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☆ This is the easiest way for newbies to start investing, financial experts say
▼ + stars: | 2024-03-18 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

For many people, investing is a necessity to grow one's savings and provide financial security in retirement. A 'fabulous, simple solution' for beginnersTarget-date funds, known as TDFs, are the simplest entry point to investing for the long term, according to financial pros. TDFs are based on age: Investors choose a fund based on the year in which they aim to retire. Other 'solid choices' for novice investorsInvestors who want to be a bit more hands-on relative to TDF investors have other simple options, experts said. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ.

Persons: Warren Buffett, Berkshire Hathaway, Christine Benz, Lee Baker, Baker, Carolyn McClanahan, Benz, Charles Schwab, Rowe Price, it's, McClanahan Organizations: Getty, Berkshire, Fidelity Investments, Morningstar, Apex Financial Services, Investors, Benz, Planning Partners, Fidelity, Vanguard Group, BlackRock, Finance, Young Locations: Atlanta, Jacksonville , Florida, U.S

☆ Nearly half of young adults have 'money dysmorphia,' survey finds. Here are the symptoms
▼ + stars: | 2024-03-13 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Overwhelming evidence suggests social media has a negative impact on self-esteem. That's not only true for how people feel about their appearance and social status but also their financial wellbeing and economic standing. "Money dysmorphia is kind of like today's version of keeping up with the Joneses," said Courtney Alev, consumer financial advocate at Credit Karma. Not surprisingly, money dysmorphia is even more prevalent among younger generations, according to Credit Karma. Many of those who experience money dysmorphia have above-average savings, Credit Karma also found.

Persons: That's, Credit Karma, Courtney Alev, dysmorphia, Carolyn McClanahan, Karma, Alev Organizations: Credit, Finance, Planning Partners Locations: Jacksonville , Florida

☆ Climate Change and ‘Last-chance Tourism’
▼ + stars: | 2024-03-03 | by ( Desiree Ibekwe | ) www.nytimes.com time to read: +1 min

A lot of climate discussion revolves around time. Lines rise across charts predicting the next century. As the Earth warms, natural wonders — coral reefs, glaciers, archipelagos — are at risk of damage and disappearance. This has motivated some travelers to engage in “last-chance tourism,” visiting places threatened by climate change before it’s too late. (Early tourists included Mary Shelley and Mark Twain.)

Persons: it’s, ” Paige McClanahan, Mary Shelley, Mark Twain Organizations: Times Locations: Glace, French

☆ Unemployment benefits, emergency savings. Here's how to get by without a paycheck after a job loss
▼ + stars: | 2024-02-26 | by ( Annie Nova | ) www.cnbc.com time to read: +3 min

"Job loss is extremely traumatic, but it is important to remember that it is not the end of the world," said Michele Evermore, a senior fellow at The Century Foundation. The average weekly benefit ranges greatly between states, Evermore said. Job loss is extremely traumatic. Michele Evermore a senior fellow at The Century FoundationWhether or not the package affects your unemployment benefits depends on your state's rules, Evermore said. Strategize which savings to tap, in what orderHopefully you have an emergency savings fund to draw from, Curtis said.

Persons: Michele Evermore, Evermore, you've, Carolyn McClanahan, McClanahan, Curtis Organizations: Google, Microsoft, Paramount, CNBC, The Century Foundation, The Century, Employment Security Department, Planning Partners, CNBC's Locations: New York, Washington, Jacksonville , Florida

☆ Here's how to reduce your health-care costs during Medicare Advantage open enrollment
▼ + stars: | 2024-02-16 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

Certain retirees can now change their health coverage during Medicare Advantage open enrollment, which runs until March 31. Medicare Advantage is health coverage provided through private companies that are paid by Medicare to cover your benefits. If you're already on a Medicare Advantage plan, you can take advantage of the open enrollment period to switch to another Medicare Advantage plan or drop your Medicare Advantage plan and switch to original Medicare and perhaps also a separate Medicare drug plan. However, those enrolled in Medicare Advantage may need lower savings targets, the research found. Medicare open enrollment periods can be an opportunity to identify potential ways to save.

