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☆ Nasdaq CEO shares the best investing advice she's given her own son: It’s a ‘foundational element of wealth creation’
▼ + stars: | 2024-11-13 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

It's her most important money advice for all investing newcomers — including her own children, Friedman told CNBC Make It on Tuesday while speaking at the Fortune Global Forum 2024. "Learn by doing — with small amounts of money, or even on platforms where you don't actually have to use real money," said Friedman. The earlier you can start investing, the better, added Barclays CEO C.S. 'They should start young from that first paycheck, have a really long term view, and the equity markets are a really important part of that." Later in life, you'll thank yourself for starting early, said Friedman: "[Investing] is a foundational element of wealth creation in this country."

Persons: millennials, Gen, Adena Friedman, Friedman, Gen Zers, Roth, Douglas Boneparth Organizations: Nasdaq, CNBC, Fortune, Young, Survey, Barclays, C.S, Global Locations: New York

☆ Many Americans would rather talk about politics than money. Not having those conversations can cost you
▼ + stars: | 2024-10-07 | by ( Lorie Konish | ) www.cnbc.com time to read: +7 min

Kamil Krzaczynski | AFP | Getty ImagesThere are few topics Americans would rather not talk about more than money. 'Missed opportunities' of not talking about moneyFor both couples and families, not having those crucial financial conversations can cost them, financial advisors say. Have talks 'before an emergency situation arises'On a positive note, some money conversations are happening more regularly, U.S. Bank's research found. Still, 45% of respondents say they are unaware of their parents' financial situation, U.S. Bank found. To work past financial standoffs, it helps for couples to create a more welcoming environment to engage their partners in money conversations, Cherry said.

Persons: Kamil Krzaczynski, Wells, Scott Ford, Preston Cherry, Cherry, it's, Ford, Winnie Sun, Douglas Boneparth, Boneparth, Ted Jenkin, It's, Jenkin, Couples, — Organizations: AFP, Getty, U.S . Bank, CNBC FA, Sun, Wealth Partners, CNBC FA Council, Bank, Finance Locations: Chicago , Illinois, Wells Fargo, Green Bay , Wisconsin, Irvine , California, New York City, U.S, Atlanta

☆ 37% of couples use cash wedding gifts for the down payment on a new home, report says
▼ + stars: | 2024-09-30 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +2 min

More couples than ever before, 87%, reported including cash funds in their wedding registry, according to recent data from Zola. Of couples collecting cash, 37% are putting that money toward purchasing a house. With today's housing market, it's clear why couples are funneling wedding gifts into a down payment. If you're coming into a substantial financial windfall due to a wedding, or any other scenario, here's the best place to stash your potential down payment cash. "If a client of mine walked in with $30,000 of wedding money, I would say, 'Let's buy you a bond,'" he says.

Persons: Homebuying, Douglas Boneparth, Mark La Spisa, let's Organizations: Bone, U.S Locations: Zola, New York City, Vermilion

☆ Only 15% of Gen Z regularly saves a portion of their paycheck—how to start saving more today
▼ + stars: | 2024-08-23 | by ( Jade Thomas | ) www.cnbc.com time to read: +1 min

Gen Z adults aren't saving their money. Only 15% of Gen Z regularly puts a portion of their paycheck into a savings account, according to a recent Bank of America survey. And just 1 in 5 Gen Zers are contributing to a retirement account. Gen Z is typically defined as those born between the years of 1997 and 2012. The good news: Gen Zers are still under 30, and have plenty of time to save money and develop smart financial habits.

Persons: Gen Z, Zers, Gen, it's, Douglas Boneparth, Winnie Sun, Sun, you've Organizations: of America, Sun Group Wealth Partners

☆ 'Don't panic' amid stock market volatility, advisor says. Here's why staying invested pays off
▼ + stars: | 2024-08-05 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Westend61 | Getty ImagesLoading chart...Panic selling can 'crater your portfolio'Some investors are prone to panic selling during periods of volatility and then often miss the stock market recovery with cash sitting on the sidelines, research shows. "The roller-coaster ride back up happens just as quickly," and missing recovery days "can crater your portfolio," said Baker, who is also a member of CNBC's Financial Advisor Council. To that point, missing the 20 best days in the stock market from Jan. 1, 2003, to Dec. 30, 2022, would have cut your total portfolio returns by more than half, according to J.P. Morgan. Ultimately, staying invested pays off long-term because "it's a loser's game" to try to time the market, Baker said. Your existing cash reserves, for example, can cover emergencies or provide funds to "take advantage of opportunities," he said.

