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What’s your financial IQ with Lanny

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What’s your financial IQ?

Provided By: Lanny Joseph Ribes, Northwestern Mutual Financial Network

Imagine you’re on a TV quiz show. The host turns to you and offers a list of topics, one

of which is Your Personal Finances. Based on your knowledge, is this a category you would

choose?

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If you answered no, you’re not alone. Four out of five Americans admit they know more

about a variety of topics than their own finances. That’s about the same share that would choose

to answer questions about subjects far less personal, such as current events, entertainment, or

science and technology.

These results were gathered as part of a research study, sponsored by Northwestern

Mutual, to help gauge the American public’s overall financial knowledge – as measured by a

financial IQ index – and its understanding of insurance products.

For me, the results were a powerful reminder of the reason I make it a point to help

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clients fully understand their personal finances, so they can make the informed choices that are

right for them.

The survey found that some basic financial concepts are well-understood, including the

best way to minimize losses in investments (88% answered correctly), asset allocation (79%),

and dollar-cost averaging (57%). Likely because of their self-explanatory names, high numbers

of Americans also recognize what disability income insurance and long-term care insurance are

designed to do.

More often than not, however, Americans fail to understand many key financial concepts

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– like the average inflation rate over the past decade (known by about one in three), or the

product that has traditionally mitigated inflation risk the best (less than one-third answered

correctly). The lack of financial knowledge appears to be particularly acute when it comes to

permanent life insurance, as only a small percentage of Americans seem to know even the basics

of this type of risk protection.

Knowledge is power, though – and Americans recognize it. Nearly eight out of ten

consumers feel the need to learn as much as possible about their personal financial situation. I’ve

certainly seen this to be true in my practice.

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As for where they find that information and whom they trust, I was glad to learn that,

when asked to rate the reliability of several sources of financial information, Americans rated

financial advisors as the most reliable source.

Are you curious what your financial IQ might be? Find out by completing an abbreviated

form of the survey “Financial Matters Quiz” at www.facebook.com/northwesternmutual .

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About the research

On behalf of Northwestern Mutual, independent research firm Mathew Greenwald &

Associates, Inc. conducted an online survey of 1,664 Americans ages 25 to 65, between June 1

and June 8, 2010. Study participants were members of Synovate’s leading Global Opinion Panel.

Survey data were weighted by gender, age, education, and household income to reflect the

makeup of the U.S. population ages 25 to 65. Population statistics were based on data from the

2008 Current Population Survey.

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# # #

Article prepared by Northwestern Mutual with the cooperation of Lanny Joseph Ribes.

Lanny Joseph Ribes is a Financial Representative with the Northwestern Mutual Financial Network based in Glen Carbon, IL for The Northwestern Mutual Life Insurance Company,

Milwaukee, Wisconsin. To contact Lanny Joseph Ribes, please call (618) 791-0471 or e-mail him at lanny.ribes@nmfn.com .

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Letters to the Editor

Letter: Time for Republicans to rally around President Donald Trump

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President Donald Trump will formally accept the Republican Party nomination for President at the Republican National Convention next week.

America is a country divided and by virtue of accepting the Republican Party’s nomination for president, half the country will embrace him while the other half will want nothing to do with him.

The divide between Democrats and Republicans is nothing new, but what is new is the use of lawfare to target political rivals. Here in Illinois, the moment President Trump and his delegates filed their paperwork to be on the ballot in the Land of Lincoln, a group of far-left radicals immediately filed an objection to the filing. The objection was an outlandish legal charge that President Trump was the instigator of the events on January 6th, 2021, and was therefore not eligible to be on the ballot.

In the end these bogus accusations went nowhere. Even legal experts who were no fans of the 45th President thought the objection was ridiculous. But this is the state of affairs in politics today. Instead of putting ideas on the ballot and campaigning on the merits of those ideas, the far-left radicals are weaponizing our courts and targeting people solely on the basis of political ideology.

Donald Trump is without a doubt the most famous person in the world and like all famous people, he has his fans as well as his detractors. He is not “literally Hitler” as the extremists on the left claim. He is not the enemy of Democracy. He is a candidate for office like any other candidate. His ideas of a strong border, a strong military, low taxes, reduced business regulations, trade deals that protect American interests and a desire to protect America’s interests abroad have been a part of the public discourse for a long time. The notion that these ideas are an “assault on our Democracy” is just nonsense.

President Trump was leading in the majority of the battleground states long before the country saw Joe Biden’s decline in real time during the recent Presidential debate. And the reason he was leading in the polls is because Americans in growing numbers have rejected Joe Biden’s failed policies. The fact that Joe Biden has demonstrated his complete inability to serve has only served to give President Trump even more momentum than he already had ahead of the Republican National Convention.