Persons: Carolyn McClanahan, McClanahan Organizations: Medicare, Finance, Social Security, Research Institute, Planning Partners, CNBC FA Locations: Jacksonville , Florida

☆ If you want to age in place in retirement, experts say these are the things you should consider
▼ + stars: | 2024-02-03 | by ( Lorie Konish | ) www.cnbc.com time to read: +6 min

Westend61 | Westend61 | Getty ImagesThere's no place like home — especially as you age. "People might say, 'I want to age in place as the default plan, because that's what I'm already doing,'" said Carol Chiang, CEO of Evolving Homes, a company providing personalized consulting for individuals and families who want to age in place. The costs of the upgrades necessary to age in place can vary, experts say. Chiang said she has seen the prices of bathroom upgrades vary within Florida, where her practice is based. To make sure your home upgrades are successful, experts say it's wise to keep several things in mind.

Persons: I'm, Carol Chiang, Chiang, Carolyn McClanahan, Curt Kiriu, Kiriu, there's, Thomas West Organizations: Westend61, Getty, AARP, Finance, Social Security, CNBC's FA, CK, Builders, National Association of Home Builders, Signature Estate, Investment Advisors Locations: CNBC's, Florida, Mililani, Hawaii, Oahu, Tysons Corner , Virginia

☆ The 'mob wife' trend takes over after quiet luxury — and it's easier on the wallet
▼ + stars: | 2024-02-02 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

James Gandolfini as Tony Soprano and Edie Falco as Carmela Soprano seek counseling in HBO's hit television series, "The Sopranos" (Year 3). HBO | Hulton Archive | Getty ImagesQuiet luxury is out and the 'mob wife' era is in, according to Kayla Trivieri's viral TikTok video. Think: Carmela Soprano in HBO's "Sopranos," cheetah print and lots of eye liner. How we got to the 'mob wife' eraHow to achieve the 'mob wife' lookAlthough the character Carmela Soprano wasn't necessarily frugal, appropriating her style costs a lot less than the quiet luxury looks that emerged after Gwyneth Paltrow's ski accident trial last March. watch nowToday's 'mob wife' aesthetic is less about cashmere sweaters and camel-hued coats and more about bold accessories such as gold hoop earrings, a leopard print jacket or vintage fur.

Persons: James Gandolfini, Tony Soprano, Edie Falco, Carmela Soprano, Kayla Trivieri's, HBO's, Thomaï Serdari, University's, Carmela Soprano wasn't, Gwyneth Paltrow's, Paltrow, Celine, Prada, Carolyn McClanahan Organizations: HBO, University's Stern School of Business, Planning Partners Locations: New, thrifting, Jacksonville , Florida

☆ 'How much am I willing to change my lifestyle?'—and 4 other money questions to ask yourself before having kids
▼ + stars: | 2024-01-31 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +3 min

Her mix of expertise in money and health give her unique insight into the financial stressors that come with having a baby. Here are five questions she says every person should ask themselves before deciding to have children. The average cost of a vaginal birth in a hospital without health insurance is $13,024, according to data from ValuePenguin. With health insurance, having a baby in a hospital could cost up to $8,224, depending on what type of insurance you have. "If you love to travel, now you'll have to bring extra people along and it's a lot of money," McClanahan says.

Persons: Carolyn McClanahan, McClanahan, you'll Organizations: Planning Partners, OB

☆ Will My Next Trip Be by Train Instead of Plane?
▼ + stars: | 2024-01-18 | by ( Paige Mcclanahan | ) www.nytimes.com time to read: +1 min

Train lovers and travelers concerned about their carbon footprint have a lot to choose from this year — especially in Europe. While some European governments are mulling short-haul flight bans, many passengers are already opting for rail, where new connections are numerous. Nightjet, part of the Austrian federal railway, ÖBB, started running a sleeper train between Berlin and Paris in December, while the French rail operator, S.N.C.F., started overnight service between Paris and Aurillac, in south-central France, the same month. And the Italian rail operator Trenitalia has recently started running a weekly high-speed connection between Rome and the station serving the Pompeii archaeological park. Other new European connections include a sleeper service between Brussels and Prague, coming in late March, and an overnight train between Brussels and Bratislava, Slovakia, expected late this year or early next.

