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☆ What Kamala Harris' latest financial disclosure reveals about her investment portfolio
▼ + stars: | 2024-07-26 | by ( Lorie Konish | ) www.cnbc.com time to read: +7 min

Harris For President Campaign | Via ReutersFinancial experts describe Vice President Kamala Harris' investment style in one word: Boring. In her role as vice president, Harris filed a public financial disclosure report for 2023, which was signed in May. Carolyn McClanahan, a certified financial planner and founder of Life Planning Partners in Jacksonville, Florida, who also reviewed Harris' financial disclosure, said it makes her "heart sing" to see Harris investing in low-cost passive investment strategies. Since 2020, mortgage rates have increased substantially, which means the couple missed their chance to lock in a low rate for a longer term. McClanahan said she urged everyone to lock in the record low mortgage rates that were available back then.

Persons: Kamala Harris, Barack Obama, Michelle Obama, Harris, Dustin Thackeray, She's, Thackeray, Carolyn McClanahan, McClanahan, Vance, —, Second, Douglas Emhoff, Barry Glassman, Glassman, Cash, Emhoff, it's, Ted Jenkin, Atlanta . Jenkin Organizations: Democratic, Reuters, Crewe Advisors, Planning Partners, CNBC, Finance, GOP, Wealth, CNBC's, Council Locations: U.S, Salt Lake City, Jacksonville , Florida, California, Atlanta .

☆ Finance jobs are more competitive than ever, so some college students are sitting for the industry's most grueling exam before they even graduate
▼ + stars: | 2024-07-15 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

About one in five people who start the CFA process are students, Rob Langrick, chief product advocate at the CFA Institute, told Business Insider. The increase in college students starting the CFA process comes as fewer people overall are taking the exams. CFA Level I sign-ups first dropped in late 2020, given pandemic-induced cancellations and exam deferments. Related storiesIn 2018 and 2019, an average of about 162,000 people took the Level I exam each year. He thought his economics degree didn't cover enough applied finance for the kinds of jobs he wanted to do.

Persons: —, Rob Langrick, Langrick, Eric Wye, Wye, hasn't, shubhangigoel@insider.com Organizations: Service, Chartered Financial, Institute, CFA, Business, CFA Institute, National University of Singapore, Singapore Management University Locations: Wye

☆ Your guide to Wall Street analyst research and how to use it like the investing pros
▼ + stars: | 2024-05-30 | by ( Scott Schnipper | ) www.cnbc.com time to read: +10 min

Wall Street sell-side research is a key part of the financial markets, written by analysts working for brokerage firms, investment banks and other institutions. Research reports An analyst's published research report might include a company overview with basic information about a company's business, products and position in the relevant market. This is especially true when an analyst is first initiating research coverage into a particular company or industry. Analyst recommendations affect stock prices every day , especially if an analyst or her firm is highly reputable or believed to hold expertise in a particular area. Contrarian indicators Analyst recommendations can occasionally act as a contrarian indicator , too.

Persons: Merrill Lynch, Henry Blodgett, Merrill Organizations: Research, Wall, Sarbanes, Oxley, Global, Securities and Exchange Commission, National Association of Securities Dealers, CNBC Pro Locations: Sarbanes

☆ ‘Utterly Demoralizing’: How College Grads Are Struggling to Land Jobs - The New York Times
▼ + stars: | 2024-05-08 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

When I asked new college graduates last month to tell me about their job searches, I got back a ton of heartache. For some, a sense that college was a waste of time and money. John York wrote that he was about to earn a master’s degree in mathematics from New York University. Utterly demoralizing,” wrote Beth Donnelly, who is graduating this month with a major in linguistics and minors in German and teaching English as a second language. “I’ve been searching since early August for full-time, part-time or internship positions after I graduate.

Persons: John York, “, ”, he’s, ” Mauricio Naranjo, Beth Donnelly, I’ve Organizations: New York University, Financial Analysts

Customers look at appliances for sale at a Best Buy store in Miami, Florida, Oct. 8, 2021. However, the machine broke for the same reason again a few months later, and then again shortly after that. After the mechanic's third visit, Rathner said he told her, "You need to stop calling me and just buy a new dryer. watch nowHomeowners spend about 34% more on appliances than they did 15 years ago, "above and beyond inflation," Tomalak said. "Homeowners are purchasing appliances with more bells and whistles, but which become obsolete sooner and have more aspects to repair versus appliances years ago," he said.

