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☆ How to manage your money in your 40s, according to CFPs: As your investments grow, 'mistakes can get bigger' too
▼ + stars: | 2024-04-16 | by ( Annie Probert | ) www.cnbc.com time to read: +4 min

In your 40s, financial priorities can range from taking care of aging parents to funding the activities and futures of your kids. Here are four steps certified financial planners recommend taking with your money throughout your 40s. You generally have two options for life insurance: term or permanent. Term life insurance provides coverage for a set amount of time, often somewhere between 10 and 30 years, while permanent life insurance, also known as whole life, provides coverage for the rest of your life. Term life insurance is generally fitting for people looking for affordable, temporary coverage, while permanent life insurance is more flexible and can earn interest.

Persons: Andrew Fincher, Fincher, you've, Joe Conroy Organizations: Financial

☆ The No. 1 mistake people in their 50s make with their money, according to a CFP—and how to fix it
▼ + stars: | 2024-04-15 | by ( Annie Probert | ) www.cnbc.com time to read: +2 min

You might feel like your life, retirement savings and finances are set in stone at this age. But this mindset can be one of the biggest financial mistakes you make in your 50s, says Autumn Knutson, certified financial planner and founder of Styled Wealth. Here are three smart decisions to make with your money in your 50s, according to three certified financial planners. Secure long-term care insuranceAs you inch closer to retirement, your 50s are a good time to consider long-term care insurance, says Andrew Fincher, a CFP and financial advisor at VLP Financial Advisors. Separate from health insurance and Medicare, long-term care insurance covers expenses that often arise in your later years, such as assisted living care and at-home care.

Persons: —, Andrew Fincher, Fincher, Marguerita Cheng, Cheng Organizations: Financial, Blue Ocean, Fidelity Investments

☆ Take a closer look at the main regions of Neom, Saudi's epic megacity project
▼ + stars: | 2024-04-11 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +6 min

Saudi Arabia is plowing on with its ambitious Neom project, despite reported setbacks. Here's a closer look at the main regions that officials plan to build as part of the project. AdvertisementSaudi Arabia's futuristic Neom project is one of the most ambitious in the world. According to Neom, the city will have no roads, cars, or emissions and run on 100% renewable energy. SindalahThe island of Sindalah, a yachting resort and part of the Neom project, will be open in 2024, say planners.

Persons: Here's, —, Neom, Denis Hickey, " Hickey, Saudi Arabia's Crown Prince Mohammed bin Salman, NEOM Organizations: Service, Street Journal, Bloomberg, Saudi Arabia's Crown Locations: Saudi Arabia, Saudi, Tabuk, Kingdom, Neom, Sindalah, Aqaba, Tabak Province

If you choose to forgo life insurance, it might still make sense to include an unmarried partner in a will. Compare life insurance rates online with Ethos Life. If so, then you may need life insurance. Term life insurance is a better choice for most individuals since they don't need coverage for their entire lives. Get Life Insurance Quotes Compare the best life insurance companies with a quote from Ethos Life.

Persons: —, Justin Pritchard, doesn't, Pritchard, Jay Zigmont Organizations: Service, CFP, Childfree

☆ 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

☆ Will the Baltimore Bridge Disaster Make Inflation Worse? - The New York Times
▼ + stars: | 2024-04-02 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

It has been a week since the Dali, a container ship, struck the Francis Scott Key Bridge in Baltimore. It’s still stuck there, and the images remain amazing, in part because the vessel is so huge compared with what’s left of the bridge. And with the ship and pieces of the bridge blocking the harbor entry, the Port of Baltimore remains closed. Well, it would have been quite a big deal if it had happened in late 2021 or early 2022, when global supply chains were under a lot of pressure. The Dali is no Ever Given, the ship that blocked the Suez Canal when it ran aground in 2021.

