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Why do workers in the financial industry get paid so much? There are many possible explanations, none of them completely satisfying. The financial industry commands a much larger share of the US economy than in the past, causing some to worry that th...

Dear Dave, I’m about to graduate from college, and while I’ve been in school my mom has been handling most of my finances. Recently, I discovered she’s been taking my student loan money and spending it on herself. So far, it looks like she’s taken ar...

Matt Carey studied Arabic at the University of Pennsylvania, preparing for what he hoped would be a career at the Central Intelligence Agency. Eleven years later, he’s pitching annuity contracts. He’s actually happy about that. A summer job at the St...

Martha Myron, Moneywise Now that all the pomp and circumstance, experienced pundit reviews, and scrutiny by the public (in the papers, of course) is long gone, it is now the turn of a lowly Bermudian financial planner — who writes for the people — to...

Last week we posted the first part of the annual Bermuda financial literacy test. Here is the second and final section for those brave souls who want to stress their brains this weekend. The total test of 25 questions is relatively easy compared to ...

Historical data show that stocks tend to post strong performances during periods of rising interest rates but only below-average results when inflation is rising or above average. This counterintuitive dynamic was explained by Warren Buffett in 1977 ...

Dear readers, we discussed the all encompassing role of mathematics in our economy, our lifestyles, and our very existence, last week. We alone determine where we end up in our financial life. We can’t rely upon anyone but ourselves. We can help each...

Dear Dave, I received a call the other day from a company saying it could negotiate the balance on my credit cards to a lesser amount. The caller also said they could get me a zero-per cent interest rate until the debts were paid off, and then the ac...

Maths are everything. Maths are absolute. Maths are everywhere in our world in virtually every decision we make in our daily lives. Behind the scenes, maths calculations have become so mundane that we have become practically oblivious. And, maths ph...

Buying a home can be lots of fun. It’s exciting to see all those years of dreaming come to life in a place you can finally call your own. With so many possibilities at your fingertips, it’s easy to get caught up in the excitement before asking yourse...

Dear Dave, My wife and I have $72,000 in debt from student loans and a car loan. We’re trying to pay off our debt using the debt snowball system, and we each make about $45,000 a year. She’s a teacher, and she’s planning on going back to school for h...

With so much advice out there about saving money, being encouraged to spend could sound a little weird. But that’s what some financial services firms are telling retirees to do — to make a resolution to use more of those dollars they’ve been socking ...