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Search resuls for: "Cheyenne DeVon"


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☆ America’s richest lost $660 billion collectively in 2022 — Elon Musk lost the most
  + stars: | 2022-12-27 | by ( Cheyenne Devon | ) www.cnbc.com   time to read: +3 min
Globally, the world's billionaires lost nearly $2 trillion, combined, in 2022, according to Forbes. Jeff BezosTitle: Founder and chair, AmazonEstimated 2022 losses: -$80 billionNet worth: $106.8 billion as of Dec. 272. Mark ZuckerbergTitle: Co-founder, Meta Platforms (Facebook's parent company)Estimated 2022 losses: -$78 billionNet worth: $42.7 billion as of Dec. 273. Larry PageTitle: Co-founder and board member, GoogleEstimated 2022 losses: -$40 billionNet worth: $76.8 billion as of Dec. 274. Phil KnightTitle: Chair, NikeEstimated 2022 losses: -$18.3 billionNet worth: $45.2 billion as of Dec. 275.
☆ Bitcoin lost over 60% of its value in 2022—here’s how much 6 other popular cryptocurrencies lost
  + stars: | 2022-12-23 | by ( Cheyenne Devon | ) www.cnbc.com   time to read: +2 min
In the latest blow to the crypto space, Core Scientific, one of the largest publicly traded crypto mining companies in the U.S, which primarily mints bitcoin, filed for bankruptcy on Dec. 21, citing falling crypto prices and rising energy costs. Just 8% of Americans have a positive view of cryptocurrency as of Nov. 2022, according to the CNBC All-America Economic Survey. Overall, the crypto market has lost a little over $2 trillion in 2022 and popular digital coins such as bitcoin have fallen far below their 2021 highs. Here's how much the value of seven popular cryptocurrencies changed in 2022 as of Dec. 22, per CNBC's calculations. For this reason, financial experts typically advise against investing more into crypto than you're willing to potentially lose.
☆ Self-made millionaire: You don’t have to give up lattes to get rich—do this instead
  + stars: | 2022-12-22 | by ( Cheyenne Devon | ) www.cnbc.com   time to read: +1 min
If that's your goal, you don't have to cut out little luxuries to get there, says Ramit Sethi, a self-made millionaire and author of the New York Times best-seller "I Will Teach You To Be Rich." "I'm not the guy who's gonna say, 'Hey, go to cut back on lattes. When it comes to building wealth, most people focus on the "$3 questions" like, "Should I skip buying a latte today?" Instead, you should focus on the "$30,000 questions," Sethi says. Instead of waiting and hoping to win the lottery, here are two things you can do now to start building wealth, according to Sethi.
☆ Credit card debt is getting more expensive—here are 3 steps to help pay it off quicker
  + stars: | 2022-12-21 | by ( Cheyenne Devon | ) www.cnbc.com   time to read: +1 min
It's getting more expensive to pay down credit card debt. "Credit card interest rates are as high as they've ever been," Matt Schulz, chief credit analyst at LendingTree, tells CNBC Make It. Since most credit cards have a variable interest rate, there's direct connection between the Fed's rate hikes and the interest rate you're charged on your credit card. A higher interest rate also means that your credit card debt will cost more to pay off, Schulz says. If you're feeling discouraged by credit card debt, here are three steps you can take now.
☆ The 10 states where $1 million in retirement savings will run out the fastest—Hawaii is No. 1
  + stars: | 2022-12-17 | by ( Cheyenne Devon | ) www.cnbc.com   time to read: +1 min
As it turns out, $1 million may not be enough to sustain you through retirement in certain states. But in a few states, $1 million in savings likely won't last that long, according to recent data from personal finance site GOBankingRates. In Hawaii, $1 million in retirement savings would only cover your living expenses for it about 10 years. It's not just the Aloha state where $1 million likely won't go as far as you hope. Here are the top 10 states where $1 million in retirement savings would run out the fastest.
☆ 60% of Americans see crypto investing as highly risky—but millennials are still its biggest fans
  + stars: | 2022-12-12 | by ( Cheyenne Devon | ) www.cnbc.com   time to read: +2 min
About 38% of Gen Zers (defined here as 25 and under) and 46% of millennials (defined here as age 26 to 41) say crypto investing is highly risky. Younger generations, however, appear to be more willing to take a chance on crypto investing than older generations. About 60% of Americans believe investing in digital currency is highly risky — up from 45% in 2021, according to the recent CNBC Make It: Your Money survey, conducted in partnership with Momentive . Crypto remains among the least popular investments: Only about 10% of Americans say they own any, according to the survey. However, with price of bitcoin, the largest cryptocurrency by market value, hovering substantially lower than its Nov. 2021 highs, as of Dec. 12, confidence in crypto investing appears to be waning among investors of all ages.