Persons: Dali, Francis Scott Key, It’s, what’s, Dali Baltimore Locations: Baltimore, Port, Los Angeles, Dali, East Coast, Suez

☆ How vast swarms of drones could transform the future of war
▼ + stars: | 2024-04-01 | by ( Tom Porter | ) www.businessinsider.com time to read: +9 min

Drone swarms use cutting-edge technology derived from studying bird flocks and fish shoals to coordinate their movements across a potentially vast area. Advertisement"Autonomous, armed drone swarms should have restrictions on their use, especially drone swarms targeting humans. Ochmanek stressed that targeting decisions for drone swarms should still be made by humans, with AI only synthesizing the data. AdvertisementCountering the swarmsAs well as developing plans to deploy drone swarms, defense companies are working on a playbook for countering them. Another possibility, said Ochmanek, is that drone swarms could be programmed to target other drone swarms.

Persons: —, Zak Kallenborn, David Ochmanek, Ochmanek Organizations: Service, RAND Corporation, Business, Center for Strategic, International Studies, Iraq, United Nations Locations: China, US, Israel, Europe, Ukraine

☆ 3 money moves to make in your 30s to set yourself up for financial success
▼ + stars: | 2024-03-31 | by ( Annie Probert | ) www.cnbc.com time to read: +2 min

Your 30s are a decade often marked by big financial steps, from buying your first home to switching jobs to saving for future children. With more working years under your belt, you're likely making more money than you did in your 20s — but it can still be confusing to know exactly what you should be doing with it to set yourself up for financial success into your 40s and beyond. A 529 plan is a tax-advantaged savings account sponsored and operated by all 50 states and the District of Columbia. If you open a 529 account when your child is born, you'll have around 18 years to save and grow your investments, says Fincher. State tax deductions for 529 contributions also make these college savings plans appealing, though every state is different.

Persons: Andrew Fincher, you'll, Fincher Organizations: Financial, District of Columbia Locations: U.S

☆ ‘I am so scared of them now’: Burned from overspending, some ‘buy now, pay later’ users warn others away
▼ + stars: | 2024-03-30 | by ( J.J. Mccorvey | ) www.cnbc.com time to read: +8 min

But the $6,000 in BNPL loans she'd racked up over roughly two years felt frivolous, she said, especially because they're planning to buy their first home. Many are seeking cover from high credit card interest rates. After trimming her discretionary spending and sticking to home-cooked meals, she said she's been able to whittle down her BNPL debt to about $1,200. Klarna said it had responsible spending limits for its users, whose average outstanding balance is $150, compared to the more than $6,000 for credit card users. Baird, for her part, acknowledged BNPL services can make inflation and high interest rates feel "easier" for those who can keep their shopping impulses under control.

Persons: Tia Whiteside, Whiteside, she'd, Dyson, she's, Marcus, whittle, Ben Lourie, Lourie, aren't, I've, Amy Baird, Baird, Kevin Mahoney, Mahoney, —, Afterpay, Klarna, Sen, Sherrod Brown, Raphael Warnock, John Fetterman, Brown Organizations: LexisNexis, Solutions, University of California, UC Irvine, Singapore Management University, PayPal, Consumer Financial Protection Bureau, Financial, D.C, Sens, NBC News Locations: Greenville , South Carolina, Irvine, Stanford, Dallas, Washington, Ohio

☆ Pet insurance didn't feel worth it—until my cat needed a $3,000 surgery
▼ + stars: | 2024-03-30 | by ( Mike Winters | ) www.cnbc.com time to read: +7 min

My wife and I never gave pet insurance much thought, until our cat Wally needed a $3,000 surgery. My wife and I never gave pet insurance much thought — until we were told our cat Wally needed surgery that would cost nearly $3,000. Apparently, we weren't alone in that thinking, as only about 25% of pet owners have pet insurance, according to a recent NerdWallet survey. What you get with pet insuranceTypically, pet insurance covers accidents, illness and wellness, which pays for routine care like annual exams. How to know whether pet insurance is right for youFinancial planners who spoke with CNBC Make It were divided on whether pet insurance is worth the cost.

Persons: Wally, Mike Winters, periodontitis, there's, Rikin Shah, Carol Fabbri, — Organizations: CNBC, Insurance Locations: Denver

☆ How ISIS has Europe and the US in sights after deadly Moscow attack
▼ + stars: | 2024-03-30 | by ( Tim Lister | ) edition.cnn.com time to read: +12 min

ISIS claimed responsibility for the Moscow attack. Maxim Shemetov/ReutersHe regards the Moscow attack as a “breakthrough success” for the group, demonstrating a level of planning not previously seen beyond south Asia. Russia’s support for authoritarian regimes in central Asia – which ISIS-K has described as Russia’s “puppets” – has deepened the animus. The attitude of the Russian government, both pre- and post- the Moscow attack, may not help it confront the threat. For ISIS-K, the Moscow attack is a coup.

