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☆ The 10 most expensive U.S. states to retire in — California didn't make the list
▼ + stars: | 2023-03-19 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

In addition to being home to the most expensive city to live in worldwide, New York is the least affordable U.S. state to retire in. That's according to WalletHub's "2023 Best States to Retire," which compared all 50 states across three main categories: affordability, quality of life and health care. The ranking looked at adjusted cost of living, general tax-friendliness and annual cost of in-home services, as well as other factors. Don't expect to find affordability across the Hudson River either: New Jersey ranks as the second most expensive state to retire in. Here are the top 10 most expensive states to retire in, according to WalletHub:New York New Jersey Vermont Massachusetts Maryland Washington Connecticut Maine Illinois OregonRetirement will look different to everyone, and there are several factors to consider.

☆ These 10 cities have the most Tax Day procrastinators—and 3 are in Florida
▼ + stars: | 2023-03-14 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Nearly a third of Americans procrastinate filing their taxes, according to a recent survey from small business research site Chamber of Commerce. Atlanta, Georgia, is home to the most Tax Day procrastinators, according to the survey. Orlando, Salt Lake City, Miami and Fort Lauderdale, Florida, round out the top five cities. The organization then analyzed the volume of Google searches in each city for terms related to filing taxes late such as "file tax extension," "penalty for late taxes" and "can you file your taxes late?" Here are the top 10 cities that procrastinate the most on tax filing.

☆ Scammers are creating fake “ChatGPT” and “Bing” crypto tokens—here’s how to protect yourself
▼ + stars: | 2023-03-10 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

Scammers are trying to cash in on the hype surrounding popular artificial intelligence chatbots including OpenAI's ChatGPT and Microsoft's Bing AI. A search on DEXTools, an interactive crypto trading platform that tracks prices, reveals about 287 tokens that mention "ChatGPT" in their name. They then promote the coin and convince investors to pour money into it in order to drive the price higher. The firm has identified at least one of those digital coins as having been created by a user notorious for "pump and dump" crypto schemes. Scam crypto tokens are commonly deployed on "permissionless blockchains" also known as public blockchains, says Chen Arad, chief operating officer at Solidus Labs, a cryptocurrency risk monitoring and market surveillance company.

☆ Millennials may be using credit cards as a “de facto emergency fund"—here's why they shouldn't
▼ + stars: | 2023-03-06 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

Millennials are the most likely generation to have more credit card debt than emergency savings, according to Bankrate's "2023 Annual Emergency Savings Report." This may mean that both of these groups are overly relying on credit cards, says Melinda Opperman, chief external affairs officer, at Credit.org. "When whole generations have more debt than emergency savings, that suggests they've been using credit cards as their emergency fund," she tells CNBC Make It. Many millennials and Gen Xers see their credit card as a "de facto emergency fund," Matt Schulz, chief credit analyst for LendingTree, tells CNBC Make It. As of February, the average credit card interest rate is 23.55% according to LendingTree's latest analysis.

☆ Here's how much money you'd have if you invested $1,000 in Costco 10 years ago
▼ + stars: | 2023-03-04 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

From its $4.99 rotisserie chickens to its $1.50 hot dog combos, Costco has been a longtime favorite of price-conscious shoppers. Amid rising food prices, inflation-pinched consumers are looking to make their money stretch further, much to Costco's advantage. The retailer reported revenue of $55.27 billion for its fiscal second-quarter of 2023, missing analysts' prediction of $55.54 billion, according to Refinitiv consensus estimates. While the retailer isn't planning to raise its annual membership fees for now, shoppers may need to prepare to pay a bit more for membership in the future. It's been nearly six years since Costco increased its membership fees.

☆ As NFT trading surges, a 'golden key' prize from Yuga Labs' limited-time game sold for $1.6 million
▼ + stars: | 2023-03-03 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

A non-fungible token (NFT) collector just dropped more than $1 million on a virtual "golden key." Adam Weitsman, CEO of Upstate Shredding – Weitsman Recycling, purchased Yuga Labs' "Golden Key Sewer Pass" for 1,000 ETH, which was valued at about $1.6 million at the time of sale on Feb. 27, 2023. Jackson won the one-of-one, digital "golden key" after receiving the highest score on "Dookey Dash," Yuga Labs' web-based NFT game. Jackson also said that royalties would be paid in full to Yuga Labs. This seven-figure sale comes amid a surge in NFT trading and sales in early 2023, according to DappRadar's latest industry report.

