Parents have been paying their kids an allowance since the Industrial Revolution on the theory that it will help kids better understand budgets and spending choices as adults. Now a prominent academic says it’s all been a waste of time
Financial Education
Finally, A Convenient Way to Get Income for Life: Feds Push A New 401(k) Option
With traditional pensions disappearing, securing reliable low-cost lifetime income for retirees has emerged as a top issue among financial planners and policymakers. Finally, a solution is in sight. The federal government has issued new regulations designed to encourage two important changes:
- Allow 401(k) plan participants to easily
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Pension Income Is Guaranteed, Right? Yes, But …
As if we needed another reminder that our safety net is threadbare, AMR Corp., the American Airlines parent company, says it will shut down pensions covering 130,000 employees and retirees as part of a reorganization in …
Personnel Finance: Productivity Down, Employers Target Debt Stress
Financial education advocates point to three primary places to reach those who need help with their money: in schools, the point of sale, and at work. A debate rages over the first two. But efforts to educate employees at the …
Are Young People Too Afraid of Debt?
Following the Great Recession many young people have become not merely respectful of debt, as we would wish; but fearful of it, which could set them back.
How Obama Plans to Stop Big College Tuition Hikes
President Obama said in his state of the union speech that it’s time to cut federal aid to any college that does not keep tuition increases in check. The hope is that they will then find ways to cut costs and make college more …
Give Romney a Break! His Charitable Giving Offsets His Low Tax Rate
Mitt Romney may not be paying as much federal income tax as you’d like. But his charitable giving is extraordinary. Add the two together—taxes and voluntary giving—and you get something close to an overall rate that many …
The Lessons of Mitt Romney’s IRA
Mitt Romney may have made the classic IRA mistake: holding low-tax investments inside a tax-favored account. His IRA strategy isn’t clear, of course. Romney continues to guard his personal finances. But details are trickling …
Zappos Breach a Teachable Moment for Shoe-Loving Kids
The Zappos breach showed us that passwords may be the weakest link to protecting your online information. It’s a teachable moment. Here’s how to talk to the kids.
8 Celebrity-Endorsed Financial Products We Wouldn’t Buy
Athletes, actors and other famous folks lend their recognizable faces to promote all sorts of products, from breakfast cereal to basketball sneakers to prepaid debit cards (see Suze Orman). But a celebrity endorsement is, of …
Why a Business Major is No Longer the Ticket
The Great Recession has dramatically changed the way we value a college education. First came the argument that a college degree isn’t worth the cost. Now we’re bashing the venerable business degree.
Money Milestones: What Kids Should Know About Money and When
President Obama and his top financial advisers in November were handed a blueprint for what kids at certain ages should be expected to know about money. The document is still a work in progress. But it’s far enough along to …