Persons: Baker, Morgan, Douglas Boneparth Organizations: CNBC's, Bone Locations: New York

☆ Boneparth: Now is the time to diversify to soften the blow from the rotation out of the mega-caps
▼ + stars: | 2024-07-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBoneparth: Now is the time to diversify to soften the blow from the rotation out of the mega-capsDouglas Boneparth, President of Bone Fide Wealth, discusses the critical week for markets and earnings season.

Persons: Douglas Boneparth Organizations: Bone

☆ Bone Fide's Douglas Boneparth on protecting your portfolio while investing in volatility
▼ + stars: | 2024-07-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBone Fide's Douglas Boneparth on protecting your portfolio while investing in volatilityCNBC’s Sharon Epperson with Bone Fide Wealth’s Douglas Boneparth, join 'Power Lunch' to discuss protecting your portfolio.

Persons: Douglas Boneparth, Sharon Epperson

Renovation loan eligibilityTo get a loan for a house renovation, you'll need to meet certain credit requirements. Cash-out refinances or renovation loans rolled into mortgages are typically the best renovation loan programs because they come with the lowest rates. Home renovation loans FAQsAre renovation loans a good idea? Renovation loans, or home improvement loans, can be a good idea for homeowners looking to make both essential and cosmetic changes to their homes. Renovation loans make it relatively convenient to complete upgrades or repairs that can boost your home's value.

Persons: It's, Fannie Mae's, Freddie Mac's, you'll, Douglas Boneparth Organizations: Federal Housing Administration, Bone, reno, Chevron

☆ Boneparth: Time to pare back exposure from mega-caps and reallocate to small-caps
▼ + stars: | 2024-07-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBoneparth: Time to pare back exposure from mega-caps and reallocate to small-capsDouglas Boneparth, President of Bone Fide Wealth, discusses how to navigate market volatility.

Persons: pare, Douglas Boneparth Organizations: Bone

☆ Boneparth: Don't abandon strategy in the face of stocks at all-time highs
▼ + stars: | 2024-06-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBoneparth: Don't abandon strategy in the face of stocks at all-time highsDouglas Boneparth, President of Bone Fide Wealth, discusses markets at all-time highs, taking risk off the table, and opportunities in fixed income.

Persons: Douglas Boneparth Organizations: Bone

☆ No need to cut rates when things are going so well, says Douglas Boneparth
▼ + stars: | 2024-05-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNo need to cut rates when things are going so well, says Douglas BoneparthDouglas Boneparth, Financial Advisor and President of Bone Fide Wealth, discusses the market rally, rate cuts, and earnings season.

Persons: Douglas Boneparth Douglas Boneparth Organizations: Financial, Bone

☆ Bitcoin halving isn't a big deal for long-term investors, but may have a 'huge' impact on one key group, says Columbia professor
▼ + stars: | 2024-04-19 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +3 min

Bitcoin's "halving" is expected to happen soon. But its potential impact depends on your relationship to the coin; it's likely to affect miners and investors differently. "To the people who own bitcoin because they think it's a good store of value, this halving is not that big of a deal. Miners receive bitcoins, known as block rewards, for verifying and validating transactions and helping keep the blockchain network secure. What the bitcoin halving may mean for investorsWhile the halving itself doesn't directly impact bitcoin's price, investors' anticipation of the event can lead to highly erratic price movements, says Douglas Boneparth, a certified financial planner and president of Bone Fide Wealth.

Persons: Douglas Boneparth, Boneparth, Malekan Organizations: Columbia Business School, Architecting, Money, CNBC, Bone, Miners

☆ 25% of Gen Zers say they'll need a therapist to deal with tax filing stress—here's the first step to take to make it easier
▼ + stars: | 2024-04-01 | by ( Annie Probert | ) www.cnbc.com time to read: +4 min

You will receive a W-2 form from your employer if you worked for a paycheck or earned at least $600 in 2023. You can find the 1099-INT form by logging into your bank account and following directions to tax documents. But even if you don't get a form from your exchange, "that doesn't mean you don't need to report it," says Pianoforte. The IRS's frequently asked questions on crypto transactions is also helpful for answering more detailed questions about how to report crypto on your taxes. Form 1098-TIf you're paying college tuition, a 1098-T form will help determine which education-related tax credits you're eligible for.

