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☆ Who's winning the Drake vs. Kendrick Lamar showdown? Here's what critics are saying
▼ + stars: | 2024-05-01 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +9 min

Read previewDrake and Kendrick Lamar were once considered collaborators, perhaps even friends. Over the years, however, Drake and Lamar came to represent very different versions of hip-hop greatness: the former is a commercial juggernaut, racking up No. Today, their separation is more apparent than ever: Drake and Lamar have become all-out foes. AdvertisementIn the former, Drake mocks Lamar's height with a reference to his latest Grammy-winning album, "Mr. Morale & the Big Steppers." "I hate the way that you walk, the way that you talk, I hate the way that you dress."

Persons: —, Drake, Kendrick Lamar, Lamar, who's, it's, Lamar's, Cole's, Aubrey, Cole, Aubrey Graham, Taylor, Tupac Shakur, Angel Diaz, Sowmya Krishnamurthy, Krishnamurthy, Alphonse Pierre, Pierre, Pusha, Drake teardowns, DMX, Hunter Harris, Lamar's catty, Zoe Guy, Guy, Andre Gee, Lamar didn't, Gee, Kendrick doesn't, DJ Marseel, Shamira Ibrahim, I'm, Kendrick, bec, Tay Organizations: Service, Beatles, Business, Metro, Morale, objectifying, Billboard, Pitchfork, Stone Locations: Lamar

☆ How to save for retirement if your company doesn't offer a 401(k)
▼ + stars: | 2024-04-30 | by ( Mike Winters | ) www.cnbc.com time to read: +4 min

Even if your employer doesn't offer a 401(k) plan, it shouldn't stop you from getting the most out of your retirement savings. You have other tax-advantaged options available to save for the future, including individual retirement accounts, Roth IRAs or health savings accounts — all of which can help your money grow. However, only about 11% of Americans max out their 401(k) contributions. If you don't have an employer retirement plan like a 401(k), all of those contributions are tax deductible. And unlike traditional IRAs, you don't have to take minimum distributions at any point.

Persons: Roth, Justin Rucci, Roth IRAs Roth, Alyson Basso Locations: Newport Beach , California, Middleton , Massachusetts

California Coast Credit Union is currently offering a 5-month CD with a rate of 9.50% annual percentage yield (APY). For a limited time, the California Coast Credit Union is offering 9.50% APY on its 5-month "Celebration Certificate" CD in honor of its 95th anniversary. While some credit unions offer membership to anyone in the nation, California Coast Credit Union isn't one of them. You also can't have previously opened a Celebration Certificate CD, as it's limited to one per social security number. You can't withdraw your money early or add any additional money to the CD after you've funded it.

Persons: it's, you'll Organizations: California Coast Credit Union, San Diego Riverside Orange, San Diego Riverside Orange Los Angeles Ventura Locations: California, Southern California, San Diego Riverside Orange Los, San Diego Riverside Orange Los Angeles Ventura Imperial San Bernardino

☆ Advice about 401(k) rollovers is poised for a big change. Here's why
▼ + stars: | 2024-04-28 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Johner Images | Johner Images Royalty-free | Getty ImagesA new U.S. Labor Department rule will significantly change the advice many investors receive about rolling money over from 401(k) plans to individual retirement accounts, legal experts say. watch nowA 'major shift' in rollover adviceThe new Labor Department rule aims to make more investment recommendations "fiduciary" in nature. The new Labor Department rule changes that, however. Good advisors are likely making an honest effort to do what's best for their clients, but hopefully the Labor Department rule would "bring up the bottom to a better quality," Reish said. However, many financial companies dispute the necessity of the Labor Department rule.

