Will the markets panic as the U.S. nears default? The CEO of JP Morgan Chase testified on the threat to global markets in a Senate hearing last Thursday. • Sharing bank accounts with your heirs can lead to problems. Casey Robinson, CFP, describes better ways to give your survivors access to your assets. • Personal investing is rarely taught in schools. So parents need to teach their kids how to invest, as Kyle Woodley explains for Kiplinger.
Jamie Dimon Warns Of Market Panic As U.S. Nears Default — JPMorgan Chase CEO Jamie Dimon said Thursday that markets will be gripped by panic as the U.S. approaches a possible default on its sovereign debt. Dimon said he expects that worst-case scenario will be avoided, however, because lawmakers will be forced to respond to growing concern. Read more…
Joint Account With Rights of Survivorship And Alternatives Explained — The majority of banks set up joint accounts as “Joint With Rights of Survivorship” (JWROS) by default. This type of account ownership generally states that upon the death of either of the owners, the assets will automatically transfer to the surviving owner. This can create a few unexpected issues. Read more…
Why You Should Teach Your Kids Investing — Fewer than a quarter of American high school students will take a personal finance course this year, says financial-curriculum advocate Next Gen Personal Finance in its 2023 State of Financial Education Report. Learning how to invest places kids on a more certain path – one where they’re likelier to end up more financially independent. Kyle Woodley details some of the reasons to give your kids the right start. Read more…
John R. Day, Bill Ennis, and Matt Heller
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