Persons: doesn't, Pianoforte, filers, Read, haven't, you've, Douglas Boneparth Organizations: Internal Revenue Service, NEC, cryptocurrency, CNBC, Bone

☆ Higher for longer may actually be a good thing, says Douglas Boneparth
▼ + stars: | 2024-03-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHigher for longer may actually be a good thing, says Douglas BoneparthDouglas Boneparth, President of Bone Fide Wealth, discusses the Fed, portfolio management, and the markets for the week ahead.

Persons: Douglas Boneparth Douglas Boneparth Organizations: Bone

☆ Bitcoin will soon be 'halved'—what that means for its price
▼ + stars: | 2024-02-29 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

Halving happens automatically when 210,000 "blocks" are created as part of the bitcoin mining process. The last halving event was in 2020, and the next one is expected sometime in April. Bitcoin's price has surged 36% since spot bitcoin ETFs were approved on Jan. 10. The built-in mechanism mimics the scarcity of gold and ensures that bitcoin mining becomes more expensive over time. "When supply goes down, price goes up, assuming demand remains the same or greater," says Boneparth, who holds investments in bitcoin and other cryptocurrencies.

Persons: Douglas Boneparth Organizations: Bone, CNBC's Locations: bitcoin

☆ Markets likely won't broaden until the Fed lowers rates, says Douglas Boneparth
▼ + stars: | 2024-02-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets likely won't broaden until the Fed lowers rates, says Douglas BoneparthDouglas Boneparth, Founder and President of Bone Fide Wealth, discusses inflation, equities vs. bonds, and his investing strategy.

Persons: Douglas Boneparth Douglas Boneparth Organizations: Bone

But borrowing money always comes with some risks, and home renovation loans can be particularly risky when used to purchase a fixer upper. Renovation loan eligibilityTo get a loan for a house renovation, you'll need to meet certain credit requirements. Cash-out refinances or renovation loans rolled into mortgages are typically the best renovation loan programs because they come with the lowest rates. Home renovation loans FAQsAre renovation loans a good idea? Renovation loans, or home improvement loans, can be a good idea for homeowners looking to make both essential and cosmetic changes to their homes.

Persons: —, It's, Fannie Mae's, Freddie Mac's, you'll, Douglas Boneparth Organizations: Service, Federal Housing Administration, Bone, reno, Chevron

☆ The S&P 500 hit another all-time high—but don't switch up your retirement saving strategy, says CFP
▼ + stars: | 2024-01-26 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Your 401(k) may look a little better than usual as tech stocks pushed the S&P 500 index to another all-time high as of market close on Thursday. But now's not the time to change up your retirement saving strategy. Your retirement saving strategy should be proactive rather than reactive. Since the stock market is, by nature, unpredictable, it isn't wise to base your long-term investment strategy on how the market is performing in the short term. "You can't predict exactly when that bull market becomes a bear market and vice versa," Shamrell says.

Persons: now's, You've, Douglas Boneparth, Mike Shamrell, Shamrell Organizations: Bone, CNBC

☆ It's time to boost 401(k) plan contributions for 2024. Here's how much you should save
▼ + stars: | 2024-01-08 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

If you're itching to save more for retirement, there are higher 401(k) contribution limits for 2024. But there are a few things to consider before maxing out your plan, experts say. For 2024, you can defer up to $23,000 into 401(k) plans, up from $22,500 in 2023, with an extra $7,500 for savers age 50 and older. Some higher earners can funnel even more into their 401(k), depending on plan rules. By comparison, after-tax Roth 401(k) contributions allow assets to grow tax-free, without reducing current-year taxes.

Persons: deferrals, Roth, Douglas Boneparth Organizations: Vanguard, Finance, Bone, CNBC's Locations: New York

☆ 56% of Gen Z doesn't have an emergency fund—here's the first thing you should do to build one, according to a CFP
▼ + stars: | 2023-11-14 | by ( Annie Probert | ) www.cnbc.com time to read: +1 min

High inflation and interest rates have made it hard for people of all ages to build up emergency funds, but Gen Z seems to be having a particularly difficult time stashing away cash, a recent Bank of America survey found. In fact, 56% of Gen Zers say they don't have enough savings to cover three months of expenses in the event of an emergency. Given that emergency funds tend to grow as people get older and wealthier, Gen Z's lack of savings doesn't come as a shock to Douglas Boneparth, certified financial planner and president of Bone Fide Wealth. But this doesn't mean that younger generations should procrastinate when it comes to starting an emergency fund. Here are the basics of an emergency fund and why it's important for Gen Z to begin stashing away cash now.