Persons: Rollovers, Katrina Berishaj, Ronon Stevens, Young, it's, Reish, Berishaj, They'd, Susan Neely Organizations: . Labor Department, Department, Labor, Economic, Labor Department, Young, American Council of

☆ What this NFL Draft pick plans to do with his new money—from mutual funds and a Roth IRA to Air Jordan 1 sneakers
▼ + stars: | 2024-04-27 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

Fiske, 24, was drafted by the Los Angeles Rams in the second round of the 2024 NFL Draft on Friday evening. "I had never been around that much money," Fiske told MarketWatch last month. Together, they've discussed "how my financial life is going to change" upon signing an NFL contract, Fiske noted. "I'm putting money into mutual funds, index funds, high-yield savings accounts and maybe exploring new investment opportunities, too," he said, adding: "I also have a Roth IRA ... But that doesn't mean he won't splurge on a fun purchase: He's an avowed fan of Nike's Air Jordan 1 sneakers, for example.

Persons: Braden Fiske, —, Fiske, you've, they've, Roth, he's Organizations: Los Angeles Rams, Florida State University, FSU, NFL, Roth IRA, Air, Honda Accord, CNBC

☆ NFL draft prospect who could get a $2.7 million signing bonus still drives his old Honda Accord: 'It gets me from A to B'
▼ + stars: | 2024-04-25 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

That would mean a likely contract of around $8 million over four years, including a $2.7 million signing bonus, according to MarketWatch . The idea of young athletes reaping instant riches has long been an annual subplot of the NFL draft. The money I received gave me a peace of mind I did not have previously," Fiske told Business Insider. Though he made some savvy choices, Fiske admitted he made "a few mistakes" early on after receiving his NIL money. "I'm sure I'll give in once I see more 0s on my account," Fiske told MarketWatch.

Persons: Fiske, Braden Fiske, he's, He's, he'll Organizations: Honda Accord, Florida State University, NFL, NCAA, FSU, Business, IRA, Air, CNBC Locations: Detroit

☆ Saving in a 401(k) can come with unexpected tax bills. Here's what to check right away to avoid a surprise and 4 ways to reduce your taxes as you withdraw.
▼ + stars: | 2024-04-24 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +8 min

Depending on your tax bracket at the time of withdrawal, your 401(k) money could be taxed at around 20% or 30%. Note that if you have a Roth 401(k), which is funded with after-tax dollars, you won't be taxed when withdrawing. The longer you can wait to touch your 401(k) money, the longer you'll delay owing taxes. Finally, there's the "non-taxable portion," he said, which would be money in accounts like a Roth 401(k), Roth IRA, and HSA. Or do they have a Roth IRA that they can take it from tax-free to benefit them?"

Persons: —, Grant Neiland, there's, you'd, Roth, Neiland, you've Organizations: Service, Business, Carson Wealth, IRS, Roth IRA

☆ Labor Department issues rule to crack down on bad retirement savings advice
▼ + stars: | 2024-04-23 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Al Drago/Bloomberg via Getty ImagesThe Biden administration issued a final rule on Tuesday that cracks down on the investment advice that advisors, brokers, insurance agents and others give to retirement savers. The final rule takes effect on Sept. 23. Current retirement rules don't provide adequate protections to savers, Labor Department officials said during a press call Tuesday. Such a dynamic can "chip away" at Americans' savings, Gomez said. The amount of 401(k)-to-IRA rollovers is 'astronomical'The final rule doesn't differ significantly from the Biden administration's initial proposal, Labor officials said.

Persons: Al Drago, Biden, Obama, Lisa Gomez, That's, Gomez, Andrew Oringer, Oringer Organizations: U.S . Department of Labor, Bloomberg, Getty, Labor, Security, The Labor Department, Economic Advisers, Biden, Finance, Economic, Wagner, Department of Labor Locations: Washington, IRAs

☆ Early retail bulls chart Nvidia's transformation from gaming icon to AI superpower — a ride that's paid for cars, dream homes, and lavish vacations
▼ + stars: | 2024-04-23 | by ( Ana Altchek | Jennifer Sor | ) www.businessinsider.com time to read: +7 min

Nvidia has been a cash cow for retail investors lucky enough to buy before the huge AI-fueled rally. Early retail investors told Business Insider their gains have paid for cars, vacations, and dream homes. The stock's steep climb — up over 1,500% since 2019 — has transformed the lives of some of Nvidia's long-term retail investors, resulting in comfier retirements, new cars, and gains worth millions for some. Nvidia shares tumbled by more than 30% in 2018. That sense of security that such a windfall provides was the top theme among the Nvidia investors Business Insider connected with.

