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Survey Finds Banking Experience is Improving, But Consumers Are Missing Easy Savings Opportunities

Despite having a checking account, 22 percent of Americans report using alternative banking products like cash checking services

CHERRY HILL, N.J., Sept. 25, 2014, TD Bank, America’s Most Convenient Bank®, today released its second annual TD Bank Checking Experience Index, which found that the banking experience of Americans has improved year over year. According to the Index, 86 percent of consumers rate their day-to-day experience with their checking account as excellent or very good (compared to 83 percent in 2013) and 85 percent of consumers say their bank is excellent or very good when it comes to accessibility (compared to 83 percent in 2013). The TD Bank Checking Experience Index is a nationwide survey of more than 1,500 consumers with checking accounts at various financial institutions.

Although consumers are generally happy with the services provided by their banks, 22 percent of survey respondents with a bank account say that over the last three months they have used alternative banking products such as check cashing services (12 percent), money transfer agents (11 percent) and payday loans (4 percent). When bank customers were asked why they used alternative banking products, 16 percent said they did not have a particular reason for using non-bank financial services.

“One in five consumers with a bank account are using alternative banking products, which could add needless cost to their monthly budget,” said Ryan Bailey, Executive Vice President, Head of Retail Deposit and Payment Products, TD Bank. “Consumers who are using these types of services should have a conversation with a banker to learn about less expensive financial products that can meet their everyday financial needs.”

Banking Behaviors Continue to Evolve Debit cards and online banking play central roles in the banking behaviors of today’s consumers. A large percentage of those surveyed reported that their experiences with debit cards and online banking are excellent or very good (92 percent and 91 percent, respectively). Of the 23 banking transactions that checking account holders report making each month, on average, 10 are debit card purchases and six are conducted through online banking.

Across all survey respondents, 60 percent of checking account owners said their debit card is an essential service. An even larger number of Millennials (74 percent) can’t imagine not having a debit card. When it comes to online baking, 51 percent of consumers cite it as their preferred channel to conduct checking account transactions.

While services like debit cards and online banking are both vital, the Index found that a personal connection remains important to consumers. When asked about the last time they had a question or concern regarding their checking account, the majority of respondents still rely on a telephone call or a visit to a bank location to have questions answered. However, behaviors are evolving. Telephone outreach for issue resolution grew almost 9 percent over the past year (34 percent in 2013 vs. 37 percent in 2014) and in-person resolution at a bank location declined by 15 percent (40 percent in 2013 vs. 34 percent in 2014).

Triggers for Switching Banks Include Life Events and Fees The TD Index data also reveals that fees and life events remain major triggers for changing banks. More than one third (38 percent) say they would close their primary checking account or consider leaving their bank because of fees. However, only eight percent of respondents had closed or switched their primary checking account in the past two years, down from 12 percent in the 2013. Of the eight percent of respondents who reported closing or switching checking accounts in the past two years, the main reason for doing so was a life event such as moving (29 percent), followed by bank fees (27 percent).

Advice for Consumers Based on the results of the Index, Bailey offered advice to help consumers improve their banking experience while getting the most out of their checking accounts:

  • With 60 percent of Americans saying they can’t imagine not having a debit card, consumers should have a plan of action if their card is misplaced or stolen. They should check to see if their bank offers on-the-spot debit card replacement and access to 24/7 customer service.
  • Only 13 percent of Americans are using reloadable prepaid cards. This relatively new product category offers many of the benefits of a checking account, such as the ability to receive a paycheck through direct deposit and to make purchases online, and can serve as an introduction to banking for the population that currently depends on alternative financial service providers.
  • Nearly two thirds (62 percent) of Americans say their bank is offering products and services that take advantage of new technologies like mobile apps and mobile deposit. That means that 38 percent of account holders may not be enjoying the conveniences that modern banks are providing. Consumers who want access to the latest banking technologies may want to consider trying a bank that offers their customers the ability to manage their finances in more ways.

Survey Methodology The study was conducted among a nationally representative group of consumers from August 25 through September 1, 2014. The sample size of 1,510 consumers has a margin of error of +/- 2.5 percent. The survey was hosted by global research company Angus Reid Public Opinion.