Persons: Gen, Gen Zers, They're, Bankrate, Douglas Boneparth, it's, Z Organizations: of America, Bone, CNBC

☆ Exchange-traded funds are among the top 3 investment products that got more popular from 2020, survey finds
▼ + stars: | 2023-11-13 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

Getty ImagesExchange-traded funds came in third among the top 10 investment products to grow in popularity with U.S. households from 2020 to 2022, according to a new survey. Additionally, consumers are more aware of what investment products they own compared to a decade ago. Separately managed accounts grew the mostMeanwhile separately managed accounts and high-yield savings accounts beat out ETFs for spots No. 2 in the Hearts & Wallets survey of investment products that grew the most from 2020 to 2022. Meanwhile, high-yields savings accounts speak to the story around inflation and the Federal Reserve increasing rates, which "have been the main headline the last year or so," he said.

Persons: Gen Z, Laura Varas, Douglas, Boneparth, Douglas Boneparth, Blair duQuesnay, duQuesnay Organizations: Getty, Exchange, Finance, Bone, Federal Reserve, FDIC, CNBC's FA, Ritholtz Wealth Management, CNBC FA Locations: U.S, New York, CNBC's

☆ Don’t start investing until you’ve accomplished these 2 things, says CFP
▼ + stars: | 2023-10-26 | by ( Annie Probert | ) www.cnbc.com time to read: +2 min

Tackle high-interest credit card debtWith credit card debt topping $1 trillion for the first time this year — and average interest rates over 21% — Boneparth said consumers should focus on paying off high-interest credit card debt before they even think about investing. If your credit card debt carries an interest rate of 15% or more, "get rid of it as soon as possible," he said. Because of that, tackling high-interest credit card debt should be first and foremost on your plan of action, Boneparth said. In addition to paying down credit card debt, you should also examine your spending habits. Asking yourself why you're amassing credit card debt and whether you can really afford to do so can help improve your financial behavior.

Persons: you've, Douglas Boneparth, CNBC's Frank Holland, Boneparth, you'll Organizations: Bone, CNBC

☆ Don’t buy a home as an investment, says CFP: It’s just a ‘roof over your head’
▼ + stars: | 2023-10-20 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

When it comes to buying a home, think of it as a place to live — not as an investment. A home can have sentimental value too, but otherwise it's "very tough to calculate the return on your investment," he said. "If you sell the home many years down the road and you make some money — fantastic," Boneparth said. However, it's very difficult to keep track of "every little repair and addition you've made to that house" over "20 or even 30 years" of ownership. Boneparth makes an exception for rental properties, since they can generate revenue for their owners.

Persons: Douglas Boneparth, CNBC's Frank Holland, Boneparth, you've Organizations: CNBC

☆ Retirement goal expectations vs. reality: How Americans stack up
▼ + stars: | 2023-10-19 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

In fact, 45% of Gen Z and millennial workers feel somewhat optimistic. And yet, Gen Z workers are the biggest cohort of non-savers, Bankrate also found. The average 401(k) balance among boomers is $220,900, according to the latest data from Fidelity Investments, the nation's largest provider of 401(k) plans. For Gen Z, the average balance is $8,100. They are also significantly more likely to have at least $100,000 in a retirement savings account, the report found.

Persons: Xers, Z, Bankrate, Gen Xers, Douglas Boneparth, anther, Boneparth Organizations: Fidelity Investments, Bone, Northwestern Mutual, CNBC, Council, Country Financial Locations: New York

☆ Here’s how much of your income you should invest as a ‘good start’—and how much is considered ‘excellent’
▼ + stars: | 2023-10-19 | by ( Ryan Ermey | ) www.cnbc.com time to read: +1 min

Financial advisors will tell you that you need a plan for every dollar you earn in income. You likely know how much you need to put toward rent and utilities each month, for instance. How much you're willing or able to save depends on a number of factors unique to you, such as your income, debt level and personal goals. For people earning a $50,000 annual salary, stashing $5,000 a year "is a good start," he added. "Getting into that 20% to 30% category is deemed really good to excellent.

Persons: Douglas Boneparth, Boneparth, Frank Holland Organizations: Bone

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