savings
When it comes to retirement planning, it's important to take into account that women tend to have shorter work careers, earn less, live longer than men, and have less tolerance for risk, says Diane Garnick, CFA. Which is why it's essential to understand that "averages just aren't going to work."
“A penny saved is a penny earned” is a truth that is part of the fundamental basis of good financial management, yet many people fail to see the importance of developing good saving habits.
The allure of hedonistic lifestyles, of “wine, women and song” (“sur, sura, sundari” in Hindi), translates into almost every language. The Spanish say, “naipes, mujeres y vino, mal camino” or “cards, women,… READ MORE ›
In economic and financial matters, paternalism — protecting an individual from himself or herself — comes in many guises with one common theme: the maximization of welfare. Yet it raises a question with no easy answers: When exactly should individuals or investors be protected from making their own bad choices?
One of the challenges investment professionals face is figuring out effective ways of helping some clients become smarter about their decisions. This is key to offsetting what Nobel Laureate Robert C. Merton calls "financially dysfunctional behavior."