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☆ Investing in Trump Media is an 'act of faith,' expert says. Here are some risks involved
▼ + stars: | 2024-04-17 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

A screen displays trading information about shares of Truth Social and Trump Media & Technology Group outside the Nasdaq MarketSite in New York City on March 26, 2024. The former president is the majority shareholder in Trump Media, which trades under the initials of his name, DJT, on the Nasdaq. "The reason that people own this stock is because, in one way or another, they support Donald Trump," Rekenthaler said. The closest company comparison to Trump Media is Tesla, according to Rekenthaler. Trump Media is currently a $4 million business through social media, he said.

Persons: Donald Trump, Rekenthaler, John Rekenthaler, Tesla, Elon, Trump, FAFSA, Preston D, Cherry, who's, Oprah —, Ted Jenkin, Jenkin Organizations: Truth Social, Trump Media & Technology Group, Nasdaq, Trump Media, Morningstar, Elon Musk, Trump, Securities and Exchange Commission, Finance, Adidas, CNBC FA Council Locations: New York City, Green Bay , Wisconsin, Atlanta

☆ Here are some big money blind spots you need to avoid, advisors say
▼ + stars: | 2024-04-04 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Here are some of the biggest financial blind spots, according to several certified financial planners on CNBC's Digital Financial Advisor Council. 1. Credit scoresConsumers often don't understand the importance of their credit score, said Kamila Elliott, CFP, co-founder and CEO of Collective Wealth Partners based in Atlanta. The average person with a credit score between 760 and 850 would get a 6.5% interest rate, according to national FICO data as of April 1. The latter's monthly payment would cost $324 more relative to the person with a better credit score — amounting to an extra $116,000 over the life of the loan, according to FICO's loan calculator. "Ten out of 10 people couldn't explain how the tax withholding system works," said Ted Jenkin, CFP, CEO and founder of oXYGen Financial based in Atlanta.

Persons: Kamila Elliott, Wills, Barry Glassman, I'm, Glassman, Elliott, That's, Ted Jenkin, Uncle Sam, Jenkin Organizations: Getty, Digital Financial, CFP, Wealth Partners, Consumer Financial, Bureau, Wealth Services, Westend61, Collective Wealth Partners, Business, Employers, Workers Locations: Atlanta

☆ As the Dow nears 40,000, here's what experts say you should do to prepare for a potential pullback
▼ + stars: | 2024-04-03 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Spencer Platt | Getty ImagesThe stock market could hit a milestone if the Dow Jones Industrial Average reaches 40,000. However, even as stocks have climbed higher, investors are worried there could be a pullback, financial advisors say. For investors who have gravitated toward cash, certificates of deposit, or bonds, a pullback may be an opportunity to deploy those funds in the market, Kourkafas said. "The stock market is a long-term investment," said Jenkin, who is also a member of CNBC's Financial Advisor Council. That may be done through a fund that reflects global market capitalization, such as the Vanguard Total World Stock ETF.

Persons: Spencer Platt, They're, Christine Benz, Angelo Kourkafas, Edward Jones, Kourkafas, it's, Ted Jenkin, Jenkin, Joe Biden, Donald Trump —, Louis Barajas, Barajas, Morningstar's Benz, Benz Organizations: New York Stock Exchange, Getty, Dow Jones, CNBC, Morningstar, CNBC's, Council, Investors, International Private Wealth, CNBC FA Council Locations: New York City, Atlanta, Irvine , California, U.S

☆ Saving for retirement in your 50s can be 'really stress-inducing,' expert says. These tips can help
▼ + stars: | 2024-02-07 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

The median age that workers 50 and older expect to retire is 67, according to the Transamerica Center for Retirement Studies. Brush up on Social Security, Medicare rulesIt is a great time in your 50s to look at your Social Security statement to see the retirement benefits for which you may qualify, according to Jenkin. The Social Security Administration provides free access to benefit information online. For example, it may make sense for someone to retire at age 63 and a half and then use COBRA coverage for the 18 months until they reach Medicare age, Jenkin said. If you're in your early to mid-50s, it's also a great time to explore what the Social Security claiming strategy fits your particular situation best.

