Opinion: Time for more personal finance education
Yanely Espinal
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State Treasurer Shawn WoodenFile photo
Earlier this year, Connecticut legislators debated whether a law promoting the teaching of personal finance to the next generation of high schoolers should be mandatory in the state.
They agreed that financial literacy is key to ensuring the economic futures of state residents. But they worried that making coursework a requirement would result in school districts pushing back over the increases in costs for books and other learning resources, as well as teacher training.
In fact, that has been a national concern, but it’s one that has been removed by nonprofit organizations like mine that provide free curriculum and professional development.
Written by Mark Seavy
If there is a path to narrowing the wealth gap in Connecticut and addressing economic inequality it might as well start at birth.
The so-called Baby Bonds bill, introduced by State Treasurer Shawn Wooden earlier this year, would set up a trust controlled by the Office of State Treasurer and establish a $5,000 savings account for children born into families enrolled in the state’s HUSKY Medicaid program. When the child turns 18, the money is unfrozen and can only be used for education, housing, retirement security or investment purposes.
Assuming a 6.9% return, that savings account could grow to more than $16,000 by the time each youth is eligible to collect the funds and provide benefits to individuals that might not otherwise have access to them. It’s not a panacea for addressing the long-standing economic inequality in Connecticut. But it’s a start.
Local and federal officials were in Hartford Monday morning to talk about racial inequities in North Hartford caused by Interstate 84 cutting the neighborhood from the rest of the city, as well as the Hartford 400 project and the American Jobs Plan.
U.S. Rep. John Larson, who represents Hartford, and has lobbied for dismantling the current highways that cut through the capital city. For a long time, you have heard Congressman Larson champion a vision for reconnecting the city of Hartford to the river on which it was built and at the same reconnect our neighborhoods that were severed when the highway I-84 was built right smack through the center of our city, reinforcing the red lines that had been in place for many years before, Bronin said.
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May 6, 2021
Connecticut State Treasurer Shawn T. Wooden transmitted the monthly Cash and Bonding Report for the month of March 2021 with updates as of May 1st to the Governor and General Assembly. The Report highlights Connecticut s continued strong cash position during the pandemic and summarizes planned bond issuances for the remainder of Fiscal Year 2021. Additionally, the Treasurer shares his perspective on the capital markets.
Cash Position
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As of May 1, 2021, the State s overall available cash is $6.3 billion with the common cash pool at $5.6 billion. As a result of Connecticut s recent credit rating upgrade on March 31, the first in over 20 years, our bonds are generating greater demand, allowing CT to borrow at even more attractive interest rates, said State Treasurer Shawn Wooden. On April 23, the State s $1 billion of Special Tax Obligation (STO), Transportation Infrastructure bond sale achieved an all-time record low borrowing cost, and saving taxp
Do-goodism? Fad? Bridgewater Associates and CT s state treasurer commit to sustainable investing
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Carsten Stendevad is co-chief investment officer for sustainability at Bridgewater AssociatesContributed photo /Bridgewater AssociatesShow MoreShow Less
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Ray Dalio, founder and co-chief investment officer of Bridgewater Associates.Ng Han Guan / Associated PressShow MoreShow Less
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For a number of Connecticut’s leading investors, evaluating their portfolios’ performance involves much more than just calculating the monetary return on investment.
Officials at Westport-based Bridgewater Associates, the world’s largest hedge fund, and state Treasurer Shawn Wooden are among those who have responded to clients’ and constituents’ concerns by taking a more holistic approach to deploying capital. They reflect the growing number of companies and government agencies that are scrutinizing their investments’ societal and environmental impact a shif