Persons: Trenitalia Organizations: Orient, Accor Locations: Europe, Austrian, ÖBB, Berlin, Paris, Aurillac, France, Vienna, Nice, Rome, Brussels, Prague, Bratislava, Slovakia, Barcelona, Madrid, Milan, Ljubljana, Slovenia, Italy, Palermo, Portofino, Siena

☆ A city famous for its beaches is helping residents age in place. What to know if you want to stay in your home
▼ + stars: | 2024-01-14 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

About 10,000 baby boomers are expected to turn age 65 every day until 2030. An estimated 70% of those individuals will need long-term care services at some point, according to Genworth Financial. 'Forever grateful' for communitySylvia Bradshaw, an 84-year-old Laguna Beach resident who moved to the city in 1983, describes it as "paradise." "Anything that I've needed, I've gotten help," Bradshaw said. That has included help sorting through insurance choices, legal advice, transportation assistance and classes and social events, said John Bradshaw, Sylvia's son.

Persons: Laguna Beach , California Luciano Lejtman, Jessica Lautz, Lautz, Sylvia Bradshaw, Bradshaw, it's, Redman, I've, John Bradshaw, Sylvia's, John, Carolyn McClanahan, McClanahan, Tom West Organizations: Getty, National Association of Realtors, Laguna Beach, Planning Partners, Signature Estate, Investment Advisors Locations: Laguna Beach , California, Laguna, Ireland, Laguna Beach, Jacksonville , Florida, Tysons Corner , Virginia

☆ A 401(k) rollover is 'the single largest transaction' many investors make, expert says. What to know before doing it
▼ + stars: | 2023-12-05 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

That's largely because IRA investors are "retail" investors while 401(k) savers often get access to more favorable "institutional" pricing. "Are you able to pay less by staying in your 401(k) plan?" The bottom line: Compare annual 401(k) fees — like investment "expense ratios" and administrative costs — to those of an IRA. And your current employer may not accept rollovers into your 401(k) from a previous employer's plan. Many 401(k) plans may not allow retirees as much flexibility.

Persons: Ellen Lander, Lander, Carolyn McClanahan, Ted Jenkin, Jenkin, you'd Organizations: Investment, IRA, Renaissance, Planning Partners, CNBC's FA, of America, Company, Workers Locations: IRAs, Jacksonville , Florida, CNBC's, Atlanta

☆ Here are some last-minute options to spend down your flexible savings account ‘use-it-or-lose-it’ funds
▼ + stars: | 2023-12-01 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

It's common for workers to not know what their employer's FSA rules are. Stock up on over-the-counter medications The CARES Act of March 2020 removed prescription requirements to use FSA funds for many over-the-counter medicines. Buy certain skin care products You can use your FSA savings for eczema-approved creams and lotions. Plan ahead for a new baby New and expectant parents can use their FSA funds for baby products such as diaper rash cream, baby breathing monitors and baby sunscreen. How to use FSA funds wisely

Persons: Tom Werner, Digitalvision, Carolyn McClanahan, Jake Spiegel, you've Organizations: Getty, Planning Partners, CNBC's, Research, CNBC, Invest, Garmin, IRS Locations: Jacksonville , Florida

☆ Here are some key open enrollment tips and strategies for employees
▼ + stars: | 2023-11-07 | by ( Annie Nova | ) www.cnbc.com time to read: +9 min

Jimvallee | Istock | Getty ImagesOpen-enrollment workplace checklist ✔ Health insurance ✔ Savings and spending accounts ✔ Dental and vision plans ✔ Life insurance ✔ Disability insurance ✔ Retirement savings ✔ Beneficiary selection1. If your spouse has their own health insurance option at work, you'll want to both sit down and compare the different offerings. Many employees will notice that the health insurance plans offered by their company don't include dental and vision coverage. Consider life, disability insuranceDuring open enrollment, employees will typically also be presented with different disability and life insurance options. Short-term disability coverage is very limited, she said: "Everyone needs long-term disability coverage unless they have enough savings that they could basically retire if they can't work anymore."