Persons: Silke, Dogan, Ted Jenkin, Xers, Jenkin, they're, Brush, it's Organizations: Bank, Getty, Transamerica Center, Retirement, CNBC's, federal, Savings, Fidelity, Social Security, Social Security Administration Locations: Atlanta

☆ As Amazon, Citigroup and Google open 2024 with layoffs, experts say unemployed workers should take these steps
▼ + stars: | 2024-01-12 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Jackyenjoyphotography | Moment | Getty ImagesThe start of 2024 has not been kind to workers in industries that opened the year with layoffs. Recent U.S. Department of Labor data shows layoffs have been hovering near historic lows — and experts say getting laid off no longer has the same stigma it once did. The following steps can help you shore up your finances and kick-start your job search. Calculate severance pay, unused time offYou may receive a severance package from your employer or get paid for unused time off. If you're able to find a new job quickly, you may be able to bank the severance pay, he noted.

Persons: Twitch, Scott Dobroski, Ted Jenkin, Atlanta . Jenkin, Vicki Salemi, Salemi, Jenkin, Dobroski, We've Organizations: Google, MGM Studios, Tech, Citigroup, U.S . Department of Labor, CNBC, Finance Locations: Atlanta .

☆ How to take on the viral No Spend January trend
▼ + stars: | 2024-01-10 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +8 min

It’s also a challenge more people are taking on for shorter periods of time — such as a No Spend Week, a No Spend Weekend or No Spend Sunday — or during other months of the year. Courtesy Kate KadenKaden, who said she saves about $2,000 or more during a No Spend Month, has been able to build up her emergency fund and pay off debt. If pulling back on spending in January isn’t appealing, you can have your own No Spend Month at any point in the year. The same goes for getting off email marketing lists, unsubscribing to text promotions or deleting social media all together. Some social media influencers such as Kiersti Torok help connect others to coupons and discounts in local mailers or retail apps.

Persons: Kate Kaden, “, ” Kaden, Instagram, It’s, Kate Kaden Kaden, ” Neil Sanders, ”, isn’t, Ted Jenkin, Melissa Corriveau, “ It’s, she’s, Corriveau, it’s, you’re, Jenkin, influencer Kaden, Kaden, ” Don’t, you’d, Ramit Sethi, CNN he’s “ Organizations: CNN, GlobalData, ”, Oxygen Financial, Costco, New York Locations: Maine, “

☆ 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

☆ More employers offer a Roth 401(k) — and a Secure 2.0 change may prompt more workers to use it
▼ + stars: | 2023-11-27 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

That share has increased significantly over the past decade: Just 58.2% of employers made a Roth 401(k) available in 2013, PSCA found. Workers pay tax up front on 401(k) contributions, but investment growth and account withdrawals in retirement are tax-free. High earners may also mistakenly think there are income limits to contribute to a Roth 401(k), as there are with a Roth individual retirement account. Those that don't already do so must allow Roth contributions to facilitate this change, or disallow catch-up contributions, according to Principal. When Roth 401(k), IRA savings makes senseRoth 401(k) contributions may not be wise for all workers.

Persons: Roth, PSCA, Hattie Greenan, —, Greenan, Ted Jenkin, Jenkin Organizations: Getty, of America, Finance, Workers, Companies, Employers, CNBC, CNBC's

☆ Millennials have a gusto for bond ETFs — and that may be bad in the long run
▼ + stars: | 2023-11-22 | by ( Greg Iacurci | ) www.cnbc.com time to read: +1 min

Eva-katalin | E+ | Getty ImagesMillennials are holding and buying bond exchange-traded funds with more gusto than older investors — and that's likely not an ideal strategy, experts said. That's a higher allocation than Generation X and baby boomers, who had respective allocations of 37% and 31%. Millennials investing for the long term can afford to — and generally should — take more risk than older investors by allocating relatively heavily to stocks. That's because stocks typically outperform bonds over decades, said Jenkin, a member of CNBC's Advisor Council. "Millennials in their 30s probably shouldn't have 45% of their allocation in bonds," Jenkin said.

