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My wife and I just got married, but we've been open about our finances our whole relationship. For some expenses like retirement planning, keeping our finances separate makes sense. That means we're able to work toward our financial goals of finding our forever home, paying off any student loan debt, and allocating funds for things we love, like vacations and dinners at our favorite restaurants. We're planning our retirements separatelyAlthough we are a couple, we keep some aspects of our finances separate. SmartAsset's free tool matches you with up to three fiduciary financial advisors that serve your area in minutes.

Persons: we've, —, Roth, it's, we're, doesn't Organizations: Service, Urban Outfitters

☆ Only 15% of Gen Z regularly saves a portion of their paycheck—how to start saving more today
▼ + stars: | 2024-08-23 | by ( Jade Thomas | ) www.cnbc.com time to read: +1 min

Gen Z adults aren't saving their money. Only 15% of Gen Z regularly puts a portion of their paycheck into a savings account, according to a recent Bank of America survey. And just 1 in 5 Gen Zers are contributing to a retirement account. Gen Z is typically defined as those born between the years of 1997 and 2012. The good news: Gen Zers are still under 30, and have plenty of time to save money and develop smart financial habits.

Persons: Gen Z, Zers, Gen, it's, Douglas Boneparth, Winnie Sun, Sun, you've Organizations: of America, Sun Group Wealth Partners

watch nowAs the 2024 U.S. elections reach their home stretch, crypto companies are opening their wallets to try and influence the results. Nearly half of all the corporate money flowing into the election has come from the crypto industry, according to a report this week from the nonprofit watchdog group Public Citizen. More than 90% of the corporate crypto cash that's been raised was brought in this election cycle. Public Citizen's report found that of the 42 primary races that attracted money from crypto-backed super PACs, the candidate picked by the crypto industry won 36. "When Fairshake and its affiliates spend money to influence races, either by attacking crypto skeptics or boosting crypto supporters, the ads don't mention crypto at all," said Claypool.

Persons: Biden, Donald Trump, Rick Claypool, Coinbase, Andreessen Horowitz, Crypto, Brian Armstrong, Fairshake, It's, Claypool, Chuck Schumer, Kamala Harris's, Joe Biden, Harris, Faryar Shirzad, Trump, CNBC hasn't Organizations: Public Citizen, Securities and Exchange Commission, Republican, Senate, Supreme, Citizens, Federal, PAC, Public, CNBC, Trump, White Locations: Nashville , Tennessee, New York, California, cryptocurrencies, San Francisco, Nashville, United States

☆ Wyoming is pushing crypto payments and trying to beat the Fed to a digital dollar
▼ + stars: | 2024-08-23 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

As crypto investing becomes more mainstream and institutionalized with bitcoin ETFs, Wyoming is already pushing into the next phase of growth for crypto: consumer payments. The visionWyoming is currently vetting potential partners and vendors with more tech expertise to help build the stable token. From there, it should be just another payment method for everyday things, said Flavia Naves, a commissioner at the Wyoming Stable Token Commission. "This is a public token as well so as with any public service, all the information is available." The commission invites the public virtually to its meetings on the stable token and posts the minutes to its website afterward.

Persons: Long, Gordon, Washington's, Mark Gordon, it's, Flavia, we've Organizations: CNBC, treasuries, Treasurys, State, U.S ., Treasury, Federal Reserve, Atlantic Council Locations: United States, Wyoming, Jackson, Jackson , Wyoming, Solana

This means that CD rates of 5% APY will likely decline and get less competitive. CD ladders can help you earn a great rate for longer, no matter what happens to CD rates. The best CD rates for short-term CDs are currently around 5% annual percentage yield, but that might not stay true for long. Building a CD ladder with terms paying 5% or moreRight now, short-term CDs offer better rates than long-term CDs, so our example CD ladder is shorter-term. CD ladders aren't suited to every purposeWhile CD ladders can be a good strategy for locking in high interest rates while maintaining liquidity, they aren't suited to every purpose.

