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☆ 4 ways equity management can help build a foundation for growth
▼ + stars: | 2024-05-02 | by ( Sponsor Post | ) www.businessinsider.com time to read: +7 min

To drive a culture of ownership, companies must build an effective strategy around equity management. Optimize capitalization table managementOne of the core elements of an effective equity management strategy is a transparent and defensible capitalization table. And with a partner to help design or evolve your equity plan management strategy, your organization will be well-prepared for its next stage of growth. Morgan Stanley Smith Barney LLC ("Morgan Stanley") and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Morgan Stanley at Work services are provided by Morgan Stanley Smith Barney LLC, member SIPC, and its affiliates, all wholly owned subsidiaries of Morgan Stanley.

Persons: Teri McFadden, you've, Morgan Stanley, Mike Jung, Morgan Stanley Smith Barney, SIPC Organizations: Norwest Venture Partners, Circle, Insider Studios, Financial Advisors, Wealth Advisors

☆ Don't believe these money misconceptions: 3 things to know that can help improve your finances
▼ + stars: | 2024-04-25 | by ( Sharon Epperson | In Sharoneppersoncnbc | ) www.cnbc.com time to read: +4 min

Part of the problem: People continue to believe common misconceptions about managing and investing their money. When it comes to your retirement savings, target-date funds can be another smart option. Young couple managing finance and investment online, analyzing stock market trades with mobile app on laptop and smartphone. "People feel like, I can get a higher return with no risk … but basically, a higher return is always a reward for higher risk." There's almost no risk to money in federally insured deposit accounts, unlike investments that are subject to the daily changes in the stock, which can result in much higher risk.

Persons: Witthaya, Annamaria Lusardi, Paul Yakoboski, Young, Lusardi, There's Organizations: TIAA, Global Financial, Stanford Institute for Economic Policy Research, TIAA Institute, Target, CNBC, Financial Wellness, Board Locations: U.S

In 2021, college athletes in the NCAA gained the opportunity to benefit financially from their name, image and likeness — known as NIL regulations. The NIL era has allowed college athletes to save for the future and seek professional financial advice in a way many 18- to 22-year-olds can't. NCAA athletes hire agents and financial advisors to help them negotiate NIL deals, ushering in new financial responsibilities. Copeland is the CEO of Athletes.org, an organization that focuses on helping college athletes navigate this new world. Morgan Stanley's head of Global Sports and Entertainment, Sandra Richards, and her team work with several NCAA athletes.

Persons: Caitlin Clark, Matthew Holst, Olivia Dunne, Chase Griffin, Griffin, Jayne Kamin, I've, He'll, Brandon Copeland, Copeland, Morgan Stanley's, Sandra Richards, Richards Organizations: Iowa Hawkeyes, Ohio State Buckeyes, Carver, Getty, NCAA, Louisiana State University, University of Iowa, UCLA, UCLA Bruins, Arizona Wildcats, Rose, CNBC, NFL, CNBC Global Financial Wellness, Global Sports, Entertainment Locations: Iowa City , Iowa, Pasadena , California

☆ Set yourself up to build wealth, save more and get out of debt in 3 simple steps: 'Starting is critical'
▼ + stars: | 2024-04-09 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +3 min

Once you get acquainted with financial terms and skills, though, it can still feel daunting to begin your journey toward financial wellness. Aliche went through her own "financial shenanigans" before she charted her own path to financial wellness and wrote a book about it to help others. Whether you need to pay down a mountain of debt or just don't know where to start building wealth, here are the first three steps to take to begin your financial wellness journey, according to Aliche. Recognizing that you're not alone can help you feel more empowered to try and take the next steps in your journey. "Identify what you are actually struggling with so you can ask for specific help," Aliche says.

Persons: Tiffany Aliche, Aliche, doesn't Organizations: Global Citizen NOW Summit, CNBC Locations: Aliche

☆ I saved $100,000 by 25 thanks to the good financial habits my mom and dad gave me. Here are my top tricks.
▼ + stars: | 2024-04-05 | by ( Aleenah Ansari | ) www.businessinsider.com time to read: +5 min

Money gave me the freedom to leave a toxic job, travel to Europe, and launch my career as a financial advisor. When I set out to save $100,000, I was 22, living in Seattle in 2016 and making $55,000 at my first corporate job. Saving $100,000 was a combination of privilege and hard work. I felt confident I could launch a successful financial education platform and take my financial education business, "Her First $100k," full-time. I wouldn't have hit my $100,000 goal as quickly if I hadn't routinely invested in these accounts.

