WBEZ | Harold Pollack http://www.wbez.org/tags/harold-pollack Latest from WBEZ Chicago Public Radio en Can The Best Financial Tips Fit On An Index Card? http://www.wbez.org/news/culture/can-best-financial-tips-fit-index-card-114490 <img typeof="foaf:Image" src="http://llnw.wbez.org//main-images/index_0.jpg" alt="" /><p><div id="res462287935" previewtitle="Harold Pollack's index card of finance tips."><div data-crop-type="" style="text-align: center;"><img alt="Harold Pollack's index card of finance tips." src="http://media.npr.org/assets/img/2016/01/07/index-67f786d0f1fbbf302d422c5bf30dd1624f991dac-s1600-c85.jpg" style="height: 465px; width: 620px;" title="Harold Pollack's index card of finance tips." /></div><div><p>A couple of years ago, University of Chicago professor&nbsp;<a href="http://www.samefacts.com/2013/04/everything-else/talking-personal-finance-with-helaine-olen-parts-1-and-2/" target="_blank">Harold Pollack did an online video chat</a>&nbsp;with personal finance writer Helaine Olen. The topic was how regular people get steered into bad investments by financial advisers.</p></div></div><p>Pollack said that the best personal finance advice &quot;can fit on a 3-by-5 index card, and is available for free in the library &mdash; so if you&#39;re paying someone for advice, almost by definition, you&#39;re probably getting the wrong advice, because the correct advice is so straightforward.&quot;</p><div id="res462288801"><div><p><em><strong><a href="http://n.pr/yourmoney">Join NPR&#39;s Your Money And Your Life Facebook group</a>&nbsp;for more personal finance know-how.</strong></em></p></div></div><div id="res462278385" previewtitle="Harold Pollack wrote personal finance advice on an index card. Now he's written a book about it."><div><div><p style="text-align: center;"><img alt="The Index Card" src="http://media.npr.org/assets/bakertaylor/covers/t/the-index-card/9781591847687_custom-eb6cc111b501487e67877e6fab3619e41d7dfa33-s700-c85.jpg" style="height: 439px; width: 310px;" title="Cover, The Index Card: Why Personal Finance Doesn't Have to Be Complicated, by Helaine Olen and Harold Pollack" /></p></div></div></div><div id="con462250965" previewtitle="Book Edition Information"><div id="res462250752"><p>After they posted the video, the emails started pouring in &mdash; people wanted to know, where could they get this index card? What was this fantastic yet simple advice for managing their money?</p></div></div><p>&quot;Since I was speaking metaphorically, I was kind of stuck,&quot; Pollack says. &quot;But I just took one of my daughter&#39;s index cards and I scribbled a bunch of principles, and&nbsp;<a href="http://www.samefacts.com/2013/04/everything-else/advice-to-alex-m/" target="_blank">I took a picture with my iPhone and I posted it on the Web</a>.&quot;</p><p>The index card got into Google&#39;s news results.&nbsp;<a href="https://www.washingtonpost.com/news/wonk/wp/2013/09/16/this-4x6-index-card-has-all-the-financial-advice-youll-ever-need/" target="_blank">It got into big newspapers</a>. Famous economists tweeted about it. Self-help sites like Lifehacker mentioned it.</p><p><img alt="Harold Pollack wrote personal finance advice on an index card. Now he's written a book about it." src="http://media.npr.org/assets/img/2016/01/07/pollack_vert-b154c4c8430330223057a7e03dc9695066d77995-s700-c85.jpg" style="height: 387px; width: 290px; margin-left: 10px; margin-right: 10px; float: right;" title="Harold Pollack wrote personal finance advice on an index card. Now he's written a book about it. (Credit: Kyle Zimmerman)" /></p><p>In short, it went viral.</p><p>The ideas on the index card weren&#39;t new &mdash; pay off your credit cards, invest in low-fee index funds, etc. &mdash; but there clearly was an appetite for this simple, good financial advice.</p><p>So Pollack and Olen have now written a book (The Index Card) about it. Which &mdash; if the whole point is that this stuff is so simple you can fit it on an index card &mdash; might seem counterintuitive.