Persons: Uziel Gomez, Gomez, you'll, You'll, Kit Pulliam, They’ve, Kit Organizations: Federal Reserve, AFC, Primeros, Pulliam, Business, Tax, MSN, Vanderbilt University Locations: U.S

Check price at Fubo What we like Check mark icon A check mark. Hulu + Live TVHulu + Live TV Hulu + Live TV includes over 90 channels, along with Hulu's on-demand library and access to Disney Plus and ESPN Plus. Check price at Hulu What we like Check mark icon A check mark. Check price at ESPN What we like Check mark icon A check mark. Check price at Amazon Prime Video What we like Check mark icon A check mark.

Persons: we've, Hulu's, There's, Max Max, Max, It's, Peacock, don't, We've Organizations: Business, AMC, TNT, TBS, CNN, ABC, CBS, FOX, NBC, ESPN, ESPN2, ION, NBA TV, NFL Network, MLB Network ABC, MLB, AMC TNT, Pro, Elite, NBA, NHL, TV, FS1, Hulu, Disney Plus, Disney, Nintendo, Showtime, MLB Network, NFL Network ABC, NFL, ION AMC, Tennis Channel, UFC, Doesn't, Paramount, Paramount Plus, Nickelodeon, Comedy Central, BET, MTV, UEFA Champions, Paramount Pictures, CBS Sports Network, Big Ten, UEFA Champions League, HBO, Max, Warner Bros, Parks, Recreation, NBC Sports, Amazon, Thursday, Football, Apple, Leagues Cup, MLS Locations: Hulu

☆ There's still time to max out 401(k) contributions for 2024 — but some investors shouldn't, experts say
▼ + stars: | 2024-08-23 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

There's still time to boost 401(k) contributions and max out your plan account for 2024, but not everyone should, according to financial advisors. For 2024, employees can defer up to $23,000 into 401(k) plans, up from $22,500 in 2023, with an extra $7,500 for workers age 50 and older. Some 14% of investors maxed out their 401(k) employee deferrals in 2023, according to a 2024 report from Vanguard. Meanwhile, the average 401(k) savings rate in 2023 — including employee deferrals and company contributions — was an estimated 11.7%, which matched a record high from 2022, the same Vanguard report found. If you can afford to go further and max out your 401(k) for 2024, here are three things to consider first, experts say.

Persons: There's, Donald LaGrange, Murphy, Walz's, LaGrange, deferrals, — Organizations: Sylvest Wealth Management, Finance, Social Security, Vanguard Locations: Dallas

☆ My kids were embarrassed when we moved into a hotel. They ended up loving it, but I'm worried about where we'll live next.
▼ + stars: | 2024-08-23 | by ( Suzanne Hayes | ) www.businessinsider.com time to read: +5 min

I wanted my kids to know our new setup was not one to take for granted. The author moved with her three kids to a hotel room. But I also know they know this is not forever. I don't know when we are moving out exactly and I certainly don't know where we are going (or how I am affording it). At times, yes, I get scared about what's next, but I know that wherever we end up, we will make it a home.

Persons: what's Organizations: Service, Rentals

☆ How much money you need to be financially comfortable in 12 major U.S. cities
▼ + stars: | 2024-08-23 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

The phrase "financially comfortable" doesn't have a strict definition. In San Francisco, the net worth you'd need to feel "comfortable" is $1.5 million, according to a survey sample of 750 residents in that city — the highest amount cited among 12 major U.S. cities surveyed. Much of the difference in net worth thresholds between cities is due to shelter costs, especially in cities with severe housing shortages, like San Francisco, Los Angeles and New York City. While feeling "financially comfortable" is a subjective term, the survey makes a distinction between that and feeling "wealthy." For cities, it ranges from $4.4 million in San Francisco to $2.2 million in Dallas.