Persons: —, I'm, ChatGPT, Tom, he'll, Danial hadn't, Danial, Roth, Jeff Roberts, Rick, He's, Chris Downs, Downs, he's Organizations: Nvidia, Business, Service, Vanda Research, Apple, Invest, Mexico City Locations: New Jersey, Texas, Costa Rica, Missouri, Bolivia, Paris, Mexico, Spain

California Coast Credit Union's 9.50% APY CD comes with strict requirements. miniseries/Getty ImagesCalifornia Coast Credit Union gives 9.50% APY (annual percentage yield) on its 5-month CD special. AdvertisementCalifornia Coast Credit Union, a local credit union in San Diego and Riverside counties, is currently offering a 5-month Celebration Certificate with a 9.50% APY, or annual percentage yield. How to get 9.50% APY on a California Coast Credit Union CDCalifornia Coast Credit Union is a credit union, which means that you'll need to be eligible for membership before you can open any account with it. California Coast Credit Union currently offers the best CD rate of any bank or credit union, with a 9.50% APY on its Celebration Certificate.

Persons: you'll, You'll, they're Organizations: California Coast, Getty, California Coast Credit Union, Credit, Credit Union, Coast Credit, California Coast Credit, California Coast Credit Union FDIC Locations: California, San Diego, Riverside, California Coast

☆ 83% of teenagers are already thinking about retirement — but many make this one mistake
▼ + stars: | 2024-04-22 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

Overall, teenagers are taking a greater interest in their long-term financial health — although far fewer understand basic retirement planning. "This research shows retirement is more top-of-mind for teens than one might think," said Jack Kosakowski, Junior Achievement's president and CEO. Slott recommends opening a Roth individual retirement account to get a head start. Contributions to a Roth IRA are taxed upfront, and earnings grow tax-free. Once contributed, the money inside a Roth IRA account can be invested appropriately to suit any type of long-term goal.

Persons: Jack Kosakowski, Junior, Ed Slott, Slott, Roth, Christopher Jackson's, Jackson Organizations: Junior, Da Vinci Communications High School, CNBC Locations: Southern California

☆ Buy this little-known pharma stock with more than 80% upside ahead, RBC says
▼ + stars: | 2024-04-22 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Ultragenyx Pharmaceutical has several growth opportunities ahead that could lead its share price to boom over the next year, according to RBC Capital Markets. Analyst Luca Issi initiated research coverage of the pharmaceutical company, which develops treatments for rare and ultra-rare diseases, with an outperform rating and $77 price target. Ultragenyx is forecasting between $500 million and $530 million in revenue for 2024, driven by rare bone disease drug Crysvita, long-chain fatty acid oxidation disorder drug Dojolvi, as well as therapies Mepsevii and Evkeeza. The analyst is also looking ahead to Ultragenyx's treatments for Angelman syndrome, Glycogen storage disease type 1, or GSD1a, plus Wilson's disease as potential opportunities to drive up the stock. Wilson's disease is a rare genetic disorder that prevents the body from eliminating copper, which then leads it to accumulate in the liver, brain and other organs.

Persons: Luca Issi, Issi, Issi's, Issa, GSD1a Organizations: Ultragenyx Pharmaceutical, RBC Capital Markets, U.S . Food, Drug Administration

☆ Here's what to know before withdrawing funds from inherited individual retirement accounts
▼ + stars: | 2024-04-22 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

If you've inherited an individual retirement account since 2020, you could have a shorter timeline to withdraw the money, which can trigger tax consequences. But there are a few things to consider before emptying an inherited account, experts say. Under the Secure Act of 2019, so-called "non-eligible designated beneficiaries," have a 10-year window to deplete an inherited IRA. Non-eligible designated beneficiaries are heirs who aren't a spouse, minor child, disabled or chronically ill. Certain trusts may also fall into this category. They just want the money," said individual retirement account expert and certified public accountant Ed Slott.