☆ Billionaire Warren Buffett still lives in the same home he bought for $31,500 more than 60 years ago
▼ + stars: | 2023-03-03 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Billionaire Warren Buffett is famously frugal. The Berkshire Hathaway CEO still resides in the five-bedroom home in central Omaha, Nebraska, he purchased for $31,500 in 1958, which is about $329,505 in today's dollars. "He's authentic," says CNBC's Becky Quick, who has a longstanding relationship with Buffett and interviews him frequently. Located in a quiet neighborhood of Omaha, Nebraska lies the home of billionaire Warren Buffett. Orjan F. Ellingvag | Getty ImagesBuffett doesn't plan on trading his Omaha home for a more luxurious one any time soon.

☆ Portugal, Spain and 8 other countries where a bottle of wine costs less than $7
▼ + stars: | 2023-02-26 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

If you want to buy the cheapest bottle of wine without sacrificing quality, look no further than Portugal. The European country is the least expensive locale to buy a bottle of quality wine. On average, a standard 750ml bottle of wine costs about £3.49, or about $4.17, in Portugal, according to Compare My Jet's "World's Wine Habit Index." For comparison, the average price for a bottle of wine in the United States is more than triple what you would pay in Portugal. Here are the 10 least expensive countries to buy a bottle of wine.

☆ Michael B. Jordan says 'life' taught him how to manage money—he wants better for the next generation
▼ + stars: | 2023-02-23 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Michael B. Jordan says the biggest lessons he's learned about money management came from "life." However, he wonders where he would be if he had been taught more about money when he was younger. That's one reason he's aiming to help Black students and student athletes gain access to financial literacy education early. The actor, director and producer partnered with Invesco QQQ to create the Invesco QQQ Legacy Classic, a men's college basketball showcase featuring Historically Black College and University (HBCU) student athletes, broadcast nationally on TNT. "So having another system in place to help them start thinking differently about their money is important."

☆ Here's how much money you'd have if you invested $1,000 in Walmart 10 years ago
▼ + stars: | 2023-02-22 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

The company also reported earnings per share of $1.71 compared with the $1.51 analysts expected. Here's how much money you'd have as of Feb. 21, 2023 if you had invested $1,000 into the company one, five and 10 years ago. If you had invested $1,000 into Walmart a year ago, you'd have about $1,084 as of Feb. 21, according to CNBC's calculations. If you had invested $1,000 into Walmart five years ago, your investment would have increased to $1,728 as of Feb. 21, according to CNBC's calculations. And if you had put $1,000 into Walmart a decade to grow, it would have more than doubled and risen to $2,390 as of Feb. 21, according to CNBC's calculations.

☆ Billionaire Charlie Munger: Cryptocurrency is 'crazy, stupid gambling,' and 'people who oppose my position are idiots'
▼ + stars: | 2023-02-16 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +3 min

It's just ridiculous that anybody would buy this stuff," Munger, 99, told CNBC's Becky Quick during a livestream of the event, adding: "It's totally absolutely crazy, stupid gambling." "I think the people who oppose my position are idiots, so I don't think there is a rational argument against my position," he said. Munger's comments come amid an avalanche of problems for crypto investors over the past year. He's previously urged the U.S. government to ban cryptocurrencies, and may partially get his wish as the crypto industry faces rising regulatory crackdowns. "In other words, an adviser may custody crypto assets at a bank, but banks are cautioned by their regulators not to custody crypto assets," Uyeda wrote.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow to pay reparations to African Americans without spiking inflation: Darity, MullenCNBC's Cheyenne DeVon talks to William Darity and Kirsten Mullen, co-authors of "From Here to Equality: Reparations for Black Americans in the Twenty-First Century", about the way that reparations to Black Americans could help close the racial wealth gap in the United States. Darity and Mullen argue that the federal government should be responsible for paying reparations to Black Americans. However, they warn that reparations that are not rolled out carefully could cause inflation.

