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☆ Why a $100,000 income no longer buys the American Dream in most places
▼ + stars: | 2024-04-16 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +1 min

"The benchmark of a six-figure salary used to be the gold standard income," Sabrina Romanoff, a clinical psychologist, told CNBC. "It represented the tipping point of finally earning a disposable income and building savings and spending based on your wants, not just your needs." "It becomes increasingly hard for many families to be able to attain that sort of middle-class lifestyle, that American Dream," Gould said. Consumers using the popular 50-30-20 budget guideline aim to spend 50% of their income on essential expenses, with another 30% for discretionary spending and the remaining 20% for savings. Using that framework, GoBankingRates found that all 50 states require more than a $100,000 annual income, according to the report, with 38 states needing more than $140,000.

Persons: Sabrina Romanoff, haven't, Elise Gould, Gould, GoBankingRates, Jason Reginato Organizations: CNBC, SurveyMonkey, Economic Policy Institute, Consumers

☆ 95% of Americans plan to look for a new job in 2024, survey finds — Here's how to switch strategically
▼ + stars: | 2024-03-29 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +1 min

A majority of Americans, 95%, said they plan to look for a new job this year, according to a January 2024 survey by job site Monster. Money is a big reason, with 45% of workers saying they need a higher income. Data from the Federal Reserve shows that job switchers increase their salaries more quickly, on average, than those who stay put. The first time she switched jobs, she took a $20,000 pay cut in order to gain experience. Abdul told CNBC she continued to grow her salary through promotions and other job hops.

Persons: Kyyah Abdul, I've, Abdul, She's Organizations: Federal Reserve, Finance, CNBC Locations: Los Angeles

☆ In some states, it's 'nearly impossible' to buy a home that isn't part of a homeowners association, expert says
▼ + stars: | 2023-10-31 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +8 min

These communities are usually overseen by homeowners associations. Homeowners associations, also known as HOAs, are self-governing organizations that implement rules for homeowners and renters within common-interest communities. The board may choose to hire a management company, many of which are for-profit, to help run day-to-day operations. Roughly 84% of newly built, single-family homes sold in 2022 belonged to homeowners associations, according to the U.S. Census Bureau. "But it seemed like [the deal] never got to the management [company] or homeowners association," Enrique Inostroza said.

Persons: Jewel Inostroza, Enrique, Gen Z, it's, Deborah Goonan, Inostroza, Enrique Inostroza, Mark Licea, HOA, Bradley, Tom Skiba, Skiba, Steve Horvath Organizations: Homeowners, Finance, . Census, Communities, CNBC, Management, HOA, Sentry Management, Community Associations Institute, Economics, Rocket Mortgage, HOA United Locations: Newnan , Georgia, HOA, U.S

☆ U.S. debt is nearly $33 trillion. But some economists say not all debt is bad.
▼ + stars: | 2023-09-10 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +3 min

The U.S. national debt is sitting at nearly $33 trillion dollars. "The public debt has always been used for emergencies. The national debt increased by more than 89% since the beginning of the pandemic, with many top economists in agreement that 2020 was not the time to worry about the debt. Servicing the debt can become difficult when interest rates are higher. The Federal Reserve has been increasing interest rates since March 2022 with the goal of slowing down economic activity.

Persons: Kris Mitchener, William Gale, Michael Peterson, Peter G, Lori Esposito, Murray, Stephanie Kelton Organizations: U.S, Leavey School of Business, Santa Clara University, Brookings Institution, Peterson Foundation, Economic Develop, Conference Board, Economic Development, The Conference Board, Federal Reserve, Stony Brook University Locations: U.S

☆ Why insider trading is so difficult to stop
▼ + stars: | 2023-08-10 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +3 min

Martha Stewart was famously accused of insider trading in the early 2000s, but she didn't face criminal insider trading charges. "It is incredibly difficult to prove an insider trading case," said Daniel Taylor, a forensic accounting professor at the University of Pennsylvania. "Insider trading is judge-made law," said John Reed Stark, former head of the Office of Internet Enforcement at the Securities Exchange Commission. The SEC adopted an amendment to a rule that will "enhance investor protections against insider trading." The Department of Justice prosecuted the first insider trading case exclusively based on the rule in March 2023.