Persons: Caitlin Donovan, Gruber, Jean Abraham, Warby Parker, Pat Greenhouse, Abraham, Donovan, you'll, Jonathan Gruber, Louise Norris, Norris, Carolyn McClanahan, McClanahan, Ryan Viktorin, Viktorin Organizations: Istock, Getty, Savings, Patient Advocate, University of Minnesota, Harvard, Boston Globe, Massachusetts Institute of Technology, IRS, Healthinsurance.org, Planning Partners, CNBC's, Pew Research Center, Partners, Fidelity Investments Locations: Cambridge , Massachusetts, Jacksonville , Florida

☆ A meteoric rise in worker health costs has slowed — but they’re already 'egregious,' advisor says
▼ + stars: | 2023-11-06 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Employer-sponsored health plans have many moving parts that can affect workers' wallets. Workers pay $1,401 in total premiums in 2023, up 18% from 2018, according to KFF, a nonprofit health-care data provider. (This cost is for employer-sponsored health plans and assumes consumers receive in-network care.) That has led employers to make their health plans more competitive to attract and retain staff. One in four employers report being highly concerned about the affordability of cost-sharing within their health plans, according to KFF.

Persons: it's, Carolyn McClanahan, Matthew Perry's, Matthew Rae, Rae, KFF, That's, It's, that's, McClanahan, doesn't Organizations: Planning Partners, Finance, Security, Workers, Digitalvision Locations: Jacksonville , Florida

☆ Here are 4 ways health savings accounts can be used to pay insurance premiums
▼ + stars: | 2023-10-26 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

COBRA coverage typically allows consumers to keep the same health-care providers, but the coverage is often pricey. With COBRA coverage, however, individuals may have to cover the full premium, up to 102% of the cost to the plan. Premiums while on unemploymentHealth premiums paid by someone receiving unemployment compensation under federal or state law are also eligible. These might be premiums for COBRA or a health plan purchased over an Affordable Care Act marketplace, for example. Medicare beneficiaries don't have to pay their premiums directly with an HSA to get the benefit.

Persons: they'd, Carolyn McClanahan, it's, —, — aren't, McClanahan, There's, isn't Organizations: IRS, Affordable, Bank, Getty, Social Security Locations: Jacksonville , Florida

☆ Picking health insurance can be tricky: 6 key terms to know as open enrollment starts
▼ + stars: | 2023-10-24 | by ( Greg Iacurci | ) www.cnbc.com time to read: +8 min

PremiumsFrederic Cirou | Photoalto | Getty ImagesThe premium is the sum you pay an insurer each month to participate in a health plan. It's perhaps the most transparent and easy-to-understand cost component of a health plan — the equivalent of a sticker price. The average co-insurance rate for consumers is 19% for primary care and 20% for specialty care, according to KFF data. For example, would you struggle to pay a $1,000 medical bill if you require health care? If so, a health plan with a larger monthly premium and a smaller deductible may be your best bet, Sun said.

