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Search resuls for: "Senior Vice President Financial Advisor At Wealth Enhancement Group"


5 mentions found


☆ Powerball's jackpot is now $420 million and Mega Millions' top prize is $494 million. Here's how to handle a huge windfall
  + stars: | 2022-10-12 | by ( Sarah O'Brien | Nicole Webb | Senior Vice President Financial Advisor At Wealth Enhancement Group | ) www.cnbc.com   time to read: +3 min
Powerball's jackpot is an advertised $420 million for Wednesday night's drawing. Mega Millions' top prize is even more: $494 million for the next pull, set for Friday night. Of course, the chance of a single ticket matching all six numbers drawn in either game is tiny: 1 in 292 million for Powerball and 1 in 302 million for Mega Millions. Nevertheless, it's worth giving thought to what you'd do if you were to beat the odds and land such a windfall. The process of figuring out how to handle a huge amount of money can take several months, Stanzak said.
☆ These are common (and costly) Roth IRA conversion mistakes. Here's how to avoid them
  + stars: | 2022-10-11 | by ( Kate Dore | Cfp | Nicole Webb | ) www.cnbc.com   time to read: +2 min
The strategy, which transfers pre-tax IRA funds to a Roth IRA for future tax-free growth, may pay off when the market drops because you can buy more shares for the same dollar amount. Here are three of the biggest Roth conversion errors — and the best ways to avoid them. You'll need to compare the break-even point of the upfront levy on pre-tax contributions and earnings to future tax-free growth, she said. But even if the tax-free growth won't exceed the upfront costs during your lifetime, a Roth conversion can still be used as a "wealth transfer tool," Collado said. Of course, this assumes there are heirs to enjoy the future tax savings.
☆ Here's why more than 7 million student loan borrowers could miss out on federal forgiveness program
  + stars: | 2022-10-10 | by ( Annie Nova | Nicole Webb | Senior Vice President Financial Advisor At Wealth Enhancement Group | ) www.cnbc.com   time to read: +2 min
Freshsplash | E+ | Getty ImagesThe White House has repeatedly said that its application for student loan forgiveness, which is expected to go live within days, will be simple. Still, consumer advocates say that any red tape around the relief is likely to cause millions of borrowers to miss out on it. Applicants may miss out due to mistaken beliefsA big reason some eligible borrowers may not apply is that they'll mistakenly believe their income disqualifies them, Kantrowitz said. However, the vast majority of people with student debt fall under these income caps, Kantrowitz said. Some borrowers, meanwhile, may have outdated contact information on file with their student loan servicer, and therefore not be getting updates about the relief, according to Kantrowitz.
☆ Jobs, home prices and market volatility are among clients' big concerns right now, advisors say
  + stars: | 2022-10-03 | by ( Sarah O'Brien | Nicole Webb | Senior Vice President Financial Advisor At Wealth Enhancement Group | ) www.cnbc.com   time to read: +3 min
We spoke with experts from CNBC's Financial Advisor Council to see what they were discussing with their clients. The unemployment rate remains low: The most recent U.S. Bureau of Labor and Statistics data shows an unemployment rate of 3.7% for August, up slightly from 3.5% in July. Memories of the Great Recession lingerYet some clients have memories of the 2008-2009 Great Recession and its accompanying broad-based job losses. In December 2007, ahead of the economic woes brought on by the financial crisis, the U.S. unemployment rate was 5%, according to the BLS. Boneparth said the labor market concerns come primarily from clients who work for startups that are largely tech-related.
☆ Why you should be wary of investing advice from celebrities like Kim Kardashian
  + stars: | 2022-10-03 | by ( Jessica Dickler | Nicole Webb | Senior Vice President Financial Advisor At Wealth Enhancement Group | ) www.cnbc.com   time to read: +2 min
"Clearly the SEC is making an example out of Kim Kardashian, who is the biggest influencer perhaps in the world," said Douglas Boneparth, a certified financial planner and the president of Bone Fide Wealth in New York. "We encourage investors to consider an investment's potential risks and opportunities in light of their own financial goals." Gensler also published a video warning investors not to make investment decisions based entirely on the advice of a celebrity or influencer. "Regardless of where we are hearing this advice, we need to remember what works for one person may not be the right advice for you," said Ted Rossman, a senior industry analyst at Bankrate. This used to be a rich person's game, but now everyone can buy stocks or crypto — but that can also lead toward a dangerous situation if you don't have knowledge.
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