Yes, Financial Literacy Programs Do Work

Doing nothing about a problem seldom works. Financial literacy programs have been under attack for years. Many question their effectiveness. Some say they hurt more than help. The critics are wrong. In our hearts, we always believed this to be true. Having data as an ally reinforces our beliefs. Financial Education Affects Financial Knowledge And…

Everyday Is Like Monday…..When Is My Retirement?

Proper planning for retirement is like Novacaine. Just give it some time and it works. Start your process by reading this week’s terrific links. Three steps for more efficient tax planning in retirement. The Wall Street Journal Market crashes aren’t rare events. Morningstar The average 401(k) balance fell by 19% during the first quarter. CNBC…

Don’t Listen To Zero-Sum Financial Advice

There are two types of people in this world. Those believing in a zero-sum philosophy and those who don’t The difference between being a hero or a villain is easy to distinguish Heros believe in compassion, integrity, and faith. Villians choose scarcity, fear, and cynicism. Dictators fall into this category. Believing they can only flourish…

Will Lawsuits Become The Next Hot College Major?

Getting what we pay for is part of the American psyche. The Pandemic brings us to the college dorm elephant in the room. Will students receive a refund due to  Coronavirus shutdowns? College is a massively expensive undertaking. $1.5 trillion of student debt attests to this. Students shell out mega-bucks for room and board and…

Everyday Is Like Monday…..When Is My Retirement?

Famed investor Howard Marks stated, ” These days every one has the same data regarding the present and the same ignorance regarding the future.” We can’t predict the future but we can prepare for future possible outcomes. Start preparing for your retirement by reading this week’s terrific links. Employers need to help workers more in retirement…

(B)Ware Of 403(b) Loans

The CARES Act doesn’t care enough about teachers’ 403(b) plans. What else is new in a retirement space filled with more murder holes than Omaha Beach? The CARES Act makes it easier to access retirement funds using loans. Previously, workers could borrow the lesser of $50,000 or one half of their account value. The new…

It’s Time To Go All In On Financial Literacy

Our nation’s personal finance nightmare is destroying the American dream. The data backs up our woeful lack of knowledge and poor decision-making. We owe way too much money. The average household holds $137,879 of various forms of debt: $7,104 in credit cards $192, 618 in mortgages $29,934 in depreciating asset auto loans $46,679 in student…

Everyday Is Like Monday…..When Is My Retirement?

Eventually, there will be a vaccine for the pandemic. There aren’t a group of scientists working on creating your retirement plan. That’s up to you. Start by reading this week’s terrific links. Is the first person who will live to 150 alive today? Wall Street Journal Less than 50% of employers have adopted the new…

Happiness Is Only A Vacation Destination

Human beings possess extraordinary superpowers. The problem – we don’t know we possess them. Our psychological immune systems are extraordinary. Getting used to bad stuff is part of our DNA. Author Dan Gilbert completed extensive research on this subject. Bad feelings from negative events don’t turn out as rotten as our dire expectations. We overestimate…

How To Apply To College During A Pandemic

Applying to college is no cakewalk. The coronavirus and subsequent financial crisis further complicate things. High school seniors are seeing college dreams dissolving into their worst nightmares. Physically visiting schools is a no go. There are more questions than answers regarding college planning. Where’s tuition money going to come from if parents lose their jobs?…