Persons: Tori Dunlap, Roth, there's Organizations: Service, Business Locations: Seattle, Europe, Costa Rica

☆ Gig workers face a savings crisis for retirement
▼ + stars: | 2024-03-09 | by ( Alex Bitter | Tim Paradis | ) www.businessinsider.com time to read: +6 min

AdvertisementSome gig work services are offering a perk usually associated with traditional jobs: retirement savings accounts with matching contributions. Alexandrea Ravenelle, an assistant professor in sociology at the University of North Carolina, Chapel Hill, told BI she would like to see gig workers classified as employees of the platforms, not independent workers. Ravenelle said a better plan would be for companies to extend similar types of retirement benefits to gig workers as employees of those companies enjoy. The Robinhood program also offers gig workers on these platforms access to free financial counseling through GreenPath Financial Wellness, a nonprofit. AdvertisementSergio Avedian, a Los Angeles-based industry advocate for gig workers who drives for an app himself, often encourages gig workers to set aside money for retirement.

Persons: Robinhood, —, Alexandrea, Hill, Ravenelle, Robinhood —, Doordash, Morgan Courtney, Courtney, Taskrabbit, Steve Quirk, they'll, Quirk, Sergio Avedian Organizations: Service, University of North, Financial, Workers Locations: University of North Carolina, Los Angeles, Idaho

Hillary Seiler works with NFL players to help them build solid financial habits and create wealth. AdvertisementPrioritize good credit so you can get the best interest rates and avoid obstacles to buying a home. Hillary Seiler, founder of Financial Footwork, helps clients improve their finances, including working with many NFL players to establish good financial habits and preserve their wealth. Seiler says the strategies she shares with NFL clients can be used by anyone to build wealth and financial stability. Prioritize a good credit scoreCredit has always been important, but now in a high interest rate environment, good credit is crucial.

Persons: Hillary Seiler, Seiler, Read Organizations: NFL, Business

☆ 'A budget is a picture of what your money is doing,' The Budgetnista says. Here's where to start
▼ + stars: | 2024-03-03 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

Karan Kapoor | The Image Bank | Getty ImagesHaving a strong budget can help you build financial wellness. "A budget is a picture of what your money is doing," Tiffany Aliche, also known as The Budgetnista, told CNBC during a Women & Wealth livestream. You have to understand what your money is doing," said Aliche, a personal financial educator and author of "Get Good with Money." Make a list of expenses: The first thing to do is write a list of all the things you spend money on within a given month, said Aliche. It can also help to list out expenses you don't pay every month, such as annual memberships or quarterly taxes.

Persons: Karan Kapoor, Tiffany Aliche, Sophia Bera Daigle, who's Organizations: Bank, Getty, CNBC, Wealth, Gen, CNBC Financial Locations: Austin , Texas

☆ 32-year-old former Google employee: I saved $400,000 living at home with my parents—why I don't regret it
▼ + stars: | 2024-02-13 | by ( Claudia Chee | ) www.cnbc.com time to read: +3 min

Even though I planned to get my own place at some point, I ended up living at home for 12 years. When I moved out this past December, I had $400,000 saved and invested from both my 9-to-5 income and earnings as an entrepreneur. In my early 20s, my meals were split 50/50 between my parent's cooking and the Google cafeterias. So in 2017, I left Google and the 9-to-5 grind, to focus on what I was really passionate about. In 2018, I started teaching yoga, and five years later, I pivoted to another passion of mine: music.

Persons: John Bogle's, Costco Claudia Organizations: Google, San Francisco Bay Area, Costco Locations: San Francisco Bay, U.S

☆ What Walmart’s new focus on employee stock could mean for the wealth of the average American household
▼ + stars: | 2024-02-03 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +9 min

Walmart is offering its store managers stock grants, which based on a manager's store format, can range between $10,000 and $20,000. It's not only managers that Walmart wants to encourage to buy into stock ownership. 1 employer, Walmart's decisions are likely to have significant ripple effects and could even lead to broader equity ownership among rank-and-file employees. Already companies such as Ingersoll Rand and Harley-Davidson have taken steps to broaden stock ownership to employees. "Stock ownership is a pillar of worker financial wellness."

