of. Robert Seltzer, founder of Seltzer Business Management in Los Angeles, said he would not recommend a client to roll their 401(k)s into annuities due to their higher fees and lack of flexibility. Without working, your only taxable income would be derived from retirement account distributions and investment income — but if your taxable income is less than $41,675, therefore, you would pay no capital gains tax. 

Is it a good time to liquidate some stocks? You’ve played the long game. The S&P 500
SPX,
-0.29%

is up 2.7% over the past year; many people close to retirement have been spooked by stock-market volatility since 2020, but the S&P has increased more than 30% since the last trading session of 2019 — before the pandemic. Assuming you’ve been investing for the past three decades or more, and have experienced the miracle of compounding over that time, the time to enjoy your life is nigh. 

‘Assuming you’ve been investing for the past three decades or more, and have experienced the miracle of compounding over that time, the time to enjoy your life is nigh. ‘


— The Moneyist

Something to consider as you age: “As you transition from the accumulation stage of life to the distribution stage, it is important to recognize that your risk tolerance is changing,” says Mel Casey, a senior portfolio manager at FBB Capital Partners. “If the brokerage account index funds are all in stock funds, this should be addressed. A rebalancing over time to reduce stocks and increase bonds may lower the risk and prepare the account for eventual distributions.”

Meet with a financial adviser and work out your short- and long-term needs: what your income looks like before and after you tap your Social Security benefits. The good news is you have a healthy income awaiting you when you finally start drawing down money from your retirement accounts. It helps enormously that you have paid off your home — property taxes, insurance, food prices, car payments, gas, health insurance, etc. notwithstanding.

About that health insurance. No doubt you are already aware that this will be an extra expense before you qualify for Medicare at age 65. The average annual health-insurance premium for 2022 was $7,911 for single coverage, up slightly from $7,739 in the prior year, according to KFF, formerly known as the Kaiser Family Foundation, a nonprofit headquartered in San Francisco, Calif. (You can read more about signing up for Medicare and what it will cost here.)

Casey also has thoughts on healthcare costs as you get older. “You have three years until you can apply for Medicare and that will be an important time in terms of choosing the appropriate path,” he says. “In the meantime, some form of health insurance is advisable, if only to eliminate the ‘tail risk’ of a serious injury or illness which could erode this healthy savings very quickly.”

Withdrawing money for retirement

You could cover a substantial part of your expenses from your brokerage account and Roths ($870,000) or annuities ($840,000). While you have done a great job in growing long-term assets, there are relatively few liquid, short-term assets (emergency reserves), says Randall Watsek, financial adviser with Raymond James. “For someone in retirement without earned income to draw on for living expenses, having at least five years of reserves might greatly lower their stress level,” he adds.

Ideally, you want to take Social Security between 67 and 70. “From an average life expectancy basis, it works out roughly the same, whether you take Social Security at 62 or 70,” Watsek says. “You get more small payments if you take it earlier, or fewer large payments if you take it later. It makes most sense to delay Social Security if you have a family history of living into your 90s or 100s or if you’re still working.”

But if your parents have a history of living a long life, and you currently have good health, Seltzer said he would be open for more discussion about what age you should start claiming Social Security, and he would explore whether you are comfortable waiting until you reach 67 or 70 years of age. (This would warrant further discussion with your own financial adviser, and you can reevaluate your position every 12 months.)

As my colleague Alessandra Malito points out, help comes in many forms: financial consultant, wealth manager and investment adviser. Choose a fiduciary who is required to act in your best interests (rather than giving you advice with one eye on your needs and another eye on their commissions). In order to become a certified financial planner or CFP, you must complete a certificate or degree program, 6,000 hours of related experience and have passed an exam. 

“Broker-dealers are advisers who primarily sell securities and often charge commissions on their recommendations. Commissions aren’t inherently bad, but clients should understand what they’re being charged for and feel comfortable with those fees before proceeding with the advice,” Malito writes. Certified public accountants, chartered life underwriters, certified employee benefit specialists respectively deal with accounting, life insurance and benefits.

“The rule of thumb for taking distributions during retirement is 4%,” Seltzer added. “If you took a very conservative distribution rate of 3%, it would amount to $52,500 which is almost 50% higher than your expenses of $36,000. So, by living off of a mix of savings, distributions from the annuities and capital gains from your brokerage account, you should meet his cash-flow needs with paying very little tax.”

You’re doing just fine. Your $75,000 inheritance will also give you some freedom for the next year or two, and help you get over the finish line. If you travel, think about Airbnb-ing
ABNB,
+1.69%

your home, which would cover your accommodation costs. It may also encourage you to try living in a place for a month or more. As a cardiologist might tell a patient when they’re putting them on medication for the first time, “Start low, go slow.” Take your time. Don’t make any big decisions.

As one member of the Facebook
META,
-0.50%

Moneyist Group said, “If you’re a man please marry me!” I’ll leave that with you with God’s and your fiduciary’s blessings.

“Assuming you’ve been investing for the last three decades or more, and have experienced the miracle of compounding over that time, the time to enjoy your life is nigh.”


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More from Quentin Fottrell: 

‘He’s content living paycheck to paycheck’: My husband won’t work or get a driver’s license. Now things have gotten even worse.

My wife wants us to spend $5,000 to attend her cousin’s destination wedding. I don’t want to go. Am I being selfish?

‘I feel used’: My partner stays with me 5 nights a week, even though he owns his own home. Should he pay for utilities and food? 