☆ The average American may spend nearly $1,500 on the holidays
  + stars: | 2022-12-08 | by ( Cheyenne Devon | ) www.cnbc.com   time to read: +1 min
Holiday retail sales are predicted to soar as high as $960 billion, according to the National Retail Federation. Americans are expected to spend about $1,455 each this season, according to Deloitte's latest study. That's around the same as last year's average of $1,463 per person. But in some cities, consumers could spend nearly three times as much. Here's a look at the 10 cities where Americans can afford to spend the most on holiday gifts:
☆ A $7,000 penny could be hiding in your pocket—here's how to identify it
  + stars: | 2022-12-06 | by ( Cheyenne Devon | ) www.cnbc.com   time to read: +1 min
That's if you have a 1983 Lincoln penny, says Blake Alma, whose "CoinHub" TikTok account has over 850,000 followers. In 2017, the rare penny was auctioned for $7,050, according to Professional Coin Grading Service, one of the most popular third-party coin grading and authentication companies. What to look forThis special penny lacks a mint mark, according to Alma's video. A mint mark is the marking on the face side of a coin that indicates where it was created. How to cash in on your rare coin
☆ People with perfect credit scores have 3 key traits in common, Experian reports
  + stars: | 2022-12-02 | by ( Cheyenne Devon | ) www.cnbc.com   time to read: +4 min
The few people who do manage to achieve perfect credit scores tend to share three key traits, according to Experian's latest analysis. People with perfect scores are typically older"You're not likely to see many 25-year-olds with a perfect credit score," Matt Schulz, chief credit analyst for LendingTree, tells CNBC Make It. People with 850 credit scores tend to carry about $2,588 in credit card debt, compared to the national average of $5,221. A near-perfect credit score is good enoughAlthough having a perfect 850 credit score may earn you bragging rights, it doesn't come with many additional benefits. "The reality is that you're not going to get anything with an 850 credit score than you wouldn't be able to get with an 830 credit score, or really even a 780 or 790 credit score," says Schulz.
☆ Mark Cuban: Former FTX CEO Sam Bankman-Fried should be ‘afraid of going to jail’
  + stars: | 2022-12-01 | by ( Cheyenne Devon | ) www.cnbc.com   time to read: +4 min
Billionaire Mark Cuban isn't giving up on crypto, despite the implosion of FTX, one of the world's largest cryptocurrency exchanges. However, Cuban says former FTX CEO Sam Bankman-Fried should be "afraid of gong to jail for a long time," in an interview with TMZ. Alameda research, the trading firm founded by Bankman-Fried, was borrowing billions of dollars from FTX users' accounts and trading those funds without their knowledge, CNBC reports. FTX and Bankman-Fried did not immediately respond to CNBC Make It's requests for comment. Don't miss: FTX’s Sam Bankman-Fried lost billions and the company filed for bankruptcy—it could signal the ‘demise’ of crypto, expert says
☆ New York is the first state to ban certain types of crypto mining—here's what to know
  + stars: | 2022-11-25 | by ( Cheyenne Devon | ) www.cnbc.com   time to read: +3 min
New York just became the first state to ban certain types of cryptocurrency mining in an effort to address environmental worries over the energy-intensive process. The new law temporarily freezes the issuance and renewal of air permits to companies that have transformed some of the state's oldest fossil fuel plants into cryptocurrency mining hubs. Mining crypto can produce harmful emissions by generating electricity through burning coal, natural gas and other fossil fuels. However, as companies flocked to the region, climate advocates began ringing the alarm over crypto mining's potential environmental harm. On a national level, U.S. crypto mining produced about 25 to 50 million metric tons of carbon pollution according to a White House report.
☆ Millennials have the most credit card debt in these 10 places — and California's not on the list
  + stars: | 2022-11-25 | by ( Cheyenne Devon | ) www.cnbc.com   time to read: +1 min
On average, millennials owe about $4,930 in credit card debt, according to the latest data from credit bureau Experian. But in some places, the average amount of credit card debt for millennials, who range in age from 26 to 41, is even higher. And despite California being one of the most expensive states to live in 2022, it didn't rank as one the top 10 places where millennials have a lot of credit card debt. Here's a look at the places where millennials carry the most credit card debt, on average, as of 2021. How to tackle credit card debt
☆ Mark Cuban still believes in crypto despite FTX collapse—here’s why
  + stars: | 2022-11-18 | by ( Cheyenne Devon | ) www.cnbc.com   time to read: +1 min
Although the implosion of one of the world's largest cryptocurrency exchanges has left many investors shaken, billionaire Mark Cuban still believes in crypto. Cuban has remained invested in crypto because he believes in smart contracts, one of the key underlying technologies that allow crypto transactions to be made, he explained on Twitter on Nov. 13. Essentially, a smart contract is a computer program that is embedded into a blockchain network. The "smart contract" within the machine is coded to dispense the selected item after the payment is made. Cuban believes smart contracts will have a significant impact in creating valuable applications that have utility for everyone.