About Angus Reid Public Opinion Angus Reid Public Opinion is the Public Affairs practice of Vision Critical—a global research company. Vision Critical is a leader in the use of the Internet and rich media technology to collect high-quality, in-depth insights for a wide array of clients.

About TD Bank, America’s Most Convenient Bank TD Bank, America’s Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 8 million customers with a full range of retail, small business and commercial banking products and services at approximately 1,300 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.tdbank.com. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US.

TD Bank, America’s Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol “TD”. To learn more, visit www.td.com.

SOURCE:

http://www.td.com

 

Zillow Ranks Top Places Where Mom-and-Pop Landlords Make the Most Money

Homeowners turned landlords are most profitable in Oklahoma City, Okla. in short-term profit; San Jose, Calif., in the long-term profit, according to a Zillow Rentals Analysis

SEATTLE, Aug. 15, 2014, Zillow today named the Oklahoma City area the top place where mom-and-pop landlords stand to make the most money on their rental property on a month-to-month basis.  A Zillow Rentals analysisi looked at the top 50 U.S metros to determine which areas provide the best short-term return on investment for landlords. Rental property owners in the Oklahoma City metro area can expect to profit $536 per month on the median home when comparing anticipated rental income versus their assumed monthly mortgage payment.

Mom-and-pop landlords are homeowners who have turned their personal home into a rental rather than selling it when they move.

Zillow has also named the best places for landlords interested in long-term profitsii. When looking at rental income, tax benefits and accumulated home equity (thanks to rapid home value appreciation), landlords in San Jose, California, make the most money: $8,927 per month, or $107,122 per year. The majority of this “profit” is derived from earned but unrealized equity distributed evenly each month over the next six years. Most, if not all, of this profit will not be realized until the landlord sells the property.

“When deciding if they should sell their home or rent it out, most mom-and-pop landlords are primarily concerned with whether or not they can cover their mortgage payment each month – they simply can’t absorb monthly losses like professional investors,” said Zillow Chief Economist Dr. Stan Humphries. “However, the greatest returns are actually in markets like San Jose and San Francisco where there are short-term monthly losses, but the long-term earned equity makes them the best markets to invest in.”

Nationally, the Zillow Rent Index has increased 2.5 percent since June 2013 and 9.1 percent since June 2011. On a local level, the Zillow Rent Index has gone up as much as two to three times that amount over the past year in rental hotspots such as metro Chicago (+6.3 percent) and San Francisco (+11 percent).

The full list of best places to own a rental property can be found by visiting Zillow Real Estate Research.

Top 10 Markets for Short-term Financial Gain (difference between rent and mortgage payment on the median home, accounting for property and income taxes, maintenance and vacancy)

Release contains wide tables. View fullscreen.

Rank Metro Area Short-term profit (monthly) Short-term profit (annually)
1. Oklahoma City $536 $6,431
2. Miami-Fort Lauderdale, Fla. $515 $6,184
3. Tulsa, Okla. $396 $4,753
4. Cincinnati $385 $4,621
5. Denver $355 $4,258
6. Rochester, N.Y. $349 $4,182
7. Tampa, Fla. $287 $3,448
8. Dallas-Fort Worth, Tex. $264 $3,166
9. Indianapolis $251 $3,014
10. Memphis, Tenn. $242 $2,901
11-50 Can be found by visiting: http://www.zillow.com/research/landlord-profit-7357/

Top 10 Markets for Long-term Financial Gain (includes home equity gains, tax benefits, and the difference between monthly rental income and mortgage payments after holding onto the property for six years on the median home. Also accounting for property/income taxes, maintenance and vacancy)

Release contains wide tables. View fullscreen.

Rank Metro Area Long-term profit (monthly) Long-term profit (annually)
1. San Jose, Calif. $8,927 $107,122
2. San Francisco $6,078 $72,939
3. Los Angeles $4,328 $51,938
4. San Diego $4,165 $49,983
5. Riverside, Calif. $3,659 $43,907
6. New York $3,179 $38,147
7. Boston $3,009 $36,109
8. Seattle $2,861 $34,335
9. Sacramento, Calif. $2,694 $32,328
10. Honolulu $2,512 $30,144
11-50 Can be found by visiting: http://www.zillow.com/research/landlord-profit-7357/

About Zillow, Inc.

