Our Thoughts & Insight - Behavioral Finance
Have you checked out your year-end Spotify Wrapped? How about doing the same for your budget?
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.
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.
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.