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☆ Here’s how much Americans have in their 401(k)s at every age
▼ + stars: | 2023-06-03 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Gen Z's retirement savings have grown more than any other generational cohort over the past year, Fidelity Investment's latest retirement analysis reveals. Fidelity defines Generation Zers as those born between 1997 and 2012. The average 401(k) balance for a Gen Zer is about $7,100, as indicated by Fidelity data provided to CNBC Make It — significantly higher than the cohort's median 401(k) balance of $2,500. This disparity isn't unique to Gen Z: Americans' average overall 401(k) balance is $108,200, compared to a median of around $23,700. Here's how much Americans have saved in their 401(k)s by generation, according to Fidelity:

Persons: Gen, Gen Zers, It's Organizations: Fidelity, CNBC

☆ Nvidia is worth nearly $1 trillion—here’s how much you’d have if you invested a decade ago
▼ + stars: | 2023-06-01 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

When it crossed that threshold, Nvidia momentarily became the fifth publicly traded U.S. company to surpass the $1 trillion mark. What Nvidia's rise means for investorsOn May 25, Nvidia reported first-quarter earnings for its fiscal 2024, which were better than expected. The company reported revenue of $7.19 billion for the quarter, beating the $6.52 billion analysts predicted, according to Refinitiv consensus estimates. Nvidia reported adjusted earnings per share of $1.09, which surpassed the $0.92 analysts expected. Nvidia shares have risen a little over 159% since the start of the year as of the close of trading on May 31.

Organizations: Nvidia, Wall, U.S, Apple, Microsoft, Research Locations: Santa Clara , California

☆ AI is the latest buzzword in tech—but before investing, know these 4 terms
▼ + stars: | 2023-05-26 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

ChatGPT, the viral chatbot that generates conversational responses to written inputs from users, has made artificial intelligence (AI) the latest buzzword in tech. AI took center stage at Google's annual developer's conference on May 10, where the company announced that its search engine would incorporate AI in order to synthesize search results for users. The company also plans to integrate AI into Gmail to help users write emails. The company has also infused its popular Microsoft 365 apps, including Word and Excel, with a new set of AI features dubbed "Copilot." Here are four AI terms to know.

☆ From Amazon to Wendy's, how 4 companies plan to incorporate AI—and how you may interact with it
▼ + stars: | 2023-05-19 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Artificial intelligence is no longer limited to the realm of science-fiction novels — it's increasingly becoming a part of our everyday lives. AI chatbots, such as OpenAI's ChatGPT, are already being used in a variety of ways, from writing emails to booking trips. In fact, ChatGPT amassed over 100 million users within just months of launching. AI's boom in popularity has many companies racing to integrate the technology into their own products. Here are four companies that are already utilizing AI's capabilities and how it may impact you.

☆ The 10 worst U.S. states to retire in
▼ + stars: | 2023-05-13 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

But it may not be the best state to spend your post-work years. Kentucky ranks as the worst state to take up retirement in 2023, according to a WalletHub study. WalletHub ranked all 50 U.S. states based on three key categories: affordability, quality of life and health care. That means that even if a state ranked highly in one category, a much lower ranking in another category could lower its overall position. Here are the 10 best and worst states to retire in 2023, according to WalletHub:

☆ Your credit card debt is probably about to get more expensive—here’s why
▼ + stars: | 2023-05-11 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

The Federal Reserve's latest interest rate hike means your credit card debt will likely get more expensive to pay off if you carry a balance month to month. However, it's rare that you'll receive a credit card with that interest rate. Typically, credit card interest rates are much higher to account for the costs incurred by the card issuer and the risk of some cardholders not paying back their debt, Rossman says. Currently, the average credit card annual percentage rate (APR) is about 22% for new offers and 20% for existing accounts, according to WalletHub's "Credit Card Landscape Report." Tips for tackling credit card debt

☆ Here’s how much money you’d have if you invested $1,000 in Disney 10 years ago
▼ + stars: | 2023-05-11 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Disney is bringing back two fan favorites in order to "improve the guest experience" at its Florida parks, the company said. Starting Jan. 9, 2024, date-based tickets, the Walt Disney World Resort's standard ticket option, will no longer require guests to make an additional reservation at specific theme parks. However, a theme park reservation may still be required for other admission types, including non-dated tickets, Disney said. Additionally, beginning Jan. 9, 2024, Disney is bringing back its popular dining plan option for guests who stay at Disney Resort hotels and purchase vacation packages with the company. Theme parks accounted for about $5.5 billion of that revenue.

☆ Charlie Munger is skeptical of AI: 'Old-fashioned intelligence works pretty well'
▼ + stars: | 2023-05-09 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Billionaire investors Warren Buffett, 92, and Charlie Munger, 99, aren't hopping onto the artificial intelligence (AI) hype train. "I'm personally skeptical of some of the hype that has gone into artificial intelligence," Munger said. Buffett has previously questioned whether AI technology like ChatGPT is beneficial to society, but also said the technology is outside of his area of expertise. Munger has previously regarded artificial intelligence as a "mixed blessing." "Artificial intelligence is not going to cure cancer," he added.

