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CFP Daniel Masuda Lehrman says the two biggest contributors to poverty are housing and cars. I spoke with certified financial planner Daniel Masuda Lehrman founder of Masuda Lehrman Wealth, a Honolulu, Hawaii-based financial planning firm, on how Asians living in poverty can handle several money challenges at once. That's because housing is usually the biggest expense in your budget, says Masuda Lehrman, who specializes in multigenerational wealth. If you have credit card debt, see what hardship options the card issuer offers. Consider a credit card balance transferCredit card debt is expensive.

Persons: Daniel Masuda Lehrman, Masuda, Masuda Lehrman, there's, —, doesn't Organizations: Pacific Islander Heritage, Pew Research Locations: American, America, U.S, Honolulu , Hawaii

For Love & Money is a weekly Business Insider column answering relationship and money questions. This week, a reader's husband spent thousands on another woman during an affair. Write to For Love & Money using this Google form. It must feel like your husband spent all this money on this other woman because he liked her better, but he didn't. Write to For Love & Money using this Google form .

Persons: —, I've, — Taylor Swift, it's, doesn't Organizations: Service

☆ Biggest AI winners will come down to Meta and Google, says Deepwater Asset's Munster
▼ + stars: | 2024-05-17 | 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 EmailBiggest AI winners will come down to Meta and Google, says Deepwater Asset's MunsterGene Munster, Deepwater Asset Management, joins 'Squawk on the Street' to discuss which tech companies will be impacted most by AI, the kinds of companies growing from artificial intelligence, and more.

Persons: Munster Gene Munster Organizations: Google, Munster, Deepwater Asset Management

Investing can be intimidating, but financial planners recommend index funds to make things easier. Index funds are generally low-cost, but make sure you understand what fees are involved. Instead, experts have a suggestion to reduce the overwhelm for new and experienced investors alike: total stock market index funds, which give you exposure to the stock market more broadly. AdvertisementWhen you're picking your total market index fund, keep in mind that many of the funds are tracking the same indexes. Susan Dziubinski, an investment specialist at investment research firm Morningstar, identified total market funds as one of the five best ways to invest money.

Persons: Bryan Hasling, Hasling, there's, Charles Schwab, Susan Dziubinski, Morningstar, Dziubinski, doesn't Organizations: Apple, Financial, Fidelity Investments, Wall Street Locations: U.S

I've been working with wealthy clients for nearly 15 years, and I've noticed a few common habits. I've been advising wealthy clients for nearly 15 years, and I'm often asked for the secret sauce, or the commonalities I see in my wealthiest financial-planning clients that make them successful. My most successful clients lean on us to help them separate those emotions and make sound financial decisions. My most successful clients value receiving comprehensive financial plans specific to their goals and situations. My most successful clients value receiving comprehensive financial plans specific to their goals and situations.

Persons: I've, —, I'm, that's, they've, doesn't Organizations: Service, Everest, Google, Jobs, Relief, Economic Security Locations: Policygenius

I always tell my financial planning clients to keep an emergency fund — but I don't keep cash on hand. We recommend keeping that money in a highly liquid vehicle, like a high-yield savings account or money market account. Your priority for your emergency fund should be access and safety, not returns. I have a much more intricate understanding of market risk and the impact of market downturns. The rule I refuse to break: Save (at least) 25% of gross incomeI urge my financial planning clients to prioritize their savings and investments.

Persons: —, We've, It's, what's, doesn't Organizations: Service

☆ 10 cities where Social Security and retirement incomes are the highest
▼ + stars: | 2024-05-14 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +3 min

Read previewResidents of some cities in Virginia, Massachusetts, and Texas have the nation's highest retirement income and Social Security benefits. The DC area's high retirement incomes stem mainly from higher pension and IRA incomes instead of Social Security payments, which are lower than many other cities in the top 20. This breaks down into $51,344 in retirement account income and $28,219 in Social Security income. Though not in the top 10 overall, Ann Arbor ranked highest for Social Security income at $30,428, followed closely by Carmel, Indiana, at $30,069. Meanwhile, residents of 14 cities in SmartAsset's study depend on Social Security for over half their retirement income, including Lewisville, Texas, at 54.4%.

