At the end of each month, we provide a list of finance-related articles to help keep you informed about the hot topics in finance. Here are some of the best articles we read in the month of October.
The Biggest Money Mistakes We Make – Decade by Decade (Wall Street Journal)
Understand the most common financial mistakes we make at each life stage, and take the appropriate steps to avoid them.
What do financial markets think of the 2016 election? (Justin Wolfers and Eric Zitzewitz)
Interesting analysis on how the financial markets have reacted to election news.
Investment Management vs Financial Advice (A Wealth of Common Sense)
“A large majority of what the financial industry calls financial advice is really just glorified product sales.” Teach yourself how to understand the difference with these useful considerations.
Thrown For a Loss (CBS News)
60 minutes tackled the story about a group of NFL players who lost over $43 million at the hands of their league-approved financial advisor.
Merrill Lynch to End Commission-Based Options for Retirement Savers – (Wall Street Journal)
Expect to see a lot more of this between now and the DoL rule going into effect on April 20th.
The Dying Business of Picking Stocks (Wall Street Journal)
“Over the decade ended June 30, between 71% and 93% of active U.S. stock mutual funds, depending on the type, have either closed or underperformed the index funds they are trying to beat, according to Morningstar.”
How Your Money Habits Compare to Other People in Their 20s and 30s – (The Washington Post)
See how you stack up against your peers in this study conducted by Navient and Ipsos.
American Funds Files for New Share Class to Cut Fund Expense Ratios (Investment News)
Another byproduct of the DoL Fiduciary Rule. Popular investment company, American Funds, to trim expenses by about .37% on new F3 shares.
Janet Yellen Says Labor and Inflation Complicate Fed’s Plans to Raise Rates (NY Times)
Low interest rates will continue for at least another quarter, as the Fed tries to make sense of the “behavior of the labor market and the weakness of inflation”.
Wells Fargo got busted for opening over 2 million unauthorized accounts for its customers. Here is an account from former employees about the “toxic” sales culture within the world’s largest bank. (NPR) — 2 weeks ago, I wrote about the scandal and how incentives influence behavior. Check it out here.
Please share any interesting articles you’ve come across recently and we may add them to next month’s post!
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