Author: Andrew Clark
-
Gender Disparities in Financial Literacy
In a study conducted by the TIAA Institute, American women on average scored ten percentage points worse than their male counterparts on a financial literacy exam. I’d confidently argue that this isn’t the result of inability. Rather, this phenomenon is likely the result of not having access to resources. Regardless, this is an alarming…
-
The NCAA has a Money Problem
For college sports fans, March Madness is one of the best times of the year. March Madness is a three-week college basketball tournament, showcasing some of the best basketball at the college-level in the country. This one tournament draws a lot of attention, and the National Collegiate Athletic Association (NCAA) definitely benefits. For just one…
-
Why Quibi Failed | How Not to Start a Business
Many have aspirations of starting their own business, whatever it may be. Unfortunately, businesses do not always become big-time successes. In fact, they most often become utter failures. According to the U.S. Bureau of Labor Statistics, about 20% of businesses fail in the first year of operations. This percentage only goes up as time goes…
-
Should You Buy a Haunted House?
In this current housing market, it’s difficult to find a home at market value, let alone below market value. But, what if I told you that there’s a way for you to find a house at a steep discount? The only catch is that you’ll have to have some roommates. Ghostly roommates. The type of…
-
Student Loan Forgiveness Doesn’t Solve the Problem
On July 14, 2023, the Biden Administration announced that it would forgive roughly $39 billion in student loans for over 800,000 borrowers. This comes just a few weeks after the Supreme Court rejected a broader forgiveness effort by President Joe Biden (Dept. of Education v. Brown, Biden v. Nebraska). While there still might be some…
-
No, 401Ks Aren’t Scams
Recently, I’ve seen many people on Twitter, TikTok, and other social media pushing the idea that 401ks are scams. In my opinion, that can’t be any more wrong. Do 401Ks have drawbacks? Of course. There are limited investment options, contribution limits, potential fees, and an age limit for when you can start making withdrawals. However,…
-
How to Take Money Out of Your 401k Without Penalty
In most instances, a withdrawal from a 401K prior to 59½ results in the amount being taxed at your income tax rate plus an additional 10% penalty (IRS). This rule is to encourage people to use these funds only for retirement. However, despite what you might think, there are several exceptions to this rule. In this…
-
Stop Blaming Companies for Bad Parenting
Juul, the e-cigarette company, made headlines recently for getting caught in some legal issues (again). As I started reading the article, the more it came clear to me: some parents take no responsibility for their bad parenting. I’m not looking to defend corporations. Many of these companies are rightfully to blame and should face consequences. …
-
The Ultimate Guide to IRAs
An IRA, or Individual Retirement Account, is a type of investment account specifically designed to help individuals save for their retirement. An IRA itself is not an investment. Like a checking or savings account, it is simply an account to invest in. In other words, just putting money into this account doesn’t mean you are…
-
The Ultimate Guide to 401K Plans
Retirement planning is one of the most important aspects of personal finance, and a perfect place to start your retirement planning journey is with 401K plans. Like an IRA, a 401K plan is a retirement plan that offers tremendous tax benefits and other incentives. One of the most notable features of this plan is that…