Organizations spend significant sums of money on employee training and wellness — everything from offsite retreats, year-end parties, team-building getaways, conference passes, leadership programs and more.
Our schools and colleges teach us nothing about finances.
Yet, anyone who enters the workforce, is thrown almost immediately into a seemingly incomprehensible quicksand of financial jargon and concepts.
Several lie there; submerged until their waists, tapping their fingers away, being too hesitant to seek help. …
TLDR: Most employee financial wellness programs today are run by distributors of financial products. This inherently creates a conflict of interest. Such programs neither educate their participants about commission-free products, nor about other, better, financial services. The program’s goal isn’t to provide quality, unbiased education, but to act as a customer acquisition channel.
Products in the personal finance investment space — whether they’re insurance, mutual funds or loans are bullet riddled with commissions. The more commissions the product maker provides, the more is a salesman’s incentive to sell that product.
This swiftly results in mis-sellig. What’s worse is that one way or the other, these commissions are paid out of investor’s wealth. …
With 2019 coming to an end, and talks of a recession in 2020, I wanted to bring forward something in the interest of education. This is especially of relevance to beginners in investing, and for those who tend to get influenced by everyday financial noise in the media.
The fact is, economists have predicted a recession for each year, since the past 10 years.