Persons: John David Rainey, Chris Taylor, It's, John Furner, Doug McMillon, Biden, Marc Roloson, Aalap Shah, Pearl Meyer, Shah, Brian J, Albert H, Gordon, Stacey Kole, Ed Rataj, Michael Kestenbaum, Gallagher, Peter Follows, Kole, Ingersoll Rand, Davidson, Martin Whitman, Whitman, Pete Stavros's, Walmart's, Harvard's, WTW's Roloson Organizations: New York Stock Exchange, Walmart, International, NYSE, LinkedIn, Companies, Business Administration, Harvard Business School, The University of Chicago Booth School of Business, CBIZ, Carpedia, Harley, Just Locations: U.S

☆ A recently extended Denver guaranteed basic-income program gave people up to $1,000 a month. A participant said it allowed him to pay rent and gave him hope to keep providing for his kids
▼ + stars: | 2024-02-02 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +10 min

For a year, it allowed him to pay rent, more comfortably pay his bills, and spend time with family. He couldn't afford rent anymore after the program, but he's hopeful the extension will help him again. Basic income programs including those in Austin and Minneapolis showed that most recipients spend their payments on soaring housing costs. For the first year, the project gave participants either $1,000 monthly, $500 monthly with $6,500 upfront, or $50 each month as a control group. Some of his former coworkers found out he was living in his car, and they helped him find a place and pay rent.

Persons: Jarun Laws, —, It's, Laws, Karl W, Smith, Mark Donovan, he's, I'm Organizations: Income, Service, Denver, Bloomberg, Colorado Trust, University of Denver's Center for Housing, Homelessness Research, Safeway, Doordash, BI Locations: Denver, Austin, Minneapolis, Greater Denver

☆ Chipotle is going after Gen Z workers with new perks like help with paying off student debt
▼ + stars: | 2024-01-24 | by ( Nancy Luna | ) www.businessinsider.com time to read: +3 min

Read previewChipotle is boosting its worker benefits to attract Gen Z workers as the chain seeks 19,000 new hires in the coming months. One carrot they're dangling before Gen Z applicants is a new perk that will help workers save for retirement while also paying off student loans. Private and federal loans are eligible for the student loan match, Chipotle said. Advertisement"If the employee is paying at least 5% of their salary toward the student loan, Chipotle will match 4% into their 401(k)," Chipotle told BI. The new 401(k) match incentive program is one of four new benefits introduced this week by the chain to help its Gen Z workforce.

Persons: —, Chipotle, Forbes, it's Organizations: Service, Business, Employees

☆ What to expect at work in 2024
▼ + stars: | 2024-01-02 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +7 min

Another recent survey by consulting firm Mercer found that employers expect to promote just under 10% of their employees this year. Expect, too, to see a wider variety of employers offer more financial wellness benefits in 2024. “After three years of turmoil it finally looks like [work from home] has stabilized and 2024 will look a lot like 2023. Employees who can work a hybrid schedule are generally working from home roughly 30% of the week (or about 1.5 days), Bloom noted. For example, someone with a busy work schedule may opt to take them via text or chat on their phone on a Sunday morning, he said.

Persons: WTW, Mercer, ” Mercer, Rich Fuerstenberg, Emily Rose McRae, ” McRae, McRae, ”, Nick Bloom, Bloom, Anthony Reynolds, Reynolds Organizations: New, New York CNN, Gartner Inc, …, Stanford University, Employees Locations: New York

Featured Investing App Robinhood Investing Start investing On Robinhood's website Icon of check mark inside a promo stamp It indicates a confirmed selection. Account Minimum $0 ($1 for fractional shares; $2,000 for margin trading Fees 0% ($5/month for Robinhood Gold) Pros Check mark icon A check mark. Goal-based planning, tax-loss harvesting, charitable giving, and socially responsible investing availableCheck mark icon A check mark. Streetbeat offers a list of stock picks based on investment data it has analyzedCheck mark icon A check mark. 0.25% for automated investing (0.06% to 0.13% for fund fees) Pros Check mark icon A check mark.

Persons: It's, Apex Crypto, It’s, Tessa Campbell, Read Organizations: Forbes, Robinhood, CFP, Invest, Trade, Ideas, Finance, New, Apex, M1 Finance

☆ 2 participants in Denver's basic-income experiment say it's helped them buy a car, rent an apartment, and turn their lives around
▼ + stars: | 2023-10-21 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +9 min

Through the Denver Basic Income Project, they received $6,500 up front and $500 monthly for a year. These payments helped them rent an apartment, buy a car, and improve their mental health, they said. How basic income worksOver the course of a year, the Denver Basic Income Project gives participants cash payments of varying amounts. The Denver Basic Income Project began in 2021 and was granted a $2 million contribution from the city. AdvertisementAdvertisementBroncucia and Searls participated in the Denver Basic Income Project.