Persons: Erik Kurilla, “, Sanaullah Ghafari, Edmund Fitton, Brown, Fitton, Amira Jadoon, ” Jadoon, Hans, Jakob Schindler, Christine Abizaid, ” Fitton, Maxim Shemetov, –, Gabriel Attal, ”, Jadoon, Putin, Abu Bakr al, Sinai, Vladimir Putin, Assad, Shamsidin, Dalerdzhon Mirzoyev, Muhammadsobir Fayzov, Yulia Morozova, Shamil Hukumatov, ” Putin, ” Schindler, Alexander Bortnikov, they’ll, Rita Katz Organizations: CNN, Analysts, ISIS, Islamic, US Central Command, UN, Taliban, Russian, Clemson University, Counter, ”, K, US National Counterterrorism Center, –, Crocus City, US Defense Department, Paris, Central, Crocus City Hall, St, City, Tajik, Kyiv, SITE Intelligence Locations: State, Ukraine, Gaza, Moscow, Khorasan, Afghanistan, Europe, Asia, Russia, ‘, Islamic State, Pakistan, Iran, Crocus, United States, West, New York, Tajik, Kabul, Afghan, Kandahar, Central Asia, Baujur, Pakistani, Baluchistan, Iranian, Kerman, Germany, al Qaeda, Turkey, France, America, Russian, Sharm el, St . Petersburg, Syria, Kaluga, St Petersburg, Istanbul, Washington

☆ 3 smart money moves to make in your 20s to be more successful
▼ + stars: | 2024-03-27 | by ( Annie Probert | ) www.cnbc.com time to read: +3 min

If you're questioning how to put your money to use in your 20s, here are three smart money moves to set yourself up for success later in life, according to two certified financial planners. The most common forms of debt for twentysomethings include credit cards, auto loans, student loans and personal loans. High interest rates have made paying off debt even harder, and in 2023 people under 29 carried an average of nearly $3,000 in credit card debt. To tackle credit card debt, Rossman recommends either signing up for a 0% balance transfer card or consolidating your credit card debt if you have several balances on different cards. Student loans are another common burden for many young people, with nearly 35% of adults ages 18 to 29 carrying student loan debt, according to the Education Data Initiative.

Persons: you've, Z, Andrew Fincher, Joe Conroy, Ted Rossman, Rossman, Fincher Organizations: Financial, CNBC, Education Data Initiative Locations: what's

☆ Rising temperatures and floods leave cities with hefty bills. Startups are working to help them adapt to climate risks.
▼ + stars: | 2024-03-26 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +10 min

All of this has given rise to climate adaptation, a sector that aims to mitigate against and adapt to the risks associated with climate change. For James Brennan and Navjit Sagoo, two of the scientists behind climate risk analytics startup Climate X, it is imperative that adaption efforts go hand in hand with those working to curb rising temperatures. Indeed, Bank of America analysts predicted the climate adaptation industry would be worth $2 trillion a year by 2026. Climate X made its calculations based on the UN's Intergovernmental Panel on Climate Change's RCP8.5 scenario, which has been deemed to be a "very high" baseline for emissions. Mike Segar/ReutersAll hands on deckThe need for climate adaptation is clear but often overlooked until an extreme weather event occurs, according to Landesman and Chaudhury.