Zillow, Inc. (NASDAQ: Z) operates the largest home-related marketplaces on mobile and the Web, with a complementary portfolio of brands and products that help people find vital information about homes, and connect with the best local professionals. In addition, Zillow operates an industry-leading economics and analytics bureau led by Zillow’s Chief Economist Dr. Stan Humphries. Dr. Humphries and his team of economists and data analysts produce extensive housing data and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price Expectations Survey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow Home Value Index over the next five years. Zillow also sponsors the bi-annual Zillow Housing Confidence Index (ZHCI) which measures consumer confidence in local housing markets, both currently and over time. The Zillow, Inc. portfolio includes Zillow.com®, Zillow Mobile, Zillow Mortgage Zillow Rentals, Zillow Digs®, Postlets®, Diverse Solutions®, Agentfolio®, Mortech®, HotPads™, StreetEasy® and Retsly™. The company is headquartered in Seattle.

Zillow.com, Zillow, Postlets, Mortech, Diverse Solutions, StreetEasy, Agentfolio and Digs are registered trademarks of Zillow, Inc. HotPads and Retsly are trademarks of Zillow, Inc.

i For short-term financial gain, Zillow identified the top places where landlords make the most money on their rental property based on several assumptions including that the median valued property was purchased five years ago in May 2009, with a 30-year fixed rate mortgage, a 20 percent down payment, and an interest rate of 4.5 percent, roughly the rate that prevailed at the time. For tax purposes we assume that the homeowner is married with a gross annual income equal to the metro-area median and that the property is vacant at a rate equal to the metro-area average vacancy rate. Finally, we assess the net profit excluding equity earned if the homeowner rents out the property for an additional seven years during which home values and rents increase at their historic rates.

ii For long-term financial gain Zillow identified the top places where landlords make the most money on their rental property based on several assumptions including that the median valued property was purchased five years ago in May 2009, with a 30-year fixed rate mortgage, a 20 percent down payment, and an interest rate of 4.5 percent, roughly the rate that prevailed at the time. For tax purposes we assume that the homeowner is married with a gross annual income equal to the metro-area median and that the property is vacant at a rate equal to the metro-area average vacancy rate. Finally, we assess the net profit and accumulated home equity if the homeowner rents out the property for an additional seven years during which home values and rents increase at their historic rates.

SOURCE:

Zillow, Inc. http://www.zillow.com

 

Bankrate: Mortgage Rates Slightly Higher Following Strong Jobs Report

NEW YORK, July 10, 2014, Mortgage rates moved higher following a stronger than expected jobs report, with the benchmark 30-year fixed mortgage rate rising to 4.31 percent, according to Bankrate.com’s weekly national survey. The average 30-year fixed mortgage has an average of 0.33 discount and origination points.

To see mortgage rates in your area, go to http://www.bankrate.com/funnel/mortgages/

The average 15-year fixed mortgage rate inched higher to 3.41 percent, while the larger jumbo 30-year fixed mortgage rate increased to 4.33 percent. Adjustable rate mortgages were mixed, with the 5-year ARM holding steady at 3.33 percent and the 10-year ARM climbing to 3.88 percent.

So why did a blockbuster jobs report have such a muted impact on mortgage rates? In large part the flood of cheap money from central banks around the globe is keeping a lid on rates, even in the face of the type of economic news that historically has pushed rates higher in a more pronounced way. Many investors around the globe are parking this cheap cash in the safety of U.S. Treasury securities, at yields that are favorable to what can be found elsewhere around the globe. Mortgage rates are closely related to yields on long-term government debt.

As 2013 came to a close, the average 30-year fixed mortgage rate was 4.69 percent. At that time, a $200,000 loan would have carried a monthly payment of $1,036.07. After drifting lower throughout the first half of 2014, the average rate is now 4.31 percent, and the monthly payment for the same size loan would be $990.92, a savings of $45 per month for anyone that waited.

