Month: October 2025

Is she still a billionaire?

She’ll be missed.

What thought immediately comes to your mind when you read this question? Maybe it’s – “Are you kidding, I don’t have a clue!” Maybe it’s – “My plan may need some tweaks, but I am confident I’ll be fine.” Perhaps you are one of those people who believe in living day to day, and the future will take care of itself.

Does the question make you anxious perhaps even fearful? You are not alone!

A Basic Financial Literacy Assessment

Let’s start with some financial basics. Over 20 years ago, a quick, three question financial literacy assessment was developed by two college professors, Lusardi and Mitchell. The assessment has become the standard for measuring financial literacy in the United States and is used in many other countries as well. See how you do. The answers are at the end of this article, but please do not cheat. This is one of those times that you need to be brutally honest with yourself.

1. Suppose you had $100 in a savings account, and the interest rate was 2% per year. After five years, how much do you think you would have in the account if you left the money to grow?

A. More than $102

B. Exactly $102

C. Less than $102

D. Do not know; refuse to answer

2. Imagine that the interest rate on your savings account was 1% per year and inflation was 2% per year. After one year, how much would you be able to buy with the money in this account?

A. More than today

B. Exactly the same

C. Less than today

D. Do not know; refuse to answer

3. Please tell me whether this statement is true or false: “Buying a single company’s stock usually provides a safer return than a stock mutual fund.”

A. True

B. False

C. Do not know; refuse to answer

What the Test Means

The concepts described in the above questions are compound interest, inflation, and risk diversification, in that order. (If you want to learn more about each of the above concepts, watch for my upcoming blog.)

It may comfort you that only 43% of Americans who were surveyed answered all three questions correctly – 29% of women and 43% of men. Women were much more likely than men to respond that they do not know the answer to at least one of the questions, particularly the last question on risk diversification.

Education level played a role, too. The percentage of responders with perfect scores with a college degree – 65%; some college education – 38%; and high school diploma – 29%. However, more than a third of those with college degrees did not answer one or more questions.

Among age groups, as could be expected, younger responders scored the lowest. One-third of those ages 18-29 answered all three questions correctly. Financial literacy peaks in ages 50-59 with about half answering correctly but drops again – to 44% among those age 70+.

Financial Literacy Help

We clearly have a long way to go to create basic financial literacy across our population, and in the world. So how does a person start? The language may seem foreign and even daunting. There are good resources, however, that start at a basic level in language you can understand.

If your employer offers a company retirement plan, the company or the plan representatives may offer classes or one-on-one sessions to explain the basics and answer questions. A local community college or university may offer outreach programs. Some likely topics are Retirement Planning or Basics of Investing. Look through a list of blogs on my website. I have written on many investment topics such as Learn the Language with a link to a short quiz, and focus on the basics.

With the holidays coming up, I created a Financial Literacy Gift Guide. Go to my website and send me a note to request your copy. Scroll to the bottom of the page. If you are a beginning investor, or if you have started investing but want to know if you are on the right track, look for my book: How to Dress a Naked Portfolio: A Tailored Introduction to Investing for Women. The book is full of understandable financial information to get you started, and it is packed with helpful resources. It is available on Amazon in paperback or eBook versions.

Assistance from a Fiduciary Financial Professional

Your money and financial health are important! This is not the time to let your ego get in the way of progress. If you are overwhelmed, seek the help of a financial advisor.The right advisor will not make you feel uncomfortable or stupid. He or she will encourage your questions and answer them in language that you understand. If they don’t, walk away and find someone else.

Please don’t seek investment advice from cousin Vinnie or Aunt Bea, or even your boss or coworker. Even if you think they are smart and know what they are doing, no one is exactly like you – your age, family status, income, expenses, goals, comfort with risk, etc. You are unique, and a professional will assess those factors and more. Plus, an advisor has a better perspective than someone who is emotionally attached to you.

If you want to make sure that the advisor has a mandate, both legal and ethical, to act in your best interest, seek a fiduciary. You can find an advisor who is a fiduciary, a CERTIFIED FINANCIAL PLANNER®, close to you at www.letsmakeaplan.org. (My blog, Should I Hire a Financial Advisor, has more on this topic.)

Answers: A, C, B.

Let’s Have a Conversation:

How did you do on the financial literacy quiz? How did you learn about financial terms and concepts? Have you had formal instruction in financial literacy?

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Photo: @madisonlecroy

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Originally posted at: Madison LeCroy’s Gold Sequin Flower Dress

Looking for a new job can feel like moving into unfamiliar territory. Some of us need to work, some of us want to work. But all of us bring decades of experience, perspective, and professionalism to the table. And yet, even with all that we’ve earned, the process can still leave many of us questioning our worth.

