Have you checked out your Spotify Wrapped? How about the same for your finances?
Have you checked out your year-end Spotify Wrapped? How about doing the same for your budget?
Our Thoughts & Insight - Behavioral Finance
Unhappy with your 403(b) and want to move? It may cost you because annuities force you to surrender.
About 76% of assets in 403(b) plans are in annuity-based products. Almost all of those annuities contain surrender charges. So, before investing in one of these annuities it pays to understand how these charges work and what it means for you.
You think the defense of the Detroit Lions is bad? Most people’s personal defense is even worse.
According to the Life Insurance and Market Research Association, only 57% of American adults currently have life insurance! That is down two percentage points from 2018 and a full six points from five years ago. Of those who have life insurance, 32% only own group coverage through their employer or some sort of work. LIMRA estimates that group coverage usually leaves a coverage gap of an average of $225,000.
Thankfully the Tigers season is over. But it was a good reminder of recency bias.
Postseason baseball is upon us, but not here in Detroit. However, back in April some fans and pundits thought it was a distinct possibility. Cue, recency bias. A flaw seen in both many fanatical diehards and financial decisions.
Tsk, Tsk, Tsk… why we all need Behavioral Financial Advice
Why a BFA? You may notice at the end of our business cards a three-letter designation, BFA. While we greatly appreciate jazz and modernist painters in our office, it certainly does not refer to a ‘bachelor of fine arts.’ Instead, it refers to the fact that our...