Persons: —, they're, Ann Arbor Organizations: Service, Social Security, Survey, Business, Nationwide, AARP, Social, DC, Goodyear Locations: Virginia , Massachusetts, Texas, Arlington , Virginia, Cambridge , Massachusetts, The Woodlands , Texas, Washington, DC, Arlington, Alexandria, Cambridge, Berkeley, Highlands, Colorado, Naperville, Illinois, Carmel , Indiana, Southern, Arizona, Sugar, Lewisville , Texas, Spring Hill , Florida, South Bend , Indiana

For Love & Money is a weekly Business Insider column answering relationship and money questions. This week, a recently widowed reader isn't sure what changes to make to their financial plan. Write to For Love & Money using this Google form. Since my wife's death, I have found myself single for the first time in 48 years, and I'm looking at a very large income tax liability in 2024 and after. Write to For Love & Money using this Google form .

Persons: —, I'm, I've, Justin Rush, Rush, you'd, you've, it's, doesn't Organizations: Service, Security, Rush

☆ Bonds offer income and some volatility protection. Pick out the right bond fund for your portfolio
▼ + stars: | 2024-04-29 | by ( Michelle Fox | ) www.cnbc.com time to read: +6 min

That said, in general, most investors would be best served buying a diversified bond fund, said Mulach. What to look for in bond fundsThere are several factors to consider when investing in a bond fund. Intermediate-core durations typically range between 75% and 135% of the three-year average of the effective duration of the Morningstar Core Bond Index. Top Morningstar Bond Funds Ticker Fund Morningstar Category Type 30-day SEC yield Adj. Aggregate Bond ETF can be a great option to simply replicate that index, he said.

Persons: Morgan Stanley, shouldn't, Morningstar, Mike Mulach, Chuck Failla, Failla, Mulach, You'll, Baird, BSBSX Baird, Morningstar's Organizations: Treasury, Federal Reserve, Sovereign Financial, Morningstar, SEC, Mutual, FLTB Fidelity, Fidelity, Hartford, Aggregate

I reached out to investing educator Amanda Holden, who told me it's smart to start with a brokerage account. Instead of investing in individual stocks, she suggests ETFs and index funds. In order to explain some of the basics in a simple way, I reached out to investing educator Amanda Holden for her thoughts. She had four tips for getting started on your investing journey. Of course, you'll want to consult with a financial advisor for a full investing strategy; her tips are educational, but they aren't investing advice.

Persons: Amanda Holden, it's, Holden, Charles Schwab, Schwab, Get, You'll, aren't, we'll, doesn't Organizations: Fidelity, Vanguard, — Vanguard

☆ AI will drive earnings efficiencies for all companies, says Strategy Asset's Tom Hulick
▼ + stars: | 2024-04-26 | 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 EmailAI will drive earnings efficiencies for all companies, says Strategy Asset's Tom HulickTom Hulick, Strategy Asset Managers CEO, joins 'Power Lunch' to discuss markets and finding opportunities in AI.

Persons: Tom Hulick Tom Hulick

For Love & Money is a weekly Business Insider column answering relationship and money questions. Write to For Love & Money using this Google form. Sincerely,Too Tired to FightDear Too Tired,AdvertisementFor me, your question comes down to one thing: Can you afford not to sue your stepdaughter? Still, you must consider the right thing to do beyond the personal emotional, or financial cost of house repairs and legal fees. Write to For Love & Money using this Google form .

Persons: There's, doesn't

☆ Blackstone hires Walmart AI whiz to supercharge its portfolio companies
▼ + stars: | 2024-04-15 | by ( Bianca Chan | ) www.businessinsider.com time to read: +4 min

Private equity is ramping up its AI hiring efforts, with Blackstone snagging a key executive to oversee how AI will be applied at its some 230 portfolio companies. Mehrotra will lead Applied AI within Blackstone's data science team, Matthew Katz, Blackstone's global head of data science, told Business Insider in a written statement. Mehrotra comes to Wall Street from Walmart, where he led applied AI efforts at the retailer and managed a team of more than 400 data scientists. Related storyWhile at Walmart, Mehrotra was the vice president of applied AI, leading a team responsible for how AI was mixed into merchandising, including assortment, pricing, and inventory management. AdvertisementLike its peers, Blackstone is eager to take advantage of AI, which stands to shake up businesses across virtually all industries.

