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☆ Kasa Living, which partners with KKR and TPG, wants to become the Amazon of hospitality. See the 33-page slideshow it used to raise $70 million
▼ + stars: | 2024-04-26 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +5 min

Kasa Living has made a habit of raising funds at some of the hardest times for the hospitality and proptech industries. Kasa Living CEO and founder Roman Pedan points to the shares of Marriott and Hilton, which are up over the last five years, as an indication of what Kasa could be. Kasa Living is now working with some investment firms to help locate and buy buildings that Kasa Living will operate, a model known as OpCo/PropCo. Instead of having to hire someone to handle bookings and finances for each property, Kasa Living handles it all centrally, "removing that fixed cost." Some financial information has been redacted from the deck by Kasa Living.

Persons: Roman Pedan, Kasa, Pedan, Pendan Organizations: Marriott, Hilton, KKR, Sonder, TPG, Amazon Web, Citi Ventures, FirstMark, New York Life Ventures, Fireside Investments, RET, Zigg, Ribbit, EBay, Kasa Locations: Brookfield

☆ How much money Americans in their 40s saved in 2023—and 3 strategies to save more
▼ + stars: | 2024-04-24 | by ( Annie Probert | ) www.cnbc.com time to read: +1 min

In your 40s, you're likely hitting your peak earning years and beginning to seriously evaluate your strategy for saving, whether it's for retirement or your children's future. In 2023, Americans in their 40s managed to save over $6,930, according to data from New York Life. While that's lower than the $8,911 people in this age group aimed to save last year, it still puts them second on the list of age groups who managed to save the most in 2023. "It could be kids activities, it could be child care, or it could be college, all those areas take a lot of people's cash flow." Here are three tips from Cheng on how people in their 40s can save more this year.

Persons: Marguerita Cheng, Cheng Organizations: New York Locations: New

☆ How much money Americans in their 30s saved in 2023—and how to save more, according to a CFP
▼ + stars: | 2024-04-19 | by ( Annie Probert | ) www.cnbc.com time to read: +2 min

In your 30s, your list of financial burdens is probably growing, including everything from paying for child care to saving up for a first home. Despite these challenges, Americans in their 30s managed to save the most money out of any age group in 2023, according to data from New York Life. Parents in the U.S. spend around 24% of their household income on child care each year, a recent report from Care.com found. "But child care, we have to pay for that once the baby's born. If you're in your 30s and want to save more this year, here are two strategies to help stash away more cash.

Persons: it's, Shaun Melby, Care.com, you've Organizations: New York, Melby Wealth, CNBC Locations: New, U.S

☆ How much money Americans in their 50s saved in 2023—and 3 ways to save more
▼ + stars: | 2024-04-18 | by ( Annie Probert | ) www.cnbc.com time to read: +1 min

With retirement on the horizon, saving in your 50s can be more stress-inducing than in previous years of your life. In fact, when compared with those in their 20s, 30s and 40s, Americans in their 50s put away the least amount of money last year, saving an average of $4,780, according to data from New York Life. People in their 30s saved the most, with an average of over $9,800 saved. Americans in their 50s also fell short of their goal of saving around $5,630. Some people in their 50s also "still have never learned to live within their means," he says.

Persons: Wes Shannon, Read, Shannon Organizations: New York, Brazos Wealth Advisors Locations: New

☆ Stock futures are little changed after Dow's sixth straight losing day: Live updates
▼ + stars: | 2024-04-15 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

U.S. stock futures were little changed Monday night after a losing day for the major benchmarks. S&P 500 futures and Nasdaq 100 futures flickered near the flatline. The 30-stock Dow dropped 248 points, or 0.65%, in its sixth straight losing day. Those losses follow a rise in yields that had investors shrugging off strong earnings from Goldman Sachs , as well as hot retail sales data. Big bank earnings are set to continue Tuesday, with the release of results from Bank of America, Johnson & Johnson and Morgan Stanley.

