FINANCIAL ADVISOR INSIGHTS: College grads and retired pro football players alike experience a high rate of personal bankruptcy
16% of NFLers are broke within 12 years of retirement (Business Insider)
A recently released working paper written by the National Bureau of Economic Research says approximately 1 in 6 retired NFLers are broke by year 12 of their retirement. Business Insider writes, "That bankruptcy rate is similar to the national average across all 25-to-34 year olds, the study notes, even though NFL players make significantly more money than their 25-to-34 year old peers." This occurs despite, "The average NFL player makes more money in six years than the average college graduate will make in their lifetime."
Marketing tips to grow your business (Financial Advisor)
A new survey from Fidelity Clearing and Custody discovered 35% of respondents consider themselves marketing leaders. How can advisors use marketing to their advantage? Mathias Hitchcock, vice president, practice management and consulting, at Fidelity Clearing and Custody says, "Investing in marketing can pay off, but it's not just about what you spend," he continued, "An investment in time can be just as important. Committing time to even the most fundamental areas of marketing, such as developing a plan or creating a referral process, can yield big gains when it comes to overall growth."
Colorado's marijuana revenues are falling short of expectations (Vocativ)
Revenues from Marijuana sales in Colorado are projected at $69 million for the fiscal year, down from Governor John Hickenlooper's previous estimate of $118 million. Vocativ says, "Lower than expected recreational marijuana sales is a big reason tax revenue is expected to fall short." The publication links the expected revenue miss to "home growing, trafficking and black market production."
Student debt strikers may get relief (Bloomberg)
The US department of education has ruled former Corinthian Colleges students can have their debts forgiven if they are able to prove they were defrauded. Former students of the college have gone on a "debt strike," claiming they were unable to get a job with their degrees. Bloomberg says, "Corinthian's Heald College misstated 947 placement rates that inflated the employment prospects of graduates," and that "Heald paid temporary agencies to hire its graduates to work at jobs on its own campuses for as little as two days and counted them as employed."
US CEO pay jumped 12% in 2014 (Reuters)
Research from Towers Watson & Co shows executive pay in the United States is up 12.1% from a year ago. Compensation was boosted by an increase in the value of pension benefits as pay would have only risen 8.1%, excluding those benefits.