The Daily Brief: A Debt Owed to the Cowboys

The Daily Brief: A Debt Owed to the Cowboys

Copyright Christian Petersen, Getty Images

A Debt Owed to the Cowboys

The Dallas Cowboys is suing financial advisor Dawn Bennett over claims that she hasn’t paid $500,000 for a luxury suite she leased, according to WFAA.com. The team is seeking $7.3 million in damages. Bennett runs Bennett Group Financial Services in Washington, D.C. and has a syndicated radio show, “Financial Myth Busting.” A spokesman for Bennett told WealthManagement.com "that the Dallas Cowboys are putting together a retraction and the suit should never have been filed.” (Full Disclosure: REP. named Bennett one of its Rookies of the Year in 1989, and she has been a frequent contributor to WealthManagament.com in the past.)

Copyright Spencer Platt, Getty Images

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Sharing the Blame

New research from State Street’s Center for Applied Research suggests that financial advisors and clients are both to blame for not investing properly for retirement. The investments that clients want, and the ones that advisors promise, are incredibly rare. The researchers suggested that both advisors and clients need to document past choices to eliminate hindsight bias, encourage feedback, reduce portfolio complexity by limiting choices, and create investment rules that mandate buying, sizing and selling decisions. 

Teaching Them Early

How important is it to start saving money early for the future? So important that a Macon, Ga., financial advisor gave a talk to eighth graders about the importance of saving now. "The sooner you start saving, the better off you are down the road. That's either just savings accounts or your retirement, and obviously if you can get some good principles now, you won't be a train wreck in your 20s and 30s," Terry Parker told the class of teenagers.

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