What I'm Reading This Weekend (August 11-12)
- Banks and credit unions are talking about providing financial education as a competitive “weapon.” Is this good or bad?
- Buying a car? Here is a quick video reminder of warning signs indicating you should walk away.
Parenting, Teens, and College
- Parents, especially mothers, are teaching their kids about money.
- Is the tide turning? Here are two studies/articles that suggest perhaps they are. One from Current suggests that teens save for goals, and according to National Society of High School Scholars 2018 Career Interest Survey, Gen Z is saving sooner than previous generations.
- The kids are getting ready to go off to college. This one is for the parents of those kids. Parents--let them go!!!
- Financial stress is about more than covering tuition. Course materials are up there too. These survey results have been reposted on social media
Economics and Investing
- Wondering when the good economic news might turn in the other directions? This NY Times article looks at what may trigger the next recession.
- A good companion to the NY Times piece is this blog from the Irrelevant Investor showing market trends over time….great for you quants out there.
- Is the stock market really shrinking? Again, the NY Times has an answer for you.
- We’ve heard it repeatedly, and this Wisconsin College listened: Stick to index funds!!! Many of you likely saw this article in a social media feed this week about how their endowment killed it with this investment strategy.
Older Americans and Retirement
- Increasingly, the burden for funding retirement has shifted to the individual from employers and the government. I find it concerning that older Americans are filing for bankruptcy more often than ever.
“The rate of people 65 and older filing for bankruptcy is three times what it was in 1991…”
- This may be happening because they don’t really understand the numbers and.can't pass a financial literacy test. or because they underestimate what they need. Not surprisingly, healthcare tops the list!
- If you like your job, maybe you shouldn’t ever retire?
- Do you want to see your bank balance when you go to FB messenger? CNBC talking heads discuss Facebook’s financials and future in this video.
- Beware of connecting your phone to a rental car via Bluetooth! I caught this tidbit in the local (Cleveland) money advisor column on Sunday.
Chart of the Week
About the Author
Beth Tallman entered the working world armed with an M.B.A. in finance and thoroughly enjoyed her first career working in manufacturing and telecommunications, including a stint overseas. She took advantage of an involuntary separation to try teaching high school math, something she had always dreamed of doing. When fate stepped in once again, Beth jumped on the opportunity to combine her passion for numbers, money, and education to develop curriculum and teach personal finance at Oberlin College. Beth now spends her time writing on personal finance and financial education, conducting student workshops, and developing finance curricula and educational content. She is also the Treasurer of Ohio Jump$tart Coalition for Personal Financial Literacy.
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