I hope you enjoy these short summaries of three of the most interesting and thought-provoking items that have crossed my desk this week…
Brave new world of financial planning?
Can a new blood test tell you how long you’ll live? And if you knew how long you would live, would you change your financial life?
A blood test showing how fast people are aging will go on sale over the counter in Britain later this year. It measures the length of your “telomeres,” structures at the tips of your chromosomes. Scientists now believe these are the most accurate measure of how quickly you’re aging.
Financial planners say the test could add more science to their practice.1
As one financial planner noted…
From a financial point of view, it would be great information to have. But from a psychological standpoint – that’s a hard question. I don’t think I would want to know. I think it would make me depressed.”
How would you feel about knowing when you’re likely to die? And how would your financial decisions change as a result?
Tell us in the comments box below…
New Research: Most Americans in deep financial hole
The financial status of American households may be even darker than we thought, according to a new study by the National Bureau of Economic Research.2
Some of the highlights (or should we say “lowlights”) include:
- Lack of Financial Literacy – less than 10% of respondents correctly answered basic questions on economics and finance in every-day life
- No Financial Safety Net – only half have enough rainy-day funds set aside to cover them for three months in the event of a severe loss of income
- The majority have done no retirement planning
- Many don’t have a clue how their retirement account is invested
Want to Know What Your Nest Egg Will Be Worth on the Day You Want to Retire?
You can when you Bank On Yourself. Find out how an asset class that has increased in value every single year for more than 160 years can give you financial security and peace of mind. You can find out the guaranteed, predictable value of your plan when you request a free, no-obligation Analysis. Turn your back on the roller-coaster ride of stocks, real estate and other investments!
The myth of American financial competence
Are the “masters of the financial universe” corrupt? Or just plain incompetent?
This article from Forbes 3 summarizes the recent massive missteps of financial giants like Goldman Sachs, JP Morgan Chase, Citigroup and Bank of America, along with the burgeoning disaster in public and private pension funds.
The author asks…
Do you have faith in your financial leadership to do more than maximize their annual bonus?”
What happens when Life Insurance companies start making this blood test a routine part of their physical exam prior to issuing you a policy?
Nearly if not mostly all financial planners sound as if they came from washington, that being said. If I were to put them in my garden there is no doubt in my mind what so ever thatI would wind up with a garden full of burned out plants. Due in most part, to too much fertilizer!!!!!!!!!!!!!!!!!!!!!
No one but I have the best interests for me at heart. Any financial planner has his commission, his interests at heart.
In my opinion the Bank on Yourself plan is the best plan that exists and it leaves me in control. I have bought the BOY plan a couple of years ago and it has served me well. I am very satisfied with it. It gives me the peace of mind I need, to know that I will have money to live on when I will not be able to work anymore.
My only good financial leadership is ME.
I do not trust the government, they are only interested in their interests and not in the country’s; especially the present government would certainly want to control everything they can lay their filthy hands on.
Especially now we have to take control of our financial interests and make sure there is money for our retirement without depending on anyone or anything else; especially not depend on Social Security or 401Ks.