Persons: Dow, Goldman Sachs, we're, Lauren Goodwin, CNBC's, Johnson, Morgan Stanley Organizations: Dow Jones Industrial, Nasdaq, Treasury, Saturday, New York Life Investments, Bank of America, United Airlines, Traders Locations: Israel, U.S, UnitedHealth

☆ Equity markets won't see sustained downturn until earnings fall, says New York Life's Goodwin
▼ + stars: | 2024-04-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEquity markets won't see sustained downturn until earnings fall, says New York Life's GoodwinDan Greenhaus, Solus Alternative Asset Management, and Lauren Goodwin, New York Life Investments, join 'Closing Bell' to discuss the current caution towards markets, how the Fed's trajectory is impacting equity markets, and more.

Persons: Life's Goodwin Dan Greenhaus, Lauren Goodwin Organizations: Equity, Management, New York Life Investments Locations: New, New York

☆ Watch CNBC's full interview with Solus Alternative's Dan Greenhaus and New York Life's Lauren Goodwin
▼ + stars: | 2024-04-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Solus Alternative's Dan Greenhaus and New York Life's Lauren GoodwinDan Greenhaus, Solus Alternative Asset Management, and Lauren Goodwin, New York Life Investments, join 'Closing Bell' to discuss the current caution towards markets, how the Fed's trajectory is impacting equity markets, and more.

Persons: Solus Alternative's Dan Greenhaus, Life's Lauren Goodwin Dan Greenhaus, Lauren Goodwin Organizations: Management, New York Life Investments Locations: New, New York

☆ Job growth zoomed in March as payrolls jumped by 303,000 and unemployment dropped to 3.8%
▼ + stars: | 2024-04-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Job creation in March easily topped expectations in a sign of continued acceleration for what has been a bustling and resilient labor market. The unemployment rate edged lower to 3.8%, as expected, even though the labor force participation rate moved higher to 62.7%, a gain of 0.2 percentage point from February. "This report and the February report showed some broadening in terms of job creation, which is a very good sign." Stocks have tumbled this week amid concerns that a strong labor market and resilient economy could keep the central bank on hold for longer than expected. Correction: The unemployment rate edged lower to 3.8%.

Persons: Nonfarm, Dow Jones, Lauren Goodwin, Jerome Powell Organizations: Dow, Labor Department's Bureau of Labor Statistics, Wall, Retail, New York Life Investments, Federal Reserve, Stock

☆ How much money Americans in their 20s saved in 2023—and how to save more
▼ + stars: | 2024-04-02 | by ( Annie Probert | ) www.cnbc.com time to read: +1 min

From a busy social life to beginning to pay off student loans, your 20s can be a hard time to save for the future — especially with retirement decades away. "In your 20s, maybe you're just out of college, have some student loans, have your first job," says Nia Gillett, certified financial planner at Gen Y Planning, a firm that focuses on young professionals. "It can be easy to say, 'Oh, I finally have money,' and just start spending it." That's less than the average amount of $7,148 people in their 20s aimed to save, but how much should you really be saving? Social media in particular can make it hard for young people to save more, she adds.

Persons: Nia Gillett, Gillett Organizations: New York, Social Locations: New

☆ Rates might drive correctioin into earnings season: Solus' Dan Greenhaus
▼ + stars: | 2024-04-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRates might drive correctioin into earnings season: Solus' Dan GreenhausDan Greenhaus, Solus Alternative Asset Management chief strategist, Lauren Goodwin, New York Life Investments economist, and Kristen Bitterly, head of investment solutions at Citi Global Wealth, join 'Closing Bell,' to discuss the markets, economy, labor market, and the Fed's next moves.

Persons: Solus, Dan Greenhaus Dan Greenhaus, Lauren Goodwin, Kristen Organizations: Asset Management, New York Life Investments, Citi Global Wealth Locations: New York

☆ Watch CNBC’s full interview with Solus' Dan Greenhaus, New York Life Investments' Lauren Goodwin and Citi Global Wealth's Kristen Bitterly
▼ + stars: | 2024-04-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Solus' Dan Greenhaus, New York Life Investments' Lauren Goodwin and Citi Global Wealth's Kristen BitterlyDan Greenhaus, Solus Alternative Asset Management chief strategist, Lauren Goodwin, New York Life Investments economist, and Kristen Bitterly, head of investment solutions at Citi Global Wealth, join 'Closing Bell,' to discuss the markets, economy, labor market, and the Fed's next moves.

