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☆ Here's why the housing market could see more action this year - and what it means for affordability
▼ + stars: | 2023-01-30 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Now — into the housing market we go. Nadia Evangelou, senior economist for the NAR, told me recently the housing market could turn around in 2023, but unaffordability would remain a prevailing theme. In other news:People sit outside the New York Stock Exchange (NYSE) in New York City, U.S., September 15, 2016. Elon Musk said he's worried about the Fed "crushing" the value of the entire stock market. The current uncertainty in the housing market can be paralyzing for investors, but there's still opportunities to make money, he explained.

[1/5] Protesters clash with police officers during an anti-government demonstration following the ouster of Peru's former President Pedro Castillo, in Lima, Peru January 24, 2023. The violence has left 48 people dead with 10 more civilians killed in accidents or other issues related to the blockades. Protesters have pledged to fight on until new elections are held, Boluarte resigns and Congress is shut. The protests, while focused in the south, have spread across the nation, with hundreds of road blockades using trees, rocks and car tires jamming up transport. "I am Inca blood," said Cirilo Yupanqui, wearing a pink gas mask while protesting in capital Lima.

☆ How these Black female entrepreneurs are building wealth
▼ + stars: | 2023-01-29 | by ( Macklin Fishman | Lindsey Jacobson | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow these Black female entrepreneurs are building wealthThese four Black female entrepreneurs make thousands of dollars a year pursuing their passions. Wilglory Tanjong is the founder and CEO of Anima Iris, a luxury handbag brand whose purses are crafted by artisans in Senegal. Helena Faustin runs a food blog called That Nurse Can Cook where she shares Jamaican recipes. Domonique Brown is an artist and founder of DomoINK, an art and home decor business. Paulana Lamonier teaches Black Americans to swim at her swim school, Black People Will Swim.

"If you have a talent, harness that talent, learn as much as you can from it, and monetize that thing." Like Brown, Paulana Lamonier turned her passion into a business designed with Black Americans in mind. Lamonier said her business, Black People Will Swim, is a "call to action" to make the swimming space more inclusive. Lamonier hopes Black People Will Swim will allow "Black and brown people to see themselves and see that it's possible." Watch the video to learn more about how these Black female entrepreneurs are building wealth.

☆ A financially independent 34-year-old says that building wealth through real estate investing is 'a numbers game.' He explains how to win the game by avoiding 'lazy money.'
▼ + stars: | 2023-01-27 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

The key to making money as a real estate investor is to avoid what he calls "lazy money." He also owns a handful of properties and manages two funds that invest in commercial real estate, both of which he owns a piece of. "I'm supremely confident that real estate is much better from a risk-reward standpoint than stocks," the 34-year-old told Insider. Making money via real estate investing "is all a numbers game," said Berkley. And the way to win the game is by avoiding what he calls "lazy money," which he describes as money that's not being put to use in the best way possible.

Some hedge funds, wealth managers, and asset managers are still hiring. Layoffs across industries have been dominating headlines in January, and Wall Street has been no exception. Big-name hedge funds like Citadel, D. E. Shaw, and Millennium Management posted double digits in a year that many other investment managers would rather soon forget. Alternative asset managers, meanwhile, are hiring in the private-wealth-management businesses they've spent recent years building out. Emily Landon, the CEO of the Chicago-based headhunting firm The Crypto Recruiter, pointed to the job board Crypto Careers, which has over 2,400 openings.

A TransUnion survey found 5.8 million people opened their first credit account in 2021, up from 5.1 million in 2020. New credit users, primarily led by Gen Z, are recovering to pre-pandemic levelsThe TransUnion survey reports that 5.8 million consumers opened their first credit account in 2021, nearly reaching pre-pandemic levels. The survey found that credit consumers generally perform at comparable levels to more established credit consumers across the nine countries surveyed. In some cases, though not in the US, new credit consumers had lower delinquency rates than older credit consumers. High interest rates can make it challenging to build a positive credit history, but you need a positive credit history to qualify for lower interest rates.

