KeatsConnelly Cross-Border Weekly Best of the Web 2016-7-22

web-search-greyEvery week we share news stories, blog articles and other interesting stuff from around the web that received the most views, shares, comments and overall interest on various KeatsConnelly social media outlets.

This week’s articles offer an eclectic mix of financial articles beginning with an interesting piece covering thinking behind why people struggle to save money, the second article a review into perceived versus actual investment fees paid in Canada, and wrapping up with a bit on foreign home buying in the United States.

The Two Biases That Keep People From Saving Money (www.theatlantic.com) That Americans don’t save enough money is a truism. But why don’t they? The answer is a complex mix of macroeconomics (incomes have stagnated for many workers over the last few decades), culture (Americans are notoriously conspicuous spenders), and policies (two-thirds of workers are at companies without retirement plans). But another variable is the challenge of giving up the gratification of immediate spending for the security of future savings. A new paper finds that two biases prop up many people’s disinclination to save: “present bias” and “exponential-growth bias…

Personal Investor: Why Canadians are in the dark on investment fees (www.bnn.ca) – ANALYSIS: It seems new regulatory rules to make investment fees more transparent couldn’t have come at a better time. A new survey from Tangerine finds 83 per cent of respondents have no idea the changes come into effect starting this month. It also reveals 36 per cent of respondents claim they don’t pay any fees. Of those who work with advisors, 24 per cent claim they don’t pay for that advice. Of course, we pay investment fees. In fact, Canadians pay the highest investment fees in the developed world. The industry has probably gotten away with it so long because they are so proficient at hiding them…

Is a foreign buyer in your home’s future? (www.bankrate.com) – Guess which country had the most foreign buyers of homes in the United States last year: Brazil, Canada, China, Mexico

Your guess is probably influenced by where you live. For example, living in South Florida, I totally would have guessed Brazil, because I overhear Brazilian Portuguese all the time up here in Palm Beach County, and Brazilians own a lot of houses down in Fort Lauderdale. But Brazil didn’t even make the top 5. I visited my hometown of Fort Worth, Texas, over the weekend, and then I would have guessed Mexico…

Come back next week for more interesting news and articles. Enjoy your weekend!

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