Persons: Charles Schwab's, that's Organizations: Wealth Survey, Boston, Denver, Seattle, Atlanta, Dallas, Houston, Phoenix, CNBC Locations: San Francisco, U.S, Franciscans, Francisco, California, Los Angeles, San Diego, York City, Washington, Chicago, San Francisco , Los Angeles and New York City, Dallas

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin rises after Fed Chair Powell lays groundwork for interest rate cuts: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Dennis Kelleher of Better Markets discusses his op-ed encouraging Kamala Harris to reject pressure from the crypto industry. Plus, Wyoming Gov. Mark Gordon discusses the state's stablecoin project.

Persons: Powell, explainers, Dennis Kelleher, Kamala Harris, Mark Gordon Organizations: CNBC Crypto, CNBC, Better Markets, Wyoming Gov

☆ I'm quitting my job at a big tech company to travel. Hustle culture is overrated — I'm taking a year off.
▼ + stars: | 2024-08-23 | by ( Maria Noyen | ) www.businessinsider.com time to read: +6 min

Read previewThis as-told-to essay is based on a conversation and emails with Nadia Said, a 25-year-old IT project manager at a major tech company where she started working full-time in 2020. When I was in my second year at Temple University, I got the opportunity to work at my company as an intern. Nadia Said, 25, is putting her burgeoning career in tech to focus on her mental health and passion for travel. I was talking to a friend who was working at a tech company. My big fear is that when I come back, I'm going to be ready to get a job and there won't be one available for me.

Persons: —, Nadia Said, Said, Hannah Vy Nguyen, ED JONES, what's, haven't, it's, I'm, I've Organizations: Service, Business, Temple University, Google, Microsoft, Getty Locations: Asia, South Korea, Europe, India

I had been saving to buy a house, but prices in Southern California have made that unlikely. I decided to stop focusing on trying to buy a house, which means I can put more toward retirement. I'm okay knowing I might be renting for life, as it means I can streamline my finances. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Retirement Planning The best robo advisors can help you start your retirement planning journey.

Persons: —, I've, I'm, homeownership, Roth, it's, There's Organizations: Service, realtors, SoFi Locations: Southern California, Los Angeles

☆ How investors can prepare for lower interest rates: It's 'like getting a haircut,' advisor says
▼ + stars: | 2024-08-23 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Lower interest rates are "generally positive for stocks," said Marguerita Cheng, a CFP and chief executive of Blue Ocean Global Wealth, based in Gaithersburg, Maryland. Considerations for cash, bonds and stocksFalling interest rates generally means investors can expect lower returns on their "safer" money, advisors said. High interest rates have meant investors enjoyed fairly lofty returns on these lower-risk holdings. Winnie Sun co-founder and managing director of Sun Group Wealth PartnersHowever, such returns are expected to fall alongside declining interest rates, advisors said. "They'll be crying in six months when interest rates are a lot lower," she said.

Persons: Jerome Powell, Andrew Harnik, Winnie Sun, Lee Baker, Powell, Stephen Brown, Marguerita Cheng, Sun, Powell didn't, Ted Jenkin, Carolyn McClanahan Organizations: Getty, Sun Group Wealth Partners, Financial Advisors, Finance, North, Capital Economics, Blue, Sun Group Wealth, Planning Partners Locations: Irvine , California, Atlanta, Jackson Hole , Wyoming, U.S, North America, Gaithersburg , Maryland, Jacksonville , Florida

☆ 42-year-old sold his startup for $1.3 billion—he started by buying a $17,500 camera he couldn't afford
▼ + stars: | 2024-08-23 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +6 min

Emery Wells put himself on the path to a dream career by recklessly buying a $17,500 camera that he definitely couldn't afford. By 2014, his post-production company Katabatic Digital brought in more than $1 million in annual revenue from clients like Coca-Cola and Pfizer. Wells: Post-production is client service work. Did you always think Frame.io could become a billion-dollar company? I don't know if we're really going to get there."

