Our Thoughts

FJY News to Know #11

A Barber Earning Over Six Figures?!  You’ve Got to Be Kidding!

How much do you think an average barber earns? Well, in the oil-rich West Texas town of Pecos, some barbers are making $180,000. And while the state has witnessed serious oil booms in the past, some are saying this is one of a kind. Currently the hottest oilfield in the U.S., rig workers have little time to spare — and are willing to spend as much as $75 at the barbershop just to skip the line! Discover how this little town in Texas is thriving from the oil boom.

The Mass Exodus of Banks from Poor Neighborhoods To Keep an Eye On

JP Morgan is closing branches in lower-income neighborhoods and opening new ones in more affluent areas throughout the country. Small businesses in the minority and low-income neighborhoods are bearing the brunt — because of evaporating startup capital. This trend tends to contradict the Community Reinvestment Act of 1977, which sought to level the lending profile playing field.  Other major U.S. banks, such as Bank of America — seem to be more faithful to the regulations of the CRA. Keep reading for more details about the reorganization plans from the biggest banks in America.

How Does America Stack Up With Financial Literacy?

While there are a good number of adults in the US who can solve basic algebra problems, the vast majority aren’t armed with financial literacy. There are many Americans who struggle with money problems all their lives. And because financial topics aren’t talked about enough, there are a lot of people who have had to learn the hard way. As the gap between the poor and rich grows wider, it’s evident that financial literacy is one of the main determining factors that divides the haves and have nots. Find out what financial advisers have to say about this crisis. Also, learn what you need to do to become financially literate.

The Bittersweet 10-Year Anniversary of The Great Financial Meltdown…

Exactly 10 years ago, the S&P 500 had its lowest trading point after the 2008 financial crisis. Had you decided to invest back in 2009 after the stock market plummeted, you would have made a killing today:  If you only invested $1,000 at the lowest point of trading in March 2009, you would have over $4,000 to date.  Here is the analysis of what really happened, and how much investing leverage this timeline produced.