Persons: Dia Broncucia, Justin Searls, —, Broncucia, Searls, Mark Donovan, Armando Generyo, Donovan Organizations: Income, Service, University of Denver's, Housing, Homelessness Research, Social Security Disability Insurance Locations: Denver, San Francisco, New York, Santa Fe , New Mexico, Vancouver , British Columbia

☆ Valerie Rivera, CFP, on how to help more Americans succeed as first generation wealth builders
▼ + stars: | 2023-10-10 | by ( Kiley Lambert | ) www.cnbc.com time to read: +5 min

Rivera recently shared her thoughts and expertise on several topics ahead of the CNBC FA Summit on October 12. Prior to FirstGen Wealth, Rivera previously worked at primarily large wealth-management firms including AllianceBernstein, Merrill Lynch and TIAA, serving clients with $5-10 million of net worth. CNBC: What advice would you give financial advisors who are trying to find more clients among what could be considered traditionally underserved communities? This isn't just about numbers; it's about creating a financial foundation that supports the life you want to live. Rivera: The financial planning space has been this rigid system of serving a specific demographic in a box.

Persons: Rivera, Merrill Lynch, It's, I've, let's Organizations: CNBC, Summit, AllianceBernstein, CNBC's Locations: Latina, TIAA, ShoreBank

☆ Heloc vs Home Equity Loan: When Are They a Good Idea?
▼ + stars: | 2023-08-18 | by ( Aly J. Yale | ) www.wsj.com time to read: +10 min

And might a home-equity loan or Heloc work for your financial needs? How home-equity loans and Helocs workHome-equity loans and Helocs—home equity lines of credit—are tools for borrowing from your home equity, or the portion of your property you actually own. To use a home-equity loan or Heloc, you need to start with a good amount of equity. Lenders generally require that you maintain at least 20% equity in the home after taking out a home-equity loan or Heloc. “With a home-equity loan or Heloc—depending on the amount of equity you have in the home—much higher amounts are available.”Home-equity loan or Heloc?

Persons: Aly J, Jeff Levinsohn, Helocs, “ We’ve, ”, Susan Waite, don’t, Zillow, Alex Madonna, Louis, ” Levinsohn, Kyle Enright, ” Madonna Organizations: Yale, Point Breeze Credit Union, Center for Joint Housing Studies, Mortgage, Association, New, ”, Federal Reserve Bank of St, “ Locations: Hunt Valley, Md, “

The Sesame Credit Builder card is available now, while the Sesame Ring credit-management platform launches on August 22. No credit check Check mark icon A check mark. Credit Sesame will not pull a hard inquiry on your credit report, so your credit score won't drop when you start using the Sesame Credit Builder. Credit Sesame will not pull a hard inquiry on your credit report, so your credit score won't drop when you start using the Sesame Credit Builder. Sesame Credit Builder is available now online or through the Credit Sesame mobile app.

Persons: Sesame, — Organizations: Community Federal Savings Bank, Sesame, Credit Locations: America

☆ Avoid these 5 money red flags if you want to grow your wealth
▼ + stars: | 2023-07-19 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +7 min

Here are five red flags money experts see when creating financial plans for their clients, and what to look out for if you want to be smarter with your own money. Plus, young people may be especially susceptible to overspending, Emily Safford, a certified financial planner and wealth advisor at Girard, a Univest Wealth Division, based in Pennsylvania, tells CNBC Make It. "[Credit card debt] can snowball and get out of hand very quickly and when you're young, you're putting yourself at a real disadvantage moving forward." "If you're not feeling confident and you're feeling overwhelmed, that's a perfect time to seek out the assistance of a planner," VanderLinde says. But beware: You may spot a number of red flags when looking for the right financial professional.

