Archive for December 2016

HR People, Credit Counselors, and Bankruptcy Attorneys – Am I Correct about Emergency 401(k) Withdrawals?

One of my (many) favorite quotes is, “Learn from the mistakes of others. You can’t live long enough to make them all yourself.” [1] . Over the decades I’ve certainly made my share of mistakes!  But during five years as a community college personal finance instructor, and as counselor with several thousand in-person sessions under…

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Can Financial Education Provide a Net Value?

Last edited 12/22/2016 Ideally, we would help people develop an economic understanding sometime before they get their first credit card, and before they take on education debt, or a mortgage, or car loan or lease. Some studies have shown that numeracy skills developed early in life positively impact later financial behaviors, and I suspect that…

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Where to Turn?

Celebrities are often hired to promote financial products.  I’ve seen TV ads for two reverse mortgage lenders that featured celebrities who I recognized, and one of them was an actor who I really like.  But just four days ago the Consumer Financial Protection Bureau (CFPB) took action against both companies (along with a third) for…

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