Yesterday kicked off the first of the Democratic debates. How many are seeking the nomination? Might be better to ask who isn’t. Lots of folks on that stage last night. Anyway...a major plank in the platform is student loan forgiveness. Presumed frontrunners Elizabeth Warren and Bernie Sanders are pledging to forgive 75% and 100% respectively. [...]
No need to be honest. Just tell people what they want to hear. Automating tasks saved financial advisors at Merrill Lynch work… More advisors are also choosing to use the model portfolios created by the firm's central investment office. Andy Sieg - President of Merrill Lynch Wealth Management All that marketing capital spent lying to [...]
Nice article from Barry Ritholtz about the importance of a basic financial education, why we're so bad at providing it and what can be done to improve the situation.
Fantastic Josh Brown blog post. Read. Enjoy. Learn.
Fiscally liberal politicians are furiously trying to pound out the dents in their reputations. Their unified complaint in the post-Trump tax reform world has been that budgets in traditionally Democratic states (i.e. blue states) would be sunk. Data shows just the opposite. Earlier this month California Governor Gavin Newsom introduced a revised $213 billion budget [...]
Who likes a visit to the doctor’s office? Exactly. In a recent survey conducted by The Harris Poll Americans likened financial planning to a medical exam. Adults aged 18+ were asked how they feel about financial planning. The #1 answer was “not my favorite thing in the world but know it needs to get done [...]
Monday marked the 24th time since the March 2009 low that the S&P 500 corrected by 5% or more. Each time many people proverbially lost their collective minds. The lack of perspective is amazing. Since the 2009 low of 666 on the S&P we’ve experienced a 400%+ recovery. A 5% pullback is enough to [...]
Recession. Few of us can define/explain it yet so many of us fear it like the mythical bogeyman. (Note: A recession is not an evil hobgoblin with special powers who will carry off our children.) Just what is a recession? Economists define it as two consecutive quarters of negative economic growth. In plain language it’s [...]
It’s a wonderfully perfect inverse relationship. The world is getting better yet we feel it’s getting worse. Need proof? The world is getting better: We think it’s getting worse: Young people are even better at thinking things are getting worse: What’s the deal? In the past societies have made [...]
Live in a high-tax blue state? Annoyed by the SALT deduction cap of $10,000? Quit whining. You were one of the biggest winners of the Trump tax cuts. An early analysis of data shows taxpayers in high-tax states (e.g. California, New York) were some of the biggest beneficiaries. The majority of taxpayers received a tax [...]