Persons: Martha Stewart, Stewart, Daniel Taylor, John Reed Stark, Stark, Justin Paperny, Paperny, I've Organizations: University of Pennsylvania, Internet, Securities Exchange Commission, SEC, Department, Justice, United, White, Department of Justice Locations: United States

☆ Warning labels in the U.S. seem to be everywhere. Here's why they may be pointless
▼ + stars: | 2023-07-23 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +3 min

One of the problems researchers have pointed out is people are desensitized to warning labels because they seem to be everywhere. In December 2022, a federal judge ruled that the U.S. Food and Drug Administration cannot require tobacco companies to put graphic warning labels on cigarettes. When it comes to making sure people are using products safely, consumer protection advocates say warning labels should be a last resort. "And that's the problem with just relying on warning labels. Watch the video above to learn more about why warning labels aren't working and what we can do about it.

Persons: Kip Viscusi, Viscusi, Oriene Shin, that's, Shin Organizations: Vanderbilt University, U.S . Food, Drug, Consumer Locations: U.S

☆ How New York City's sky-high cost of living stacks up to London
▼ + stars: | 2023-06-24 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +1 min

New York tied with Singapore as the most expensive cities in the world in 2022, according to the Economist Intelligence Unit's Worldwide Cost of Living Index. She recently challenged herself to limit her weekly spending to $150, something she's done while living in various cities around the world. Tracking your spending "really makes you conscious of how much you're spending," Wong said. A one-bedroom close to the city center is around $3,700 in New York, according to cost-of-living data collection project Numbeo as of June 21, while a comparable apartment in London would cost roughly $2,600. On top of a bigger rent payment, groceries are nearly 70% more expensive in New York, according to Numbeo.

Persons: Lucy Wong, Wong, Lily Slater Organizations: New York, Economist Intelligence, Index, London, Finance Locations: York, London, Singapore, New Yorker, New York

☆ Wage hikes may have been a key driver of inflation. They may now be fueling mass layoffs
▼ + stars: | 2023-06-01 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +1 min

Central bank officials around the world have said taming inflation is their top priority, but rising prices have turned out to be stickier than originally expected. The U.S. economy saw a pickup in inflation that began in 2021 amid pandemic-induced supply chain issues. This led to record job openings and high turnover as people job hopped for more money and the unemployment rate declined sharply. "But this is an unusual episode where it seems like right now the main driver of inflation is actually labor costs, and what that means actually is that workers are gaining." But there are signs that wage growth is cooling, especially as layoffs have skyrocketed nearly fivefold in 2023 across some industries.

Persons: Laura Veldkamp Organizations: Columbia Business School Locations: U.S

☆ How UnitedHealth Group grew bigger than the nation's biggest banks
▼ + stars: | 2023-05-20 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +3 min

UnitedHealth Group has the highest price per share of any company on the Dow Jones Industrial Average and it's the tenth heaviest-weighted stock on the S&P 500. In fact, not only is UnitedHealth the biggest health-care conglomerate in the United States based on market cap and revenue, it's even bigger than JPMorgan Chase, the nation's largest bank. "If I had to pick one stock, only one stock to buy, I'd buy United[Health]," said Ana Gupte, principal at AG Health Advisors. "UnitedHealth Group is committed to improving the health system for everyone, advancing evidence-based practice and aligning incentives across the system to ensure people get the right care at the right time in the right place," UnitedHealth Group told CNBC. Watch the video above to learn how UnitedHealth Group grew so big and what that means for the U.S. health-care system.

☆ Why U.S. vacation policies are so much worse than Europe's
▼ + stars: | 2023-04-19 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +2 min

The United States is the only advanced economy that does not guarantee paid time off. The European Union Working Time Directive, which was passed in the early 1990s, requires at least 20 working days of paid vacation in all EU countries. France provides a minimum of 30 paid vacation days per year. What's more, many European countries have paid holidays as well, giving workers there even more paid days off. “When I came to France, I noticed that vacation is a way of life,” said Fatima Cadet-Diaby, an American who has been living in Paris for nearly seven years.

☆ Here's why IRS tax audits have declined over the past decade
▼ + stars: | 2023-04-01 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +2 min

Tax season is upon us, and along with it comes the ensuing bout of paranoia about the dreaded IRS audit. In 2022, the IRS audited 3.8 out of every 1,000 income tax returns. The GAO report concludes that a drop in IRS funding was a main contributor to the decline in audits. Janet Holtzblatt senior fellow at the Urban-Brookings Tax Policy CenterAbout 70% of the IRS's overall budget is spent on labor. "Someone who's three years out of college isn't going to be doing the technical work on the ExxonMobil tax return.