Persons: Emery Wells, who'd, Wells, John Traver, shuttering, Traver, I'd, Mark Zuckerberg, Mark, we're Organizations: CNBC, Adobe, Digital Cinema, Katabatic, Cola, Pfizer, Frame.io Locations: Wells, New York, Katabatic

☆ Trump promotes family's new crypto platform, 'The Defiant Ones'
▼ + stars: | 2024-08-22 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

Republican presidential nominee and former U.S. President Donald Trump gestures at the Bitcoin 2024 event in Nashville, Tennessee, U.S., July 27, 2024. Former President Donald Trump on Thursday promoted a soon-to-launch, Trump Organization crypto platform, "The DeFiant Ones" to his 7.5 million followers on Truth Social . Within minutes, his son Donald Trump Jr., shared the post with his 12 million X followers. Trump's post includes a link to a Telegram channel called "The DeFiant Ones," which had approximately 29,000 followers as of Thursday morning, and climbing. In May, he became the first major presidential nominee to accept cryptocurrency donations, and in July, the Republican presidential nominee headlined the biggest bitcoin event of the year in Nashville, Tennessee.

Persons: Donald Trump, Trump, Donald Trump Jr, Eric Trump, Donald Jr, Eric, Kamala Harris, Trump's Organizations: Trump Organization, Truth, Republican, Trump, New York Post, Trump senior, Solana Locations: Nashville , Tennessee, U.S, cryptocurrency

☆ The explosion of online sports betting is taking a toll on how people invest
▼ + stars: | 2024-08-21 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

Algerina Perna | Baltimore Sun | MCT | Getty ImagesThe explosion of online sports betting is taking a toll on personal finances, particularly among those who are financially distressed. The authors found that sports betting has exploded since the Supreme Court overturned a federal law prohibiting it in 2018. Those who participate tend to invest less and have higher debt levels. "Two to three years after betting becomes legal, there is a noticeable drop in net investment relative to states where betting is not yet legal," the report said. The higher credit card debt indicates that these households are not just shifting funds from one type of entertainment to another (for example, shifting money from betting on lotteries to betting on sports).

Persons: Algerina Perna Organizations: Baltimore Sun

☆ Startup using blockchain to prevent copyright theft by AI is valued over $2 billion after fresh funding
▼ + stars: | 2024-08-21 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

Generative AI models require huge amounts of training data to enable their systems to produce advanced outputs. But the data that goes into them is often from sources where copyright restrictions are in place. The round values the two-year-old company at $2.25 billion, sources familiar with the matter told CNBC. Fighting AI copyright theftStory is now trying to tackle a timely problem with its tech — theft of copyrighted media on the internet by powerful generative AI models like OpenAI's ChatGPT. But the data that goes into fueling these AI models is often from sources where there's copyright restrictions in place.

Persons: Story, Andreessen Horowitz, Polychain, Smart, Story's, Lee, it's, Dolce Organizations: Getty, San, CNBC, Balmain, Gabbana, Brands, New York Times, Microsoft, Times, Big Locations: Francisco

With revenge travel over and pandemic savings depleted, travelers say they're planning fewer trips this summer, or skipping their vacations altogether. "After two straight years of strong gains, the number of Americans planning to take leisure trips is taking a dip," states a summer travel report from Deloitte Insights. 'Too expensive' to travel nowAmericans are planning 2.3 trips this summer, down from 3.1 trips from the summer of 2023, according to Deloitte's survey of more than 4,000 people. watch nowThe number of people who said they're avoiding summer travel altogether increased from 37% to 42%, the report showed. Those generations are spending less on airfare and hotel accommodations too, said Baig, suggesting a cutback in travel spending may be a normalization of the market following the end of revenge travel.