Persons: —, James Brennan, Navjit Sagoo, Abrar Chaudhury, Autarc, Bill Gates, Tucker Landesman, Helge Jørgensen, Mike Segar, Brennan, Sagoo Organizations: Service, Business, Bank of America, Climate, X, Deloitte, University of Oxford's, Business School, New York Times, New, London, Fabian Society, Tech, Breakthrough Energy Ventures, Goldman Sachs, Management, Air, International Institute for Environment, Development Locations: London, New York City, New York, California, Autarc , Massachusetts, Medellin, Colombia, Europe, PitchBook, Mamaroneck, Westchester County , New York, U.S

☆ Saudi Arabia is building the world's first Dragon Ball Z theme park
▼ + stars: | 2024-03-25 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Visitors try out the latest version of Dragon Ball Z Kakarot at the 2019 Gamescom gaming trade fair in Cologne, Germany. Saudi Arabia is set to become home to the first-ever Dragon Ball Z theme park — a 5.3 million square foot entertainment venue announced as part of the kingdom's huge Qiddiya project. Five of the rides at the Dragon Ball Z theme park will be "world firsts," according to the release, one of which will be a 230-foot-high roller coaster called Shenron, named after the series' magical dragon. Vision 2030, the name of this project, a brainchild of Saudi Crown Prince Mohammed bin Salman, has also set a target of 150 million tourists visiting the kingdom annually by 2030. Tourism reached a record for the country in 2023 at 106 million, according to its tourism ministry — an increase of 56% from 2019.

Persons: Prince Mohammed bin Salman, It's Organizations: Toei Animation, Saudi, Public Investment Fund, Nintendo, Tourism Locations: Cologne, Germany, Saudi Arabia, Japan, Riyadh —, Riyadh, City

☆ Activist investor Nelson Peltz says it's 'probably true' that he's a 'bully billionaire'
▼ + stars: | 2024-03-23 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

Read previewNelson Peltz says it's "probably true" that he's a bit of a bully. The wedding planners filed a countersuit, in which they called Peltz a "billionaire bully," saying the family made unreasonable demands on short notice, The Independent reported. Related storiesThe suits were later settled, but the wedding planners made a fair enough assessment of how he lives his life. FT reported Peltz said of his reputation. "Disney is stupid because I'm not trying to fire Bob Iger, I want to help him," FT reported Peltz said: "We don't fire CEOs."

Persons: —, Nelson Peltz, Nicola's nuptials, he'd, Peltz, Trian, Bob Iger, I'm Organizations: Service, Trian Partners, Business, Independent, Financial Times, Disney, Variety, Street Journal, FT Locations: —, Asia

☆ Social Security benefits after divorce: In some cases 'your ex is worth twice as much dead than alive,' expert says
▼ + stars: | 2024-03-19 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

red_moon_riseThe rules around claiming Social Security benefits are full of caveats and nuances. "Your ex is worth twice as much dead than alive," said Mary Beth Franklin, a certified financial planner and Social Security expert. The calculus assumes the first spouse to die had a larger Social Security retirement benefit than the survivor. Social Security rules for married, divorced spousesThe federal government determines Social Security benefits based on age and earnings history. Claiming benefits based on an ex-spouse's earnings record doesn't affect or reduce that former spouse's benefits, Colley said.

Persons: Mary Beth Franklin, Natalie Colley, Sandy, she'd, —, Franklin, Colley Organizations: Social, Social Security, Women, Francis Financial, Social Security Administration, spouse's Social Security, spouse's, SSA Locations: West Palm Beach , Florida, New York

☆ Swarms of drones are a rising threat to the US homeland, and law enforcement isn't ready
▼ + stars: | 2024-03-17 | by ( Michael Peck | ) www.businessinsider.com time to read: +7 min

RAND focused on various ways that terrorists inside the US could wreak havoc with drone swarms. Current technology allows unmanned aircraft to be employed in what RAND terms "surrogate swarm technology," in which formations are only loosely coordinated. James Newsome/US ArmyNations such as America and China are busy developing military drone swarms. Such technology is becoming available to the public: the FAA has already allowed limited use of drone swarms to spray crops. Thus the question isn't if intelligent drone swarms become a domestic security threat, but when.