Persons: you've, RMDs, Ed Slott Organizations: IRS, Finance

☆ Consumers may soon get access to a share of $8.8 billion in Inflation Reduction Act home energy rebates
▼ + stars: | 2024-04-22 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

The IRA splits $8.8 billion in total rebate funding between two programs: the Home Efficiency Rebates program and the Home Electrification and Appliance Rebates program. The Home Electrification and Appliance Rebates program The Home Electrification and Appliance Rebates program pays consumers a maximum amount of money for buying specific technologies and services, Saul Rinaldi said. Home Efficiency Rebates program Conversely, the Home Efficiency Rebates program is technology-neutral, Saul Rinaldi said. Larger rebates flow to those who cut more energy, Saul Rinaldi said. In this way, the Home Efficiency Rebate's value can technically exceed that of the Home Electrification and Appliance Rebates program, Zelmar said.

Persons: Zelmar, Jan, Biden, Kara Saul Rinaldi, Saul Rinaldi Organizations: Energy Department, AnnDyl, U.S . Department of Housing, Urban Locations: Arizona , California , Colorado , Georgia, Hawaii , Indiana , Minnesota , New Hampshire , New Mexico , Oregon, Washington, Georgia, Oregon , Indiana, New Mexico

☆ I hired a life coach for $400 a month and finally understand what it means to 'invest in yourself.' It's the best money I've ever spent.
▼ + stars: | 2024-04-20 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +5 min

Hiring a life coach at age 31 and understanding what it means to 'invest in yourself'While I wasn't actively seeking advice in my 20s, my job as a personal finance reporter meant I was regularly surrounded by money, career, and life advice. My job involved talking to financial planners about smart money moves and to self-made millionaires about how to build wealth. Courtesy of Kathleen ElkinsIn August 2023, weeks after turning 31 and after a nine-year hiatus from having a coaching figure in my life, I hired a life coach. How is a life coach different from a therapist? It's the easiest money I "spend" every month because it doesn't feel like spending — it feels like (and is) an investment.

Persons: —, I'd, didn't, wasn't, It'll, Bill Gates, …, Kathleen Elkins, we've, He's, — aren't Organizations: Service, Business, IRA Locations: Boston

☆ Graham Sutherland’s study for the portrait Winston Churchill hated goes up for auction
▼ + stars: | 2024-04-19 | by ( Caitlin Chatterton | ) edition.cnn.com time to read: +7 min

Churchill is talking about his own portrait, commissioned to celebrate his 80th birthday, as it is unveiled in London’s Westminster Hall in November 1954. This painted study of Churchill by Sutherland, made in preparation of the portrait, is up for auction for the first time. Tristan Fewings/Getty Images for Sotheby'sWhile “The Crown” is not a documentary, it is true that the 80th birthday portrait —described by Churchill as “filthy and malignant” in a letter to his personal doctor — was burned. “(Sutherland) caught him in a much more relaxed, intimate way,” Zlattinger said of the study, a small canvas painted in oils. Graham Sutherland, seen with his-then unfinished but eventually much-maligned portrait of Churchill.

Persons: it’s, ” Winston Churchill, John Lithgow, Graham Sutherland, Stephen Dillane, ”, Churchill, ” Sutherland, “, Judas, Churchill’s, Clementine, Harriet Walter, Sutherland, Tristan Fewings, —, ” Andre Zlattinger, “ He’d, He’d, Churchill —, Alfred Hecht, ” Zlattinger, Hatshepsut of, Baron, Queen Elizabeth I, Robert Blyth ,, Elizabeth “, Queen Victoria, Elizabeth, Ira B, Nadel, ” Blyth, Elizabeth I, Blyth, ” Dr Caroline Rae, Stalin, ” Bryn Sayles, Jacob Epstein, Alexis Schwarzenbach, Queen Elizabeth, King George VI, Queen Elizabeth II, Cecil Beaton, Sayles, Gary Oldman’s Organizations: CNN, Hall, Modern, Irish, Sotheby’s New, Royal Museums Greenwich, Art, University College London, Conservative Party Locations: Sotheby’s, Sotheby’s New York, London, Sutherland, Queen, Downing, Suez, Blenheim, Oxford, New York, British, Swiss