☆ Dolly Parton receives $100 million award from Jeff Bezos: 'I will do my best to do good things with this money'
  + stars: | 2022-11-16 | by ( Cheyenne Devon | ) www.cnbc.com   time to read: +2 min
Bezos began giving out the award in 2021, and the prize includes $100 million to be distributed within 10 years. Bezos chose Parton this year because "she gives with her heart," he explained in a video posted to his Twitter account. Upon receiving the award, Parton thanked Bezos, saying "I will do my best to do good things with this money." Over the years, Parton has donated money to a number of charitable causes, including education, Covid research and animal preservation. Bezos is also entering the world of charitable giving and has pledged to donate the majority of his $122 billion net worth.
☆ Here's how much money you’d have if you invested $1,000 in Walmart 10 years ago
  + stars: | 2022-11-15 | by ( Cheyenne Devon | ) www.cnbc.com   time to read: +1 min
About 10 days ahead of Black Friday — one of the most anticipated shopping days for merchandisers — big-box retailer Walmart reported better-than-expected revenue and earnings. And good news for consumers: The company plans to set prices for Thanksgiving staples at the same level as 2021. For the fiscal third quarter, Walmart generated more than $152 billion in total revenue, eclipsing the nearly $148 billion Wall Street analysts expected. Walmart saw growth in its grocery sales this quarter as it rolled out various deals to draw in budget-conscious consumers. Back in the second quarter, Walmart's earnings also surpassed Wall Street analysts' expectations as inflation-pinched shoppers sought out affordable necessities like groceries over discretionary merchandise such as clothing.
☆ FTX's Sam Bankman-Fried lost billions and the company filed for bankruptcy—it could signal the 'demise' of crypto, expert says
  + stars: | 2022-11-11 | by ( Cheyenne Devon | ) www.cnbc.com   time to read: +2 min
The company filed for bankruptcy on Nov. 11 after competing offshore crypto exchange, Binance, backed out of a deal to acquire it and users withdrew around $6 billion in funds. FTX's Sam Bankman-Fried, who often goes by SBF, stepped down as CEO on Friday. He saw his estimated net worth drop by billions virtually overnight as his cryptocurrency exchange platform teeters on the brink of collapse. Zhao was paid about $2.1 billion worth of FTT, the native crypto token that gives users access to the FTX trading platform. What happens to crypto traders on the FTX platform if it collapses?
☆ This 32-year-old was incarcerated as a teen—now he brings in over $150,000 a year: 'Your past does not define your future'
  + stars: | 2022-11-11 | by ( Cheyenne Devon | ) www.cnbc.com   time to read: +9 min
John Luna | CNBC Make ItBut the road to earning six figures wasn't a smooth one for Mckenzie. John Luna | CNBC Make ItMckenzie also earned his GED during his time in prison and had dreams of becoming an educator. When he was incarcerated, Mckenzie found peace through cleaning. John Luna | CNBC Make ItStable housing is also key to helping formerly incarcerated people reenter society, Mckenzie says. John Luna | CNBC Make ItMckenzie also prefers to use cash to pay for most things, which is why he makes so many ATM withdrawals.
☆ Boston is now America's second most expensive city for renters
  + stars: | 2022-11-10 | by ( Cheyenne Devon | ) www.cnbc.com   time to read: +2 min
On top of that, new rentals that do become available skew toward the luxury market, pushing median rent prices even higher. One reason Boston is experiencing a spike in rental prices: there just aren't many homes available, Zumper reports. The median price for a one-bedroom rental in Boston jumped by nearly 6% in October to $3,060 per month. Move over San Francisco — Boston is now the second most expensive city for a one-bedroom rental, behind only New York City, according to Zumper's latest national rent report. And even though New York City still ranks as the most expensive city to rent a one-bedroom, median rent prices have fallen about 2% compared with September.
☆ Mark Cuban: Don't use credit cards—if you do, 'you don't want to be rich'
  + stars: | 2022-11-04 | by ( Cheyenne Devon | ) www.cnbc.com   time to read: +2 min
Billionaire entrepreneur Mark Cuban suggests you pay off all your credit cards — and then burn them. "If you use credit cards, you don't want to be rich," Cuban said during an interview with personal finance radio personality Dave Ramsey on "The Ramsey Show." Cuban's biggest issue with credit cards: high interest rates, he told Ramsey. What Cuban suggests instead of credit cardsTake out a personal loan as an alternative to using a credit card, Cuban proposes. Similar to credit cards, your credit score could take a hit if you miss a payment.