Persons: Blackstone, Prakhar Mehrotra, Mehrotra, Matthew Katz, Blackstone's, Franz Edelman, Katz, Deepali Vyas, Zac Maufe, Manoj Mahenthiran, Thomas H, Lee Organizations: Service, Walmart, Twitter, CalTech, Blackstone, Blackstone . Data Locations: Boston, Blackstone

This week, a reader's car was damaged when their friend drove it with the parking brake engaged. When he finally finished, my best friend did me a huge favor by driving from Portland to Seattle to bring me my car. While these feelings are perfectly natural, allowing them to ruin your relationship with your best friend would be unfair to you both. Knowing that your best friend "can barely afford rent" and still expecting her to repay you for the car parts is the wrong choice. But even if it isn't, I hope you don't lose your best friend over a single space-out.

Persons: I've, I'd, doesn't Organizations: VW Locations: Seattle, Portland , Oregon, Portland

In the late 90s, I invested money in the stock market without knowing much about the stock I bought. AdvertisementThe stock market has recently hit several all-time highs. I have some money sitting in an investment account that I manage myself, and it is so tempting to buy some individual stocks. Don't get me wrong, the stock market can and does (for many people) give better returns than safer investments. I tried and failed at researching and buying individual stocks without the guidance of a financial advisor.

Persons: I'm, I've, doesn't Organizations: Amazon Locations: —

For Love & Money is a weekly Business Insider column answering relationship and money questions. Write to For Love & Money using this Google form. Sincerely,Secure, But Feeling InsecureDear Secure,From the outside looking in, financial anxiety, like all anxiety, can seem absurdly easy to handle. So rather than worry about your husband's apparent financial anxiety, take comfort in your financial security. Write to For Love & Money using this Google form .

Persons: wasn't, —, Avigail Lev, Lev, hasn't, it's, doesn't Organizations: Service, CBT, — Locations: San Francisco

☆ My dad was always an extreme penny-pincher, but his lessons helped me buy 2 homes on a teacher's salary
▼ + stars: | 2024-04-01 | by ( Elana Rabinowitz | Stephanie Hallett | ) www.businessinsider.com time to read: +5 min

My dad had many creative ways to save money, including zig-zagging all over NYC to avoid road tolls. Growing up, I learned the value of money from him, and I've applied his lessons over and over. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Following in my father's careful footsteps has allowed me to afford two homes and a new car, all on a teacher's salary. I love to travel, and, as a teacher, I'm able to take advantage of summers off.

Persons: I've, —, San Remo, I'd, I'm, doesn't Organizations: Service, New Locations: New York City, San, South America, South Africa, New York, Brooklyn

For Love & Money is a weekly Business Insider column answering relationship and money questions. Write to For Love & Money using this Google form. Dear For Love & Money,My mother recently sold her home, and I am in the process of selling mine. Giving up the habit of relationship management when your desire is so innate and well-meaning can feel terrifying and even impossible. Write to For Love & Money using this Google form .

Persons: —, She's, she'll, You've, they'll, can't, shortchanged, doesn't Organizations: Service

☆ BlackRock says bitcoin returns likely to come down now that it has been embraced by Wall Street
▼ + stars: | 2024-03-26 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

If you're looking for your bitcoin to go to the moon, the window of opportunity may be slowly closing, according to BlackRock. "Certainly, returns going forward will come down," he said at the Bitcoin Investor Day conference in New York City Friday. That demand was "massive and clear" in 2023, when BlackRock filed to launch its iShares Bitcoin Trust. "I don't think we've seen the end of cycles in bitcoin," Mitchnick said. "[With] bitcoin, when the price goes up, the probabilities of success and adoption in some senses, as digital gold, are also changing," he said.

Persons: Robert Mitchnick, It's, –, Mitchnick, CNBC's Ganesh Rao Organizations: BlackRock Locations: BlackRock, New York, @GC

☆ New Yorkers who make six figures won't save as much moving to Texas and Florida anymore
▼ + stars: | 2024-03-25 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +6 min

New Yorkers have historically moved to Florida and Texas to save money on taxes and other expenses. AdvertisementIn December, Rahul Sen Sharma told Business Insider that he was moving from New York to Miami — and bringing his company with him. New Yorkers moving to Texas for many of the same reasons will also face sticker shock. The savings gained by moving to Florida and Texas are dwindlingUtilities, gas, and housing are just a few expenses that have gotten pricier in Florida and Texas since 2019. "The property-tax percentage rate is higher," Marie Bailey, a Texas real-estate agent who moved from California, told Business Insider's Alcynna Lloyd.

