Lackluster Financial Education Standards in U.S. High Schools

How did you learn to balance a checkbook or invest in your 401k? Did you have a formal education on the subject? Did you seek a professional? Or did you just figure it out? The type of financial education you receive as a U.S. high school student depends largely on what state you are in. We have requirements ranging from personal finance as a mandate - for all students - to states that don’t include it in their education standards. Teachers today are pushed to their limits. As a result, increasing access to personal finance education is not a top priority. It is expected that parents pick up where the schools leave off. However, many parents are ill-equipped to continue their children's financial education. They may lack confidence in their knowledge, or it may not seem critical to teach them at all. Many are unable to teach their children because their...

Read More

Not All Banks are Created Equal

Let’s face it; consumers are growing tired of low interest rates on their checking and savings accounts. Bankrate.com recently estimated the national average annual percentage yield (APY) on money market accounts to be .11%. That’s just over one-tenth of one percent! Millennials might not realize that banks paid rates in the double digits in the 1980’s. Baby boomers are often left feeling nostalgic for the good ol’ days of high returns for low risk savings. Consumers who Google “high interest rates savings accounts” are inundated with a listing of banks they’ve probably never heard of before. Who are these banks and how do you know you can trust them? Today, banks yielding the highest rates are often online banks – with no brick or mortar buildings or ATMs. These banks often provide streamlined electronic tools like web chat and responsive phone service centers to make up for their lack of physical locations near...

Read More

Investors Get Lost Searching for Pokemon Returns

Pokemon Go has been downloaded by millions in the U.S. and every day the number of users continues to rise as it is released across the globe. For those that don’t know, the hit app sends you on a quest for “Pokemon” in your neighborhood, down streets you always knew existed but never had a reason to walk down, searching for elusive fictional creatures.  The app has been criticized for distracting its users and potentially putting them in harm’s way, but it has also been praised as revolutionary and innovative, bringing gaming to a new level of reality. The excitement and lure of the game were almost as hard to ignore as what happened to Nintendo’s stock price since the game’s release. The struggling tech company saw an unprecedented increase that hit a 52 week high on Monday July 18th; shares more than doubled to $38.25 from a 52 week low...

Read More