Imagine a person who always, in every circumstance, makes rational decisions with his money. He saves when he ought to and spends exactly as he should spend, in order to maximize the “utility” of whatever wealth he happens to possess. He defers gratification with ease. When he invests, he has instant and total access to […]
The urge to splurge is one of the toughest challenges to a monthly budget, and leads to unhappy encounters with the credit card statement. But psychologists say there are solutions for the chronic overspender.
The first thing to understand is that overspending is viewed as a way to boost our self-esteem or overcome sadness—and if you […]
You may have read that hackers broke into the Equifax database and stole personal information tied to 143 million people. Equifax is one of the four nationwide credit-reporting agencies that track and rate the financial history of U.S. consumers. Three of the agencies (Equifax, Experian, and Transunion) are the “major” players. A fourth firm, Innovis, […]
Inflation has been pretty benign over the last 20 years, right? The U.S. Consumer Price Index has ranged from negative 0.4% in 2009 to a high of 3.8% in the awful 2008 economic year. In 13 of those 20 years, the CPI was below 2.5%, which is hardly comparable to the double-digit inflation […]
Your financial plan is about your goals and finances. But is it also about your health?
In a recent blog post on the Forbes.com website, financial planner and medical professional Carolyn McClanahan suggests that your health status may be a crucial input into your overall financial plan.
Why? Because it helps you know how long your […]
Companies tend to reward loyalty in their employees. Right?
A recent article on the Forbes website uses simple math to suggest that loyal employees who stay employed at the same company for over two years at a time might be earning 50% less over 10 years, compared with less-dedicated workers who seek opportunity elsewhere.
The reasons […]
It’s a catch-22: You feel that you should focus on paying down debt, but you also want to save for retirement. It may be comforting to know you’re not alone.
According to an Employee Benefit Research Institute survey, 18% of today’s workers describe their debt level as a major problem, while 41% say it’s a minor […]
Each time you connect to the Internet, you risk becoming the victim of a cybercrime. It’s the price we pay for living in a digital world — whether it’s at home, at work, or on your smartphone.
According to the Identity Theft Resource Institute, the number of U.S. data breaches in 2016 increased by 40%. And […]
Should today’s 70-year-old American be considered “old?” How do you define that term these days? Statistically, your average 70-year-old has just a 2% chance of dying within a year. The estimated upper limits of average life expectancy is now 97, and a rapidly growing number of 70-year-olds will live past age 100.
Perhaps more importantly, today’s […]
Probably the most forgotten minority in America is the “elder orphans”—aging retirees who no longer have a spouse (if they ever had one), no kids and no caregiver.
According to The Gerontologist magazine, about one-third of 45 to 63-year-olds are single, and most of them never married or are divorced. Meanwhile, about 15% […]