Daily Reads 8/2/2019
Hi, everyone and happy Friday. Ending the week, we look at USAA’s decision to reduce cash yields following Schwab deal. CFP appoints a task force to review disclosure procedures, helping address recent criticism regarding their reporting on financial planners. We look at the contrast of stalled wages amid rising costs, and how that’s impacting the middle class and their debt obligations. In the U.S., only 5% are millionaires, but this doesn’t mean you can’t lead a wealthy life. And a new Oxford research study finds that exercise makes you happier than money does.
harles Schwab’s purchase of 1 million USAA accounts will benefit the industry titan’s bottom line — but it will also cut into returns on cash belonging to veterans and their families.
Certified Financial Planner Board of Standards appoints task force to review disclosure procedures
Wages stalled but costs haven’t, so people increasingly rent or finance what their parents might have owned outright
It’s estimated only 5% of people in the United States are millionaires. So if we’re using millionaire-status as a way to gauge wealth in this country, a lot of people are never going to get to the point where they’re considered “rich.”
Researchers at Yale and Oxford say exercise is more important to your mental health than your economic status.