Persons: Frederic Cirou, Karen Pollitz, Luis Alvarez, you've, KFF, Pollitz, McClanahan, there's, Winnie Sun, She's, Sun, Carolyn McClanahan Organizations: Sdi, Photoalto, Kaiser Family Foundation, CNBC, Digitalvision, Getty, Kaiser Family Foundation Health, Network Health, Sun Group Wealth Partners, CNBC's FA Locations: Aetna, Irvine , California, CNBC's

☆ Holiday shoppers are bracing for more financial strain this year. Here are 3 ways to prepare
▼ + stars: | 2023-10-04 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

To that point, many are already getting ahead of holiday expenses. Half of holiday shoppers plan to begin, or have already begun, making purchases before Halloween, according to Bankrate. "The fact that deals start early allows you to research the best options and spread out your cashflow," said Rossman. Overall, think through what your gift-giving budget should be ahead of time so it doesn't create a financial strain. 3 ways to get ahead of holiday spendingwatch now

Persons: David Paul Morris, Hopper, Hayley Berg, Carolyn McClanahan, who's Organizations: Bloomberg, Getty, CNBC, Amazon, Walmart, Planning Partners, CNBC's FA Locations: Jacksonville , Florida, CNBC's

☆ A government shutdown will stop 'bread-and-butter mental health care' at community health centers, expert says
▼ + stars: | 2023-09-29 | by ( Aditi Shrikant | ) www.cnbc.com time to read: 1 min

Lawmakers are still in a gridlock over how to allocate spending, which means a government shutdown is imminent. One of those services is federally funded community health centers, or FQHCs. These clinics provide primary care, but also mental health and dental care, to mainly uninsured or underinsured people. Dental and mental health care are often the first to be cut, says Carolyn McClanahan, a physician turned certified financial planner and founder of Life Planning Partners in Jacksonville, Florida. "The shutdown is going to stop the bread-and-butter mental health care that keeps people out of trouble," she says.

Persons: Carolyn McClanahan Organizations: Planning Partners Locations: Jacksonville , Florida

☆ This account is like an ‘extra strength’ Roth IRA, advisor says. Here's when to use it
▼ + stars: | 2023-09-19 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

That means a saver would generally rarely if ever pay tax on their HSA money, unlike retirement accounts such as a pre-tax or Roth IRA. Because health-care costs are "inevitable" in old age, the HSA functions like "an off-label account for retirement preparation," Vargas said. Anyone who can afford to do so should try to pay out of pocket for current health costs and allow HSA investments to grow, advisors say. The IRS counts qualified medical expenses as those generally eligible for the medical and dental expenses tax deduction. For example, if a saver has credit-card debt, paying that down would take priority over funding an HSA, McClanahan said.

Persons: Carolyn McClanahan, Vargas, Roth, HSAs, they'd, Luis Alvarez, McClanahan, Sabino Vargas Organizations: Maskot, Getty, Roth IRA, IRS, Digitalvision, Workers, Planning Partners, IRA, Vanguard Locations: Jacksonville , Florida

☆ The 'time gap' in unpaid caregiving costs women an extra $321.56 billion a year, report finds
▼ + stars: | 2023-09-13 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

Women spend an average 51.6 minutes a day caring for household children, other household members and nonhousehold members, according to a new analysis from the National Partnership for Women and Families. Men spend an average 26.4 minutes daily on such tasks. On a broader level, unpaid caregiving is worth $305.01 billion a year for men and $626.57 billion for women, the National Partnership for Women and Families estimates. In other words, the caregiving time gap costs women an extra $321.56 billion a year. About 38 million people provided unpaid care to an adult family member or friend in 2021, according to the latest data from AARP.

Persons: Katherine Gallagher Robbins, Caregiving, Carolyn McClanahan, McClanahan Organizations: National Partnership for Women, Partnership for Women, AARP, Planning Partners, CNBC, U.S . Bureau of Labor Statistics Locations: Jacksonville , Florida

☆ Start an 'opportunity fund' for goals that will bring you happiness, experts say. Here's why
▼ + stars: | 2023-09-12 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

Identifying such opportunity fund goals can be a financial wake-up call. Carolyn McClanahan, a CFP and founder of Life Planning Partners in Jacksonville, Florida, said she gives a talk titled, "Are you happy now?" To find ways to build an opportunity fund to improve your life, three tips may help. From there, start to identify what kind of contributions you may need to help achieve your goals. However, McClanahan said it can be OK to keep liquid funds for both emergencies or near-term life goals together.

