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☆ Yields on cash are still 'well ahead of inflation,' expert says. Here's where to put your money now
▼ + stars: | 2024-11-08 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Now that the central bank is lowering rates — with a new quarter point rate cut announced by the Fed on Thursday — experts say having money in cash can still be a competitive strategy. Yet just how much cash to set aside is a question every individual investor needs to determine. Strive for at least a six-month emergency fundMost financial advisors recommend having cash set aside so that unexpected expenses don't blow your budget or cause you to rack up credit card debt. However, having a year's worth of expenses set aside may also be reasonable, depending on your household budget, she said. For many individuals, inflation and having too many expenses has made finding cash to set aside more difficult.

Persons: Nopphon, Greg McBride, Callie Cox, that's, Cox, Natalie Colley, Colley Organizations: Istock, Getty, Federal Reserve, Fed, Ritholtz Wealth Management, Francis Financial, Finance Locations: New York

☆ A couple rents its 40-foot-tall fire tower on Airbnb for over $260 a night — over 1,600 are on the waitlist for the property's 65 spots
▼ + stars: | 2024-08-13 | by ( Amanda Adler | ) www.businessinsider.com time to read: 1 min

The US Forest Service manages rentals of repurposed fire lookouts, but these historic properties are hard to come by. Dabney Tompkins and Alan Colley decided to build their own tower in the early 2000s. "We particularly liked the picture on the front cover," Colley said. The couple attempted to book a stay at the first lookout that caught their eye, but they were out of luck — it was booked through the next year. They managed to secure a last-minute overnight at a different fire-lookout tower, prompting the Portland-based pair to spend the next several years renting similar properties from the US Forest Service.

Persons: Dabney Tompkins, Alan Colley, Tom Hanny, Tompkins, Colley Organizations: US Forest Service Locations: British Columbia, Portland

☆ Viral shop sold $9,800 of NYC earthquake T-shirts in 21 hours—it's run by an ex-JPMorgan Chase banker who quit from burnout
▼ + stars: | 2024-04-09 | by ( Megan Sauer | ) www.cnbc.com time to read: +1 min

It took 15 minutes for Colley and his team to make the shirt and hang it outside his customizable apparel shop, in New York's Upper West Side neighborhood. Colley didn't advertise it on social media, and priced the shirt at $10, not expecting to turn a large profit, he says. A customer told him that the shirt had been viewed almost 2 million times on social media platform X, he adds. The shop sold roughly 1,000 earthquake shirts over 21 hours on Friday and Saturday, resulting in more than $9,800 in revenue, according to documents reviewed by CNBC Make It. Tourists stopped by because their friends had seen videos of his shop on local news channels in Italy, says Colley.

Persons: Kerry Colley glanced, Colley, Colley didn't, —, Colley —, he's, haven't Organizations: CNBC, JPMorgan Chase Locations: United States, New York's, Italy

☆ 'Gray divorce' has doubled since the '90s — and the financial risk is high for women
▼ + stars: | 2024-03-23 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

The rate of "gray divorce" — a term that describes divorce at age 50 and older — doubled from 1990 to 2019, according to a 2022 study published in The Journals of Gerontology. The 'chronic economic strain' of gray divorceIn heterosexual relationships, gray divorce typically "has more negative implications for women than for men," said Kamila Elliott, a certified financial planner and co-founder of Collective Wealth Partners, based in Atlanta. Altogether, women's standard of living declined by 45% following a gray divorce, while the drop for men was less severe, at 21%, Brown and Lin wrote. These negative economic outcomes persisted over time, "indicating that gray divorce operates as a chronic economic strain," they said. For example, let's say a husband is eligible for a larger Social Security benefit relative to his female spouse.

Persons: Susan Brown, Lin, Kamila Elliott, Laura Tach, Alicia Eads, Natalie Colley, Brown, Elliott, Women shouldn't, Colley, I've Organizations: Gerontology, Bowling Green State University, Collective Wealth Partners, Cornell University, University of Toronto, Francis Financial, Social Security, Women, Collective Wealth Locations: Atlanta, New York

☆ Social Security benefits after divorce: In some cases 'your ex is worth twice as much dead than alive,' expert says
▼ + stars: | 2024-03-19 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

red_moon_riseThe rules around claiming Social Security benefits are full of caveats and nuances. "Your ex is worth twice as much dead than alive," said Mary Beth Franklin, a certified financial planner and Social Security expert. The calculus assumes the first spouse to die had a larger Social Security retirement benefit than the survivor. Social Security rules for married, divorced spousesThe federal government determines Social Security benefits based on age and earnings history. Claiming benefits based on an ex-spouse's earnings record doesn't affect or reduce that former spouse's benefits, Colley said.

Persons: Mary Beth Franklin, Natalie Colley, Sandy, she'd, —, Franklin, Colley Organizations: Social, Social Security, Women, Francis Financial, Social Security Administration, spouse's Social Security, spouse's, SSA Locations: West Palm Beach , Florida, New York

☆ Cameroon squeaks by Gambia in AFCON game dubbed the ‘best match in the history of football’
▼ + stars: | 2024-01-24 | by ( Ben Church | ) edition.cnn.com time to read: +4 min

CNN —The Africa Cup of Nations (AFCON) is always entertaining, but few games in the history of the competition can stand up to Cameroon’s 3-2 win against Gambia on Tuesday. “The match, like all of AFCON, is insane,” he added in a separate post. The first goal didn’t come until the 56th minute though, when Cameroon striker Karl Toko Ekambi headed his country in front. Gambia looked to have stunned the five-time AFCON champion but couldn't hold on in the frantic affair. The 2019 champion, which boasts an array of top-class talent, finished bottom of Group D after failing to win a single game in the group stages.

