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4 ways 'anchoring bias' can hurt you financially
  + stars: | 2023-06-21 | by ( Greg Iacurci | ) www.cnbc.com   time to read: +3 min
A 401(k) match can be an unintentional anchor"Anchors" can be intentional or unintentional, said Klontz, a member of CNBC's Advisor Council. A 401(k) match can serve as an unintentional anchor. Companies choose the respective structure of their 401(k) match — and that structure may inadvertently influence a worker's savings rate. For example, a company may opt to pay a match worth up to 3% of a worker's salary. Encouraging investors to start with a micro-investment "leads to lower wealth accumulation in this brokerage account due to anchoring bias," according to the paper.
Persons: Klontz, they'll, Grill, Tim Vipond, Itzkowitz Organizations: Companies, Google, Corporate Finance, Bank, Getty, Puerto, CFI Education Locations: Hawaii, Puerto Rico
Your college major can have a profound impact on your income. Within four years of graduation, some majors stand to earn as much as $256,539, while others make less than $10,000 per year, according to a new report from The HEA Group, a research and higher education consulting firm. The top-earning majors are in so-called STEM fields, or degrees in science, technology, engineering and mathematics. Half of the top 10 majors with graduates making the most money are subsets of engineering. Here are the 10 highest-paying college majors, four years after graduation:
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