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"It resonates with both millennials and Gen Zers, which I think indicates that Gen Z is feeling the same 'girl-boss' pressures that millennials famously grew up with," said Casey Lewis, a social media trend forecaster. "I'm a millennial and I grew up like I needed to maximize every minute of the day," Lewis said. And yet, even in cases where women are now breadwinners, the division of labor at home has barely budged, the Pew report found. "But we also live in an environment of layoffs and rising costs, so not being productive isn't really an option," she added. Even though you're not reading the news, you're still seeing how the economy is impacting peers.

Persons: Taylor Swift, “ Midnights, Kevin Mazur, Gen Zers, millennials, Casey Lewis, Eve Rodsky, Taylor, Lewis, That's, Heather Boneparth, Gen Organizations: Crypto.com Arena, Poets Department, Pew Research Center, U.S . Bureau of Labor Statistics Locations: Los Angeles

It shows a curated look at women embracing domesticity as the antithesis of what other young women are experiencing, who are "working hard and barely scraping by," said Casey Lewis, a social media trend forecaster. Evidence shows this is something few women are actually doing, and it's not a realistic lifestyle to aspire to. Young women, whether they're married or not, are expressing a desire to "take a step out of the professional rat race," Lewis said. "There's a lot of pressure on young women," she said. In cases where men are the primary breadwinners, it's more often women who take on the bulk of the caretaking responsibilities, experts say.

Persons: Casey Lewis, it's, Stacy Francis, Eve Rodsky, tradwives, Rodsky, Francis, Heather Boneparth, they're, Lewis, Julia Pollak, Pollak Organizations: Francis Financial, CNBC's, Berkeley Haas Center for Equity, Gender, Pew Research Center, Intuit, ZipRecruiter, Bureau of Labor Statistics Locations: New York, millennials, U.S

☆ Bitcoin halving isn't a big deal for long-term investors, but may have a 'huge' impact on one key group, says Columbia professor
▼ + stars: | 2024-04-19 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +3 min

Bitcoin's "halving" is expected to happen soon. But its potential impact depends on your relationship to the coin; it's likely to affect miners and investors differently. "To the people who own bitcoin because they think it's a good store of value, this halving is not that big of a deal. Miners receive bitcoins, known as block rewards, for verifying and validating transactions and helping keep the blockchain network secure. What the bitcoin halving may mean for investorsWhile the halving itself doesn't directly impact bitcoin's price, investors' anticipation of the event can lead to highly erratic price movements, says Douglas Boneparth, a certified financial planner and president of Bone Fide Wealth.

Persons: Douglas Boneparth, Boneparth, Malekan Organizations: Columbia Business School, Architecting, Money, CNBC, Bone, Miners

☆ 25% of Gen Zers say they'll need a therapist to deal with tax filing stress—here's the first step to take to make it easier
▼ + stars: | 2024-04-01 | by ( Annie Probert | ) www.cnbc.com time to read: +4 min

You will receive a W-2 form from your employer if you worked for a paycheck or earned at least $600 in 2023. You can find the 1099-INT form by logging into your bank account and following directions to tax documents. But even if you don't get a form from your exchange, "that doesn't mean you don't need to report it," says Pianoforte. The IRS's frequently asked questions on crypto transactions is also helpful for answering more detailed questions about how to report crypto on your taxes. Form 1098-TIf you're paying college tuition, a 1098-T form will help determine which education-related tax credits you're eligible for.

Persons: doesn't, Pianoforte, filers, Read, haven't, you've, Douglas Boneparth Organizations: Internal Revenue Service, NEC, cryptocurrency, CNBC, Bone

☆ Higher for longer may actually be a good thing, says Douglas Boneparth
▼ + stars: | 2024-03-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHigher for longer may actually be a good thing, says Douglas BoneparthDouglas Boneparth, President of Bone Fide Wealth, discusses the Fed, portfolio management, and the markets for the week ahead.