☆ This loan calculator shows how quickly you can get out of debt
▼ + stars: | 2023-02-07 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Americans' credit card debt spiked last year as consumers tried to stay afloat amid high inflation and rising interest rates. Total credit card debt in the U.S. surged to a record $930 billion at the end of 2022, according to TransUnion's latest quarterly report. Nearly half of consumers say that inflation and rising costs caused their credit card debt to grow, according to Bankrate's latest poll. For loans with a set time horizon, such as a personal loan or car loan, enter the full amount of the loan into the calculator, as well as the term length and interest rate. For credit card debt, enter your credit card balance and interest rate.

☆ Crypto investors lost nearly $4 billion to hackers in 2022
▼ + stars: | 2023-02-04 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

Cryptocurrency hackers stole $3.8 billion in 2022, according to the blockchain analytics firm's report — up from $3.3 billion in 2021 . Take smart contracts, for example. These digital contracts are the key underlying technologies that allow crypto transactions to be made. Within DeFi, smart contracts are publicly viewable sets of instructions that allow users to borrow, lend or make transactions without an intermediary. Once a user meets the smart contract's terms and conditions, the transaction happens automatically, similar to a vending machine.

☆ Here’s how much money you’d have if you invested $1,000 into McDonald's 10 years ago
▼ + stars: | 2023-02-01 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

For the fiscal fourth quarter, McDonald's reported earnings per share of $2.59 on $5.93 billion in revenue. Here's how much money you'd have as of Feb. 1, 2023 if you had invested $1,000 into the company one, five and 10 years ago. If you had invested $1,000 into McDonald's a year ago, you'd have about $1,066 as of Feb. 1, according to CNBC's calculations. If you had invested $1,000 into McDonald's five years ago, you'd see a slightly higher return on your investment and have about $1,695 as of Feb. 1, according to CNBC's calculations. And if you had given your $1,000 investment into McDonald's a decade to grow, it would be worth about $3,270 as of Feb. 1, according to CNBC's calculations.

☆ This loophole could help crypto investors lower their tax bill—but don’t abuse it, says CPA
▼ + stars: | 2023-02-01 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

To understand tax-loss harvesting, you first need to know how the Internal Revenue Service handles crypto gains and losses. If capital losses exceed annual capital gains, investors can use the remainder to offset up to $3,000 from their regular income at tax time. Capital gains are typically taxed at a lower rate than ordinary income, which includes what you earn at your job or from a side gig. Keep in mind that capital gains can only be offset by the same type of loss. Tax-loss harvesting is a strategy that uses these rules to your advantage — and crypto holders can utilize it in a way other investors can't.

To help close the racial wealth gap, the U.S. government should pay $14 trillion in reparations to Black Americans, according to William A. Darity and A. Kirsten Mullen, authors of "From Here to Equality: Reparations for Black Americans in the Twenty-First Century." Mullen said "the federal government was party" to both the suppression of the Black vote and in some cases the destruction of Black people's property. She added that "the federal government is also the only entity that has the capacity to pay the debt." Darity and Mullen told CNBC that the cost of reparations would not need to be passed on to taxpayers. Watch the video to learn more about how reparations to Black Americans could help close the racial wealth gap.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy the U.S. government is responsible for reparations: William Darity, Kirsten MullenWilliam A. Darity and A. Kirsten Mullen, authors of "From Here to Equality: Reparations for Black Americans in the Twenty-First Century," say that the federal government should be financially responsible for paying $14 trillion of reparations to Black Americans. They tell CNBC's Cheyenne DeVon whether taxpayers will foot the bill and if reparations could cause inflation.

☆ The ‘15/3' credit card hack probably won’t improve your credit score—here’s what to do instead
▼ + stars: | 2023-01-26 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

If your goal is to improve your credit score in 2023, don't count on the "15/3" credit card hack to help. Numerous videos with thousands of likes on various social media platforms claim that you can quickly improve your credit score by splitting your credit card payment into two installments. Focus on your credit reporting dateRather than focusing on 15 and three days before your payment is due, there's another date worth keeping in mind: your credit reporting date. Credit card billing cycles are typically 29 to 31 days, and the last day is your statement closing date. You can call your credit card issuer to find out when they typically report to the credit bureaus.