Persons: they're, Sofia Baig, Gen Zs, Baig, Zs Organizations: Deloitte, Marriott, Wyndham, Morning Locations: Hyatt, Airbnb

☆ Travel isn’t dead. It’s just taking a vacation
▼ + stars: | 2024-08-19 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

New York CNN —CEOs of many of the biggest US hotel and travel companies are coming off a bit like doomsayers these days with their warnings about the declining health of consumers and their waning appetite for travel. Gary Hershorn/Getty ImagesMuch of the revenue growth that travel companies reported in recent years resulted from inflation, said David Tinsley, a senior economist at Bank of America Institute. “It was always going to be tough to expect travel spending to be showing the kind of momentum it showed 12 months ago,” he told CNN. “I don’t think the current situation is particularly bleak — it’s reasonable to see more normalization playing out,” he said, referring to travel spending getting back on par with pre-pandemic trends. Still, it’s not hard to see why this mixed picture is prompting travel companies to tread carefully.

Persons: —, ”, Brian Chesky, “ It’s, Ellie Mertz, Chris Nassetta, Airbnb’s Mertz, haven’t, Jan Freitag, ” Freitag, Walt Disney, Gary Hershorn, David Tinsley, Tinsley, “, Steve Hafner, it’s Organizations: New, New York CNN, Conference, Bank of America Institute, CNN Locations: New York, ”

☆ New Realtor Rules Will End Casual House Hunting, Change Homebuying
▼ + stars: | 2024-08-19 | by ( James Rodriguez | ) www.businessinsider.com time to read: +13 min

They'll hand 5%, or $25,000, to their agent, who then gives half, or $12,500, to the buyer's agent. They also feared that buyers' agents might "steer" clients away from homes that dared to offer less than the going rate. But in order to keep using the MLS, buyers' agents will have to abide by another rule that will further upend the old way of doing things. In the old days, a seller might have unthinkingly offered a commission of 2% or even 3% to the buyer's agent. The idea that sellers pay both agents' commissions has always been a clever sleight of hand.

Persons: they'll, didn't, Laura Ellis, they'd, Sellers, Tanya Monestier, Monestier, Ellis Organizations: Realtors, Baird & Warner, MLS, National Association of Realtors, NAR, Consumer Federation of America, California Association of Realtors, CFA, University at Buffalo Locations: Chicago, America, California

☆ Revolut secures new $45 billion valuation following secondary share sale with major investors as it targets a potential IPO
▼ + stars: | 2024-08-16 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

Read previewRevolut has secured a $45 million valuation via a secondary share sale, despite a wider slump in fintech valuations. The London-based neo-bank, which recently secured a banking license in the UK, has signed agreements with institutional investors over a share sale that significantly boosts the company's valuation. That round came at the height of the tech market's COVID-19 boom, and Revolut has not raised primary capital from investors since. This secondary deal allows employees to profit from their stakes in the company and also cements the fintech as Europe's most valuable tech startup ahead of a prospective IPO. Revolut has 45 million customers and offers bank accounts, savings options, and trading in stocks and cryptocurrencies.

Persons: —, Revolut, We're, Nik Storonsky, SoftBank, Matt Cooper, Revulot, Cooper, Starling Organizations: Service, D1 Capital Partners, Tiger, Business, Prudential, Authority, Financial Times Locations: London, Europe

☆ NBCUniversal is pinning Peacock's streaming success on its $2.45 billion per year NBA deal
▼ + stars: | 2024-08-15 | by ( Alex Sherman | In Alex-Sherman | ) www.cnbc.com time to read: +7 min

On Jan. 13, NBCUniversal's subscription streaming service Peacock showed its first-ever exclusive NFL playoff game — a 26-7 victory by the eventual Super Bowl-winning Kansas City Chiefs over the Miami Dolphins. For NBCUniversal, obtaining NBA rights helps guarantee sustainability in a fight for eyeballs against streaming behemoths such as Netflix , Amazon Prime Video and Disney +. Beginning with the 2025-26 season, Peacock will have about 50 exclusive national regular-season and postseason NBA games, including national Monday night games and doubleheaders. Having exclusive NBA games is really important for that mission." Discovery decided not to compete with NBCUniversal for NBA rights once the price tag ballooned past $2 billion per year.