Persons: Solus, Dan Greenhaus, Lauren Goodwin, Kristen Organizations: Dan Greenhaus , New York Life Investments, Citi Global, Asset Management, New York Life Investments, Citi Global Wealth Locations: Dan Greenhaus , New York, New York

☆ Influencer Tori Dunlap is spurring women to maximize their savings and invest in the stock market
▼ + stars: | 2024-03-28 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Sarah WolfeAs Tiffany Mane read a personal finance book during her train ride to work, a woman sitting near her acknowledged that she, too, knew of the author. And there's a cyclical effect at play: Women utilize Dunlap's resources to improve their financial lives, and then share the information with others. A 2021 survey from NerdWallet showed women were less likely to be invested in the stock market than their male counterparts. "This kind of identity-focused personal finance is 100% necessary, and is the future of personal finance." In that group, members share financial wins and trade advice on topics like which banks or credit cards to use.

Persons: Sarah Wolfe, Tiffany Mane, Mane, Tori Dunlap, Dunlap, isn't, She's, Annamaria Lusardi, Lusardi Organizations: D.C, Finance, Facebook, Stanford Institute for Economic Policy Research, Global Financial Locations: Washington, York, NerdWallet

☆ Fintech ValidMind aims to ease Wall Street's AI risk management headaches. Here's the pitch deck it used to raise $8 million in a round led by Point72 Ventures.
▼ + stars: | 2024-03-28 | by ( Bianca Chan | ) www.businessinsider.com time to read: +3 min

Wall Street firms know the pains of having to satisfy regulators, and with advancements in artificial intelligence, there's a whole new level of scrutiny and complexity. It involves quality-and-assurance teams who test, verify, validate, and challenge the AI models before they go into production and report issues back to the engineering team to fix. In some cases, banks' technology teams are spending at least half their time documenting models for compliance, Jonas Jacobi, cofounder of fintech startup ValidMind, told Business Insider. AI models are often compared to a "black box" because it can be difficult to understand their decision-making or how the models arrive at their results. With the new injection of capital, ValidMind will build more features, like one aimed at automating the risk management of third-party vendor solutions.

Persons: Banks, Jonas Jacobi, Jacobi, ValidMind, Steve Cohen's, Mehdi Esmail, Andres Rodriguez Organizations: Business, Point72 Ventures, American Express, Third Prime Ventures, York Life, Jacobi, Technologists Locations: Palo Alto, Calif, Wall, ValidMind

☆ These tax-free bonds could see stellar returns once the Fed starts cutting rates
▼ + stars: | 2024-03-07 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Such a move would bode well for fixed income, including municipal bonds. Recent data from Columbia Threadneedle Investments and Bloomberg, shows that muni bonds can see a jump in cumulative tax-equivalent returns once the Fed begins cutting rates. When taking into account the tax savings, muni bond investors don't have to take that much risk to capture attractive yields. Rising flows and higher yields Investors have been pouring money into muni bond funds lately. BlackRock's iShares National Muni Bond ETF (MUB) , meanwhile, has seen an exodus of more than $1 billion in flows this year, but it experienced inflows of $150.9 million in the past week.

Persons: Jerome Powell, bode, munis, Catherine Stienstra, BlackRock's, Duane McAllister, Baird Organizations: Federal Reserve, Columbia Threadneedle Investments, Bloomberg, York Life Investments, Columbia, Bond, Muni Bond ETF, Baird Asset Management, AAA, BBB Locations: Columbia

☆ Risks to rally are things I don't see happening in the next few months, says New York Life's Goodwin
▼ + stars: | 2024-02-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRisks to rally are things I don't see happening in the next few months, says New York Life's GoodwinLauren Goodwin, New York Life Investments chief market strategist, joins 'Closing Bell' to discuss if Goodwin's stance towards equities, what Goodwin wants to see to be more constructive on equities, and much more.

