Category Archives: Financial Literacy

Financial Friday Round-Up: September 20 – September 24, 2021

Welcome to the latest Financial Friday Round-Up, our weekly column filled with the best things for you to read, watch or listen to regarding finance around the web. Below you will find a podcast on women and work, an article on the importance of mentoring, news about mortgage qualifications, and more.

Two Indicators: Women and Work

Despite making progress towards equality for women in the workplace, some statistics still nag at experts who work to raise the status of women in business — like how fewer companies are run by women than men. This podcast episode from Planet Money highlights two reporters who are breaking down the biggest obstacles for equality.

Paying Your Rent on Time Can Now Help You Qualify for a Mortgage

Some lenders are introducing a new tool that may help renters qualify for a mortgage. By monitoring which renters pay on time, this change in the industry could help more people with slim credit histories or low scores buy homes. Check out this report from Money for more information.

The Importance Of Mentorship And Why Starting Early Is Key

Worth released an article this week on the impact of mentoring young women early and the importance of investing in younger generations. This inspiring piece collects quotes from girls who had mentors through the pandemic and the positive impact they had on them.

These 2 Emotional Biases Could Kill Your Retirement

Our money habits are always tied up in our emotions, and planning for retirement is no exception. This Kiplinger guide outlines the emotional attitudes to avoid when saving for retirement, such as overconfidence and following the herd. Check out this piece for further detail.

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Financial Friday Round-Up: September 13 - September 17, 2021
Financial Friday Round-Up: August 30 - September 3, 2021
Financial Friday Round-Up: August 23 – August 27, 2021

Financial Friday Round-Up: September 6 – September 10, 2021

Welcome to the latest Financial Friday Round-Up, our weekly column filled with the best things for you to read, watch or listen to regarding finance around the web. Below you will find advice from a retail entrepreneur, an article on teaching kids about finance, and more.

Generation Owe: Here's the Average Debt at Every Age

Money released this article this week on how much money each generation owes in debt. Reporting from a new Experian study, the piece finds that Gen X holds more debt than the older baby boomers or the younger Millennials. Read the full piece for more insight on debt and demographics.

5 Tips From A Retail Entrepreneur Who Grew An 8-Figure Business

Forbes interviewed successful retail entrepreneur Ebony Swank on the five steps she took to build an eight-figure business. Read this for solid advice on how to play up your creativity, learn from your mistakes and manage your cash effectively.

Money Doesn’t Grow On Trees: How To Teach Kids About Finance

Financial education is an important step to bringing people financial security and peace of mind, and the sooner we teach financial concepts, the more likely that information sticks. Worth wrote up a useful guide to having financial conversations as early as possible — read more for the bigger picture.

Financial Fixes to Make after the Pandemic

The pandemic changed saving and investing habits for most people. As the nature of the pandemic changes and more people resume their pre-lockdown lifestyles, is it possible to keep those habits with all the expenses that come with leaving the house? The answer is yes, and Kiplinger has a great guide on the subject.

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Financial Friday Round-Up: August 30 - September 3, 2021
Financial Friday Round-Up: August 23 – August 27, 2021
Financial Friday Round-Up: August 16 – August 20, 2021

Financial Friday Round-Up: August 30 – September 3, 2021

Welcome to the latest Financial Friday Round-Up, our weekly column filled with the best things for you to read, watch or listen to regarding finance around the web. Below you will find a report on starter homes, the latest installment of Planet Money’s Summer School, a guide to spending in retirement, and more.

More Starter Homes Are Finally Hitting the Market

It has been quite the hot market for real estate this year, but according to data reported in Money this week, August was the second month in a row that listings for starter homes grew. This is good news for anyone who has been missing affordability as the demand for real estate rose — check out this article for more information.

Spend Without Worry in Retirement

This week, Kiplinger published a piece on how to pursue your retirement dreams without worrying about running out of money. With advice on annuities, the 4% Rule and more, this piece could offer great advice to everyone looking to make the best of retirement.

Planet Money Summer School 6: Crypto & Commencement

Planet Money’s Summer School podcast episodes have been a great ongoing series educating listeners in the more confusing parts of the financial world. The latest and final episode tackles cryptocurrency by outlining what potential investors should keep in mind about this new form of currency. Check out this episode and the rest of the series for lots of information in bite-sized packages.

Walmart Gives Raises to More Than 565,000 Store Workers

Big news from one of the world’s largest retailers comes as Walmart states it will increase its minimum wage to $12 an hour for hundreds of thousands of workers. Check out this article in The Wall Street Journal for more information.

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Financial Friday Round-Up: August 23 - August 27, 2021
Financial Friday Round-Up: August 16 – August 20, 2021
Financial Friday Round-Up: August 2 – August 6, 2021

Financial Friday Round-Up: August 23 – August 27, 2021

Welcome to the latest Financial Friday Round-Up, our weekly column filled with the best things for you to read, watch or listen to regarding finance around the web. Below you will find an article on the importance of customer service, a podcast about investing bubbles, productivity tips, and more.

Survival Of The Nicest: Customer Service As A Business Growth (And Survival) Engine

Customer service is one of the most important aspects of business growth in our interconnected world, and this article from Forbes outlines the reasons why. For tips on how to improve your customer service, check out this piece.

What I Learned About Productivity By Writing About Productivity

After six months of reporting on productivity during this unique time in the history of work, Bloomberg’s Arianne Cohen shares five essential tips for staying productive. From humble enthusiasm to procrastinating wisely, these interesting tips are sure to stick with you for the next time you have a pressing deadline.

Planet Money Summer School 5: Bubbles, Bikes, & Biases

The latest episode of Planet Money’s Summer School series is about what an investing bubble is. This short episode teaches you how bubbles form, how to spot a bubble and how to avoid getting caught up in one. Check out this episode for this valuable information.

