Reflecting a lofty ambition to educate Delaware residents about financial management, state government officials put together some terrific videos.
This is not high-level finance – the speakers tell stories about real people facing up to the dimensional challenges of money and retirement. Viewers outside Delaware might find one of the 10 online Tedx talks valuable to them. Here are three:
Javier Torrijos, assistant director of construction, Delaware Department of Transportation: His take on the immigrant experience in a nutshell: “The parents’ sacrifice equals the children’s future,” said Torrijos, who has two sons and whose own father left Columbia for a tough neighborhood in Brooklyn, New York, in 1964 so his children would have a shot at escaping poverty. Today’s immigrants are no different. But the pervasive ethos of family above all else, he argues, is responsible for some of the Latino immigrant community’s financial instability.
When required to make the impossible choice between going to college or straight to work to support family, family usually wins. “That mentality still exists” but needs to change if Latinos are to improve their lot, he said. …Learn More
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Our goal is to provide reliable information that is not influenced by the desire to sell a product or service, which we hope is a valuable service to you. And as a blog based at the Center for Retirement Research, we are particularly interested in covering what the current research (ours and many others’) can tell us about retirement, personal finance and the economic challenges that people face.
What could be better than a big turkey in the oven and family and friends all around? Happy Thanksgiving to all.
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Around age 58, people start getting happier. That’s what the research shows, and this blogger can attest to it.
In the new video displayed below, Rocio Calvo, a Boston College professor of social work, offers up theories for the happiness phenomenon – financial security is one. She also has some particularly striking “happiness statistics” on Hispanics and immigrants.
All over Boston College, academics are studying aging issues, which complement the financial and economic research turned out by the Center for Retirement Research, which sponsors this blog. Calvo’s video is part of a series of videos by the multidisciplinary Institute on Aging at Boston College.
It’s interesting viewing for older people and their families, with apologies for the regression table (the significance of which quickly becomes clear if you stick with it).
Hilarious examples of “instant garbage” are offered up in this Portlandia clip by the show’s characters, Bryce Shivers and Lisa Eversman (played by Fred Armisen and Carrie Brownstein).
The price point for an unwanted consumer product that becomes instant garbage is $4.99. “We found the exact point between price and hassle that guarantees you won’t bother returning” the product, Eversman explains in the video below.
Is the following theory a stretch? There seems to be a direct line between Americans’ relentless buying of stuff we do not need and our inadequate attempts at saving money.
Try walking into a craft superstore or browsing Target’s $1 shelf and suddenly imagining the stuff all piled up at its ultimate destination, the local landfill.
Then walk back out and save the money for retirement.
Chris Vickery, director of cyber-risk research for UpGuard in California, warned NPR listeners recently about a situation in which another high-technology company allowed 198 million voters’ personal information to become publicly accessible online.
When our non-financial information gets loose on the Internet, it can cause financial damage: “If a bad guy has your phone number and can get your PIN, they can, at 3 in the morning, get a code sent to your phone, listen to your voicemails, log in to your bank account and drain all your money,” Vickery said. “Phone numbers are more important than people realize.”
Squared Away asked him to expand on what occurs when we freely hand over our personal data to retailers, financial institutions, and credit rating agencies, which then sell it to other companies or “data brokers” that buy and resell data.
Q. Is the dangerous situation you mentioned involving voters’ personal information still present, and has any financial fraud resulted from its release?
Vickery. I don’t know of any specific frauds that came out of that situation, but voter data in general – the more we make it available, the more fraud that is bound to come of it. It’s not a good idea.
Q. It has become routine to share our email address, as we’re required to do when we conduct business or buy things online. Is this a bad idea?
Vickery. Knowing that you use a particular email can be very useful to a bad guy. But the fact of the matter is there are a lot of people being careless with their emails. Getting mad at your best friend who gives your email address to an airline to share your arrival time might be a little unreasonable, but I don’t think it’s unreasonable to expect the companies to treat them more carefully than they have been. Companies that buy and sell your data create risks for you. For example, have you heard of the concept of a “data base of ruin”? That is the concept whereby a dataset is created – maybe not all in one place – a healthcare breach here, a supermarket breach there – and this is all being brought together in one form where a malicious actor can search anybody and, based on one email address that you have authenticated, can get everything on everybody. This data base of ruin is starting to emerge. There are people seeking to do this, and there are already data sets commercially available that are scary in the level of detail they go into. The more we can protect data and make those things unlikely to be used, the better off we will be.
Q. A 2013 Senate report found that data brokers buying and selling personal information sort people into various categories based on their financial circumstance – in essence there is a profile of every one of us, and it can be used for fraudulent purposes. How do these profiles get compiled?
Vickery. The roots of this stuff probably existed before I was born in 1984. I can’t tell you exactly where it all came from, but things like voter data bases get rolled into these commercial purposes. Everything you buy at the grocery store with your special discount card gets rolled into these data bases. Anybody you provide data to is turning around and selling it to somebody. …Learn More