Persons: Eva, katalin, Charles Schwab, X, Schwab, — doesn't, Ted Jenkin, Jenkin Organizations: Millennial Locations: Atlanta

☆ Here are ways to adjust your portfolio as some experts predict a soft landing for the economy
▼ + stars: | 2023-08-10 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Morsa Images | E+ | Getty ImagesSome experts have reversed recession predictions and embraced a soft landing for the economy as the Federal Reserve continues to fight inflation. Increase bond allocations before interest rate cutsAs the Federal Reserve weighs an end to its rate-hiking cycle, some advisors are adjusting their clients' bond allocations. With expectations of future interest rate cuts, Atlanta-based CFP Ted Jenkin, founder of oXYGen Financial, has started shifting more money into bonds. watch nowTypically, market interest rates and bond values move in opposite directions. Consider extending bond durationWhen building a bond portfolio, advisors also consider so-called duration, which measures a bond's sensitivity to interest rate changes.

Persons: Barry Glassman, Glassman, Ted Jenkin, Jenkin, Douglas Boneparth Organizations: Federal Reserve, Wealth, CNBC's, CNBC's FA, Bone Locations: McLean , Virginia, Atlanta, CNBC's, New York

☆ Soft landing vs. mild recession: What advisors are telling their clients about the economy
▼ + stars: | 2023-08-08 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

These shifts have sparked conversations among financial advisors and their clients, who may have varying levels of optimism about the country's economic outlook. Of course, with recessions notoriously difficult to predict, even for economists, advisors have warned clients about making fear-based investing decisions. Recession 'highly unlikely' in the next 12 monthsOne definition of a U.S. recession is two consecutive quarters of negative gross domestic product, or GDP, which happened during the first two quarters of 2022. 'We constantly educate our clients'Whether the economy is heading for a mild recession or soft landing, experts emphasize the need for ongoing client education. "We constantly educate our clients and make them prepared for whatever the world's going to throw their way," she added.

Persons: buzzword, Douglas Boneparth, Boneparth, Ted Jenkin, Jenkin, Carolyn McClanahan Organizations: Federal Reserve, Bone, CNBC's, U.S . Bureau of Labor Statistics, U.S . Labor Department, National Bureau of Economic Research, CNBC's FA, Planning Partners Locations: U.S, New York, Atlanta, CNBC's, Jacksonville , Florida

☆ Millionaires support raising Federal Deposit Insurance Corp. limits. They may be overlooking ways to access more coverage on deposits now
▼ + stars: | 2023-06-12 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Currently, the Federal Deposit Insurance Corp. insures $250,000 per depositor for each ownership category for deposits held at an insured bank. That year, the standard maximum deposit insurance amount was temporarily raised to $250,000, from $100,000. How future deposit insurance may changeThe FDIC in May released a report that outlined three options for the future of the deposit insurance system. This may include an increased, yet also "finite," deposit insurance limit, the FDIC's report states. A third choice, targeted coverage, would provide different levels of deposit insurance coverage for different types of accounts, with higher coverage for business payment accounts.

Persons: Lauren Justice, First Republic —, Martin Gruenberg, Gruenberg, Ted Jenkin, Atlanta . Jenkin, Jenkin Organizations: Bank, Bloomberg, Getty, Valley Bank, Signature Bank, CNBC, Millionaire Survey, Federal Deposit Insurance Corp, First, Committee, Silicon Locations: Beverly Hills , California, First Republic, Atlanta .

☆ Using cash like a millionaire may not make sense for most investors. Here's why
▼ + stars: | 2023-06-08 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

The poll considered cash and cash-like investments to include money market funds, checking and savings accounts, plus certificates of deposit. A recent Capgemini Research Institute survey also found affluent investors are holding a record share of cash. On one hand, having more money in cash today isn't necessarily a bad move due to higher interest rates, advisors said. Yet, the CNBC millionaire survey suggests wealthy millennials shifted into cash more readily than older investors. When to boost cash holdingsBut there are circumstances in which it may make sense to up one's cash-like holdings, she said.