It is time for our party to rally around our nominee. We cannot afford to continue Biden’s open border policies that are crippling our cities. We need a President who is strong on crime and who will work with state and local governments to keep our communities safe. We need a leader who will put an end to the inflation hurting so many families. I hear all of the time from constituents who are overwhelmed by the price of food and other household necessities. The current Administration won’t fix a problem and in fact they won’t even acknowledge the problem exists.

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I call on everyone who may have voted for someone other than Donald Trump to watch the Convention and rally around our nominee. So-called “Republicans” like Adam Kinzinger who have done the unthinkable and endorsed Joe Biden are not only embarrassing themselves, but they are contributing to our nation’s decline.

We cannot afford another four years of the Green New Scam, the open border policies and the weaponization of the justice department to target political opponents. Joe Biden ran to heal our country and all he has done is fracture us even more. It is time to put America first and Donald Trump will do just that. It is time for Republicans, Independents, Libertarians, and moderate Democrats to rally around President Trump and Make America Great Again!

State Representative Adam Niemerg

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Letters to the Editor

Letter: Domestic violence is prevalent in Macoupin County

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Dear Editor,

Domestic Violence within Macoupin County is prevalent. It is destructive and can be both physical and psychological. It can affect anyone of any age, gender, race, or sexual orientation. It may include behaviors meant to scare, physically harm, or control a partner. While every relationship is different – domestic violence generally involves an unequal power dynamic in which one partner tries to assert control over the other in a variety of ways. The following statistics are all according to the National Coalition Against Domestic Violence.

We can see domestic violence inside the home: through the use and control of household pets. In one study, 85% of survivors who experienced co-occurring animal abuse reported that the behavior of their pets had changed. An even higher percentage of survivors who reported partners had harmed or killed their pet, have also reported their partner for domestic violence. We can also see an increase usage of firearms within the intimate partner violence home. A survey of contacts by the National Domestic Violence Hotline found (of those with access to firearms):  

  • 10% said their abusers had fired a gun during an argument.  
  • 67% believed their abusers were capable of killing them. 

We can see domestic violence inside our schools: as partner violence is not exclusive to the home. There are many instances of violence between dating partners that begin in high school. Nearly 1.5 million high school students in the United States are physically abused by dating partners every year. Within those relationships, 13.4% of male high school students report being physically or sexually abused by a dating partner.  

We can see domestic violence inside our community: Macoupin County provides a specific set of needs for those victims and survivors of domestic violence. There are several complex concerns within a violent relationship that come to light once action has been taken. Safe Families sees a few main re-occurring concerns within the county:  

  • Survivors have fewer financial resources, making them more financially dependent on an abusive partner.  
  • The lack of rental units or other affordable housing options makes it more difficult for survivors to leave spouses or co-habiting abusers.  

The Macoupin County Safe Families program provides support for residents as they journey the emotional endeavors to leave behind domestic violence. As a contributor to that experience, we will be hosting a Domestic Violence Awareness Walk on October 7th on the Carlinville Square. An event shirt will be included with a ticket sale. The online tickets will close 09/29 at 5pm. Tickets will be sold at 9am day-of event at the Safe Families booth. More information about the Awareness Walk can be found on our website at mcphd@mcphd.net. We urge Macoupin County residents to join us and rally against domestic violence together.  

Juliet Wooldridge and Lilly Booth

Domestic Violence Advocate Coordinators
Community Health Worker
Macoupin County Safe Families

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Letters to the Editor

Letter: National Health Center Week is week of August 6

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Dear Editor,

Community Health Centers are the backbone of our nation’s primary health care system. We design innovative, integrated primary care based on what services communities need most — ensuring access to affordable, quality healthcare for over 30 million people. In addition to creating jobs and saving lives, collectively we save American taxpayers $24 billion a year in health care costs by preventing and managing chronic diseases.

Community Health Centers are not ordinary medical clinics; we are also problem-solvers who reach beyond the exam room to care for the whole person by providing access to necessities like food, transportation, and housing. Community Health Centers care for everyone, regardless of insurance status. Nationwide during hurricanes, floods, and fires, and locally during the pandemic, Community Health Centers are first on the scene and are vital to keeping America healthy.

The 2023 theme of National Health Center Week is ‘The Roadmap to a Stronger America.’ Community Health Centers serve as the beacon of strength, service, and care in their communities. In moments of pain and loss, we offer support and love. In moments of triumph, we offer hope and a vision for the future. This year’s National Health Center Week theme takes us on a virtual road trip across America, highlighting the achievements and amazing work being done at Community Health Centers in every state and territory. Celebrate the uniqueness of our community and get to know others as we journey across the U.S. together!

Each day of National Health Center Week is dedicated to a particular focus area. We will be working with community partners to recognize and celebrate each of the following focus groups in our community.

As part of National Health Center Week 2023, we invite you to support Macoupin Community Health Centers, Inc. to celebrate our mission and accomplishments.

Christy Blank
CEO/Public Health Administrator
Macoupin Community Health Centers, Inc.
Macoupin County Public Health Department

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