Nudging like a Nobel Prize Winner

Nudging like a Nobel Prize Winner

On Monday, Richard Thaler was named as the 79th recipient of the Nobel Prize in economics. The Nobel Prize committee’s press release included the following statement: “By exploring the consequences of limited rationality…and lack of self-control, [Richard Thaler] has shown how these human traits…affect individual decisions as well as market outcomes.”

If “limited rationality” or “lack of self-control” sounds like you or someone you love, you might find valuable insight in Richard Thaler’s work.

Is It Time for Medicare Advantage ?

Is It Time for Medicare Advantage ?

Medicare’s annual enrollment period starts on October 15. If you are currently enrolled in Medicare, this is a good time to take a fresh look at your Medicare election. For those of you who are not yet 65, now is a good time to begin learning about how Medicare works.

Medicare is divided into four parts. The most common are Part A (hospitalization insurance), Part B (medical services insurance), and Part D (prescription drug insurance.) Part C, otherwise known as Medicare Advantage, is less well-known, but is finally starting to come of age.

Improving Your Personal Digital Security

Improving Your Personal Digital Security

If you have ever seen a really bad traffic accident, you understand how it can affect your behavior—at least for a little while. Suddenly, you realize that small and simple changes would make you a much safer driver. You slow down. You give the car in front of you a little more room. The urge to text is a little less compelling.

Similarly, recent high-profile computer hacks may leave you wanting to be a little more careful with your personal information.  If so, there are a number of relatively simple steps you can take to improve your personal digital security.

Life After the Equifax Hack

Life After the Equifax Hack

Q: It seems like everybody is talking about the Equifax hack. How do I know if my information was involved and what should I do about it?

A: On September 7, Equifax revealed that it had been hacked. Hackers stole personal information on 143 million people which accounts for roughly 60 percent of the adult population of the United States. If you are an adult with a financial life, you should probably assume your information was stolen. You can protect yourself by doing three simple things.

Live Long and Prosper - planning for longevity

Live Long and Prosper - planning for longevity

Q: My financial advisor recently suggested I buy an annuity. He said it would help make sure I don’t outlive my assets. I was surprised by the recommendation because I have always been told to avoid annuities (they are expensive and illiquid, etc.). I’m in my late 50’s and I would like to get ready for retirement. Can an annuity help?