Persons: Douglas Boneparth Douglas Boneparth Organizations: Bone

☆ Bitcoin will soon be 'halved'—what that means for its price
▼ + stars: | 2024-02-29 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

Halving happens automatically when 210,000 "blocks" are created as part of the bitcoin mining process. The last halving event was in 2020, and the next one is expected sometime in April. Bitcoin's price has surged 36% since spot bitcoin ETFs were approved on Jan. 10. The built-in mechanism mimics the scarcity of gold and ensures that bitcoin mining becomes more expensive over time. "When supply goes down, price goes up, assuming demand remains the same or greater," says Boneparth, who holds investments in bitcoin and other cryptocurrencies.

Persons: Douglas Boneparth Organizations: Bone, CNBC's Locations: bitcoin

☆ Markets likely won't broaden until the Fed lowers rates, says Douglas Boneparth
▼ + stars: | 2024-02-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets likely won't broaden until the Fed lowers rates, says Douglas BoneparthDouglas Boneparth, Founder and President of Bone Fide Wealth, discusses inflation, equities vs. bonds, and his investing strategy.

Persons: Douglas Boneparth Douglas Boneparth Organizations: Bone

But borrowing money always comes with some risks, and home renovation loans can be particularly risky when used to purchase a fixer upper. Renovation loan eligibilityTo get a loan for a house renovation, you'll need to meet certain credit requirements. Cash-out refinances or renovation loans rolled into mortgages are typically the best renovation loan programs because they come with the lowest rates. Home renovation loans FAQsAre renovation loans a good idea? Renovation loans, or home improvement loans, can be a good idea for homeowners looking to make both essential and cosmetic changes to their homes.

Persons: —, It's, Fannie Mae's, Freddie Mac's, you'll, Douglas Boneparth Organizations: Service, Federal Housing Administration, Bone, reno, Chevron

☆ ‘Sorry I am dead’: Why a ‘death note’ is as important as having a will, advisor says
▼ + stars: | 2024-02-02 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

This is how Doug Boneparth, a certified financial planner, starts what he calls a "death note" to his wife, Heather. Sun refers to this concept not as a death note, but as the assembly of one's "financial first aid kit." Don't forget social media accounts, physical itemsOne's online presence is also an important element of a death note, the advisors said. For example, how would you like your social media accounts and professional websites managed after you die? Importantly, don't keep your note secret — tell your loved ones that you've drafted it and where to find it, they said.

Persons: Kathrin Ziegler, Doug Boneparth, Heather, one's, Boneparth, —, Franklin, Matthew Perry's, they're, Winnie Sun, It's, Sun, you've Organizations: Digitalvision, Finance, Sun Group Wealth Partners Locations: New York, Irvine , California

☆ The S&P 500 hit another all-time high—but don't switch up your retirement saving strategy, says CFP
▼ + stars: | 2024-01-26 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Your 401(k) may look a little better than usual as tech stocks pushed the S&P 500 index to another all-time high as of market close on Thursday. But now's not the time to change up your retirement saving strategy. Your retirement saving strategy should be proactive rather than reactive. Since the stock market is, by nature, unpredictable, it isn't wise to base your long-term investment strategy on how the market is performing in the short term. "You can't predict exactly when that bull market becomes a bear market and vice versa," Shamrell says.

Persons: now's, You've, Douglas Boneparth, Mike Shamrell, Shamrell Organizations: Bone, CNBC

☆ It's time to boost 401(k) plan contributions for 2024. Here's how much you should save
▼ + stars: | 2024-01-08 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

If you're itching to save more for retirement, there are higher 401(k) contribution limits for 2024. But there are a few things to consider before maxing out your plan, experts say. For 2024, you can defer up to $23,000 into 401(k) plans, up from $22,500 in 2023, with an extra $7,500 for savers age 50 and older. Some higher earners can funnel even more into their 401(k), depending on plan rules. By comparison, after-tax Roth 401(k) contributions allow assets to grow tax-free, without reducing current-year taxes.