</p><p>&quot;Well, I would just say that, why do we need an entire Bible really? We have the Ten Commandments and the Sermon on the Mount,&quot; Pollack says &mdash; adding that he does not mean to elevate his work to the level of scripture.</p><div id="res462374568" previewtitle="Personal finance writer Helaine Olen."><div><div><p>The point is, sometimes you need more than the basics.</p></div></div></div><p>&quot;We all know, for example, in tennis, how do you win a tennis match?&quot; Pollack says. &quot;You hit the ball low. I could tell you that, but I haven&#39;t told you&nbsp;how&nbsp;to do that.&quot;</p><p>And this actually gets at what many economists say is the reality with financial advice: Most of it is pretty simple. The rules on Pollack&#39;s index card start with saving 10 to 20 percent of your income, maxing out your 401(k), not buying or selling individual stocks.</p><p><img alt="Personal finance writer Helaine Olen." src="http://media.npr.org/assets/img/2016/01/08/olen_vert-f8e9355a053eb4374a732874d5fda9ddbb676086-s700-c85.jpg" style="height: 387px; width: 290px; margin-left: 10px; margin-right: 10px; float: right;" title="Personal finance writer Helaine Olen. (Credit: Willy Soma)" /></p><p>But there also are more subtle points of advice &mdash; including whom you should bring on to help advise you.</p><p>&quot;I&#39;m struck by the number of my friends and relatives who believe that their financial adviser is free, and say things &mdash; &#39;Oh, the funds pay for that,&#39; &quot; Pollack says. &quot;I don&#39;t know about you, but I generally don&#39;t work for free. So you want to understand, how is this person being paid?&quot;</p><p>Rule No. 6 on the index card is to make your financial adviser commit to the&nbsp;<a href="http://www.bankrate.com/finance/investing/fiduciary-standard-1.aspx" target="_blank">Fiduciary Standard</a>&nbsp;&mdash; meaning that your interests come first.</p><p>But the regulations around that can be mushy. Some economists say an easier approach is to use what&#39;s called a &quot;fee-only&quot; adviser, who can&#39;t take commissions for steering you into overpriced mutual funds. If you have an adviser, Pollack and Olen say you need to talk about this stuff.</p><p>&quot;It shouldn&#39;t be awkward &mdash; if it&#39;s awkward, there&#39;s already a problem,&quot; Olen says. &quot;If somebody is making you feel guilty for asking questions, you shouldn&#39;t be there &mdash; period, full stop &mdash; no matter what standard they&#39;re working to.&quot;</p><p>That said, both Pollack and Olen say a good, reasonably priced financial adviser can sometimes be helpful &mdash; especially when life gets too complicated to fit on an index card.</p><p>&mdash;<a href="http://www.npr.org/sections/alltechconsidered/2016/01/08/462250239/when-an-index-card-of-financial-tips-isnt-enough-this-book-is-there?ft=nprml&amp;f=462250239" target="_blank"><em> via NPR</em></a></p></p> Sun, 10 Jan 2016 16:38:00 -0600 http://www.wbez.org/news/culture/can-best-financial-tips-fit-index-card-114490 The First 100: Police and public safety under Mayor Emanuel http://www.wbez.org/episode-segments/2011-07-21/first-100-police-and-public-safety-under-mayor-emanuel-89451 <img typeof="foaf:Image" src="http://llnw.wbez.org//segment/photo/2011-July/2011-07-21/4413740722_590c0ea17a_b.jpg" alt="" /><p><p>As the temperatures rise, so does crime--it's a somewhat predictable summer story. Mayor Emanuel responded by putting more cops on the streets; the move is supported by Chicago Police Superintendent Garry McCarthy but it may not be the answer for all Chicagoans. As part of <em>The First 100</em> series,<em> Eight Forty-Eight</em> was joined by Ald.