☆ Mark Cuban says the potential impact of AI tools like ChatGPT is 'beyond anything I’ve ever seen in tech'
▼ + stars: | 2023-05-05 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Billionaire Mark Cuban believes artificially intelligent (AI) chatbots like Open AI's ChatGPT are still in the beginning stages of development. But the potential impact of this new technology is "beyond anything I've ever seen," he tells CNBC Make It. On Monday, Cuban compared ChatGPT's debut to the introduction of HTML in the early days of the Internet in a tweet. "Everyone knew it would be impactful, but we made it seem far more complicated that it was," Cuban said of HTML. It's the basic coding language used to build websites and determine how they appear to users.

☆ Florida is the No. 1 U.S. state retirees are moving to—here's where else they're going
▼ + stars: | 2023-04-30 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Retirees are flocking to Florida. The Sunshine State saw a massive influx of residents over 60 in 2021, according to a recent SmartAsset study. The study defines retirees as Americans aged 60 and older, although SmartAsset notes that not all Americans over 60 are retirees. SmartAsset calculated each state's net migration by subtracting the number of people over 60 who moved out of a state from the number who moved in. Here are the top 10 states retirees moved to in 2021, according to SmartAsset.

Bitcoin officially launched in 2009, and now, 14 years later, over 15,000 digital coins make up the cryptocurrency market, according to crypto.com. Although the industry was once valued at around $3 trillion, the crypto market lost a little over $2 trillion in value in 2022 in what has been dubbed "crypto winter." Last year, a string of high-profile crypto companies filed for bankruptcy, and FTX, a crypto exchange platform that was once valued at $32 billion, collapsed. As of April 25, its price hovered around $28,000, far below the $68,000 it reached at its peak in November 2021. Test your knowledge with CNBC Make It's Crypto 101 quiz.

☆ The No. 1 mistake this self-made millionaire sees first-time investors make: Your money is in 'financial purgatory’
▼ + stars: | 2023-04-25 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

However, there's a common mistake she sees many beginners make: not actually investing their money. "If you just put your money into something like a Roth IRA or a 401(k), it's in financial purgatory," she says. After setting up your Roth IRA with an online broker and making contributions to the account, investors need to actually invest that money in something, such as an index fund or a target-date fund. "It's like a gift card," Dunlap explains. "You put money on a gift card and then you have to go buy things."

☆ Here’s how much money you'd have if you invested $1,000 in the S&P 500 a decade ago
▼ + stars: | 2023-04-21 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

During the Berkshire Hathaway annual meeting in 2020, billionaire and legendary investor Warren Buffett told the audience, "in my view, for most people, the best thing to do is own the S&P 500 index fund." The trick is to essentially buy all the big companies through the S&P 500 and to do it consistently and to do it in a very, very low-cost way," he told CNBC in 2017. The S&P 500 is a market index that tracks the stock performance of around 500 large-company U.S. stocks, including Amazon, Google parent company Alphabet, Meta and Visa. While the index is not immune to overall market downturns, long-term investors have historically earned a nearly 10% average annual return. Here's how much you'd have now if you'd invested $1,000 in the S&P 500 about one, five and 10 years ago:

☆ Taylor Swift sidestepped FTX lawsuit by asking a simple question—investors can use the same strategy to avoid potential scams
▼ + stars: | 2023-04-20 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

When it comes to making business decisions, Taylor Swift does her due diligence all too well. Before inking the deal, Swift asked FTX representatives a simple question: "Can you tell me that these are not unregistered securities?" Adam Moskowitz, one of the attorneys leading a class-action lawsuit against FTX's celebrity endorsers, said during an episode of "The Scoop" podcast. The lawsuit claims that FTX's high-profile promoters didn't properly research FTX before participating in the "offer and sale of unregistered securities in the form of yield-bearing accounts ('YBAs')." Swift was one of only a few celebrities to question the exchange, Moskowitz says on the podcast.

This is an installment of CNBC Make It's Millennial Money series, which profiles people across the globe and details how they earn, spend and save their money.

☆ The 10 best states to retire in—and Florida isn't No. 1
▼ + stars: | 2023-04-15 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

Move over, Florida, a new locale ranks as the best state to retire in. 1 state to retire in, Virginia has taken the top spot this year, according to personal finance website WalletHub's "2023's Best States to Retire" study. WalletHub evaluated all 50 U.S. states in three key categories: affordability, quality of life and access to health care. A state's overall retirement friendliness was based on its total score across all three categories. CHECK OUT: The 10 most expensive U.S. states to retire in — California didn’t make the list

☆ 75% of Americans don't trust crypto—and nearly half of traders say their investments have performed worse than expected
▼ + stars: | 2023-04-14 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Americans don't have a lot of faith in cryptocurrency. About 66% of U.S. adults under 50 who are familiar with crypto aren't confident in its reliability and safety, the survey found. What's more, American crypto traders feel their investments haven't performed as well as they had hoped, according to Pew's survey. About 45% of respondents say their investments have actually done worse than they expected. While 30% say their investments have performed as expected, only 15% say their investments have performed better than anticipated.