☆ U.S. private jet buyers seek distressed planes in early sign of turbulence
▼ + stars: | 2023-01-24 | by ( Allison Lampert | ) www.reuters.com time to read: +5 min

[1/2] A Gulfstream logo is pictured during the European Business Aviation Convention & Exhibition (EBACE) at Geneva Airport, Switzerland May 28, 2018. From preowned planes selling more gradually to flattening business jet traffic, demand is beginning to moderate, aviation lawyers, brokers and analysts said. Investors will be watching for clues when Gulfstream-maker General Dynamics Corp (GD.N) and Cessna business jet maker Textron Inc (TXT.N) report earnings on Wednesday. Planemakers rarely disclose cases of distressed planes, but argue they can easily resell unwanted models. Some buyers also scrambled late last year to find distressed planes to qualify for favorable taxation rules.

☆ First-time homebuyers are 'royally screwed'
▼ + stars: | 2023-01-22 | by ( James Rodriguez | ) www.businessinsider.com time to read: +13 min

For first-time homebuyers like Talej, the outlook has never been bleaker. And during that year, first-time buyers accounted for just 26% of all home purchases, the lowest percentage ever, according to the NAR. The racial makeup of first-time homebuyers also set records in 2022, but the lack of progress in Black homeownership was perhaps most shocking. The percentage of first-time homebuyers who were white hit a two-decade high of 88% last year, up from 83% in 2003. Hope is a fickle thingThere's some slight relief on the horizon for first-time homebuyers.

☆ How 'Cryptoqueen' Ruja Ignatova ended up as the only woman on the FBI's most-wanted list
▼ + stars: | 2023-01-22 | by ( Faith Karimi | ) edition.cnn.com time to read: +12 min

Ruja Ignatova is one of the FBI's 10 most-wanted fugitives -- the only woman currently on that list. FBIShe is now one of the FBI’s 10 most-wanted fugitives, alongside accused gang leaders and murderers, and is the only woman currently on that list. The bureau declined to provide additional details to CNN beyond court documents from the US Department of Justice, which did not list an attorney for Ignatova. “The cryptocurrency OneCoin was established for the sole purpose of defrauding investors,” IRS Special Agent John R. Tafur said in a statement. Less than two weeks later, on October 25, 2017, she boarded a commercial flight from Sofia, Bulgaria, to Athens, Greece, court documents said.

☆ Bad news for millennials: Things have never looked bleaker for first-time homebuyers
▼ + stars: | 2023-01-22 | by ( James Rodriguez | ) www.businessinsider.com time to read: +13 min

For first-time homebuyers like Talej, the outlook has never been bleaker. This unfortunate combination means first-time buyers are waiting longer to purchase homes and winning out with less frequency than ever before. And during that year, first-time buyers accounted for just 26% of all home purchases, the lowest percentage ever, according to the NAR. The percentage of first-time homebuyers who were white hit a two-decade high of 88% last year, up from 83% in 2003. These trends only compound the bad economic news for millennials, who make up the majority of today's first-time buyers.

☆ Higher Social Security cost-of-living adjustments may affect your taxes. Here's how to plan
▼ + stars: | 2023-01-20 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

Social Security recipients are just starting to see the record 8.7% cost-of-living adjustment in their monthly checks. Last year's 5.9% cost-of-living adjustment was like getting a 6% wage bump in 2022, according to Mary Johnson, Social Security and Medicare policy analyst at The Senior Citizens League. A recent survey by The Senior Citizens League found 57% of older taxpayers worry more of their Social Security benefits will be taxed due to last year's 5.9% cost-of-living adjustment. More from Personal Finance:What the U.S. debt ceiling could mean for Social Security and MedicareApproaching 62? However, beneficiaries would be wise to get a jump on their tax planning for next year to mitigate the effects of the 8.7% cost-of-living adjustment.

☆ Foundation empties coffers to fund Black paper in Baltimore
▼ + stars: | 2023-01-19 | by ( The Associated Press | ) www.nbcnews.com time to read: +8 min

She and Brandon Soderberg, a former Baltimore City paper editor, had tried to launch a new paper, the Baltimore Beat, but the publishing company that supported it pulled the plug. Decades ago, the Holofceners left Baltimore for the suburbs, like thousands of other white families, leaving the city with a depleted tax base. The large grant is an attempt to counter the idea that “any giving is good giving,” Holofcener says. “There’s a real opportunity for us to engage.”The problem was that none of the cousins actually had any say over how the family foundation doled out money. Instead, the pause gave the paper and the family time to thoroughly nail down their plans.