☆ 'Your Rich BFF' shares 3 ways to be smarter and more successful with money in 2023
▼ + stars: | 2023-01-24 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

Follow the 50/30/20 methodThe 50/30/20 method is one of Tu's favorite ways to manage her money because it can make budgeting really easy. Lastly, put the final 20% of your money toward savings, investments and paying down additional debt. Higher interest rates will cost you more in the long run, so it's smart to pay those debts off first. Next, you can turn your attention toward paying down debts with lower interest rates. Since low-interest debt tends to be less costly, you can also start putting money toward investments like your 401(k).

☆ A crypto exchange allegedly processed over $700 million worth of illicit funds before the Department of Justice shut it down
▼ + stars: | 2023-01-20 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

The U.S. Department of Justice and French authorities shut down an alleged money laundering destination for crypto criminals on Thursday. The Justice Department says Bitzlato promoted itself to criminals as a "no-questions-asked cryptocurrency exchange," which resulted in reaping hundreds of millions of dollars' worth of deposits. Bitzlato's largest trading partner in cryptocurrency transactions was Hydra Market, an anonymous, online marketplace for illegal goods such as narcotics, stolen financial information and money laundering services, according to the Justice Department. Hydra Market users exchanged more than $700 million in cryptocurrency with Bitzlato, either directly or through intermediaries, until Hydra Market was shuttered by U.S. and German law enforcement in April 2022, the DOJ reports. Crypto criminals relied heavily on Bitzlato for money laundering services, according to Chainalysis.

☆ Gen Z workers want to retire before 60—here’s how much they need to save each month to get to $2 million
▼ + stars: | 2023-01-18 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Gen Zers, defined as Americans between 18 and 25, aim to retire by 59 on average, according to Northwestern Mutual's 2022 Planning and Progress study. Millennials, defined as those between 26 and 41, intend to retire by 61 on average. On average, American workers think they'll need $1.7 million to retire comfortably, according to Charles Schwab's most recent study, but that varies by generation. Gen Zers and millennials believe they'll need to put away $1.4 million and $1.8 million, respectively. However, a shorter time in the workforce means you'll need to put more money into your retirement savings to meet your financial goals.

☆ Mark Cuban predicts this will be the 'next possible implosion' in crypto—here's how to avoid it
▼ + stars: | 2023-01-12 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Billionaire Mark Cuban believes an age-old market manipulation tactic could be the next thing to rock the cryptocurrency industry. "I think the next possible implosion is the discovery and removal of wash trades on central exchanges," the longtime crypto investor tells TheStreet. A wash trade is when a trader buys and sells the same financial asset multiple times in order to generate fake volume and make it appear as if there is a high demand for the asset. This artificially inflated demand can mislead other traders into investing real money into the asset. Although wash trading has been illegal within traditional U.S. financial markets for decades, it's likely difficult to crack down on the activity within the crypto space.

☆ $1 million in retirement savings lasts longest in these 10 states—almost half are in the southeast
▼ + stars: | 2022-12-29 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Retirement can last 25 years or more after you stop working, according to Fidelity Investments. But in some states with high costs of living, like Hawaii, $1 million in retirement savings would only last about 10 years. However, in less expensive states, $1 million would be enough to cover your living expenses for the majority of your retirement years. If you plan on retiring in the United States, you can expect your retirement savings to stretch the furthest in Mississippi, according to GoBankingRates' latest analysis. Here are the top 10 states where $1 million in retirement savings would last the longest.

☆ Mark Cuban wants to buy more bitcoin, says gold investors are 'dumb'
▼ + stars: | 2022-12-28 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Billionaire Mark Cuban is doubling down on bitcoin and says he even prefers investing in the digital asset over gold. However, Cuban called gold investors "dumb as f---" during his interview with Maher. However, there is a key difference between how gold and bitcoin derive value. On the other hand, bitcoin and other cryptocurrencies are a relatively new form of payment. Bitcoin prices are currently trending far below their January prices while gold has only diminished by a little over 1% year to date as of Dec. 27.

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