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Florida Schools Now Protecting Kids From Smut Like Sexy, Sexy ‘Paradise Lost’

In exactly the sort of development you’d expect in the midst of a moral panic and censorship campaign, we learn this week that one Florida school district isn’t limiting itself to removing modern-day smut like sex ed or books about gay penguins. The Orlando Sentinel reports that, thanks to a new state law that requires the removal of any school materials for review as soon as someone files a complaint, books like A Room With A View, Madame Bovary, and even John Milton’s 1667 biblical fanfiction epic Paradise Lost have been pulled from Orange County Public Schools, at least until media specialists can check to make sure they’re not porn. Hell, even Ayn Rand has been censored, instead of allowing high schoolers to find out for themselves what a terrible writer and human she was.

The story notes that several works that have regularly been used in classes are on the rejected list, like The Color Purple,Catch-22,Brave New World, and The Kite Runner. Naturally, the district has also removed both The Bluest Eye and Beloved by Toni Morrison, who can’t seem to help herself terrifying white parents with books that are entirely too much about Black women how dare she.

Previously

Virginia Mom Begs Voters Not To Let Toni Morrison Kill More White Children With Words

100 Year Old Lady At Florida School Board Better Patriot Than All Book Banners Put Together

Ask The Gay Penguins How ‘Limited’ Florida’s ‘Don’t Say Gay’ Law Is. YOU CAN’T THEY’RE BANNED

The district hasn’t yet finalized its lists of what books will be permanently banned or restricted to certain grade levels, and which will be allowed back into classrooms; the district’s “media specialists” are spending the whole summer reviewing every single book in classroom libraries to make sure children aren’t corrupted by mentions of sex, gay people, or Black people who don’t smile obligingly enough, we assume.


The Sentinel explains,

Some books rejected earlier this summer, among them “The Scarlet Letter” and Shakespeare’s “A Midsummer Night’s Dream,” have since been approved, according to the lists shared with the Orlando Sentinel by a district teacher and by an advocacy group that obtained a rejection list through a public records request. Other books have been approved but only for certain grades.

Four plays by William Shakespeare, including “A Midsummer Night’s Dream,” are currently listed as approved for grades 10 through 12 only, as is Truman Capote’s “In Cold Blood” and Tennessee Williams’ “A Streetcar Named Desire,” the lists show.

Fans of The Simpsons will recall that Streetcar! is a musical spectacular featuring the sexy, muscular Ned Flanders and the cheery closing number, “You Can Always Depend on the Kindness of Strangers (A Stranger’s Just a Friend you Haven’t Met).”

Many books are being rejected — temporarily or permanently — because for some reason there’s mention of sex, which Great Literature never mentions but smut like Othello does. The explanation listed for many titles on the rejected list is simply “Depicts or describes sexual conduct (not allowed per HB 1069-2023,” which Gov. Ron DeSantis recently signed as part of his presidential campaign. Pretty cruel to have a censorship law with 69 in it, if you ask us.

The new law makes book challenges easier and, if the concern is sexual content, requires the books to be removed from the shelves within five days and remain inaccessible to students while being reviewed. Republican lawmakers said they passed it to make sure pornography and books that depict sexual activity are kept from children.

Mind you, there’s really not any porn in schools, and the law includes an apparently useless clause noting that even works with nudity or boinking can only be considered pornographic if they lack “serious literary, artistic, political, or scientific value.” Of course, once there’s a complaint, that has to be determined by the school media specialists.

The Sentinel spoke to a teacher who said, “The last thing I would have expected to be rejected is Milton,” what with Paradise Lost being a “cornerstone of Western Literature” and all that. Yr Wonkette hasn’t looked at it since comparative lit in grad school (Dante and Chaucer are way more fun), but yeah, there are indeed sex scenes in Paradise Lost, including Adam and Eve Doing It before the Fall (and unmarried at that, because there’s no sin in the Garden) and after. Hope you’re ready for some hot fuck action:

Handed they went; and eased the putting off
Those troublesome disguises which we wear,
Straight side by side were laid; nor turned, I ween,
Adam from his fair spouse, nor Eve the rites
Mysterious of connubial love refused

They was NAKED. Then after the Fall they screw again, only lustfully. Yeah, yeah, we know, you’ll be in your bower.

The ninth grade teacher said he believes the new laws imply that “I have horrible intentions for my students,” when he simply wants to get kids excited about reading and understanding literature, and isn’t that always the excuse they give when they’re peddling smut like Kurt Vonnegut and Alice Walker and Edgar Allen Poe?

“We are in this because we really care about the stuff that we teach and really care about the content we get to introduce our students to,” he said.

If the rejected list doesn’t change, he said, he will have to remove novels like “The Handmaid’s Tale” and “Friday Night Lights: A Town, a Team and a Dream” from his classroom bookshelves as they are rejected for all grades, as well as “Crime and Punishment” and “In Cold Blood,” which are now rejected for 9th grade, which he teaches.

Yeah, that Dostoevsky, what a creep. Another teacher said she was “gobsmacked” to see A Midsummer Night’s Dream rejected, even temporarily, and was downright angry at the rejection of works she had used in advanced placement classes, like Ralph Ellison’s Invisible Man and John Irving’s A Prayer for Owen Meany, which like virtually all the books mentioned here has yet to be adapted into a porno.

She selects novels “to engage my students, to offer them literature that makes them think,” and some books meant to describe “the adolescent experience” contain sexual content. But they are not pornographic or inappropriate and it upset her to see them on the rejected list.

“It’s just so frustrating and disheartening,” she said.

You know, it’s almost as if writers think sex is an important aspect of human life and motivation, an essential part of literature, even. That’s what kids have to be protected from, for sure. Fahrenheit 451 had it right: Books just make people unhappy, so best we get rid of them.

[Orlando Sentinel / Image generated using DreamStudio AI and Photoshop]

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