Persons: deferrals, Roth, Douglas Boneparth Organizations: Vanguard, Finance, Bone, CNBC's Locations: New York

☆ 56% of Gen Z doesn't have an emergency fund—here's the first thing you should do to build one, according to a CFP
▼ + stars: | 2023-11-14 | by ( Annie Probert | ) www.cnbc.com time to read: +1 min

High inflation and interest rates have made it hard for people of all ages to build up emergency funds, but Gen Z seems to be having a particularly difficult time stashing away cash, a recent Bank of America survey found. In fact, 56% of Gen Zers say they don't have enough savings to cover three months of expenses in the event of an emergency. Given that emergency funds tend to grow as people get older and wealthier, Gen Z's lack of savings doesn't come as a shock to Douglas Boneparth, certified financial planner and president of Bone Fide Wealth. But this doesn't mean that younger generations should procrastinate when it comes to starting an emergency fund. Here are the basics of an emergency fund and why it's important for Gen Z to begin stashing away cash now.

Persons: Gen, Gen Zers, They're, Bankrate, Douglas Boneparth, it's, Z Organizations: of America, Bone, CNBC

☆ Exchange-traded funds are among the top 3 investment products that got more popular from 2020, survey finds
▼ + stars: | 2023-11-13 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

Getty ImagesExchange-traded funds came in third among the top 10 investment products to grow in popularity with U.S. households from 2020 to 2022, according to a new survey. Additionally, consumers are more aware of what investment products they own compared to a decade ago. Separately managed accounts grew the mostMeanwhile separately managed accounts and high-yield savings accounts beat out ETFs for spots No. 2 in the Hearts & Wallets survey of investment products that grew the most from 2020 to 2022. Meanwhile, high-yields savings accounts speak to the story around inflation and the Federal Reserve increasing rates, which "have been the main headline the last year or so," he said.

Persons: Gen Z, Laura Varas, Douglas, Boneparth, Douglas Boneparth, Blair duQuesnay, duQuesnay Organizations: Getty, Exchange, Finance, Bone, Federal Reserve, FDIC, CNBC's FA, Ritholtz Wealth Management, CNBC FA Locations: U.S, New York, CNBC's

☆ Gen Z, millennials have a much harder time ‘adulting’ than their parents did, CNBC/Generation Lab survey finds
▼ + stars: | 2023-11-07 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

Getty ImagesGen Z and millennial adults are having a hard time achieving the same milestones their parents did when they first ventured out into the workforce. The survey polled 1,039 people between ages 18 and 34 across the U.S. from Oct. 25 to Oct. 30. "We are bombarded with headlines about inflation, and we see inflation when we check out at the grocery store." On the positive side, Beschloss at Generation Lab said there is "hope in this data." Gen Z, millennials and the stock market

Persons: Young, Getty, Cyrus Beschloss, Gen Zers, Blair duQuesnay, duQuesnay, Boneparth, Beschloss, Gen Organizations: CNBC, Generation, Ritholtz Wealth Management, CNBC Financial, Youth, Douglas, Lab Locations: USA, America, New Orleans, New York

☆ Don’t start investing until you’ve accomplished these 2 things, says CFP
▼ + stars: | 2023-10-26 | by ( Annie Probert | ) www.cnbc.com time to read: +2 min

Tackle high-interest credit card debtWith credit card debt topping $1 trillion for the first time this year — and average interest rates over 21% — Boneparth said consumers should focus on paying off high-interest credit card debt before they even think about investing. If your credit card debt carries an interest rate of 15% or more, "get rid of it as soon as possible," he said. Because of that, tackling high-interest credit card debt should be first and foremost on your plan of action, Boneparth said. In addition to paying down credit card debt, you should also examine your spending habits. Asking yourself why you're amassing credit card debt and whether you can really afford to do so can help improve your financial behavior.

Persons: you've, Douglas Boneparth, CNBC's Frank Holland, Boneparth, you'll Organizations: Bone, CNBC

☆ Don’t buy a home as an investment, says CFP: It’s just a ‘roof over your head’
▼ + stars: | 2023-10-20 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

When it comes to buying a home, think of it as a place to live — not as an investment. A home can have sentimental value too, but otherwise it's "very tough to calculate the return on your investment," he said. "If you sell the home many years down the road and you make some money — fantastic," Boneparth said. However, it's very difficult to keep track of "every little repair and addition you've made to that house" over "20 or even 30 years" of ownership. Boneparth makes an exception for rental properties, since they can generate revenue for their owners.