SURVEY RESULTS

30-year fixed: 4.31% — up from 4.28% last week (avg. points: 0.33)

15-year fixed: 3.41% — up from 3.40% last week (avg. points: 0.19)

5/1 ARM: 3.33% — unchanged from last week (avg. points: 0.21)

Bankrate’s national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in the top 10 markets.

For a full analysis of this week’s move in mortgage rates, go to http://www.bankrate.com/mortgagerates

The survey is complemented by Bankrate’s weekly Rate Trend Index, in which a panel of mortgage experts predicts which way the rates are headed over the next seven days. According to the panelists, don’t expect any sharp pullback in mortgage rates. The majority – 80 percent – expect mortgage rates to remain more or less unchanged over the coming week, while the remaining 20 percent predict mortgage rates will rise. Interestingly, none of the respondents predicts a decrease in mortgage rates over the next seven days.

For the full mortgage Rate Trend Index, go to http://www.bankrate.com/news/rate-trends/mortgage.aspx

To download the Bankrate Mortgage Calculator & Mortgage Rates iPhone App 2.0 go to https://itunes.apple.com/us/app/bankrate-mortgage-calculator/id551454062?mt=8.

About Bankrate, Inc.

Bankrate (NYSE: RATE) is a leading publisher, aggregator, and distributor of personal finance content on the Internet. Bankrate provides consumers with proprietary, fully researched, comprehensive, independent and objective personal finance editorial content across multiple vertical categories including mortgages, deposits, insurance, credit cards, and other categories, such as retirement, automobile loans, and taxes. The Bankrate network includes Bankrate.com, our flagship website, and other owned and operated personal finance websites, including CreditCards.com, Interest.com, Bankaholic.com, Mortgage-calc.com, CreditCardGuide.com, InsuranceQuotes.com, CarInsuranceQuotes.com, InsureMe.com, and NetQuote.com. Bankrate aggregates rate information from over 4,800 institutions on more than 300 financial products. With coverage of nearly 600 local markets in all 50 U.S. states, Bankrate generates over 172,000 distinct rate tables capturing on average over three million pieces of information daily. Bankrate develops and provides web services to over 80 co-branded websites with online partners, including some of the most trusted and frequently visited personal finance sites on the Internet such as Yahoo!, CNN Money, CNBC, and Comcast. In addition, Bankrate licenses editorial content to over 500 newspapers on a daily basis including The Wall Street Journal, USA Today, The New York Times, The Los Angeles Times, and The Boston Globe.

For more information contact:

Kayleen Yates Senior Director, Corporate Communications kyates@bankrate.com (917) 368-8677

SOURCE:

Bankrate, Inc.

http://www.bankrate.com

 

Example of Investors Striving to Improve Worldwide Education:

Safanad and Ron Packard, Founder of K12 Inc., Launch Pansophic Learning and Acquire Assets from K12 to Pursue Global Education Opportunities

 

MCLEAN, Va., June 13, 2014, Safanad Limited, a global principal investment firm, and Ron Packard, K12 Inc. founder and former CEO, today announced the launch of Pansophic Learning, a new company whose mission will be to provide access to a high quality education for every student worldwide.

Pansophic Learning immediately acquired from K12 Inc. several assets including an international brick and mortar private school, a higher education platform business and the K12 business in the Middle East. Additionally, Pansophic Learning acquired licenses to curriculum and technology. The management and staff of these acquired companies, operating out of three continents, will join Pansophic Learning upon the closing of this transaction. Pansophic Learning will expand and integrate these businesses with other targeted investments in educational products, services and schools from pre-K to college.

Pansophic Learning and its holding company, Safanad Education, a subsidiary of Safanad Limited, plan to make additional strategic and substantial education investments both in the United States and globally. Pansophic Learning will consider investments not only in the K-12 market, but also in post-secondary and early childhood education.

Packard will lead the company, based in Mclean, Virginia, as Chief Executive Officer and will be joined by Maria Szalay, as COO, and a select management team with a strong track record of building a large education company. Pansophic Learning intends to achieve the same success by investing capital as well as providing strategic and operating expertise to education related enterprises.