Persons: André Onana, Andrés Onrubia Ramos, ”, didn’t, Karl Toko Ekambi, deservedly, Ablie Jallow, Kenzo Tribouillard, Colley’s, Gambia’s James Gomez, ‘, Christopher Wooh, Wooh, De verdad, Iba, Muhammed Sanneh, Tom Sainfait, ” Onrubia, “, Yali Dellahi’s Organizations: CNN, Africa, of Nations, Gambia, Cameroon, Manchester United, Getty, Lions, PARTIDO, LA HISTORIA DEL FÚTBOL, C, Nigeria, Mauritania Locations: Spanish, Cameroon, Gambia, AFP, GOL, GAMBIA, el, @AndiOnrubia, Algeria

[1/5] Several volunteers give Spanish classes to migrants outside the Las Raices Camp in La Laguna, Spain, November 5, 2023. The mix-up shows just how overwhelmed the Spanish archipelago is, Canary Islands president Fernando Clavijo told Reuters, after a record 32,000 migrants came so far this year. At Tenerife's Las Raices adult migrants' centre in San Cristobal de La Laguna, Camara and his friend from the voyage, 16-year-old Modou Lamin Jarju from Gambia, sat around with dozens of other west Africans. Reuters GraphicsOne of the most strained of the eight Canary Islands is El Hierro, its population of 9,000 more than matched by the arrival of 11,000 migrants this year. At its largest minors' centre on a recent day, some 300 children ate breakfast on a basketball court before Spanish lessons.

Persons: Borja Suarez, Moussa Camara, Camara, Classing, Fernando Clavijo, Fran Morenilla, Salaoum Colley, Amparo Morales, Clavijo, El Hierro, Corina Pons, Horaci Garcia, Charlie Devereux, Andrew Cawthorne Organizations: REUTERS, CRISTOBAL, LA LAGUNA, Reuters, Reuters Graphics Reuters, Las, Amnesty, Canaries, San Cristobal de La Laguna, Camara, Thomson Locations: La Laguna, Spain, Guinea, Europe, Islands, Spanish, Almeria, Canary, San Cristobal de La, Jarju, Gambia, El Hierro, European Union, Africa, Senegal

[1/4] Cars pass under an overpass at the General Motors Car assembly plant in Oshawa, June 1, 2012. REUTERS/Mark Blinch/File Photo Acquire Licensing RightsOSHAWA, Ontario, Oct 10 (Reuters) - General Motors (GM.N) and Canadian union Unifor reached a tentative agreement on Tuesday just hours after 4,300 workers went on strike at three GM facilities. The union said the tentative agreement follows the pattern agreement Unifor reached with Ford Motor (F.N) last month and includes wage hikes of up to 25%. GM has lost 34,176 vehicles of production since the start of the UAW strike, according to an estimate by Deutsche Bank. GM has laid off 2,300 U.S. workers due to the impacts of the UAW strike.

Persons: Mark Blinch, Unifor, Lana Payne, Payne, we’re, Darrell Colley, Stellantis, Arlyn McAdorey, Shivansh Tiwary, Jyoti Narayan, David Shepardson, Mark Potter, Matthew Lewis, David Gregorio Our Organizations: General Motors, REUTERS, Rights, Ford Motor, Workers, GM, Ford, United Auto Workers, UAW, Deutsche Bank, Chrysler, Unions, Thomson Locations: Oshawa, Rights OSHAWA, Ontario, U.S, United States, Oshawa , Ontario, Bengaluru, Washington

☆ Lower Manhattan for Less Than $500,000? A Young Couple Knew They’d Need to Compromise.
▼ + stars: | 2023-08-31 | by ( Joyce Cohen | ) www.nytimes.com time to read: +2 min

Email: thehunt@nytimes.com]The couple contacted Matt DeSilva, an associate broker with Corcoran, whom Ms. Colley had met a few years before when she had a side hustle drawing floor plans for real estate agents. Mr. Mazumder, who is from Cleveland and has a Ph.D. in government from Harvard, is a writer and a cook. The couple, both 30, focused on co-ops priced up to $500,000, to translate into a monthly outlay of less than $3,000. “A lot of the time, the lower somebody’s budget, the higher their expectations.”Although Ms. Colley was happy to stay in her old stomping ground, Lower Manhattan won out. “I’ve been pretty used to not having those things,” Mr. Mazumder said.

Persons: Emma Colley, Shom Mazumder, Colley, ”, “, Matt DeSilva, Corcoran, Mazumder, Mr, DeSilva, I’ve Organizations: Pratt Institute, HGTV, Harvard University, Mr, Harvard, Lower Manhattan Locations: Boston, New York City, Clinton Hill, Bedford, Stuyvesant , Brooklyn, Rochester , N.Y, Cleveland, Lower

☆ Where to get the best returns on your savings when rates are high
▼ + stars: | 2023-05-03 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +6 min

The average bank savings rate as of April 26 was a paltry 0.24%, according to Bankrate. At some of the biggest banks, savings rates are as low as 0.01%. For the rest of your emergency fund and other savings, you can get a healthy return just by opening an online high-yield savings account at an FDIC insured online bank. As with most bank rates, high-yield rates are variable so can change at any point. Don’t chase yieldAs attractive as many savings rates are today, they are no substitute for the long-term returns you can earn in a diversified investment portfolio of stocks, bonds and other assets.

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