Persons: Life's Goodwin Lauren Goodwin, Goodwin Organizations: New York Life Investments Locations: New, New York

☆ Nearly 1 in 4 Americans with debt are putting less money toward credit card payments: 'People are really struggling'
▼ + stars: | 2024-02-22 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

Total credit card debt in the U.S. has reached a record high — but people are putting less money toward paying it down. Americans collectively hold $1.13 trillion in credit card debt as of the end of December, according to the Federal Reserve Bank of New York's latest Household Debt and Credit Report. Debt holders say they put around $363 per month toward their credit card debt in 2023, slightly less than the $430 they paid monthly in 2022. How interest rates and inflation impact credit card debtOne reason people are contributing less is due to record-high credit card interest rates combined with elevated prices for everyday goods, says Matt Schulz, chief credit analyst at LendingTree. Making a plan to get out of credit card debt

Persons: Matt Schulz, Schulz, they've Organizations: Federal Reserve Bank of New, LendingTree Locations: U.S, New York, York

☆ Higher-for-longer interest rates favor large companies over their smaller rivals in many ways
▼ + stars: | 2024-02-18 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

High interest rates squeeze companies of all sizes, but that’s especially the case for smaller firms, unlike large companies better equipped to weather the storm. Before the Bell: How do the effects of higher-for-longer interest rates on companies vary by size? I think it might be a stretch to say that M&A activity picks up because of higher interest rates, so instead, it’s that if good businesses are beginning to suffer because of higher interest rates, then they might be more likely to be a target. Gas prices always rise as winter winds down because demand increases and gas stations must switch over to more expensive summer fuel. No matter the cause, rising gas prices are bad news for consumers already frustrated by the cost of living.

Persons: It’s, Bell, Lauren Goodwin, Matt Egan, ”, Patrick De Haan, doesn’t, ” Read, Raphael Bostic, Michelle Bowman, Philip Jefferson, Patrick Harker, Lisa Cook, Neel Kashkari, Christopher Waller Organizations: CNN Business, Bell, DC CNN, Federal Reserve, New York Life Investments, AAA, ’, HSBC, Walmart, Home Depot, Barclays, Caesars Entertainment, Nvidia, Rivian, Fidelity, Marriott, Intuit, Pacific Gas & Electric, Global, Chicago Fed, US Labor Department, National Association of Realtors, Warner Bros ., Icahn Enterprises Locations: Washington, Wingstop, United States

☆ A US productivity boom may explain how inflation slowed amid a strong economy
▼ + stars: | 2024-02-17 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

If productivity is strong, that means the US economy is doing more with less, or being more productive. Productivity is measured by dividing all the goods and services produced in the economy by every hour people worked. “But the economy did well, so that translated into higher productivity, supporting higher wage growth and fending off inflation from accelerating.”Last year’s productivity boom could also be a combination of all of the above. Still, it may be too soon to know if last year’s productivity burst was truly a transformative shift in the US economy. “Sometimes at the very end of an economic cycle, productivity can be boosted by cost-saving measures,” Goodwin of New York Life Investments said.

Persons: ” Lauren Goodwin, Mark Zandi, John Min, Austan Goolsbee, It’s, ” Min, ” Goodwin, ” Organizations: DC CNN, Labor Department, New York Life Investments, CNN, Microsoft, Meta, Citigroup, Monex, Federal Reserve, Chicago Fed, Bloomberg Locations: Washington

☆ How much money Americans saved in 2023 at every age—and how you can put away more this year
▼ + stars: | 2024-02-14 | by ( Annie Probert | ) www.cnbc.com time to read: +2 min

Millennials managed to stash away more cash than any other generation last year, according to New York Life's recent "Wealth Watch" survey. Just over half of American adults — 52% — met or exceeded their savings goals in 2023, managing to save an average of $6,138 despite facing economic challenges like inflation and high interest rates. "Having a financial strategy in place plays a key role in meeting savings goals," he says. "63% of adults with a financial strategy met or exceeded their savings goal for 2023, compared to only 37% of those without a financial strategy." They're also more likely than older generations to have long-term savings goals, like purchasing a home.

Persons: Millennials, —, Donn Froshiesar, Froshiesar, Froshiesar isn't, Zers, They're, Xers Organizations: CNBC Locations: New York

☆ 2024 playbook may mirror 2023 until there's a break in economic data: NY Life Investments' Goodwin
▼ + stars: | 2024-02-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email2024 playbook may mirror 2023 until there's a break in economic data: NY Life Investments' GoodwinLauren Goodwin, New York Life Investments chief market strategist, joins 'Closing Bell' to discuss her expectations for the economy post CPI report.