Persons: Joe Raedle, Sara Rathner didn't, Rathner, Todd Tomalak, Tomalak, Brian Laung Aoaeh, Aoaeh Organizations: Getty, Finance, Zonda Media, Refashiond Ventures Locations: Miami , Florida, Richmond , Virginia, New York

☆ How much money Americans have in their savings accounts—nearly half have less than $500
▼ + stars: | 2024-01-24 | by ( Mike Winters | ) www.cnbc.com time to read: +3 min

Nearly half of Americans have $500 or less in their savings accounts, an amount that leaves them vulnerable to unexpected expenses, according to a GOBankingRates survey of 1,063 U.S. adults conducted in November 2023. About 29% of respondents have between $501 and $5,000 in their savings accounts, while the remaining 21% of Americans have $5,001 or more. This leaves them vulnerable to unexpected expenses, underscoring the importance of having an emergency fund, if they're able to build one. Why an emergency fund is importantFinancial planners commonly recommend keeping a reserve of cash, known as an emergency fund, on hand to cover unexpected expenses. To get started, you'll need to find room in your budget for monthly emergency savings contributions, which can be easier said than done.

Persons: Alex Lozano, Christopher Lazzaro, Lazzaro, Lozano, It's Organizations: Lozano Group Wealth Management

☆ Despite strong economy, Americans are spending less: 'I feel like I'm always holding my breath'
▼ + stars: | 2023-11-22 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +3 min

Still, consumers don't feel like we're in a booming economy. "I feel like I'm always holding my breath a little bit waiting to see what's going to happen," Olivia Thomas, an education professional in New Jersey, tells CNBC Make It. As people like Thomas take a look at their personal situations and the broader economy, some are making adjustments. Consumer spending has begun to taper off, according to data from the new CNBC and National Retail Federation retail monitor. That, along with a number of increasingly precarious geopolitical situations and continued tension within domestic politics, has consumers wary of the economy.

Persons: Olivia Thomas, Thomas, Janet Yellen, CNBC's, Peter Hughes, haven't, Hughes Organizations: CNBC, National Retail Federation, Evolve Locations: New Jersey, Plenty, Federal, New York, California

☆ Wall Street can breathe easy. ChatGPT isn't smart enough to be a financial analyst yet.
▼ + stars: | 2023-11-02 | by ( Aruni Soni | ) www.businessinsider.com time to read: +4 min

ChatGPT wouldn't be able to pass all levels of the exam required to get become a CFA. GPT-4 did better than ChatGPT and could pass the first two levels of the exam with enough prompting. According to a study, ChatGPT couldn't pass the chartered financial analyst exam—a benchmark qualification for many finance professionals across Wall Street. According to the CFA institute, only 38% of test-takers who took the level one exam in February 2023 passed. "GPT-4 would have a decent chance of passing the CFA Level I and Level II if prompted with [few shot] and/or [chain of thought scenarios]," the researchers wrote.

Persons: wouldn't, ChatGPT, —, couldn't, OpenAI —, it's Organizations: CFA, JPMorgan, Service, Wall

High-yield savings accounts have seen huge APYs in recent times, but those rates may not last forever. Earn top savings rates and manage it all with a single secure login. But when should you ease up on your savings accounts and consider investing your money instead? That can make investing much more attractive than a savings account — even in a high-yield savings account — if you have a longer time horizon. Alternatives to HYSAsYou don't have to decide between a savings account and investing in a retirement savings account — like a 401(k) or an IRA — or a taxable brokerage.

Persons: —, Banks, Laura Mattia, Steve Oniya, Oniya, Tony Corsino, Mattia, you'd Organizations: Treasury, Service, Federal Reserve, Advisors, OM Investments, Zen Financial

☆ Young people say this is the No. 1 factor in building wealth—but there's more to it
▼ + stars: | 2023-08-25 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +3 min

While earning a high salary can play an important role in growing your wealth, it won't make you wealthy on its own. The most important factor in building wealth: your salary, according to 67% of both millennials and Gen Zers, a recent survey from financial services company Empower found. The younger generations chose salary above other wealth-building factors such as being debt-free, job stability and living below your means. There are a number of ways you can build wealth , from founding a successful start-up to receiving a hefty inheritance. But investing in low-cost index funds is a time-tested, self-made millionaire-approved method to build wealth on virtually any income.

Persons: Gen Zers, Scot Johnson, Johnson, Warren Buffett Organizations: Carpenter Inc, CNBC Locations: Adell, Harriman

☆ Harvard-trained financial expert: How to let go of 'self-sabotaging beliefs and habits around money'
▼ + stars: | 2023-08-09 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +5 min

Thakor, a certified financial planner and a chartered financial analyst who has an MBA from Harvard, wants to help people shed work addiction and "self-sabotaging beliefs and habits around money, careers [and] accomplishments." And you feel almost compelled in a subliminal, toxic way to keep chasing after these things. ATS: Can you explain the Buddhist concept of the hungry ghosts and how it's connected to the feeling of "never enough?" My argument is that it's because people are experiencing the symptoms of a society that's been built on this false belief that the answer to our collective angst is pursuing more money, work and more prestige. Those things turn us into hungry ghosts because they have no finish line — you can never get enough of them.

