Nevin's Data "Points"

Early on a bright Tuesday morning in 2001, I was in the middle of a cross-country flight, literally running from one terminal to another in Dallas, when my cellphone rang. It was my wife. I had been on an American Airlines flight heading for L.A., after all—and at that time, not much else was known about the first plane that struck the World Trade Center on Sept. 11. I thought she had to be misunderstanding what she had seen on TV. Would that she had… That day, when family and friends were so dear and precious to us all, I spent in a hotel room in Dallas. It was perhaps the longest day—and loneliest night—of my life. In fact, I was to spend the next several days at that Dallas hotel. There were no planes flying, no rental cars to be had—and so I was stranded—separated from home and family by hundreds of insurmountable miles for three interminably long days. As that week drew to a close, I was finally able to get a rental car and begin a long two-day journey home. While...

Financial literacy has long been touted as something of a “silver bullet” in helping workers make better financial decisions – and now there’s a call to make it a mandatory employment offering.  Now, we all know that lots of workers get their first (and for many only) exposure to financial markets via their workplace retirement plan. Ditto their only education about investing, diversification, or even mutual funds. Little wonder that those who are tasked with delivering those lessons have long championed the need for some basic level of financial education in school curricula. The issue was most recently raised earlier this year in a paper titled “ Defined Contribution Plans and the Challenge of Financial Illiteracy .” Authored by Jill Fisch of the University of Pennsylvania Law School, as well as financial literacy icon Annamaria Lusardi and Andrea Hasler from George Washington University School of Business, the paper compares the relative financial acumen of w...