THERE IS A LITTLE-NOTICED CHALLENGE IS CONFRONTING BLACK AMERICANS. WHAT IS IT? Most of us have seen the ads on television with Tom Selleck or others pitching reverse mortgages. They have been a fixture on television since the financial crisis, and they often promise a no-hassle way for seniors to take advantage of the equity […]
We are covering the benefits of a college degree this morning. Why is this on your mind? We often talk about the costs associated with college. Tuition prices have risen steeply in recent decades and student loans burdens now accompany millions of Americans after their studies. These concerns have led many to ask whether the […]
MANY OF OUR LISTENERS ARE CURIOUS ABOUT DIGITAL BANKING VERSUS TRADITIONAL BANKS. WHAT SHOULD THEY KNOW? First, let’s talk about how we got here. Until the 1990s, banking had not changed much over the previous five decades. With the advent of the internet, banks began to offer services online. Eventually, some banks emerged without any […]
Why is it now so important to talk about retirement planning for workers without an employer-sponsored plan? Only about half of all Americans have access to plans available through their job, according to a 2018 report from the Stanford Center on Longevity. The other half are freelancers or workers with multiple jobs or part-time jobs […]
PRESIDENT TRUMP AGAIN INCREASED TARIFFS ON CHINESE GOODS LAST WEEK. CAN YOU GIVE US A SNAPSHOT OF WHAT HAPPENED? As you know, the US and China have been engaged in an escalating trade battle since last year. In September, the U.S. imposed 10% tariffs on $200 billion worth of goods imported from China, with tariffs […]
WHAT DID WE LEARN LAST WEEK THAT’S A POSITIVE ON THE ECONOMIC FRONT? According to the Commerce Department, the U.S.gross domestic product rose at a 3.2 percent annual rate in the first three months of the year. This is an impressive number, considering many economists and analysts have been concerned about the possibility of a […]
TODAY WE ARE TALKING ABOUT GRADUATES OF HISTORICALLY BLACK COLLEGES AND UNIVERSITIES, AND STUDENT LOAN DEBT. WHAT IS THE LATEST? A recent article in The Wall Street Journal caught my eye. In it, the authors note that while historically Black colleges and universities have helped millions of Black students achieve financial prosperity, they may now […]
What’s the good news in the stock market? I am happy to join Money Monday this morning with good news, and that is not an April Fool’s joke. On Friday, the US markets closed out a great quarter. The S&P 500 rose 0.7% to 2834.4, closing out the quarter up 13% for the quarter, its […]
HOW CAN PARENTS’ GENEROSITY TOWARD THEIR CHILDREN CAN HURT THEIR RETIREMENT? There was a great article in Barron’s this past week that highlighted the many ways parents can put their retirement at risk by prioritizing their children financially. In a 2018 Bank of America Merrill Lynch and Age Wave survey, nearly 3 in 4 of […]
Earlier this month, the New York Times highlighted a study published in the Journal of Consumer Research that shines further light on a problem many couples face: how to distribute responsibility for finances. The study’s author discovered that when couples divide money management unequally, the person taking a less active role is putting themselves at […]
WHAT’S THE NEWS ON MINIMUM WAGE? Put simply, we are seeing progress around the country when it comes to raising the minimum wage. Since 2016, five states and the District of Columbia have raised their wage floor to $15 per hour. My home state of Illinois was the latest state to get on the bandwagon, […]
You are here this morning to discuss why some states and cities are fighting the move away from cash. What’s the story? In recent years we have seen a rapid shift away from cash, both in the U.S. and around the world. Fewer people are using paper money, and the number of retailers cutting out […]