Persons: Manisha Thakor, Ana Teresa Solá, it's, they're, — Organizations: Getty, World Health Organization, International Labour Organization, Harvard, Finance, Workers, Bank of America, ATS Locations: overworking, U.S

☆ 12 of the highest-paying jobs in finance
▼ + stars: | 2023-06-29 | by ( ) www.businessinsider.com time to read: +13 min

Getty Images/Peter DazeleyThe finance industry has many high-paying jobs such as chief financial officer, and investment banker. The finance industry is brimming with high-paying, excellent jobs, whether you want to become an accountant, financial analyst or something else entirely. Financial risk managerFinancial risk managers have very important jobs: they help companies and investors understand different levels of financial risk. As high-earning financial professionals, their financial modeling and financial reports are invaluable to the finance sector at large. Most finance professionals in this position have years of experience.

Persons: Peter Dazeley, CPAs Organizations: Getty, Morning, U.S . Bureau of Labor Statistics . Investment, Investment, Financial

☆ A CFA says you could cost yourself six figures by investing in the wrong type of retirement fund — and explains how to maximize your returns
▼ + stars: | 2023-05-02 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

While most investors focus on finding the right asset allocation for their retirement fund, Baker believes that asset location, or the type of fund you're using, is just as important. Fund fees can eat into your retirement savingsAnother key detail many investors miss is the fees associated with certain retirement funds. "Unless you want to read a 60-page prospectus, it's very difficult to find out what all of these mutual funds cost," Baker said. While you're still too young to adjust how you're allocating to your retirement fund, you may need to consider where you're allocating. If you needed to withdraw your income from your retirement fund last year, you took a loss on those withdrawals, Baker noted.

☆ 6 signs you have too much debt—and how to pay it off
▼ + stars: | 2023-04-05 | by ( Mike Winters | ) www.cnbc.com time to read: +5 min

For just credit card debt, the average amount is $5,910. If you aren't able to add anything to your emergency fund while covering your minimum debt payments, your debt burden is probably too high to comfortably manage. You can only afford to make minimum debt paymentsOnly making minimum payments can be a sign that your debt burden is unsustainable. You're opening new credit card accounts to help pay for older onesOne way to pay down credit card debt faster is through a balance transfer card that offers a 0% interest rate for a limited time, usually 12 to 21 months. To calculate your debt-to-income ratio, tally all of your monthly debt payments and divide that total by your monthly income, after taxes.

☆ How to Pick a Financial Advisor
▼ + stars: | 2023-03-17 | by ( ) www.wsj.com time to read: +12 min

Read on to get started:Types of financial advisorsMany financial professionals, including financial planners, securities brokers, investment managers, and insurance brokers call themselves financial advisors so it’s important to know exactly what services an advisor provides before hiring one. Financial advisor designationsThere are myriad designations for financial advisors but only a handful that indicate the expertise most consumers need. CPAs, or Certified Public Accountants, can be certified with a Personal Financial Specialist credential, which combines their tax expertise with personal financial planning knowledge. How to find a financial advisorFinding a financial advisor is not so different from finding any other specialized service you’re in the market for. The right financial advisor can help navigate your financial life, from budgeting everyday spending to fulfilling long-term financial goals over a lifetime including the purchase of a home and a comfortable retirement.

If the market gyrations and Silicon Valley Bank's failure are rattling your faith in stocks, there are places to look for safety. But for cash and bond allocations, T-bills – U.S. Treasurys with maturity of one year or less – might be the ticket. The rates will adjust and correct [at some point], and these short-term rates will go back to normal," he said. When buying bank CDs, investors should be mindful of the Federal Deposit Insurance Corp.'s coverage, he said. Hans Olsen, chief investment officer of Fiduciary Trust Company, highlighted short-duration, high-quality bonds are where it's at for safety.

Under a Biden administration plan, married couples filing taxes separately could get student-loan payments eliminated altogether. When filing separately, you can use your lower AGI to get lower monthly payments. Married couples could lower their monthly payments even more by filing their taxes separately, Hornsby says. Use this equation to calculate your new monthly student-loan paymentsHere's an equation you can use to estimate your new monthly student-loan payments, factoring in the new proposed IDR regulations. When filing separately, married people are no longer eligible to claim the $2,500 student-loan interest tax deduction.