Kamal Bahamdan, CEO of Safanad, said, “Pansophic Learning exemplifies Safanad’s commitment to visionary and high-value investments in education that help improve the lives of children and students globally. We feel fortunate to be able to back Ron and his team who have proven entrepreneurial and leadership skills in the sector to embark on such an important mission.”

Packard stated, “Pansophic Learning is inspired by the promise that everyone should have access to a high-quality individualized education regardless of location or economic circumstances, both here in the United States and globally. We believe there are tremendous opportunities in both technology-based education and also in businesses that aren’t currently based around technology.”

Packard commented further, “We are fortunate to partner with Safanad, who shares our vision, and I am excited to return to my entrepreneurial roots with this new venture. Safanad’s extensive resources will allow us to pursue opportunities of all sizes.”

About Safanad Limited:

Safanad is a global principal investment firm that invests in real estate, private equity and public markets.  As principal investors, Safanad preserves and grows wealth through carefully selected investments with aligned industry partners. With offices in New York, Dubai, London and Geneva, the firm seeks to identify global investment opportunities poised to deliver consistently attractive returns, where the firm’s capital and investment expertise support value creation.  Safanad’s investment focus is primarily within the healthcare, education, financial services and retail sectors. The firm’s investment expertise is enhanced by its relationship with the Bahamdan Group, Safanad’s founding shareholder, which has over 60 years of experience in global principal investing and building strategic partnerships.

For more information visit www.safanad.com & PansophicLearning.com

Press Contacts:

Pansophic Learning: Regina Lewis, 703-728 -0327 rlewis@pansophiclearning.com

Safanad: Annette Bronkesh, 973-778-8648 abronkesh@safanad.com

Source:

Pansophic Learning

http://pansophiclearning.com/

 

American Realty Capital Properties Announces Agreement to Acquire Red Lobster Real Estate In Approximate $1.5 Billion Sale-Leaseback Transaction

Acquisition Includes Over 500 Properties

Aggregate Acquisition to be Completed at a GAAP Cap Rate of 9.9% and a Cash Cap Rate of 7.9% Transaction to Complete ARCP’s $3.0 Billion Acquisition Target for 2014 Well-Ahead of Schedule

 

NEW YORK, May 16, 2014, American Realty Capital Properties, Inc. (NASDAQ: ARCP) (“ARCP” or the “Company”) announced today its entry into an approximate $1.5 billion sale-leaseback transaction for over 500 Red Lobster restaurant properties. This transaction will be consummated in conjunction with Golden Gate Capital’s (“GGC”) acquisition of Red Lobster from Darden Restaurants, Inc. Red Lobster is the leading operator of seafood restaurants, with high-quality real estate located at main intersections in strong markets.

The transaction’s purchase price represents a GAAP cap rate of 9.9% and a cash cap rate of 7.9%. Approximately 93.5% of the $1.5 billion portfolio’s leases will be structured with a 25-year initial term and approximately 6.5% (constituting leasehold assets) will have a weighted average 18.7-year initial term. The portfolio master leases will also include 2% annual contractual rent escalations, providing built-in income growth. Through executing this transaction, ARCP will achieve its 2014 $3.0 billion acquisition target well-ahead of schedule.

Nicholas S. Schorsch, Chief Executive Officer and Executive Chairman of ARCP, said, “This transaction further demonstrates our team’s ability to execute on our investment strategy. As corporate America continues to sell its owned real estate, our team has shown its strength in seizing these opportunities, evidenced by this deal, and due largely to our inherent advantage as the largest net lease REIT.”

David S. Kay, President of ARCP, added, “As we have continued to discuss, our ability to transact large-scale sale-leaseback transactions like the Red Lobster transaction, demonstrates our competitive advantage in the marketplace. With strong financial metrics, built-in 2% annual rent growth and long-term lease commitments, this acquisition affords shareholders value and supports our future earnings growth. When consummated, the Red Lobster transaction will allow us to achieve the high end of our acquisition guidance which we set at $3.0 billion for the entire year of 2014. We previously promised acquisitions at cap rates north of 8% and have done so this year in small self-originated transactions; now, we have duplicated that effort on a large scale.”

