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One thing that can help stop the savings crisis in America

first_imgThe savings crisis is not waving the little white flag anytime soon. Americans face a barrage of financial obstacles in today’s economy: stagnant wages, low interest rates, and a painful absence of financial literacy. The situation is so dire many Americans believe they won’t ever be able to leave the workforce. They survive paycheck to paycheck. However, all hope is not lost. One simple maneuver is helping millions of working Americans save for their futures.In a perfect world, parents and the education system would teach personal finance to every boy and girl. Our children would grow up being taught good savings habits, applying those lessons throughout life to improve their financial situations. Unfortunately, reality is quite different. Many parents are afraid to talk about money, and while some schools are now teaching personal finance, bureaucracy hinders a more national impact. As a result, we’re left with a country filled of financial illiterates — where nearly half of Americans save virtually nothing.What’s the solution? Make saving money the default decision. When faced with a choice on a seemingly complex subject such as money, many individuals often take the default or “no decision” choice. In the case of voluntary savings plans, which requires participants to take action in order to save money, the “no decision” choice is a decision not to save. 401(k) plans are the most popular example. One quarter of employees don’t even save enough to receive the employer match, missing out on $24 billion of practically free money every year. continue reading » 27SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Black Stars captain Andre Ayew congratulates new GFA President Kurt Okraku

first_imgBlack Stars captain, Andre Ayew, has congratulated the newly-elected President of the Ghana Football Association.In a brief tweet, Andre Ayew said: “Congratulations to our new GFA president Mr Kurt Okraku”Dreams FC Chief Executive Officer (CEO), Kurt Okraku, has been elected the new President of the Ghana Football Association (GFA).Mr Okraku fills the spot vacated by former GFA President Kwesi Nyantakyi who resigned in 2018 following damning revelations against him in an exposé by investigative journalist Anas Aremeyaw Anas.Okraku led the way after the first round of voting and was a vote away from becoming the new President of the Association after the second round.He polled 59 votes representing 50% of votes cast with candidates needing at least 60 votes to win.George Afriyie, who polled 40 votes in the first round improved to 43 votes but was still well behind Kurt Okraku.Nana Yaw Amponsah saw his tally slashed from 27 in the first round to 16  in the second.However, as delegates were voting in the third round, George Afriyie conceded, saying he was “a unifier and a team player who works for football.”In the third round, Okraku was endorsed by 93 delegates.Kurt Okraku thus becomes the 7th GFA President since 1992 and the 24th in the Association’s history.Amanda Clinton and George Ankomah both dropped out in the first round with 0 votes.Fred Pappoe also opted to pull out after polling six votes.Kurt Okraku has also received congratulatory messages from the president, Nana Addo Dankwah Akufo-Addo, Parliament’s Minority and football’s world governing body, FIFA.He will now serve a maximum of two four-year terms in office following the adoption of the new statutes GFA at September’s Extraordinary CongressThe statutes were approved with an almost unanimous endorsement from the delegates. What are Kurt’s plans?In his manifesto, dubbed “Game Changer”, Kurt Okraku stated that he intended to work toward changing the fortunes of Ghana football and giving it a new lease of life.The manifesto was premised on four key areas or principles:Transparency, Accountability and Annual Audit;Gender and Equity;Good Corporate Governance;Professionalism, Innovation and Investmentlast_img read more