You probably already know that you should have an emergency fund—three to six months of expenses saved in a place you can access it quickly and easily if needed, like a checking or savings account.
But what you might not know is that, beyond your emergency fund, a savings account is one of the worst places to keep—and grow—your money. The average savings account interest rate of the five largest U.S. banks this year was 0.08%—less than one-tenth of one percent!Read more
Monetary Policy and the Phillips Curve: Global edition.
We’ve seen a moderate increase in stock price volatility this June and early July as comments by European Central Bank president Mario Draghi about rolling back stimulus sent interest rates higher and equities lower globally. More recently, mixed data and comments by Federal Reserve Chair Janet Yellen sent U.S. interest rates back down slightly. A lot has happened in the markets, but looking at events in terms of how central bankers view the relationship between unemployment and inflation can help us make sense of this activity and what may happen going forward.Read more
You probably already know that you should have an emergency fund—a bit of extra cash on hand in case of an unforeseen event, like getting laid off or needing to move.
But many of us don’t know more than that. How much should you have? How, exactly, do you save that cash? And should you focus on building this fund or paying off debt first?Read more
There are lots of good reasons to become a doctor. Being a physician means you can help people in one of the most direct ways possible: By doing your best to restore their health. An added bonus is you can eventually make hundreds of thousands of dollars a year doing it; Medscape’s 2016 physician compensation report found that the lowest-earning doctors (pediatricians and endocrinologists) bring in around $200,000 a year, while the highest earners (orthopedists and cardiologists) make over $400,000.Read more