Persons: —, What's, Alfred Hitchcock's, James Newsome, Daniel Gerstein, Gerstein, isn't, Michael Peck Organizations: Service, RAND Corp, Business, RAND's Homeland, Analysis, Department of Homeland Security, RAND, Kremlin, 11th Armored Cavalry Regiment, Threat Systems Management Office, US Army Nations, FAA, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Afghanistan, Ukraine, Russia, America, China, North Carolina, Forbes

☆ New York City’s Population Shrinks by 78,000
▼ + stars: | 2024-03-14 | by ( Winnie Hu | Stefanos Chen | ) www.nytimes.com time to read: +1 min

City officials said that they were likely to challenge the 2023 census estimates, which they said had significantly underestimated the number of migrants and other people living in group settings, such as shelters and dorms. A spokesman for the Department of City Planning, Casey Berkovitz, said that 180,000 migrants had come to the city since the spring of 2022 and that 64,600 were still in the city’s care. City officials had previously projected that New York City would reach 9 million within two decades. Though the latest census numbers are a marked improvement over recent years, the turnaround has mostly benefited New York City’s more affluent areas, said Andrew Beveridge, the president of Social Explorer, a demographic data firm that analyzed the numbers. “But it’s the struggling people that leave for good.”Four of the five boroughs continued to see population declines in 2023, according to the latest census estimates.

Persons: Casey Berkovitz, Andrew Beveridge, ” Mr, Beveridge Organizations: Department of City Planning, New, Manhattan, Social Locations: New York City, New York

☆ Bike lanes are good for business
▼ + stars: | 2024-03-07 | by ( Adam Rogers | ) www.businessinsider.com time to read: +13 min

Freaked-out business owners have been fighting bike lanes coast to coast, in cities from San Diego to Cambridge, Massachusetts. Rowe compared sales taxes in these “Neighborhood Business Districts” with those in similar districts in the city that didn’t get bike lanes. In one NBD, which replaced car lanes and three parking spots with two bike lanes, sales closely tracked those in the bike-less areas, both in peaks and troughs. Sometimes nothing changed, but more often the areas near bike lanes wound up with more employees and more revenue. It’s the new normal.” All the data in the world may prove that bike lanes are good for business.

Persons: —, ”, Joseph Poirier, Nelson Nygaard, “, It’s, I’ve, Kyle Rowe, Rowe, it’s, Poirer, Jenny Liu, Wei Shi, Liu, Poirier, Shi, ” Liu, downtowns, who’s, Larisa Ortiz, ” Poirier, Adam Rogers Organizations: —, University of Washington, New York City Department of Transportation, ”, San, Portland State University, Center for Urban Studies, Portland State, Boston Globe, Automobile, Getty, Business Locations: San Diego, Cambridge , Massachusetts, Los Angeles, Seattle, New York, Brooklyn, Manhattan, Bronx, ”, San Francisco, there’s, Oregon, Portland, San Francisco , Minneapolis, Memphis, Minneapolis, America’s, downtowns, United States, Chicago ; New York City, Angeles

☆ 4 tips financial planners are always giving solopreneurs and small-business owners
▼ + stars: | 2024-03-06 | by ( Bella Sayegh | ) www.businessinsider.com time to read: +7 min

Solo business owners face unique challenges in managing business finances. Starting simple and delegating tasks are important skills to help owners stay organized. Build in necessary expensesSolopreneurs often operate all aspects of their business — building a product, dealing with customers, and keeping track of finances. Business owners should also be mindful of how they go about outsourcing these services , Camp added. Camp said these resources could help solo business owners build their teams and stay organized without losing money.

Persons: —, Rachael Camp, you’re, it's, ” Camp, Kathryn Knighton, Knighton, ”, Camp, “, ” Knighton, don’t Organizations: Service, Wealth, Camp, Business, Small Business Administration Locations: ” Knighton

(Photo by WANG Zhao / AFP) (Photo by WANG ZHAO/AFP via Getty Images)BEIJING — China's top securities regulator vowed to "strictly" crack down on market manipulators, while stating that protecting small investors was a "core task." Wu outlined measures deemed necessary to improve the quality of listed companies and increase returns on investment. They include: encouraging listed companies to improve stability, timeliness and predictability of dividend payouts, stricter delisting rules, and expanding inspections of listed companies. "China's market is the second largest in the world, but it's not as strong," Wu said, adding the recent market volatility exposed deep-seated issues. At the same press conference, Pan Gongsheng, governor of the People's Bank of China, also pledged support for overseas listings for high-quality Chinese companies.