Persons: Angela Weiss, Rick Cordella, Peacock, Patrick Mahomes, Kansas City Chiefs Jamie Squire, Cordella, NBCU, they've, David Berson, Jessica Reif Ehrlich, Ehrlich, NBCUniversal, Adam Silver Organizations: NBA, AFP, Getty, Comcast, NBC Sports, Disney, NFL, eventual, Kansas City Chiefs, Miami Dolphins, Nielsen, Research, Peacock, Premier League, WWE, IndyCar, Recreation, Sports, Media, Netflix, Amazon Prime, Paramount, CBS Sports, Skydance Media, Warner Bros . Discovery, Bank of America, NBC, Warner Bros, Discovery, TNT, ABC, ESPN, Hollywood, CNBC Locations: New York, U.S, Peacock

☆ Goldman Sachs jumps into bitcoin ETFs and one hedge fund gets bullish on miners
▼ + stars: | 2024-08-15 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

Goldman Sachs went big in the quarter, while rival Morgan Stanley trimmed its crypto holdings. In the period from March through June, Goldman Sachs made its debut in the crypto ETF market, purchasing $418 million worth of bitcoin funds. Up to this point, wealth management businesses have only facilitated trades if customers requested exposure to the new spot crypto funds. The vast majority of the bank's spot bitcoin holdings are now through the iShares trust. HSBC has nearly $3.6 million worth of spot bitcoin holdings, all from the fund issued by Ark 21Shares, UBS has around $300,000 worth of spot bitcoin ETF holdings, and Bank of America has collective holdings of around $5.3 million, mostly from BlackRock and Fidelity.

Persons: Goldman Sachs, Morgan Stanley, Morgan, JP Morgan, Ark 21Shares Organizations: SEC, Wall, JPMorgan, Securities and Exchange Commission, Fidelity, BlackRock, HSBC, UBS, Bank of America Locations: BlackRock's, Grayscale's, BlackRock

☆ Social Security benefits aren’t keeping up with inflation
▼ + stars: | 2024-08-14 | by ( Tami Luhby | ) edition.cnn.com time to read: +4 min

But the widowed 78-year-old now has to skimp on her meals because her Social Security benefits haven’t kept up with the rising costs for food, housing and health care in recent years. Social Security benefits have lost 20% of their buying power since 2010, according to a recent analysis by The Senior Citizens League, an advocacy group. Every January, Social Security recipients get an annual cost-of-living adjustment, known as a COLA, but the increases often don’t keep up with the actual rise in prices – hurting senior citizens, many of whom live on fixed incomes and depend heavily on their Social Security benefits. Social Security benefits have risen by 58% between 2010 and 2024, but the cost of goods and services purchased by typical retirees jumped 73% during that time, the league said. For Albrecht, it feels like her Social Security benefits have lost more than 20% of their buying power.

Persons: Janet Albrecht, haven’t, Albrecht, hasn’t, ”, Shannon Benton, That’s, “ Organizations: CNN, Security, Social, Social Security, Senior Citizens League Locations: an Indiana , Pennsylvania

☆ An Australian boomer retired in Thailand on an $18,000 annual pension. He saves almost half his income and can still travel the world.
▼ + stars: | 2024-08-14 | by ( Allie Kelly | ) www.businessinsider.com time to read: +4 min

This story is available exclusively to Business Insider subscribers. Walker now lives off his roughly $18,000 annual pension (AU$28,000), according to bank statements reviewed by Business Insider. And, because his expenses in Chiang Mai are so low, Walker said he is able to save about 40% of his income. Business Insider has heard from Americans who moved from Texas to Panama, California to Italy, and Minnesota to Mexico, all in search of exciting travels and reduced financial stress. In Thailand, Walker said he has met people from all over the world.

Persons: —, John, Walker, Chiang, Chiang Mai, It's Organizations: Service, Business, Social Security Administration Locations: Chiang Mai, Thailand, Western Australia, Texas, Panama , California, Italy, Minnesota, Mexico, Chiang, Australia, Spain, Majorca, Costa Rica

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