Since the financial crisis, low interest rates have cost savers around $500 billion.Wells Fargo analyst Mike Mayo speaks about rate suppression as the legacy of the 2008 crisis. Seniors with well-funded retirements are prime targets for scammers. But new laws are here to protect elders from financial exploitation, as Mary Kane of Kiplinger reports. Is your spouse financially prepared for your eventual passing? Taking the time to consider the plight of your spouse or partner and family is an often overlooked aspect of planning. Steve Gresham describes how you can better prepare your family.
American Savers Lost An Estimated $500 Billion Due To Low Interest Rates Since The Financial Crisis –It’s largely the result of the Federal Reserve’s post financial crisis policies, according to Wells Fargo analyst Mike Mayo. “It’s absolutely a wealth transfer from prudent savers to the borrowers and risk takers,” Mayo said. Read more…
One In Five Older Americans Falls Prey To Financial Exploitation Each Year — The next time you meet with your financial adviser, you may be asked to supply a trusted point of contact, which is a relative or friend to call if the adviser has a reasonable belief that you might be a victim of financial exploitation. Mary Kane of Kiplinger details the new laws passed to help protect seniors from scams. Read more…
How To Financially Prepare Your Spouse For Your Eventual Passing — You can act now to protect your spouse from the financial confusion that can follow your death. Steve Gresham of Financial Advisor describes the steps to take. Read more…
John R. Day, Bill Ennis, Stephanie Hall, and Matt Heller
Disclosure – The articles mentioned in Mid Week with Day & Ennis are for information and educational purposes only. They represent a sample of the numerous articles that the firm reads each week to stay current on financial and economic topics. The articles are linked to websites separate from the Day & Ennis website. The opinions expressed in these articles are the opinions of the author and not Day & Ennis. This is not an offer to buy or sell any security. Day & Ennis is under no obligation to update any of the information in these articles. We cannot attest to the accuracy of the data in the articles.