Lisa E. Beeson, Chief Operating Officer of ARCP, commented, “The Red Lobster acquisition was made possible by the combined efforts of our restaurant and retail divisions. Both teams diligenced and underwrote this transaction in a thorough and thoughtful manner, all while doing so quickly and efficiently, ensuring that we secured this large-scale deal in a competitive process. Those efforts also afford long-term flexibility through an acquisition structure highlighted by multiple homogeneous lease pools, supported by the protection of master leases. Further, we are excited by the partnership created with GGC in acquiring Red Lobster, an iconic restaurant operator. GGC is a San Francisco-based private investment firm with $12 billion of AUM and remains one of the most active investors in multi-unit consumer companies and casual dining restaurants, having acquired leading brands such as California Pizza Kitchen, Payless ShoeSource and Eddie Bauer.”

“We are excited to be partnering with ARCP, a leading real estate operator, on this compelling transaction,” said Josh Cohen, Managing Director at GGC.  “This deal represents our fourth transaction with ARCP and we look forward to continuing to work collaboratively with them going forward.”

The purchase agreements relating to the Red Lobster transaction contain customary representations and warranties by the sellers. The Company’s obligation to close the transactions contemplated by the purchase agreements remains subject to a number of conditions, including the consummation of GGC’s purchase of Red Lobster.

About the Company ARCP is a self-managed publicly traded Maryland corporation listed on The NASDAQ Global Select Market, focused on acquiring and owning single tenant freestanding commercial properties subject to net leases with high credit quality tenants. Additional information about ARCP can be found on its website at www.arcpreit.com. ARCP may disseminate important information regarding it and its operations, including financial information, through social media platforms such as Twitter, Facebook and LinkedIn.

Forward-Looking Statements Information set forth herein (including information included or incorporated by reference herein) may contain “forward‑looking statements” (as defined in Section 21E of the Securities Exchange Act of 1934, as amended), which reflect ARCP’s expectations regarding future events. The forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those contained in the forward-looking statements. Such forward-looking statements include, but are not limited to, the Company’s plans, market and other expectations, objectives, intentions, and other statements that are not historical facts, and the Company’s ability to consummate the Red Lobster transaction as currently structured, including the number of properties expected to be acquired and the total investment therein, and realize the benefits therefrom, including challenges faced by the parties with whom we have contracted to consummate the Red Lobster transaction. Additional factors that may affect future results are contained in ARCP’s filings with the SEC, which are available at the SEC’s website at www.sec.gov. ARCP disclaims any obligation to update and revise statements contained in these materials based on new information or otherwise.

SOURCE:

American Realty Capital Properties, Inc. http://www.arcpreit.com

 

Transamerica Retirement Solutions Today Honored Financial Educators of the Year

Inaugural awards ceremony recognized outstanding financial advisors who help increase financial literacy for their communities and clients

HARRISON, New York, April 25, 2014, Transamerica Retirement Solutions today recognized two financial advisors with its inaugural Transamerica Financial Educators Award.  The awards ceremony took place during Transamerica’s second annual Retirement Readiness Summit (April 23-25) and coincides with National Financial Educators Day on April 25.

The awards acknowledged the work of two financial advisors whose efforts to improve financial literacy have positively impacted their communities and clients – Tom Hoffman with Lincoln Investment Planning, Inc. and Jania Stout with the Fiduciary Consulting Group at PSA.

Mr. Hoffman received the Transamerica Financial Educators Award for community education for his outstanding educational outreach to high school students in Massachusetts. Through his successful, community-based financial education program, local high school students have learned real-world financial management skills such as how to create a budget and manage financial events like unforeseen health expenses.

Ms. Stout received the Transamerica Financial Educators Award for employee engagement for her unique educational program for retirement plan participants. To address the challenge of low retirement savings rates among U.S. workers, Ms. Stout developed the Retirement HERO Program to provide an easy-to-understand method of saving for retirement. Ms. Stout’s four-step program encourages workers to have a budget, eliminate debt, know their retirement number, and own their plan.