Persons: Emily Safford, Girard, Safford, Annette VanderLinde, VanderLinde, they're, you'll, you've, Fernando Reyes, they've, Reyes, that's, It's, Procrastinating Organizations: CNBC, Liberty Wealth Advisors, Prime Capital Investment Advisors Company, Wealth Locations: Pennsylvania, Torrance , California

☆ Don't budget, says financial psychologist. Here's why he recommends a 'spending plan' instead
▼ + stars: | 2023-06-27 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

Budgets help address maladaptive financial behavior or areas where you need control, such as overspending or spending leakages. "Psychologically, 'budgets' sound restrictive. 'Spending plans' sound a lot better — they give a lot more freedom and flexibility," he said. "It's about giving yourself permission to start the life stage that you're in and then go on to the next one," said Cherry. Jump-start your financial journey by being honest with yourself on where you are standing.

Persons: Preston D, Cherry Organizations: CNBC's Locations: Green Bay , Wisconsin

For people of color, talking about money with a financial planner or money coach can be daunting. "If we don't talk about our money goals or wins, how can we view money as a tool?" Figure out what kind of help you're looking forFirst, ask yourself if you're looking for a financial advisor or money coach, or potentially both. Many financial advisors are fiduciaries, who are legally obligated to act in your financial interest. If that's you, find a financial advisor to help you deepen your understanding while respecting your boundaries with risk."

Persons: —, who's, I've, Jazmin Higgins, Higgins, it's, Tori Dunlap, Rich, Ramit Sethi, that's, aren't Organizations: Service, Financial

Our experts answer readers' personal loan questions and write unbiased product reviews (here's how we assess personal loans). Secured personal loans are backed by collateral just like other types of secured loans, but for personal loans, they're a bit different. Compare Personal Loan RatesWhen is a line of credit better than a personal loan? Interest rates for personal lines of credit and credit cards tend to run higher, on average, than those for personal loans. Interest rates for personal lines of credit and credit cards tend to run higher, on average, than those for personal loans.

Persons: —, Dani Pascarella, Pascarella, You'll, might've, caterer Organizations: Service, Chevron

The Chase Freedom Rise℠ is a beginner credit card that earns 1.5% cash back on all purchases with no annual fee. How to Apply for the Chase Freedom RiseTo apply for the Chase Freedom Rise℠, you must fill out an application at a physical Chase bank branch. Chase Freedom Rise Benefits and RewardsThe Chase Freedom Rise℠ is similar to the Chase Freedom Flex℠ and Chase Freedom Unlimited® in that it earns rewards in the form of Chase Ultimate Rewards® points, which you can redeem at a rate of 1 cent each for cash back, gift cards, or travel through the Chase Ultimate Rewards Travel Portal. Unlike the other Freedom cards, the Chase Freedom Rise℠ doesn't offer a traditional welcome bonus tied to a spending requirement. That's not a bad deal considering many starter credit cards don't offer a bonus at all, but it's significantly less than what the best cash-back credit cards offer.

Persons: Chase, Read, —, you'll, We're, That's, Cardholders, you've Organizations: Service, Chase, Quicksilver, Chevron, Gas, Business, Chase Credit Locations: autopay

☆ 62% of student loan borrowers 'live for today' when it comes to spending—why that's a problem
▼ + stars: | 2023-06-12 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +4 min

Student loan borrowers are younger, more impulsive and less financially secure than the rest of the U.S., a recent study from UBS found. Additionally, student loan borrowers earn less money on average, are younger and skew slightly female, UBS found. Impulsive spending could be hurting your financial goalsThe majority of student loan borrowers — 62% — follow a similar philosophy when it comes to spending, UBS found: "Live for today because tomorrow is so uncertain." The share of all adults who have more than six months' worth of expenses saved — about 34% — is more than double the share of student loan borrowers who say they have as much. Of course, student loan borrowers also have less money to work with, since a portion of their income goes to loans each month.

Persons: —, Tara Unverzagt, Unverzagt Organizations: UBS, —, CNBC Locations: U.S

☆ 4 financial tools that all parents should consider, whether their child is a newborn or a teen
▼ + stars: | 2023-06-01 | by ( Kelly Burch | ) www.businessinsider.com time to read: +5 min

Things such as life insurance and investments can help increase your child's financial security. These are the tools a financial planner said parents should consider. Get — or update — life insuranceHaving up-to-date life insurance is one of the most important things you can do to look out for your child. And that's the perfect time to open a Roth individual retirement account, a type of retirement savings account. "To determine what's best for them, parents should consider their financial goals, risk tolerance, and their child's potential needs," Lofton said.

Persons: Jenna Lofton, Lofton, doesn't, They'll, Roth, they're Organizations: College, Roth IRA

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