☆ Self-made millionaire who retired at 35 shares his No. 1 money regret: I was doing the 'bare minimum'
▼ + stars: | 2024-04-19 | by ( Ryan Ermey | ) www.cnbc.com time to read: +2 min

The 42-year-old retired from his corporate job in 2016 with about $900,000, a total that market gains soon pushed over $1 million. 'At least I was doing that'Adcock recalls his early 20s as a time where he was doing the "bare minimum" financially. "Thanks to [advice from] my dad, I contributed enough to get the match in my 401(k) — that was literally free money." By contributing enough in his 401(k) to receive a full match, Adcock was theoretically earning a 100% return on his money. 'We wanted to achieve early retirement as quickly as possible'

Persons: You'd, Steve Adcock, he'd, Adcock, Roth, Adcock's Organizations: Roth IRA, IRA Locations: Arizona

☆ Gen Zers can't always afford to have fun. Here's how I budget my $80,000 salary to save for a house and still enjoy my 20s.
▼ + stars: | 2024-04-19 | by ( Charissa Cheong | ) www.businessinsider.com time to read: +6 min

It's not necessarily that I'm spending less money, but I'm way more intentional about how I spend it. But my generation has to choose between these things; having fun in your 20s is harder now. Sandke said she wants to enjoy her 20s and she builds fun activities into her budget. My savings also go toward fun things I'm looking forward to in the near future. I want to look back on my 20s and feel I was responsible with my money and had fun.

Persons: —, Emma Sandke, I've, It's, Sandke, Roth, I'm Organizations: Service, Business, Boston Locations: Boston

Although Leslie has been chipping away at her student loan debt for about 15 years, she says it's been worth it in order to pursue her passion. Leslie used her DoorDash side hustle to help pay down her student loan debt. Leslie used her early DoorDash earnings to eliminate her car loan, then began throwing the rest at her remaining student loan balance. "It was really important that I got a lot of my student loan debt taken care of because then I was able to dedicate that back into myself and my health and my mental wellness," she says. Working toward a debt-free futureAlthough Leslie says her student loan debt is at a more manageable level, she plans to continue working part-time as a DoorDash delivery driver for now.

Persons: Shonnita Leslie, Leslie, it's, It's, Roth, she'll Organizations: CNBC, Public, Fi Insurance, Hulu, Roth IRA Locations: Connecticut, Houston , Texas, Houston, Leslie's, Texas, DoorDash

☆ What's so great about Australia's retirement plan — and what it means for America
▼ + stars: | 2024-04-16 | by ( Allie Kelly | ) www.businessinsider.com time to read: +8 min

Australia's superannuation system mandates employer-funded retirement contributions. Meanwhile, the US retirement system has become anxiety-inducing for many, as older adults struggle to make ends meet. AdvertisementAustralian retirement system puts saving responsibility on employers, not employeesAmerica's current retirement infrastructure includes two major categories: defined contribution plans and Social Security. This differs from the American system, where retirees' money is often held between a 401(k), other accounts, and outside investments. Still, Reilly cautioned that applying Australia's retirement system to the US could negatively affect employee wages.

Persons: —, Sen, Bernie Sanders, Catherine Reilly, Reilly, Larry Fink, Fink Organizations: Service, Challenger Limited, Money, TIAA Institute, Georgetown University's Center for Retirement, Social Security, BlackRock, Employers, Pew Charitable Trust Locations: Australia, America, California, Colorado

I like putting money in CDs, and one option that will help long-term with taxes is a SEP IRA CD. I started moving money between high-yield savings accounts, CDs, and other passive income-earning investments like REITs and dividend stocks. Interest and earnings from savings accounts, CDs, and other investments are considered taxable income. Instead, after paying my taxes, I reassess how much money of interest income I actually made and decide how to use the cash then. However, unlike a regular CD, CDs in your retirement fund have contribution limits set by the IRS.