Persons: —, Rahul Sen Sharma, Sen Sharma, BI's Phil Rosen, Jeff Bezos, Ken Griffin, SmartAsset, Dallas, Alexander Spatari, Realtor.com, Jaclyn DeJohn, SmartAsset's, Wager, Robert Walsh, Marie Bailey, Insider's Alcynna Lloyd Organizations: Service, Miami —, Bloomberg ., New, Miami, relocators, Miami . Miami Beach, Bloomberg, Business, Sunshine State, CBS, Fort Locations: Florida, Texas, New York, Miami, NYC, Austin, Florida and Texas, Dallas, Miami ., Manhattan, Fort Lauderdale , Florida, Fort Lauderdale, California

☆ The S&P 500 has reached a historical extreme based on a simple measure that has foretold pullbacks in the past
▼ + stars: | 2024-03-25 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

One measure of stocks suggests it's time for investors to take some caution, according to BTIG. The 200-day moving average is a technical measure used by investors and traders to gauge an asset's longer-term momentum. On top of that, seasonal trends — which had been positive — are about to shift against investors, Krinsky noted. April is the worst month for the long/short momentum strategy, which refers to when investors snap up recent winners, while shorting recent underperformers. On average, the strategy loses 4.15% on average during the month.

Persons: Jonathan Krinsky, Krinsky Organizations: Stocks, Federal Reserve

For Love & Money is a weekly Business Insider column answering relationship and money questions. Write to For Love & Money using this Google form. The only problem is that I'm burned out and unhappy, and I'm starting to resent my husband. My husband didn't get a degree, has no true calling, and is content to get a meager paycheck and go home. Write to For Love & Money using this Google form .

Persons: doesn't, hasn't, I've, didn't, they're, isn't, he's Organizations: Fortune

☆ 'Act like you're dead': What Anthony Scaramucci tells clients nervous about bitcoin's big swings
▼ + stars: | 2024-03-23 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Bitcoin investors shouldn't sell amid high volatility, Anthony Scaramucci said. He said clients have been dismayed by the crypto's big price swings. He said at the Bitcoin Investor Day conference that his advice to clients is to "act like you're dead." "So act like you're dead with your bitcoin and don't sell your bitcoin. That occurrence, industry experts say, could create a supply shock and ultimately push the price of bitcoin higher.

Persons: Anthony Scaramucci, —, Anthony Pompliano, Scaramucci, Donald Trump, Charles Schwab, Bitcoin, Cathie Wood Organizations: Service, SkyBridge, Wall Street, White, Communications, Securities and Exchange, BlackRock, Fidelity, SEC

Estate planning may not be a topic you want to think about, but it's essential for small-business owners. Estate planning is a very sensitive, emotional topic, but as a financial planner, I believe it's essential to discuss. Estate planning should be a top priority — especially for Black business owners seeking to build generational wealth and preserve their legacies. Digital estate planning documentA common blind spot in estate planning is the digital asset space. Digital estate planning will make it easier for your heirs to access your digital assets as needed.

Persons: —, doesn't Organizations: Service

☆ The top 10 U.S. cities where a $100,000 salary goes the furthest—half are in Texas
▼ + stars: | 2024-03-19 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

It turns out, that includes how far a $100,000 salary will get you, according to a recent SmartAsset study. A six-figure income offers the most purchasing power in El Paso, Texas, the study found. In El Paso, a $100,000 salary amounts to around $88,840 after taking out those expenses. One factor potentially fueling the Lone Star State's dominance is its tax friendliness, since Texas does not collect state income taxes. However, residents still pay federal income taxes and face some of the highest property taxes in the country.

Persons: Zers —, — Organizations: Council for Community, Economic Research, Census, Christi, Houston, Star Locations: Texas, U.S, El Paso , Texas, El Paso, Mexico, RentCafe, San Antonio, Lubbock

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