Where Are the Borrowers?

The latest issue of the DealBook Newsletter from the New York Times is about how banks, in the absence of borrowers, have gone on a bond-buying spree. Find out about this recent market quirk in this informative piece.

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Financial Friday Round-Up: August 16 – August 20, 2021
Financial Friday Round-Up: August 2 – August 6, 2021
Financial Friday Round-Up: July 19 – July 23, 2021

Consider the 15/50 Rule for Retirement Planning

Setting up a happy retirement means finding the right investment strategy so you never run out of money during your golden years. Studies show you will need 80% of your pre-retirement income to live on each year in retirement, but knowing the exact number of years that will be has become harder to gauge as our lifespans continue to lengthen.

Many retirement investments rest in funds that set a likely retirement age and automatically get more conservative as that year approaches to make sure there is no last-minute loss. The Own Your Age in Bonds rule, perhaps the most popular retirement investing strategy, does just that: it says that the percentage of bonds you invest in should equal your age, while the rest should be invested in stocks.

This older rule protects against stock market volatility — start out investing aggressively in stocks so the years can drown out any dips in the market. Then, as you reach 55, your portfolio reaches 55% in bonds, often seen as the safer investment, and so on until you retire.

One potential problem with the Own Your Age in Bonds strategy comes when investing in too many bonds leaves you with too few returns. If you miss your target date, you run the risk of outliving your retirement. In answer to growing lifespans, a new strategy has emerged: the 15/50 rule.

"Studies show you will need 80% of your pre-retirement income to live on each year in retirement."

The 15/50 Rule

15/50 was defined by Benjamin Graham, author of The Intelligent Investor, and has been championed by Wes Moss. The rule is simple: if you believe you have more than 15 years left to live, you should own at least have 50% stocks, with the remaining balance in bonds and cash.

The strategy balances risk and reward while giving you a diversified portfolio, leading to growth without falling short. Stocks hedge against inflation while the bonds keep your investments stable. This alternative to the Own Your Age in Bonds Rule is a durable strategy that allows you to rethink your time horizon and make sure you don’t run out of money.

"The 15/50 rule is a durable strategy that allows you to rethink your time horizon and make sure you don’t run out of money in retirement."

There are many vehicles to avoid outliving retirement — annuities, IULs, and the 15/50 rule are just a few. You should always talk to a financial advisor before changing your retirement strategy, but the 15/50 is one to consider bringing up to a professional expert. While this is not meant to substitute professional investment guidance, the knowledge of a new model could help you consider possibilities that accommodate a longer life. The goal is never to run out of money in retirement — as long as you have that security, you will have peace of mind.

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Financial Friday Round-Up: August 16 – August 20, 2021

Welcome to the latest Financial Friday Round-Up, our weekly column filled with the best things for you to read, watch or listen to regarding finance around the web. Below you will find articles on the rising cost of owning a car, the entrepreneur’s path, an educational podcast, and more.

It Now Costs Nearly $10,000 a Year to Own a New Car

Owning a car costs a lot more than what is on the price tag when you factor in maintenance, insurance, registration and fuel. This article from Money reports that those costs are now at an all-time high — check out this piece to find out why.

Every Entrepreneur Comes To This Fork In The Road—Here’s How To Decide Your Path

Business owners spend their first year or so focusing on survival, but there comes a point in an entrepreneur’s career when they must make the decision to lead a small business or grow as big of an enterprise as they possibly can. This piece from Forbes outlines that decision and offers guidance for those who face it.

Planet Money Summer School 4: Bonds & Becky With The Good Yield

Planet Money has been putting out a series of educational podcasts called Summer School which cover aspects of financial education often missed in schools. This edition covers the basics of the bond market — listen for the chance to potentially learn something new.

Paying With a Credit Card? That’s Going to Cost You.

This week, The Wall Street Journal reported on a growing trend: more and more small businesses are charging a fee for credit card purchases and offering perks for paying with debit. Read this piece to find out why.

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Financial Friday Round-Up: August 2 – August 6, 2021
Financial Friday Round-Up: July 19 – July 23, 2021

Financial Friday Round-Up: August 2 – August 6, 2021

Welcome to the latest Financial Friday Round-Up, our weekly column filled with the best things for you to read, watch or listen to regarding finance around the web. Below you will find advice on how to stay afloat in retirement, becoming a resilient leader, improving credit scores, and more.

3 Strategies to Avoid Running Out of Money in Retirement

Financially sustainable retirements must now last for 30 years or more, causing a large shift in how we view retirement planning. Check out this Kiplinger list for three ways to make sure your money lasts through your golden years.

Leading Beyond Crisis: 7 Commandments Of Transformational Resilient Leadership

Leading through any time can be challenging. Leading a team through a time of crisis is even more difficult. But there is also a third type of leadership that takes adversity and uses it as an opportunity for transformation and growth. To find out more, check out this piece from Worth.

Planet Money Summer School 3: Smooth Spending & The 401K

Planet Money has been putting out a series of educational podcasts called Summer School which cover aspects of financial education often missed in schools. This edition covers the basics of smooth spending and the 401(k) as a tool for retirement. Listen to this podcast for the chance to potentially learn something new.

7 Steps to Improve Your Credit Score Right Now

Whether you need a refresher on the basics or you have someone in your life who is entering a new stage in life and could use an education on credit, this primer from Money this week is a clear-cut guide to improving any credit score.

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Financial Friday Round-Up: August 2 - August 6, 2021
Financial Friday Round-Up: July 19 - July 23, 2021
Financial Friday Round-Up: June 21 - June 25, 2021