Persons: — Organizations: Service, IRS

☆ Bill Gross says this income play is ‘Better than AI.’ How you can get in on it
▼ + stars: | 2024-04-09 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Energy prices are surging, and an income-oriented play is getting some love from legendary investor Bill Gross. Better than AI," noting that these master limited partnerships have climbed by double-digits in the past 12 months. MLPs offer investors a way to bet on the exploration, transport and processing of oil and gas. Though the partnership isn't subject to federal income tax, the limited partners face taxes on the income they collect. That means MLP investors could find themselves going on extension to file returns: In that case, they could file their returns as late as Oct. 15.

Persons: Bill Gross, Gross, Stephen Ellis, Ellis Organizations: West Texas, Brent, American Pipeline, NuStar Energy, Morningstar, midstream, Enterprise Products Partners, Targa Resources, Energy, Partners, . Gas, . Enterprise Products, MLP Locations: Asia

☆ Simon Harris becomes Ireland’s youngest-ever leader
▼ + stars: | 2024-04-09 | by ( Rob Picheta | ) edition.cnn.com time to read: +7 min

CNN —Simon Harris has become the youngest-ever prime minister of Ireland, officially taking office in Dublin on Tuesday after Leo Varadkar suddenly stepped down last month. Harris, 37, ran unopposed to replace Varadkar as leader of the ruling Fine Gael party, and the final formalities of his rise to power were completed in the Dáil, Ireland’s parliament. And we are seeing innocent children, women, and men being starved and slaughtered,” Harris told lawmakers in the Irish parliament. The son of a taxi driver, born in eastern Ireland, Harris studied journalism and French at a Dublin university but dropped out to instead focus on politics. As health minister, Harris was prominent when Ireland voted to legalize abortion.

Persons: CNN — Simon Harris, Leo Varadkar, Harris, Varadkar, Sinn Fein, Israel, “, ” Harris, Fine, ”, Brian Lawless, Simon Harris ”, “ chillax, “ Didn’t, chillax, …, Jennifer Bray, Enda Kenny, Harris’s Organizations: CNN, Ireland, Fine Gael, Irish Republican Army, Irish, Hot Press, Varadkar, Twitter, “, Sky News Locations: Dublin, Ireland’s, Ireland, Gaza, “, Northern Ireland

☆ I drove the 2024 Tesla Model 3. It's a big improvement from older versions, but the Model Y is still the better buy.
▼ + stars: | 2024-04-09 | by ( Andrew Lambrecht | ) www.businessinsider.com time to read: +8 min

Andrew Lambrecht, who owns a 2019 Tesla Model 3, test drove the new 2024 Model 3. He says the more spacious Model Y, which is still eligible for a tax credit, is the better buy. Given the Model 3's relatively long lifecycle without any significant updates, the refreshed 2024 Model 3 has been long-awaited. The Model 3's new lookThe nose of the 2024 Tesla Model 3. Andrew LambrechtThe 2024 Tesla Model 3 is a massive improvement over the outgoing one.

Persons: Andrew Lambrecht, —, Tesla Charlotte, you've, Tesla Organizations: Tesla, Service, Audi

☆ Credit Card Companies Are About to Invent New Fees for Consumers
▼ + stars: | 2024-04-07 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

Some of those annoying fees on your credit card may soon be getting smaller. Banks and credit-card companies are almost certainly trying to figure out where else they squeeze money out of you. The response to the interchange-fee settlement has been a bit more muted: The Electronic Payments Coalition, which represents Visa, Mastercard, and other credit-card companies, said it was OK with the swipe-fees cap. Taken together, it's clear that many companies in the credit-card business would rather not be dealing with this situation. According to the Merchants Payments Coalition, Mastercard is now planning to increase different credit card fees soon, it's "network assessment" fee.

Persons: Banks, Matt Schulz, JPMorgan Chase, Mark Elliot, Doug Kantor, Mark Mason, Rich Fairbank, We've, it's, Ira Rheingold, Amanda Jackson, Emily Stewart Organizations: Consumer Financial, Mastercard, Visa, Bank Policy Institute, Electronic Payments Coalition, UBS, JPMorgan, American Express, National Association of Convenience Stores, Merchants Payments Coalition, Capital, JPMorgan Chase, National Association of Consumer, Companies, Financial Reform, Business

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