☆ Workers haven't given up on getting their 'dream job' — but what they're looking for has changed
▼ + stars: | 2023-01-01 | by ( Shana Lebowitz | ) www.businessinsider.com time to read: +5 min

Some dislike the term "dream job." While younger generations are starting to think differently, people continue to beat themselves up over not having landed their dream job soon enough. Dreaming about workThe very term "dream job" is divisive. "I don't dream of labor," an allusion to the term "dream job," is a common refrain on TikTok. "When I think about dream job, I am mostly thinking about the money that it will pay to support my dream life," a chartered financial analyst wrote.

☆ 10 money managers who quietly control the vast fortunes of Jeff Bezos, Sergey Brin, the Waltons, and other big-name billionaires
▼ + stars: | 2022-12-27 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +24 min

Many über-rich people don't outsource their wealth — they hire their own chief investment officers. He left SAC in 2005 for Dune Capital Management, but stayed in touch with Steve during his five-year term at the investment firm. Andrew oversees CPV's portfolio, which primarily comprises direct private investments such as Collectors Universe, a collectibles-authentication company, and the New York Mets. In 2011, Wildcat Capital Management was launched with Potter as president and chief investment officer. Since November 2021, Carland has also served as the interim chief investment officer for Builders Vision's asset arm.

I started picking stocks and pouring money into crypto when I was bored during the pandemic, and haven't touched my portfolio since. Financial advisors told me I should diversify my investments and bring in professional help. Diversify your investmentsWhen I first started investing in 2020, I made the mistake of buying individual stocks that were mostly in the same sectors (technology and travel). "A financial advisor can help the person understand their options and advise them on the best way to move forward," says Marquardt. If you're looking into the tax implications of your investments, consult a tax professional for the details on your specific situation.

Then, pick a high-yield savings account, and consider a CD ladder for cash you can store safely away. "This can help you ‌get through tough times without having to rack up high interest rate debt," she says. Choose an account that pays moreIf you're the most comfortable keeping your cash liquid, certified financial planner Charles Thoman III says that's fine, but consider a savings account that's offering a high interest rate. "Find one that has a high interest rate, FDIC insurance, and low or no fees." However, she does recommend always shopping carefully and reading the fine print to understand terms, penalties, and FDIC coverage of a CD you're considering buying.

I asked financial experts to share the top ways a person can build up their wealth during a recession. Pros Check mark icon A check mark. Low annual fee for investment accounts; crypto trust investments available Check mark icon A check mark. Tax-loss harvesting Check mark icon A check mark. Mobile app and investing and retirement tools Check mark icon A check mark.

Most of us think we're getting a deal when we shop at the dollar store. But after talking to some financial experts, I've started to realize that not every item at a dollar store is a deal. Carey found that at Dollar Tree, 120 ounces cost $15, while 164 ounces of the same detergent at Walmart cost $12.74. ToothpasteA quick grab you might be tempted to pick up at a dollar store is toothpaste to have around the house. While some of these savings might be just a few cents, this can add up overtime, especially if you're filling up a cart at a dollar store.

☆ How top-ranked financial advisors are responding to near-retiree concerns about inflation, longevity
▼ + stars: | 2022-10-31 | by ( Annie Nova | ) www.cnbc.com time to read: +5 min

We asked four of the financial advisors who made CNBC's FA 100 list in 2022 what they're hearing from their older clients and how they're responding. 1 on CNBC's FA 100 list. A new concern, Harlemert said, is the impact rising interest rates are having on people's pensions. The value of a pension is based, in part, on current interest rates, he explained. For the last 10 years, he said, they've seen their pensions mostly rise in value as interest rates have remained at historic lows.

☆ How to Find a Financial Advisor
▼ + stars: | 2022-10-21 | by ( ) www.wsj.com time to read: +12 min

Read on to get started:Types of financial advisorsMany financial professionals, including financial planners, securities brokers, investment managers, and insurance brokers call themselves financial advisors so it’s important to know exactly what services an advisor provides before hiring one. Financial advisor designationsThere are myriad designations for financial advisors but only a handful that indicate the expertise most consumers need. Advisor fees and minimumsHow a financial advisor gets paid can be as important as how much you pay them because you want an advisor whose paramount consideration is your best interest, not their own, and whether or not that is the case is largely determined by how you pay them. How to find a financial advisorFinding a financial advisor is not so different from finding any other specialized service you’re in the market for. The right financial advisor can help navigate your financial life, from budgeting everyday spending to fulfilling long-term financial goals over a lifetime including the purchase of a home and a comfortable retirement.

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