Persons: Douglas Boneparth, CNBC's Frank Holland, Boneparth, you've Organizations: CNBC

☆ The very first step to take if you're overwhelmed by paying back your student loans: 'We have to take control,' CFP says
▼ + stars: | 2023-10-19 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +3 min

Federal student loan borrowers had payments due on their loans this October for the first time in over three years. "We have to take control over our student loans," Boneparth said. Here's the first step to take if you're overwhelmed by paying back your student loans, and where to go from there. Federal student loans can be confusing because you take the loan out from the government, not a specific bank or private lender. But once the loan is disbursed, you're assigned one of several federal loan servicers.

Persons: We've, Douglas Boneparth, CNBC's Frank Holland, Boneparth, you've Organizations: Bone, CNBC, servicers, Department of Education, Nelnet , Missouri Higher Education Loan Authority, Federal, Aid Locations: Nelnet , Missouri

☆ Here’s how much of your income you should invest as a ‘good start’—and how much is considered ‘excellent’
▼ + stars: | 2023-10-19 | by ( Ryan Ermey | ) www.cnbc.com time to read: +1 min

Financial advisors will tell you that you need a plan for every dollar you earn in income. You likely know how much you need to put toward rent and utilities each month, for instance. How much you're willing or able to save depends on a number of factors unique to you, such as your income, debt level and personal goals. For people earning a $50,000 annual salary, stashing $5,000 a year "is a good start," he added. "Getting into that 20% to 30% category is deemed really good to excellent.

Persons: Douglas Boneparth, Boneparth, Frank Holland Organizations: Bone

☆ Retirement goal expectations vs. reality: How Americans stack up
▼ + stars: | 2023-10-19 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

In fact, 45% of Gen Z and millennial workers feel somewhat optimistic. And yet, Gen Z workers are the biggest cohort of non-savers, Bankrate also found. The average 401(k) balance among boomers is $220,900, according to the latest data from Fidelity Investments, the nation's largest provider of 401(k) plans. For Gen Z, the average balance is $8,100. They are also significantly more likely to have at least $100,000 in a retirement savings account, the report found.

Persons: Xers, Z, Bankrate, Gen Xers, Douglas Boneparth, anther, Boneparth Organizations: Fidelity Investments, Bone, Northwestern Mutual, CNBC, Council, Country Financial Locations: New York

☆ WATCH: Money experts discuss how to increase your earning power
▼ + stars: | 2023-10-16 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

The CNBC Make It: Your Money virtual event is scheduled for Oct. 17, 2023 — watch it live as successful entrepreneurs and investors offer actionable advice about building your career and increasing your earning power. , self-made millionaire, "Shark Tank" guest judge and co-founder of RSE Ventures, a private firm that invests in companies in a variety of industries, including sports and entertainment. Lastly, CNBC's Frank Holland interviews Douglas Boneparth, founder and president of Bone Fide Wealth and co-author of "The Millennial Money Fix." To register for the event, click on the "RSVP here" box at the top of CNBC Make It: Your Money livestream page. Disclosure: CNBC owns the exclusive off-network cable rights to ABC's "Shark Tank."

Persons: CNBC's Kristina Partsinevelos, Matt Higgins, Jenny Nguyen, Ashton Jackson, Erin McGoff, CNBC's Frank Holland, Douglas Boneparth, Edward Jones Organizations: CNBC, YouTube, RSE Ventures, Bone Locations: Portland , Oregon

☆ 53% of Gen Z see high cost of living as a barrier to financial success. They're 'buckling down,' expert says
▼ + stars: | 2023-10-16 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

Gen Z faces unique financial challenges compared to older generations. watch nowHigh inflation — and affordability concerns among Gen Zers — extend beyond U.S. borders. Yet, they show less confidence when it comes to saving for retirement or investing in the stock market, the results found. Experts say these three tips can help members of Gen Z learn to manage their money wisely. Make saving a habitUte Grabowsky | Photothek | Getty ImagesMore than half of Gen Z, 56%, do not have enough emergency savings to cover three months' worth of expenses, Bank of America's survey found.

