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Search resuls for: "SecureSave"


9 mentions found


☆ Are you financially illiterate? Suze Orman says 'probably 95%' of Americans are
  + stars: | 2023-11-03 | by ( Ryan Ermey | ) www.cnbc.com   time to read: +5 min
When asked by Wallace what percentage of Americans she thought were financially illiterate, she said, "Truthfully, probably 95%." So-called "traditional" accounts, including 401(k)s and individual retirement accounts, give you a tax break up front. Because you fund these accounts with money you've already paid taxes on, your contributions don't count against your taxable income. Contributions to these accounts are made with after-tax money, but investments in them grow free from federal or state tax. You can contribute to any state's plan — and each plan comes with different investing options — but you'll generally only receive tax benefits, if they're offered, by investing in your home state's plan.
Persons: Suze Orman doesn't, Suze, Orman, Chris Wallace, Max, Orman —, Wallace, here's, Roth, you've, Sheryl Garrett, Powers, they're Organizations: Garrett Planning Network, CNBC, Internal Revenue
☆ Suze Orman: ‘Big mistake if you park your money forever in bonds’
  + stars: | 2023-10-28 | by ( Meredith Mutter | ) www.cnbc.com   time to read: 1 min
Suze Orman has a warning for investors relying too heavily on bonds. The personal finance expert believes the draw of high interest rates and an aversion to risk taking are preventing too many people from taking a "lifetime opportunity" in the stock market. … Yes," the "Women & Money" podcast host told CNBC's "Fast Money" this week. "You'll be making a big mistake if you park your money forever in bonds." Orman, who is also co-founder of emergency fintech company SecureSave, notes long-term investors should have the stomach for the stock market's twists and turns.
Persons: Suze Orman, CNBC's, Orman
☆ 63% of workers unable to pay a $500 emergency expense, survey finds. How employers may help change that
  + stars: | 2023-08-31 | by ( Lorie Konish | ) www.cnbc.com   time to read: +3 min
Secure 2.0 emergency savings provisionsThe Secure 2.0 legislation that was signed into law in December included two changes aimed at helping to make it easier for workers to access emergency cash. It may take another two to three years before the $2,500 emergency savings provision makes a difference, Copeland estimated. New awareness of need for emergency savingsHowever, experts say the legislative changes are still a big step forward for emergency savings. "This whole conversation has really brought to the fore the importance of emergency savings and emergency savings accounts," said Emerson Sprick, senior economic analyst at the Bipartisan Policy Center. Now, the financial industry, consumer advocates and others are starting to think about what comprehensive emergency savings coverage could look like, he said.
Persons: Joe Raedle, SecureSave, Devin Miller, Miller, Craig Copeland, Copeland, Emerson Sprick, We've Organizations: Getty, Workers, Research, IRS, Center Locations: Miami , Florida
☆ With a recession looming, it's an important time to have an emergency savings account, finance expert Suze Orman says
  + stars: | 2023-03-30 | by ( Lorie Konish | ) www.cnbc.com   time to read: +5 min
watch now"There has never been a time that as much as right here and right now in the recent past that an emergency savings account is vital, absolutely vital," Orman said. In 2020, she co-founded SecureSave, a company working with employers to provide emergency savings accounts to employees. "If you go back through my entire history of almost 40 years now, I've been [saying] emergency savings, emergency savings, emergency savings," Orman said. How your emergency fund deposits are insuredAn important part of emergency savings is easy access, which means most people are looking at some kind of high-yield savings account. Generally, deposit accounts are eligible for $250,000 coverage for the sum of accounts at an institution in this category, which includes checking accounts, savings accounts, certificates of deposit or money market deposit accounts.
☆ How women answer 5 questions may be a financial wake-up call, personal finance expert Suze Orman says
  + stars: | 2023-03-26 | by ( Lorie Konish | ) www.cnbc.com   time to read: +1 min
At the end of each episode of her long-running eponymous CNBC show, Suze Orman would close out with the phrase, "People first, then money, then things." Women took that to mean they should give to other people and be generous, according to Orman. Years after those episodes aired, there is still a distinct difference between how women and men handle their finances, Orman told CNBC.com in an interview. The message is one Orman has been working to get across through her "Women & Money" podcast. The tagline for the show is "and everybody smart enough to listen," and the show has a "tremendous" male following, according to Orman.
☆ Suze Orman is staying conservative with her investments, shunning tech and buying T-bills
  + stars: | 2023-01-28 | by ( Bree Doyle | ) www.cnbc.com   time to read: +1 min
"Starting quite a while ago now, I got totally out of tech," Orman, the SecureSave founder, recently told CNBC's " Fast Money ." Yet, she wouldn't cash out of another winning sector: Energy. "I am still a big believer in energy stocks," said Orman. XLE 1Y mountain Energy stocks, 1-year Admittedly too-early on the call, she recommended investors pile into energy in March of 2020. As of Friday's close, the Energy Select Sector SPDR Fund, which tracks the energy sector, is up four percent so far this year and 66% over the past three years.
☆ Suze Orman: Americans are short on emergency savings amid 'dangerous scenario' for economy
  + stars: | 2023-01-25 | by ( Lorie Konish | ) www.cnbc.com   time to read: +3 min
"You have to have an emergency savings account, whether you're in recession or not in a recession," Orman said. Americans living paycheck to paycheckThere's never been a better time to have emergency cash set aside. A new survey from Bankrate.com finds that most adults — 57% — are unable to afford an emergency $1,000 expense. At the end of a year, people are often surprised by the sums they save, whether it be $600 or $1,000, Orman said. "Once you start seeing how easy it is to save, the more you like to save," Orman said.
☆ Wall Street shops get dinged for nearly $2 billion in penalties for failing to police bankers' use of Whatsapp
  + stars: | 2022-09-28 | by ( Aaron Weinman | ) www.businessinsider.com   time to read: +5 min
Some of the world's largest banks from Goldman Sachs to Morgan Stanley will cough up nearly $2 billion in penalties to the US regulators for failing to sufficiently monitor their employees' use of unauthorized messaging apps. At the heart of the matter here are bankers' use of communications platforms like Whatsapp or Signal. These are encrypted messaging apps that bankers regularly use to communicate with clients and even journalists. The largest US banks, boutiques, and European lenders were caught up in a probe around the use of unauthorized messaging apps. Whatsapp, for example, is a popular messaging app with bankers dealing with clients based outside the US.
☆ Emergency savings account startup SecureSave has partnered with the likes of the San Antonio Spurs and Truist. See the fintech's 20-slide seed fundraising deck.
  + stars: | 2022-09-27 | by ( Carter Johnson | ) www.businessinsider.com   time to read: +4 min
SecureSave, a fintech launched in 2020, works with employers to offer emergency savings accounts. The origins of SecureSave — a Kirkland, Washington-based fintech that works with companies to offer emergency savings accounts, or ESAs, to employees — began with a single email to a Seattle-based venture studio and investor. In some ways, emergency savings accounts resemble health savings accounts, through which workers can set aside pre-tax earnings to save for medical care. In the US, health savings accounts have grown over time into a nearly $100 billion industry, by assets under management, according to the HSA industry group Devenir. But according to Miller, employers are recognizing that ESAs can pay for themselves — through employee retention and as a competitive advantage when hiring.
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