☆ Here's why more than 60% of Fortune 500 companies are incorporated in Delaware
▼ + stars: | 2023-03-13 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +2 min

But it's home to more than 60% of Fortune 500 companies, the state says, including Google parent company Alphabet, Amazon, CVS Health, and CNBC parent company Comcast. One of Delaware's major advantages is its Court of Chancery, which is a separate court system specifically for handling corporate cases. "It's a misnomer that Delaware is a tax haven for corporations," said Gigi Tewari, assistant professor at Widener University Delaware Law School. "So many people believe that, I should incorporate my business in Delaware because I'm going to save so much on corporate tax. Actually, Delaware is on the higher end for corporate tax."

☆ Here's why American men die younger than women on average and how to fix it
▼ + stars: | 2023-03-01 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +2 min

Men die younger than women in the United States, on average. American women had a life expectancy of 79 years in 2021, compared with men's, which was only about 73, according to CDC data. "Across, basically, almost every major cause of death, men are more likely to die than women are." That means there are some steps we can take to work toward helping men live longer. Watch the video above to learn more about why men die younger on average than women and what we can do to change it.

☆ How Zelle is different from Venmo, PayPal and CashApp
▼ + stars: | 2023-02-04 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +1 min

More than half of smartphone users in the U.S. are sending money via some sort of peer-to-peer payment service to send money to friends, family and businesses. Stocks of payment services like PayPal, which owns Venmo, and Block, which owns Cash App, boomed in 2020 as more people began sending money digitally. One limitation of PayPal, Venmo and Cash App is that users must all be using the same service. Zelle, on the other hand, appeals to users because anyone with a bank account at one of the seven participating firms can make payments. Watch the video above to learn more about why the banks created Zelle and where the service may be headed.

☆ How health insurance may have made health care more expensive
▼ + stars: | 2023-01-08 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +2 min

Roughly 40% of U.S. adults have at least $250 in medical debt, according to a survey conducted by Kaiser Family Foundation. There are many complicated reasons for the rise in the cost of care such as not prioritizing preventive care or a lack of price transparency, but one of the biggest catalysts for inflation was the rise of health insurance. In the early 2000s, federal legislation led to a major restructuring of how insurance plans shared costs, with the 2003 Medicare Modernization Act spurring a boom in high-deductible health insurance plans. A deductible is the amount a policyholder has to pay upfront before their health insurance plan kicks in. Watch the video above to learn more about how medical debt became so common in the U.S. health care system and what we can do to change it.

☆ Skyrocketing demand for ADHD meds is straining the U.S. health care system
▼ + stars: | 2022-12-07 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +4 min

ADHD diagnoses and prescriptions have been increasing across all age groups since before the days of social media. The number of ADHD diagnoses in 2010 were almost five times what they were in 1999. And between 2007 and 2016, the number of diagnoses of ADHD in adults more than doubled. "I think we've definitely moved into an area of talking about mental health that's really positive. Watch the video above to learn more about the rise in ADHD in the United States and whether the health care system can handle the increase in demand.

☆ Why flu season is so bad this year
▼ + stars: | 2022-11-10 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +2 min

"I'm scared about what's going to happen this flu season because I don't think we've ever seen a coalition of multiple viruses kind of manifesting in this way before," said Dr. Elizabeth Clayborne, an emergency medicine doctor and associate professor at the University of Maryland School of Medicine. If it seems like everyone around you is getting sick, you're not imagining it. The flu season is hitting the United States unusually early and much harder than it usually does. But now that much of America has abandoned preventive measures such as masking, more people are getting sick with seasonal illnesses. Just like RSV, cases of flu started surging earlier this year, with the Centers for Disease Control and Prevention reporting at least 1,600,000 cases, 13,000 hospitalizations and 730 deaths as of Oct. 29, which is high for this early in a typical flu season.

☆ More than 100,000 Americans are waiting for an organ transplant
▼ + stars: | 2022-10-26 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +3 min

There are more than 100,000 people in the United States waiting for an organ transplant, according to the United Network for Organ Sharing, known as UNOS. Only a little more than 50% of people waiting for an organ will receive one within five years, according to UNOS. The industry recognizes the importance of finding alternatives to using organs from deceased human donors to address the national shortage. "Even though we're all fascinated by transplant, the ultimate goal is to get rid of it," Caplan said. Watch the video above to learn more about how the organ transplant system works and what we can do to increase supply while also addressing the inequalities.

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