Persons: Weiss, Carolyn McClanahan, McClanahan Organizations: Getty, Planning Partners, CNBC FA Locations: Jacksonville , Florida

☆ An overnight locksmith can cost $400. Here's how much you might have to fork over for other emergencies
▼ + stars: | 2023-09-08 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

Their most common approach, instead, was to put the emergency expense on a credit card and pay it over time. If you do use your credit card, make sure you prioritize paying off the balance in full by the end of the month, she added. "Use your credit card as a 30-day bridge, but commit to paying that off," she said. HELOCs interest rates are generally lower than credit card interest rates. However, they tend to be variable interest rates, so you don't want to use it if you don't have to, McClanahan said.

Persons: Winnie Sun, Tiger Woods, Frederic J, Brown, Power, Tom Grill, Angi, Carolyn McClanahan, McClanahan Organizations: Federal Reserve, Sun, Wealth Partners, CNBC FA, AFP, Getty, Planning Partners Locations: Irvine , California, Rancho Palos Verdes , California, Texas , California, New York, Jacksonville , Florida

Zeljkosantrac | E+ | Getty ImagesWhen it comes to planning for longevity, experts say it helps to envision your future self. A new aging filter trending on TikTok can help make that a reality. Use an aging filter to overcome retirement inertiaA recent Bankrate survey found not saving for retirement early enough is the number one financial regret. Experts say increasing your retirement savings deferral rate just slightly, say by 1%, can make a big difference over time. watch nowThe TikTok aging filter may serve as inspiration, but only if savers take the necessary follow-up steps, experts say.

Persons: Hal Hershfield, Joseph Coughlin, Coughlin, Hershfield, Carolyn McClanahan Organizations: Massachusetts Institute of Technology, University of California, Planning Partners, CNBC Locations: Los Angeles, Jacksonville , Florida

☆ Narcissists can have healthy relationships if they're willing to spend 'six figures,' says psychologist who's worked with dozens
▼ + stars: | 2023-08-24 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +7 min

Experts say the path to healthy relationships for people with NPD or narcissistic personality traits is not impossible, but it's also not easy or affordable. Especially because many insurance plans might not cover specific mental health treatments. But for someone with more demanding mental health problems, the out-of-pocket cost can make treatment prohibitive. "There is a severe shortage of mental health therapists and many don't take insurance, as insurance companies pay very little for mental health therapy," she says. There is a severe shortage of mental health therapists and many don't take insurance.

Persons: Lee Hammock, Hammock, it's, I've, Ramani, Durvasula hasn't, Durvasula, I'm, Carolyn McClanahan, Jessica MacNair Organizations: NPD, Planning Partners Locations: Los Angeles, Jacksonville , Florida

☆ Giants lean on 'pen again in bid for series win over Rays
▼ + stars: | 2023-08-16 | by ( Field Level Media | ) www.reuters.com time to read: +3 min

August 16 - Right-hander Aaron Civale will shoot for his first victory as a Tampa Bay Ray in his first visit to Oracle Park as the San Francisco Giants host the finale of a three-game interleague series on Wednesday afternoon. He tossed two shutout innings in that role on Monday, his first career appearance against the Rays. That was the only previous time Civale has faced San Francisco. The arrival of Civale coincided with the loss of Rays ace Shane McClanahan, who is now scheduled for season-ending Tommy John surgery. The Rays also have lost outfielder Manuel Margot during the course of the San Francisco series.

Persons: Aaron Civale, Gabe Kapler, Ryan Walker, Kapler, Chad Whitson's, Wade Meckler, Thairo Estrada, Wilmer Flores, Meckler, I'm, Eugene, Estrada, Civale, Ray, Shane McClanahan, Tommy John, McClanahan, Kevin Cash, Manuel Margot, Margot Organizations: Tampa, Oracle, San Francisco Giants, Giants, Rays, San Francisco, Cleveland, San, Guardians, Thomson Locations: Tampa Bay Ray, San Francisco, Cleveland, Florida, Tampa

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