Employment experts say the job market is tough right now. Factors contributing to current conditions include slower hiring, increased competition, and cautiousness on the part of companies. What’s more, younger candidates may be eager to work for less to gain experience. Getting an interview or even just a real conversation can feel like a win in itself.

So, when such a dialogue does go well and you’re told there will be next steps, the silence that can ensue can be especially discouraging. It’s important to remember that ghosting isn’t when you apply for a position and never hear back. Unfortunately, as frustrating as that is, the non-response to applications has become a norm in today’s hiring journey.

True ghosting happens after a connection is made, when you’ve spoken, shared ideas, even started to picture yourself in the role… and then, suddenly, it’s as if the other side has vanished into thin air. Spooky, right?

When the Silence Becomes Personal

I’ve been there, too.

Not long ago, I found myself waiting for an email that never came. I’d been doing a little outreach and enjoyed a promising exchange with the head of staff at a company I admired. They’d started a new division that aligned with my expertise, and I was invigorated by the idea of collaborating with them. The woman I met with complimented me on my work, and we’d had what I felt was a warm and favorable discussion. At the end of our online meeting, I was told arrangements for an interview with the CEO would be forthcoming.

I sent a thank-you message, albeit a couple of days later, and followed up about two weeks after our conversation. Crickets. I reached out once more with a thoughtful value add and … nothing. Days stretched into weeks, and each time I refreshed my inbox, that little flicker of hope dimmed. The absence of a reply haunted me.

Finally, I called the person at the helm and left a voicemail. That was technically one follow-up more than I advise. But hey, I’m human. I had his number and really wanted the opportunity. Clearly, he told the person I’d spoken with to get back to me as I received an email from her within the hour: they’d “decided to go in a different direction.” It took less than a minute to pass that information on to me. But the evasion leading up to it? That left an impression that’ll last a very long time.

I’ll admit, being ghosted after an interview stings. You replay the conversation, wondering what you said wrong or didn’t say at all. I should have asked more questions, I thought to myself. Or maybe I should’ve circled back sooner or written a better thank-you. I even wondered if it was because of my age, though I hadn’t shared it. While that thought passed quickly, it reminded me how easy it is to internalize these things.

In time, I came to see not getting the opportunity as a gift – not because I received something, but because it revealed something. It spared me from working with people who viewed communication, the heart of my profession, as optional. Everyone gets busy, yes. But if someone you interviewed with chooses to do nothing over sending a simple, courteous response, please know that’s about them, not you.

And that’s the essence of ghosting. It rarely has anything to do with your value or talent; it’s about the other person’s discomfort, disorganization, or inability to close the loop with grace.

The Rise of Employer Ghosting

Initially, ghosting was a term used to describe what happens when someone you’re seeing romantically suddenly disappears without explanation or closure. But it’s no longer limited to the dating world. Ghosting has made its way into the workplace, and it’s alarmingly common.

According to Newsweek, which referenced a recent report on the topic, 48% of job seekers have been ghosted by an employer during the hiring process, often after one or more interviews. Another study revealed that as many as six in ten applicants never hear back after what they believe was a successful meeting.

Sometimes, the cause is structural: overworked hiring managers, slow in-house approvals, or even postings that never existed to begin with (also known as “ghost jobs”). Other times, it’s simply a lack of consideration, a cultural shift toward treating candidates like numbers rather than people.

What to Remember When You’ve Been Ghosted

If you have faced this phenomenon, take a deep breath and remember:

It’s Not Personal

Most often, ghosting reflects poor interaction or internal confusion, not your skills, age, or likability.

Follow Up Once or Twice and Then Let It Go

A polite email after a week or two is perfectly acceptable. If there’s still no reply, rest assured knowing you’ve done your part.

Resist the Urge to Chase

Continuing to reach out can drain your energy and self-confidence. Aim that effort toward new, active opportunities.

Document and Learn

Keep track of how firms engage (or don’t). It’s helpful data. If they can’t manage common courtesy now, imagine how they deal with challenges within the organization.

Be Kind to Yourself

When we don’t hear anything, it breeds self-doubt. Counter it with reminders of all you offer and your resilience.

Turning the Experience into Empowerment

As upsetting as ghosting can be, it can also serve as a quiet compass, pointing you away from environments that don’t line up with your values. Respectful communication should always be a baseline. It’s not a luxury and really is the least anyone should expect.

Think of it this way: a company that ghosts you is showing you who they are. Believe them and reframe their lack of decency as a redirection. The right employer, client, or collaborator will appreciate follow-through, maturity, and transparency. And those qualities never go out of style.

So, if you find yourself plagued by the sound of silence while looking for a new job, remind yourself: sometimes, the door that never opens is the one that saves you from walking into the wrong room.

Let’s Have a Conversation:

Have you ever been ghosted after an interview? How did you handle it? What do you think causes employers to ghost candidates instead of simply conveying a decision? Share your thoughts and experiences with our community.