Persons: Wu Qing, WANG Zhao, WANG ZHAO, Wu, it's, Pan Gongsheng Organizations: China Securities Regulatory Commission, National People's Congress, Getty Images, People's Bank of Locations: China, Beijing, AFP, BEIJING, People's Bank of China

☆ Why Are Pants So Big (Again)?
▼ + stars: | 2024-03-03 | by ( Jonah Weiner | ) www.nytimes.com time to read: +1 min

My pants had been slim for some 15 years, since so-called skinny jeans first hit the market in earnest, around 2005. Narrow silhouettes quickly spread, until they felt less like a trend and more like a structural fact of existence: A decade after their ascendance, slim-fit pants remained common currency across generations, demographics and body types. BTS, at the time the biggest pop group in the world, wore them. And then, in a rupture whose center I place within the broader pandemic-era upheavals of 2020, the “right” pants began to lurch away from the leg at scale. Jeans, a kind of Patient Zero for pants trends, showed symptoms of acute-onset elephantiasis.

Persons: we’d, Paul O’Neill, Levi’s, ” He’d Locations: Chicago, Hollywood, Greenwich

☆ Home Equity Loan Alternative Could Revolutionize the Housing Market
▼ + stars: | 2024-02-28 | by ( James Rodriguez | ) www.businessinsider.com time to read: +16 min

Like a lot of homeowners, Schummer was keen to convert some of his theoretical wealth into real cash. These kinds of deals, often referred to as home-equity-sharing agreements or home-equity investments, have existed on the fringes of housing finance for decades. The success or failure of home-equity investments could shape the future of homeownership in America. If the home's value has gone up, everyone wins; sell it for a loss, and the investor might share in that downside. "Over time for us, the customer becomes everybody," Eoin Matthews, the chief business officer and a cofounder of Point, told me recently.

Persons: Kennis Schummer, Schummer, Laurie Goodman, Goodman, he'd, Eoin Matthews, —, Hometap, Jim Riccitelli, Riccitelli, Adam Rust, Rust, Rust wasn't, I'm, Jordan Gilberti, Holly Bunting, Mayer Brown, Edwin Remsberg, Matthews, they'd, Jeffrey Glass, Glass, I've, he's Organizations: Consumer, Urban Institute, Federal Reserve, Bain Capital, Palisades Group, Redwood Trust, Getty, Consumer Federation of America Locations: Pensacola , Florida, California, homeownership, America, Connecticut, Maryland, Florida

☆ These surprise sources of income could cost you during tax season
▼ + stars: | 2024-02-28 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Investors are celebrating a year of easy-to-obtain interest income, but the Tax Man will want his slice this spring. Institutions report interest income of $10 or more to their customers and the Internal Revenue Service on Form 1099-INT . For instance, you can be on the hook for an accuracy-related penalty of 20% of the underpayment of the tax. Interest income from these I bonds is subject to federal income tax, but investors don't receive it until they redeem the bond or it matures. "It might be worth it to buy the MLP and pay the tax," Kearns said.

Persons: Elizabeth Buffardi, Buffardi, you'll, Jerrod Pearce, Adam Markowitz, Brian Kearns, Kearns Organizations: Internal Revenue Service, IRS, CPA, Creative Planning, Luminary, CFP, Haddam, Advisors, MLP Locations: Oak Brook , Illinois, Overland Park , Kansas, Windermere , Florida, Evanston , Illinois

Go beyond financial literacy"Gone are the days that we can hide behind the illusion that more financial literacy is enough," says Rahkim Sabree, AFC, financial therapist and counselor. Currently, 25 states require financial literacy education for students; however, rarely, if ever, does financial literacy address larger systemic issues that exist. Black students owe an average of 188% more than what white students borrowed by the fourth year after graduation. One 2016 study found that if current trends continue, closing the wealth gap would take more than 200 years. AdvertisementYounger Black Americans have now become the fastest-growing demographic of new investors in the stock market.

Persons: —, Martin Luther King, Jr, Moritz Kuhn, Moritz Schularick, Ulrike I, Rahkim Sabree, We've, Kristin Afelumo, Lazetta Rainey Braxton, Braxton Organizations: Service, Business, Federal Reserve Bank of Minneapolis, Black, National Bureau of Economic Research, Economic Policy Institute, AFC, Bureau of Labor Statistics, Netflix, Lazetta, Associates Locations: America, Evanston , Illinois, Black

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