☆ The IRS may tax certain NFTs at a higher rate in the future — here’s what to know
▼ + stars: | 2023-04-07 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +3 min

Currently, the IRS treats NFTs and cryptocurrency as property for federal income tax purposes, according to the agency's website. However, net profits earned from selling a collectible are subject to a higher tax rate of 28%. So, if the IRS decides to treat NFTs as collectibles for tax purposes, sellers may be faced with a higher tax bill. The NFT market started the year off with a sizable surge in trading volume, according to NFT and DeFi tracking company DappRadar's latest report. That's up from trading volume of $1.9 billion on 18 million sales in the fourth quarter of 2022.

☆ Apple just launched its own buy now, pay later service—here’s how it compares with Affirm, Afterpay, Klarna and PayPal
▼ + stars: | 2023-03-30 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Apple is shaking up the buy now, pay later industry. On Tuesday, the tech giant launched Apple Pay Later, which allows Apple Pay users to split purchases into four interest-free payments paid over six weeks without an additional fee. Prior to making a purchase, Apple Pay Later users can apply for a loan between $50 and $1,000 and use it for in-app purchases or to buy products online through retailers that accept Apple Pay. After Apple Pay Later is initially set up, you'll also be able to apply for a loan right at checkout. Here's how Apple Pay Later compares.

☆ An NFT collector accidentally destroyed a $129,000 CryptoPunk: 'This is truly a devastating mistake for me'
▼ + stars: | 2023-03-30 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

With one wrong move, a non-fungible token (NFT) collector made a very costly mistake. On March 25, Brandon Riley tweeted that he accidentally destroyed his CryptoPunk #685, an NFT he had purchased weeks earlier for 77 ETH, which was worth about $129,437 at the time, according to Etherscan. While following a step-by-step guide on how to complete the transaction, Riley unintentionally sent his NFT to a burn address, he explained on Twitter. A burn address is a virtual wallet that doesn't have a private key, meaning no one can access it. These types of wallets are typically used to permanently destroy a certain number of tokens, thus creating scarcity and potentially causing the price of that token to rise, according to Coindesk.

☆ The 10 cheapest U.S. states to retire in—Florida barely makes the list
▼ + stars: | 2023-03-26 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

Rather, Alabama is the most affordable state to retire in, according to WalletHub's "2023 Best States to Retire." The analysis compared all 50 states across three key categories: health care, quality of life and affordability. In Hawaii, a $1 million retirement fund would be empty in a little over 10 years — the fastest of any state, according to GoBankingRates. Despite ranking ninth in affordability, Florida came in at No. A $1 million retirement reserve would last about 18 years there, per GoBankingRates.

☆ You may owe taxes on your crypto investments — here are 3 things to know
▼ + stars: | 2023-03-25 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +3 min

Since 2014, the IRS has treated virtual currency as property for federal income tax purposes, according to the agency's website. Similar to stocks, crypto is subject to IRS rules surrounding capital gains and losses. That means that if you earned a profit by selling your crypto for more than what you purchased it for, you'll owe capital gains tax on the difference. The IRS allows investors to use capital losses to offset taxable capital gains. Additionally, capital losses can be used to reduce your regular taxable income by up to $3,000 per year if your capital losses exceed your annual capital gains.

☆ 'It was agony': Why SVB's collapse is especially hard as a Black founder, says CEO
▼ + stars: | 2023-03-24 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Isa Watson, founder of voice-only social messaging app Squad, was on a plane when she got the news: Silicon Valley Bank had collapsed, and the Federal Deposit Insurance Corporation had taken over. Prior to the crash, Watson was a depositor at Silicon Valley Bank, using it as the primary bank for all of her business expenses, including cloud services, databases and products that her developers and designers use to collaborate. By Friday, March 10, regulators shuttered the bank and seized its deposits in what would become the largest U.S. bank failure since the 2008 financial crisis and the second-largest bank failure in U.S. history. At that point, Watson says she didn't know whether she'd be able to get her business's money back beyond the FDIC-insured $250,000. She put thousands of dollars' worth of business charges on her personal credit card to keep things running smoothly.

☆ Here's how much money you'd have if you invested $1,000 in Nike 10 years ago
▼ + stars: | 2023-03-23 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

The retailer reported revenue of $12.4 billion for its third fiscal quarter of 2023, beating analysts' predictions of $11.47 billion, according to Refinitiv consensus estimates. Additionally, the company reported that revenue rose 14% compared with the year-earlier period. This has included increasing its digital sales, building experiential stores and bolstering its loyalty program. Nike Direct, the company's direct-to-consumer brand, sales rose by 17% during the holiday quarter to $5.3 billion, according to its quarterly report. Nike Brand Digital sales were up 20%.

☆ This credit card debt payoff strategy may sound 'too good to be true,' but it could save you thousands
▼ + stars: | 2023-03-21 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +3 min

If you don't know what a credit card balance transfer is, you're not alone. Say you have $5,805 in credit card debt, the average amount Americans hold, according to TransUnion. If you want to qualify for one, you need a good to excellent credit score. Pitfalls of credit card balance transfers to avoidThere are a few downsides to balance transfers. Commit to paying off credit card debt

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