Speaking at a Fed town hall meeting with educators, Chairman Ben Bernanke said kids today will have it better than their parents. But they’ll also need to be financially astute, and Bernanke said every student should be exposed …
Financial Education
Social Security Now Takes More Than it Gives
Social Security has reached another critical threshold: For the first time, a typical husband and wife retiring today can expect to collect less in benefits than it paid in payroll tax over the course of their life.
Are ‘Safe Accounts’ the Answer to Our Consumer Banking Problems?
So-called Safe Accounts offer extremely low fees and no overdraft penalties. Banks are still experimenting but the early results have been encouraging and a product geared at the unbanked may just right for many others too.
Why Kids Will Feel the Pinch on Back-to-School Duds
If any good came of the recession it was that individuals refocused their values and that families started discussing debt and what they could and could not truly afford. Psychologists predict it’s just a matter of time before …
Back to School: Top Five Things That Stress College Students
Fitting in? Finding a date? That’s nothing. College students are more stressed than ever, and money issues have emerged as the top culprit.
Lifetime Income Stream Key to Retirement Happiness
A new study in a land of grumps reveals that retirees with a guaranteed lifetime income stream can find true happiness.
Making Personal Finance Cool to Kids
Financial education has garnered new attention in the post-recession world. Now schools, non-profits and financial institutions are partnering to find ways to make personal finance cool to kids, all the way from kindergarten to …
401(k) Loan Defaults Soar, Stirring Call for Insurance
Billions of dollars are leaking out of 401(k) plans as workers lose their jobs and cannot repay loans from their plans. This has stirred some to call for insurance policies that would restore 401(k) money lost through loans that …
Millionaires Can Afford to Play It Safe — For The Rest of Us, It’s A Risky Strategy
Domestic stocks are the No. 1 place that millionaires have been putting their money in the past year, according to a Fidelity survey, which runs directly counter to the behavior of the average investor.
The “Action Gap”: Why Workers Refuse to Save More for Retirement
New research uncovers a vexing problem: The typical worker can readily find an additional 5% to 10% in their budget to put away for retirement. But they don’t do it because they are unsure what moves to make.
Proof That Workplace Financial Education Works
One-on-one financial counseling at the office leads to higher savings rates and other wise money choices, a new study shows. Other research in this area is conflicting. But employers are embracing the benefit.
Financial Planning 101 For Older College Students
Back-to-school season is around the corner, and it’s not just for kids anymore. A growing number of older Americans are enrolling in college today, and their numbers are expected to increase further through the end of the decade. …