Persons: Martin, Gen Zers, Gen, Gen Z, Douglas Boneparth, Boneparth, It's, it's, Barkley, Young, Roth Organizations: College, Deloitte, Bank of, Bone, CNBC, Experts, Photothek, Getty Locations: U.S, New York

☆ If Social Security benefits were cut, here's how much more you'd need to save for retirement
▼ + stars: | 2023-10-03 | by ( Annie Nova | ) www.cnbc.com time to read: +4 min

In order not to run out of money in retirement, she'd need to save $375 a month in her workplace 401(k) plan — if the Social Security program remains fully in place. "The old-age poverty rate would soar if Social Security benefits were cut," said Richard Johnson, a senior fellow at the Urban Institute. The future of Social Securitywatch nowThe Social Security program has been weakened by a rise in people retiring and the fact that people are living longer. As a result, without any action from lawmakers, the trust fund that supports Social Security benefits for retirees is estimated to run dry in 2033. Workers would continue to pay Social Security payroll taxes, and those collected funds would still be payable to retirees.

Persons: Araya Doheny, Douglas Boneparth, Boneparth, Clifford, Cornell, Biden, Richard Johnson Organizations: Michell, Steel, Getty, Social, Security, CNBC, Workers, Clifford Cornell, Social Security, Finance, IRS, Center, Budget, Urban Institute, Social Security Administration Locations: Cypress , California, New York

☆ Delta's emergency savings initiative offers workers up to $1,000 each. Here's how it works
▼ + stars: | 2023-09-23 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

The airline will then match up to $250 of an employee's contributions made with payroll deductions to that account for a total of $1,000. When the economy stalled, Delta workers tapped roughly $1 billion in hardship withdrawals from their retirement accounts, Bryant said. "I didn't have a strategy in place on how to save money," said Loretta Day, a Delta flight attendant based in Atlanta. But it didn't take long for Day, 51, to practice better money habits once she completed a financial education class, she said. With the additional support, workers "are going to come in earlier, stay longer and go the extra mile," Bryant added.

Persons: Jeff Greenberg, John Hope Bryant, Bryant, Loretta Day, Kelley Elliott, Fidelity's Taylor, Douglas Boneparth Organizations: Delta Air Lines, Hartsfield, Jackson Atlanta International Airport, Universal, Getty, Delta, Fidelity Investments, Employees Locations: Delta, Atlanta

☆ Most Americans aren't interested in AI tools like ChatGPT for money advice—why that's probably a good thing
▼ + stars: | 2023-09-15 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

Nearly 60% of Americans say they're not interested at all in using AI tools to help them manage their money, according to a new CNBC Your Money survey conducted by Survey Monkey. In fact, only about 4% say they've already used AI to help them with their finances. Americans are using artificially intelligent chatbots like ChatGPT to boost their resumes and accelerate their side hustles , but it doesn't look like they're turning to the tool for financial advice. Publicly traded companies publish quarterly earning reports, which can be a good source of information about the financial health of a company. Also, OpenAI warns users that ChatGPT may write "plausible-sounding but incorrect or nonsensical answers" and the tool isn't intended to give advice.

Persons: they're, Douglas Boneparth, it's, OpenAI, Warren Buffett Organizations: CNBC, Survey, Publicly Locations: U.S

☆ Social Security's trust funds are running dry. Here are 4 things to know
▼ + stars: | 2023-09-11 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

The vast majority of older Americans get Social Security benefits, which either partially or even fully fund their income in retirement. Social Security is 'America's pension safety net'Virtually every retiree receives some sort of guaranteed income stream — and Social Security is "by far" the most prominent of these income sources, Blanchett said. About 97% of Americans age 60 and older either receive or will collect Social Security benefits, according to Social Security Administration data. Workers would continue to pay Social Security payroll taxes, and those collected funds would still be payable to retirees. There will be 'losers'Congress will almost surely tweak Social Security to fix the solvency problem.

Persons: MoMo, David Blanchett, Blanchett, Doug Boneparth, Lorie Konish Organizations: CNBC's, Finance, Security, U.S, Social Security, Prudential Financial, CNBC, Social Security Administration, Insurance, Workers, Social, SSA Locations: PGIM, New York

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