Persons: Ted Jenkin, Jenkin, it's, millennials, X, Young, Carolyn McClanahan, what's, McClanahan, Cash Organizations: Millionaires, CNBC Millionaire Survey, Research Institute, Federal Reserve, CNBC, Planning Partners Locations: Atlanta, Jacksonville , Florida

☆ Crypto is Gen Z’s most common investment. That may be risky, experts said
▼ + stars: | 2023-06-07 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

But while young people can afford to take more investment risk relative to older generations, using crypto as the linchpin of an investment portfolio is nonetheless a risky bet due to its volatility, experts said. Crypto zeal a concern if investors don't diversifyFifty-five percent of adult Gen Z investors currently invest in crypto, according to the joint Finra-CFA Institute report. Gen Z is a cohort born in the late 1990s and into the 21st century, meaning its oldest members are in their mid-20s. The joint Finra-CFA Institute report doesn't specify the average share of Gen Z investors' portfolios allocated to cryptocurrency. Gen Z investors in the U.S. view themselves as risk-takers.

Persons: Gen, Coinbase, Binance, Crypto, —, Gerri Walsh, Walsh, Ted Jenkin, cryptocurrency, They've, Jenkin, bitcoin, It's, There's, they've Organizations: CFA Institute, Financial Industry, Investor Education, Securities and Exchange Commission, SEC, Finance, Finra Investor Education Foundation, Meta, cryptocurrency Locations: Atlanta, cryptocurrency, U.S

☆ Why investors 'always misunderstand' the difficulty of regaining a loss, says advisor
▼ + stars: | 2023-05-15 | by ( Greg Iacurci | ) www.cnbc.com time to read: 1 min

You may need to wait longer than you think to regain that loss. Yet, "investors always misunderstand this," said Ted Jenkin, a certified financial planner based in Atlanta and a member of CNBC's Financial Advisor Council. Its value declines to $8 — a 20% loss. The stock's value then rebounds by 20%. That 20% gain returns the stock's value to $9.60, not the original $10.

☆ Yellen says uninsured deposits may be at risk in future bank failures. Here’s how FDIC coverage works
▼ + stars: | 2023-03-17 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

How FDIC coverage worksThe limit for FDIC coverage is $250,000 per depositor, per bank, in each account ownership category. The majority of Americans are going to be covered by FDIC insurance. For example, a married couple with a business may have up to $250,000 insured in an account in one spouse's name, up to $250,000 insured in an account in the other spouse's name and up to $250,000 insured in a business account. How to check, boost FDIC protectionIf you want to know whether your deposits are FDIC-insured, check your bank statement, Jenkin said. Not all accounts provide FDIC coverage, Jenkin noted.

☆ 84% of recent first-time home sellers have regrets. Here are 4 mistakes to avoid
▼ + stars: | 2023-03-15 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

Brandon Bell | Getty Imageswatch now"Even in a really strong seller's market, people still have regrets," said Amanda Pendleton, Zillow home trends expert. Here are four regrets from recent sellers that homeowners ought to be aware of before listing their homes this spring. "If you price it competitively, you're going to be able to sell it a lot quicker," Jenkin said. Homes that get more saves and views on Zillow have virtual, three-dimensional home tours and interactive floor plans, Pendleton said. Bad timingA quarter of recent sellers felt they got their timing wrong, Zillow found.

☆ Are your bank deposits FDIC-insured? What to know in the wake of Silicon Valley Bank, Signature Bank closures
▼ + stars: | 2023-03-13 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

Liu Guanguan | Getty ImagesThe unexpected shutdowns of Silicon Valley Bank and Signature Bank have prompted new questions about the level of protection for bank deposits that many consumers have not asked since the 2008 financial crisis. The limit for FDIC coverage is $250,000 per depositor, per bank, in each account ownership category. For example, a married couple with a business may have up to $250,000 insured in an account in one spouse's name, up to $250,000 insured in an account in the other spouse's name and up to $250,000 insured in a business account. How to check, boost FDIC coverageIf you want to know whether your deposits are FDIC-insured, check your statement, Jenkin said. The majority of Americans are going to be covered by FDIC insurance.