<a href="http://www.cityofchicago.org/city/en/about/wards/20/alderman_willie_cochranbiography.html" target="_blank"> Willie Cochran</a> of the 20th ward and vice chair of the Chicago City Council’s Committee on Public Safety and Professor <a href="http://www.ssa.uchicago.edu/faculty/h-pollack.shtml" target="_blank">Harold Pollack</a>, co-director of <a href="http://crimelab.uchicago.edu/" target="_blank">The University of Chicago Crime Lab</a>, to take a look at the new administration’s public safety and policing policies.</p><p><em>Music Button: Boy + Kite, "Deciphering Static," from the release Go Fly</em></p></p> Thu, 21 Jul 2011 13:50:00 -0500 http://www.wbez.org/episode-segments/2011-07-21/first-100-police-and-public-safety-under-mayor-emanuel-89451 The State of the State: Gov. Quinn proposes $8.7 billion in borrowing http://www.wbez.org/episode-segments/2011-02-17/state-state-gov-quinn-proposes-87-billion-borrowing-82466 <img typeof="foaf:Image" src="http://llnw.wbez.org//Quinn State of State Seth Perlman AP.jpg" alt="" /><p><p>Gov. Pat Quinn delivered his annual State of the State address Wednesday. As he gave a brief run-through of his <a target="_blank" href="http://www2.illinois.gov/budget/Pages/default.aspx">new budget</a> Quinn tried to paint an optimistic future for the Prairie State. That&rsquo;s no easy task. <a target="_blank" href="http://www.forbes.com/2010/01/20/united-states-debt-10-business-wall-street-united-states-debt.html"><em> Forbes </em>magazine<em> </em></a>recently called Illinois the state with the worst debt scenario in America. No surprise - Quinn&rsquo;s message was clear: Illinois must get its financial house in order. Will the Governor&rsquo;s stern warning jolt the General Assembly?</p><p>To help sort through some of the budget highlights <em>Eight Forty-Eight</em> spoke to policy expert <a target="_blank" href="http://www.ssa.uchicago.edu/faculty/h-pollack.shtml">Harold Pollack</a>. Professor Pollack is the Hellen Ross Professor at the School of Social Service Administration at the University of Chicago. He&rsquo;s also the faculty chair at the <a target="_blank" href="http://www.ssa.uchicago.edu/chas/home.shtml">Center for Health and Administration Studies</a>.</p></p> Thu, 17 Feb 2011 15:29:00 -0600 http://www.wbez.org/episode-segments/2011-02-17/state-state-gov-quinn-proposes-87-billion-borrowing-82466 Mayor Monday: The future of public health in Chicago http://www.wbez.org/episode-segments/mayor-monday-future-public-health-chicago <img typeof="foaf:Image" src="http://llnw.wbez.org//pills.jpg" alt="" /><p><p>As part of &quot;Eight Forty-Eight's&quot; new<em> Mayor Mondays </em>series, the show will look back at the way Mayor Richard M. Daley&rsquo;s tenure has affected certain aspects of city life and explore the challenges that the next mayor will face. The list of health issues facing Chicagoans is long and varied: childhood obesity, substance abuse, and limited access to health and mental health services. That Illinois, Cook County and Chicago all face overwhelming budget crises only makes things worse. For a long time reforming our health care system was the third rail of national politics.</p><p>That changed under President Obama, but the measures known as the <a href="http://www.healthcare.gov/law/introduction/index.html" target="_blank">Affordable Care Act </a>won&rsquo;t get fully underway until 2015.</p><p>And that leaves political players wondering what now?</p><p><a href="http://www.ssa.uchicago.edu/faculty/h-pollack.shtml" target="_blank">Harold Pollack</a> helped &quot;Eight Forty-Eight&quot; take the pulse of public health in Chicago. He&rsquo;s the faculty chair at the <a href="http://www.ssa.uchicago.edu/chas/home.shtml" target="_blank">Center for Health Administration Studies</a> at the University of Chicago.</p><p><em>Music Button: Lord Newborn &amp; the Magic Skulls, &quot;Disco Loco&quot;, from the CD Lord Newborn &amp; the Magic Skulls, (Ubiquity) </em></p><p>&nbsp;</p></p> Mon, 29 Nov 2010 14:40:00 -0600 http://www.wbez.org/episode-segments/mayor-monday-future-public-health-chicago