Daily Archives: October 25, 2017

Grades and comments so far…

Hi folks – I have posted a space in Canvas, “Comments re performance to date,” that will show comments and a current grade for your work so far, according to the holistic grading rubric. (Note that “so far” is through what I SAW for you as of Oct 16….) If you do NOT yet see that I have added that space for you, do not fret. (And please be patient just a bit longer, as in until about this weekend. I am slowly – and with ENJOYMENT and value – reading your work, and enjoying getting to take that time.)

I am seeing some quite thoughtful posts, btw. For those who have NOT yet posted a Glossary Building post, it’s time to start, just a heads up…. Oh, and the GB posts I’m seeing tend to show me the learning that happens when we go after a new-to-us concept or term. Exciting! So do it….

Btw, the green checkmark in your Canvas space indicates that I am complete, so far, with your comments/grade. YOU may be missing one or more items, which you should be able to check against what’s due so far (in other words, if you did NOT yet do even one GB post, you know that.) Similarly, if you have done something, and you don’t believe I’ve seen it, make a note of it. Usually that will be because you neglected to UNcheck the UNcategorized category, or you used a category that made it look like it was for one prompt when really it was for another (or titled your post in some way that confused me, or something like that).

Another heads up – although you won’t see things “marked off” in that comments re performance space, I do have a “check-off” column for each prompt in an excel. If you DO believe your current grade doesn’t look as though it reflects what you’ve done, let me know.

Cheers, enjoy the rest of your week, and keep exploring, learning, and writing. Oh, and make ONE healthy consumer choice in the next few days – whether modifying a choice you’d typically make, or deciding something entirely new for your life. Why not? You can do it. –Dr. P

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Glossary Building Post 3

The pregnancy industry has many faults both before, after, and during a pregnancy, one that stuck me the most was the cord blood controversy. Cord blood is blood from the umbilical cord that many families choose to have frozen in case their child has a genetic deformity or falls ill with a chronic disease. The problem with this is that if either of these things happen to the child, the defect or disease is likely to be in the cord blood, rendering the stem cells in it useless. Luckily, umbilical cords and their blood can be donated to public institutions where families will have access to them for free which may be a better and less expensive option.

The next topic is one very close to me, and I am sure many of my peers: student loans. About 70 percent of students graduating with a bachelor’s degree end up in debt, the average debt being around $28,000. This is a lot of money to be paid back for someone who is just starting their career. Therefore, former President Obama put into law a student reform that requires affordable loan payments every year, capping these payments at 10 percent of the borrower’s income. This is good for many borrowers as this gives them time to get together more money, however, it may take a longer time to pay off. The good news is that if the borrower goes into federal work, they may have their student loans forgiven by Public Service Loan Forgiveness that mandates that after ten years of qualifying payments, those working in government, nonprofit, and other public service jobs may have their remaining debt forgiven.

  • Cord blood: Blood from the umbilical cord that remains in the placenta that can be frozen for the future if the child has a disease, but will most likely be ultimately unhelpful as the child’s disease will also be in the cord blood.
  • Affordable Loan Payments: 10 percent of the borrower’s income according to Former President Obama’s student reform.
  • Public Service Loan Forgiveness: Those who work in a federal program may have their remaining student debt forgiven after 10 years of qualifying payments.

Finance Prompt 2

Both “Last Week Tonight with John Oliver: The Retirement Industry is a Minefield – But Here’s the Answer” and “4 Arguments Against the Fiduciary Rule Debunked” both argue that the Fiduciary Rule would only be beneficial to consumers. The Fiduciary Rule is a professional obligation that requires financial advisers to put their client’s best interests ahead of their own. Before this rule was instated, many financial advisers were having their clients do things that are beneficial for the advisory and many of these clients had high interest rates, which according to “Last Week Tonight with John Oliver: The Retirement Industry is a Minefield – But Here’s the Answer” can add up as “paying a 2 percent fee, [could mean] losing two-thirds of savings over a fifty-year time period” (Lee, 2016).

Looking at both of these articles from a consumer point of view, the John Oliver one was easier to understand. As I am a 20-year-old Nutrition major, I know next to nothing about business, therefore, I know next to nothing about financial advisers and how they operate. I do recognize this as being a problem, however, I have always thought that I would start saving for retirement after graduating college, and that retirement worries can wait till then, for now I just need to figure out how I am going to afford housing, food, and gas at the same time. I think this may be true for many consumers this age, the exception being those who are studying business. If the consumer is well-informed or currently saving for retirement, then “4 Arguments Against the Fiduciary Rule Debunked” might be more helpful. For instance, in this article’s first point, it states that the government cannot reclaim a consumer’s assets “unless you’re a criminal” (“4 Arguments Against the Fiduciary Rule Debunked”). This was news to me as I thought that the government could reclaim anything and everything depending on the level of debt that person may be in. Another thing that I, and most likely many consumers, was unaware of is that “some advisers receive commissions for their financial counsel” (“4 Arguments Against the Fiduciary Rule Debunked”). While I knew that financial advisers needed to be paid by their clients, I was not aware that they could also take commission from the prosperous investments made by their clients. To summarize, I believe that “Last Week Tonight with John Oliver: The Retirement Industry is a Minefield – But Here’s the Answer” provides better baseline information for those who are uninformed about the business world whereas “4 Arguments Against the Fiduciary Rule Debunked” provides better information for those who are more informed about the business and retirement world.

Bibliography

Lee, K. (2016, June 14). LAST WEEK TONIGHT WITH JOHN OLIVER: THE RETIREMENT INDUSTRY IS A MINEFIELD — BUT HERE’S THE ANSWER. Retrieved October 25, 2017, from https://uspirg.org/blogs/blog/usp/last-week-tonight-john-oliver-retirement-industry-minefield-here%E2%80%99s-answer

4 Arguments Against the Fiduciary Rule Debunked. (n.d.). Retrieved October 25, 2017, from http://www.truemeasureadvisors.com/2016/04/20/20164145-argument-against-the-fiduciary-rule-debunked/