☆ Why moving in retirement can earn you an extra $100,000 — or more
▼ + stars: | 2023-03-07 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Getty ImagesMoving in retirement can unlock a big pot of money to help fund those post-work years. The typical person at the top 10th percentile made even more money — $347,000 — by using the "retire and relocate" strategy, Vanguard found. A quarter of all U.S. retirees have "the potential to shore up their retirement funding" by moving to a cheaper market, the report estimates. watch nowThis isn't necessarily a strategy Americans should use as the linchpin of their retirement savings strategy, however. "[However], if you're thinking of moving from a major metro area in one state to another, and your housing costs will be half, in general that's not going to be the case," Jenkin said.

☆ Rollovers from a 401(k) plan to an IRA: Weigh these 7 factors first
▼ + stars: | 2023-02-09 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Investment funds in 401(k) plans are generally less costly than their IRA counterparts. That's largely because IRA investors are "retail" investors while 401(k) savers often get access to more favorable "institutional" pricing. watch nowOf course, not all 401(k) plans are created equal. For example, more than 30% of 401(k) plans disallow periodic or partial withdrawals by retirees, and about 36% disallow installment payments, according to the Plan Sponsor Council of America, a trade group. Company stockWorkers who own company stock in their 401(k) can get a tax benefit for keeping those holdings in-plan rather than rolling them to an IRA, Jenkin said.

☆ Tax credits vs. tax deductions: How they differ, and what to know before you file
▼ + stars: | 2023-01-31 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Tax credits offer a dollar-for-dollar reduction in liabilityA tax credit offers a dollar-for-dollar reduction of your taxes. For example, let's say you get a $1,000 tax credit and have a $5,000 tax liability. It's therefore a more indirect way of cutting your taxes relative to tax credits, which directly lower your actual tax liability. On the other hand, a $1,000 tax credit would shave $1,000 off their actual tax bill total. Tax deductions are a lot more valuable [for people] in the 37% tax bracket than someone in the 10% tax bracket.

☆ 75% of retirees fall short of a key retirement income goal. These steps can help
▼ + stars: | 2023-01-21 | by ( Lorie Konish | ) www.cnbc.com time to read: +6 min

But many retirees fall short of that retirement income goal, according to research from Goldman Sachs Asset Management. The gap isn't surprising, considering that more than 40% who are still working say they are behind schedule on their retirement savings. "You have all these competing priorities that can crowd out retirement savings," said Mike Moran, senior pension strategist at Goldman Sachs. What to know about Social Security's 8.7% cost-of living adjustmentWhy applying for Social Security benefits with long Covid is tricky1. Delay claiming Social Security benefitsThe longer you wait to claim Social Security retirement benefits up to age 70, the bigger your monthly checks will be.

☆ Amid inflation, more middle-class Americans struggle to make ends meet
▼ + stars: | 2023-01-18 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

watch nowThe middle class is shrinkingEconomists' definitions of middle class vary. To bridge the gap, Americans are dipping into their savings accounts and running up credit card balances. With economists now forecasting a possible recession, 62% of middle-income households said they need to get financially prepared, Primerica also found. Experts often recommend starting with high-interest credit card debt. Credit card rates, in particular, are now more than 19%, on average — an all-time record.

☆ 4 key money moves in an uncertain economy, according to financial advisors
▼ + stars: | 2023-01-17 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

In some cases, it used to make financial sense to tap cheap credit for a larger purchase, rather than withdrawing money from a savings or investment account. If you currently have credit card debt, "grab one of the zero-percent or low-rate balance transfer offers," McBride advised. Put your cash to workOnce you've paid down debt, Peters recommends setting some money aside in separate savings account for emergency expenses. "Online savings accounts can be a way to earn money in times when other investments may not be returning well," he said. "It's not a huge return but you are not going to lose your money," he said.

☆ If federal regulators ban noncompete agreements, 'I'd be the first person to start working again,' advisor says
▼ + stars: | 2023-01-12 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Ted Jenkin signed a noncompete agreement when he sold his financial advisory practice in 2019. Bound by this clause, Jenkin, who is a member of CNBC's Financial Advisor Council, stayed on as an employee until the end of last year. The proposed rule would require companies with existing noncompete agreements to rescind them and inform current and past employees that they have been canceled, in which case Jenkin would be free to pursue other employment. "I'd be the first person to start working again," Jenkin said. "I wouldn't have the fear of getting into a legal battle just because I'm working in my profession."

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