A special Financial Education Leadership Award was also presented by the National Financial Educators Council to Deb Rubin, senior vice president of TPA and specialist advisor distribution for Transamerica Retirement Solutions, for her leadership and dedication to improving retirement outcomes for American workers.

“Financial education is an integral part of any effort to help American workers achieve a secure retirement. Transamerica is proud to recognize the winners of the Transamerica Financial Educators Award for their efforts to increase financial literacy in their communities,” said Stig Nybo, president of pension sales and distribution for Transamerica Retirement Solutions. “We’re especially proud of Transamerica’s Deb Rubin. She is passionate about improving financial security and her work to promote the importance of financial education will help create better retirement outcomes for many Americans.”

Transamerica is currently accepting nominations for the 2015 Transamerica Financial Educators Award.  To submit a nomination, apply online at trsretire.com.

About Transamerica Retirement Solutions

Transamerica Retirement Solutions (Transamerica) is a leading provider of customized retirement plan solutions for small to large organizations.

Transamerica partners with financial advisors, third party administrators, and consultants to cover the entire spectrum of defined benefit and defined contribution plans, including: 401(k) and 403(b) (Traditional and Roth); 457; profit sharing; money purchase; cash balance; Taft-Hartley; multiple employer plans; nonqualified deferred compensation; and rollover and Roth IRAs.

Transamerica helps more than three million retirement plan participants save and invest wisely to secure their retirement dreams. For more information about Transamerica Retirement Solutions Corporation, please visit trsretire.com.

About The National Financial Educators Council

The National Financial Educators Council is a personal finance company dedicated to creating a world where people are informed to make qualified financial decisions that improve their lives, the lives of their loved ones, and the lives of people they impact around the globe. The NFEC promotes advocacy campaigns, sets standards, conducts research and shares best practices that further the financial literacy movement.  Learn more at FinancialEducatorsCouncil.org.

Transamerica Retirement Solutions Corporation is not affiliated with the National Financial Educators Council.

15378-PR  (4/14)

Media inquiries

Hank Williams Phone: +1-319-355-7789 Email: hank.williams@transamerica.com

Julie Quinlan Phone: +1-213-742-5134 Email: julie.quinlan@transamerica.com

 

SOURCE:

Aegon N.V.

 

The following is a review from Kirkus Reviews of The Most Important Lessons in Economics and Finance Book by Dr. Anthony M. Criniti IV.  Please feel free to add a review of this book also.

“Criniti (The Necessity of Finance, 2013) interprets the key concepts underlying economic and financial behavior, with an emphasis on personal finance.

Criniti makes frequent references to his previous book as he guides the reader through 218 principles of economics and finance that he finds to be both essential and universally applicable. His claim that “around the 1950s it became formally necessary to create finance, the science of managing wealth for an individual, a group, or an organization” may raise the eyebrows of readers familiar with a longer span of history, but it does allow readers to understand what exactly the author means by “finance.” Most of the principles identified in the book relate to matters of personal finance—spending, saving, retirement—and business operations. Some of the principles Criniti explores are reasonable if somewhat simplistic guidelines: “Always keeping your promises can help you to keep your good reputation.” and “Only give gifts that you can afford to give.” Others require greater leaps of logic or adherence to a profit-driven worldview: “Economic cycles are naturally required wealth adjustments by economic entities.”; “Some people will do anything to deprive you of your wealth.” Some principles merit two pages of explanation, while others are dispatched in a paragraph or two; the explanations are derived more from the author’s understanding of his principles than from empirical evidence or analysis. The principle that “Wealth is attracted to cities,” for instance, is supported by no data, merely the claim that “In general, you will find your greatest opportunities to build wealth in cities versus suburbia or the country.” Although the title suggests an introductory economics course, the readers who will find the greatest value here are those in search of a more philosophical companion for their personal finance handbooks.

A guide to the fundamental principles of building and maintaining personal wealth, relying more on the author’s instinct than on quantitative data.”

- Kirkus Reviews

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