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Generation Next of Financial Illiteracy

Generation Next of Financial Illiteracy

Recently I wrote about the general lack of financial literacy and how foolish that gap is in a world where employers and government have turned over the responsibility for safety nets and retirement savings to individuals. Millennials should take note: the younger you are, the greater the chance that less and less will be done on your behalf by government and employers for your financial future.
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More About MyRA

More About MyRA

In his State of the Union Address this past January, President Obama announced the creation of MyRA, a new program to help workers save for their own retirement. MyRA is designed as a starter plan. After an initial deposit of $25, contributions as small as $5 can be made by payroll deduction. And even though the contribution is deducted from paychecks, it is not an employer-sponsored plan.
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Setting a Goal for Financial Literacy

Setting a Goal for Financial Literacy

You probably don’t know anyone who has taken a course to become more financially literate. It’s not a required part of regular school curriculum at any level and, because it’s not a recognized goal like a diploma or credential, financial education is essentially ignored. It shouldn’t be. In many ways it’s as important as driver’s education.
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One for the Books

One for the Books

AOL.com has run a story broken by Associated Press about a Santa Barbara-based financial advisor who cobbled together the world’s most valuable life insurance policy for an anonymous Silicon Valley billionaire. With a payout of more than $200 million, it slightly more than doubles the $100 million policy sold to David Geffen in 1990. It’s tempting to speculate why a billionaire would take such an action. After all, if he’s worth so much money, why does he need life insurance?
Filed in: Life Insurance, Other
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Keeping Up with the Sharing Economy

Keeping Up with the Sharing Economy

In an economy where many of the traditional engines are moving forward at a marginal pace, one bright spot is the peer-to-peer platforms such as accommodations and ride-sharing Airbnb, Uber, Lyft and Sidecar. The hitch: government regulations on taxis and auto rentals have not kept up with the emerging businesses. According to an article in the New York Times by Arun Sundararajan, a professor at the Stern School of Business at New York University, this is too bad, “because the emerging peer-to-peer, collaborative ‘sharing economy’ will be a significant segment of the country’s future economic activity.”
Filed in: Innovation
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