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The Daily Brief: Halloween Money Tricks

Bloomberg Businessweek broke down the National Retail Federation's data on how much American consumers spend on Halloween. Most frightening? The $67.7 billion total spent over the past decade.


And Tips

Halloween is just one more opportunity to find everyday money lessons. did much of the heavy lifting, putting together a list of classic Halloween movies that have hidden personal financial lessons, including such gems as The Blair Witch Project, Children of the Corn and The Shining. The most obvious lesson? Maximize your travel savings by staying away from hotels and motels if possible. 

FATCA on Steroids

More than 50 countries have signed on to share an expansive amount of information regarding taxes, off-shore accounts, account balances and ownership, taking FATCA, U.S. tax law that requires foreign banks to reveal Americans with accounts of more than $50,000, to a whole new level. Most European Union nations, as well as tax havens like Bermuda and the Cayman Islands, have signed on, while the U.S. and Canada have not yet to this point.

More Capital for Personal Capital

Digital wealth management firm Personal Capital has received $50 million in venture capital funding from Corsair Capital, BBVA Ventures and USAA. Personal Capital, which uses personal finance apps to manage more than $100 billion for 600,000 customers, focuses on households with complex finances. "This infusion will help accelerate our already-rapid growth – we’ve seen revenue increases of 10% or more each month for the past seven quarters," Personal Capital CEO Bill Harris said.


Bonus Bump

Asset managers for mutual funds and investment firms can expect an increase in their 2014 bonuses to just 6 percent less than they were in 2007, before the financial crisis hit, according to a study by consulting firm Greenwich Associates. The study stated that equity managers are slated to make $570,000 in 2014, compared to $350,000 for fixed-income managers. The news is particularly bad for hedge fund managers, whose bonuses still lag 35 percent behind pre-crisis peaks.

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