Persons: there's, Goodwin Lauren Goodwin Organizations: Investments, New York Life Investments Locations: New York

☆ Vanguard launches two new ETFs to hit this sweet spot of tax-free fixed income
▼ + stars: | 2024-02-09 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Investors with a focus on tax-free income have two new choices to consider from Vanguard as the asset manager launches a pair of municipal bond exchange-traded funds. Tax advantages The biggest selling point for municipal bond funds is the tax-free income they provide. VTEC follows the S & P California AMT-Free Municipal Bond Index, while VTEI tracks the S & P Intermediate Term National AMT-Free Municipal Bond Index. However, in November, $2.8 billion in assets flowed into intermediate-term muni bond funds, followed by another $2.3 billion in December, Morningstar found. said Foos of municipal bond funds.

Persons: Beth Foos, there's, VTEI, Jeffrey Johnson, Johnson, Morningstar, it's Organizations: Vanguard, California, Bond, Federal Reserve, Morningstar, York Life Investments, Free Municipal Bond Index, Free Municipal Bond, muni, Treasury Locations: California

☆ 74% of Americans are confident they'll be able to retire by 64—here's how much they'll need to save each month
▼ + stars: | 2024-02-07 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Many Americans want to retire before turning 65, and they're pretty optimistic about achieving that goal. Nearly three quarters of American adults — 74% — are confident they'll be able to retire at 64, per New York Life's recent "Wealth Watch" survey. The average American thinks they'll need around $1.3 million to retire comfortably, according to Northwestern Mutual's "Planning and Progress" study. Taking that into account, CNBC calculated how much you would need to save each month in order to retire at 64 with $1.3 million. The calculations don't factor in common, but unpredictable, life events such as layoffs, promotions or market volatility.

Organizations: CNBC Locations: New York, Northwestern

☆ Here are 3 ways the labor market is showing concerning deterioration underneath strong headline numbers — meaning a recession and stock-market sell-off could sneak up on investors
▼ + stars: | 2024-02-03 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Read previewThe labor market smashed expectations in January, adding 353,000 new jobs, far above economist forecasts of 187,000. Despite the strong headline number, however, there are signs that the job market is deteriorating beneath the surface. For one, the Bureau of Labor Statistics' household survey is showing some divergence from its payroll survey. "High labor and credit costs are beginning to materially impact corporate profits, which impacts both the labor market and (eventually) the default rate." Still, while there are signs of weakening, there are also signs of improvement in the labor market.

Persons: —, Jeff Schulze, today's, Shulze, Louis Fed, Lance Roberts, Ian Shepherdson, Lauren Goodwin Organizations: Service, Federal Reserve, Business, of Labor Statistics, BLS, of Labor, ClearBridge Investments, RIA Advisors, National Federation of Independent Business, Pantheon, Bank of America's Global, New York Life Investments, ClearBridge

☆ Not a lot has changed despite Powell's comments on rate hikes, says New York Life's Goodwin
▼ + stars: | 2024-02-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNot a lot has changed despite Powell's comments on rate hikes, says New York Life's GoodwinLauren Goodwin, New York Life Investment Management, joins 'Closing Bell' to discuss the playbook after Jerome Powell's recent comments, if March's Fed meeting even matters, and Goodwin's thoughts on the credit markets.

Persons: Life's Goodwin Lauren Goodwin, Jerome Powell's Organizations: New York Life Investment Management, Fed Locations: New

☆ These new ETFs will help investors target a lucrative part of the corporate bond market
▼ + stars: | 2024-01-25 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

BondBloxx is set to debut three new funds on Thursday: BBB Rated 1-5 Year Corporate Bond ETF (BBBS) , BBB Rated 5-10 Year Corporate Bond ETF (BBBI) and BBB Rated 10+ Year Corporate Bond ETF (BBBL). Bonds rated BBB or an equivalent are considered the last rung of investment grade credit. Tony Kelly, co-founder of BondBloxx, said BBB credit is the "not-so-secret sauce" for active managers trying to beat credit benchmarks. Of course, economic downturns are always a concern for corporate credit. This is not unusual for corporate bond funds since banks and other financial institutions issue a lot of short-term debt, but it does suggest that the funds could have some concentration risk.

Persons: Bonds, Rick Rieder, Tony Kelly, BondBloxx, Kelly, Lauren Goodwin, Goodwin Organizations: BBB, Corporate, New York Life Investments, Reserve Locations: BondBloxx

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