November’s Newsletter

IF THE KEY TO SMART money management was financial education, we’d all be voracious savers and rational, tenacious long-term investors. The reality: We are neck-deep in articles and books devoted to personal finance—I have been a generous contributor to the flood—and yet there’s scant evidence we’ve become any more financially responsible.

In short, the problem isn’t education. Rather, it’s getting ourselves to act. That’s the topic I tackle in November’s newsletter. My firm belief: In the years ahead, we’ll spend a lot less time debating whether a 4% retirement withdrawal rate is sustainable or whether we should have 20% or 40% of our stock portfolios invested abroad—and a lot more time trying to figure out how to get Americans to improve their financial behavior.

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