☆ You can retire abroad for less than $2,000 a month in Tokyo, Berlin and these other 8 cities
  + stars: | 2022-11-02 | by ( Cheyenne Devon | ) www.cnbc.com   time to read: +1 min
About 15% of American workers want to retire abroad, according to Dutch life insurance company Aegon's latest "Retirement Readiness Survey." Some retirees are already doing it: As of 2021, around 444,000 retired workers collected Social Security benefits while living in a foreign country, according to the Social Security Administration's latest data. "The U.S. dollar is relatively strong compared to many other currencies, which allows U.S. retirees in those countries to stretch their money further," he adds. Although leaving the U.S. doesn't guarantee a lower cost of living, Little warns, there are several international cities where you can live on just a few thousand dollars per month. For American expats looking to stretch their retirement dollars, here are 10 cities across the globe where the average cost of living is less than $2,000 per month.
☆ Nearly 50% of Gen Z and millennials want crypto investments in their 401(k)s—here's why it's a risky move
  + stars: | 2022-11-01 | by ( Cheyenne Devon | ) www.cnbc.com   time to read: +3 min
If you're dreaming of combining your cryptocurrency investments with your retirement savings, you're not alone. If an employer offers this option, employees can invest up to 20% of their 401(k)s in bitcoin. Adding cryptocurrency to your retirement portfolio may drag down its overall performance, McBride adds. This helps to reduce the volatility of your portfolio since you're not overly invested in one specific type of asset. "They recognize the value in speculative assets but also recognize the value of guaranteed income as they approach retirement," says Nathan Voris, director of investments, insights and consultant services at Schwab retirement plan services.
☆ From Chipotle to Wendy’s, here are 7 places to score Halloween freebies and discounts
  + stars: | 2022-10-29 | by ( Cheyenne Devon | ) www.cnbc.com   time to read: 1 min
Americans are expected to spend a record $10.6 billion on Halloween this year, surpassing last year's record of $10.1 billion, according to the National Retail Federation's annual Halloween Consumer survey. On average, people are expected to spend about $100.45 each on Halloween staples, such as candy, costumes and decorations, the agency found. Halloween celebration rates are predicted to return to pre-pandemic levels also, according to the agency. And as holiday revelers seek out treats, many stores and restaurants are offering freebies and discounts through Oct. 31. Here are seven places to check out:
☆ Many young people prefer ‘buy now, pay later’ to credit cards—here’s why
  + stars: | 2022-10-27 | by ( Cheyenne Devon | ) www.cnbc.com   time to read: +2 min
From Klarna to Affirm to Afterpay, various "buy now, pay later" services are popping up as a popular alternative to traditional credit cards, especially among younger consumers. One reason young people in particular are drawn to buy now, pay later payment plans is because many watched their parents struggle with credit card debt amid the 2008 economic recession, says Christine Roberts, head of Citizens Pay, a buy now, pay later option offered by Citizens Bank. When it comes to expensive purchases, "this generation very much wants to understand the time frame of payments," Roberts says. Credit cards, on the other hand, typically calculate a minimum monthly payment based on the overall card balance rather than individual purchases. However, as with credit cards, buy now, pay later users may risk accumulating debt without realizing it if they're not careful.
☆ California isn’t the No. 1 state for cryptocurrency enthusiasts—but it still ranks in the top 7
  + stars: | 2022-10-21 | by ( Cheyenne Devon | ) www.cnbc.com   time to read: +2 min
Cryptocurrency enthusiasts may want to consider moving to Nevada: It ranks as the No. Local governments aren't allowed to tax blockchain technology, the underlying tech that cryptocurrency relies on to operate, for example. Although California is home to Silicon Valley and known as a hub of tech innovation, it ranked third in SmartAsset's study. Californians search for crypto-related keywords on Google more than any other state, but government regulation of cryptocurrency use remains unclear in the state, which dragged down its ranking. Here are the top seven states for cryptocurrency enthusiasts, according to SmartAsset:1.
☆ Americans think you need $1.7 million to retire comfortably—here's how much you need to save each month to get there by 65
  + stars: | 2022-10-20 | by ( Cheyenne Devon | ) www.cnbc.com   time to read: +1 min
On average, American workers think they'll need $1.7 million saved for retirement, but a little less than half believe they're likely to meet their savings goals, according to a recent Charles Schwab study. That's understandable: Financial planners typically recommend saving between 10% and 15% of your gross annual salary for retirement, which is no small feat. Workers with employer-sponsored retirement plans only contribute around 7% of their income toward their retirement fund on average, according to Vanguard's "How America Saves 2022" report. With this in mind, CNBC calculated how much you'd need to put away to save $1.7 million by 65, as well as how much you'd need to earn to accomplish this without saving more than 15% of your income. Here's how much you need to put away each month to save $1.7 million by 65.
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