☆ Football and Finances: NFL's Ndamukong Suh teaches kids money smarts
▼ + stars: | 2023-01-18 | by ( Chris Taylor | ) www.reuters.com time to read: +5 min

That would be Ndamukong Suh, 36, an American football star who strikes fear into the hearts of opposing teams. Some NFL players and other well-paid professional athletes run into money troubles after their playing careers end. But Suh did fall into a typical money trap early in his career, spending more than he should have. Personally I made the mistake of going out to nightclubs and spending $25,000 to $50,000, versus taking that money and investing it." It is his hope that beyond the current target cities, the money smarts initiative with Intuit will go global.

☆ Gen Z is driving luxury sales as wealthy shoppers get younger
▼ + stars: | 2023-01-17 | by ( Robert Frank | ) www.cnbc.com time to read: +3 min

"By 2030, younger generations (Generations Y, Z, and Alpha) will become the biggest buyers of luxury by far, representing 80% of global purchases," it said. Luxury sales have so far been largely immune to rising interest rates, a slowing economy and high inflation. Bain estimates that global sales of personal luxury goods sales surged 22% in 2022, to 353 billion euros, or roughly $381 billion. The U.S. regained the top spot for luxury sales in 2022, surpassing China, with 25% sales growth and total sales of 113 billion euros, or about $121 billion. Bain said Web 3.0, including the metaverse and NFTs — a type of digital asset called nonfungible tokens — will help future luxury sales to younger consumers even further.

☆ Morgan Stanley's Q4 results show the Club holding is firing on all cylinders, as the stock soars
▼ + stars: | 2023-01-17 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Those deals — valued at roughly $13 billion and $7 billion, respectively — pushed Morgan Stanley further into the money management world. Expense efficiency ratio is a measure of efficiency that is calculated as total non-interest expenses divided by net revenue. Segment results Institutional securities net revenue of $4.8 billion for the fourth quarter missed analysts' forecasts of nearly $5.09 billion. Wealth management net revenue of $6.63 billion for the quarter exceeded Wall Street's expectations of $6.29 billion. Investment management net revenue of $1.46 billion for the quarter outpaced the $1.29 billion consensus estimate.

☆ Oxfam calls for 'billionaire-busting' policies, says the world's top 1% has been getting richer much faster than everyone else
▼ + stars: | 2023-01-16 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The top 1% has garnered two-thirds of the $42 trillion new wealth created since 2020, per UK non-profit Oxfam. Oxfam's calling on governments to impose much higher taxes on the super-rich to redistribute wealth. That's twice as much as what the rest of the 99% managed to amass in new wealth, Oxfam said citing Credit Suisse data. Just four cents of every tax dollar come from wealth taxes, according to Oxfam's analysis based on data from the Organisation for Economic Co-operation and Development. Oxfam published its report just as the World Economic Forum commences on Monday in Davos, Switzerland.

With the tax-advantaged investing component of a permanent life insurance policy, life insurance is the gift that keeps giving. Life insurance is more affordable than you may thinkPerceived cost is one factor that deters people of color from buying adequate life insurance. Unfortunately, we've seen licensed life insurance agents who still tell buyers term to whole conversions are "guaranteed," or rates will stay the same in those life insurance conversions. Life insurance doesn't have to cost a pretty penny, and life insurance is constantly changing. Permanent life insurance is generally more expensive than a term life insurance policy and can vary highly based on various factors.

☆ Cramer sees bullish signs starting to emerge in the stock market, just not in the same places as before
▼ + stars: | 2023-01-16 | by ( Jim Cramer | ) www.cnbc.com time to read: +9 min

Case in point: Mike Wilson, the genius of 2022, the strategist who was the most negative — and, therefore, the most right. Seven days ago, he predicted the bank earnings, the kick-off, would jolt the market by coming in sharply below expectations. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

You can also get a rewards credit card to get cash back or travel miles on everything you buy. Capital One Venture Rewards Credit Card Learn More Information about the Capital One Venture Rewards Credit Card has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication. The Capital One Venture X Rewards Credit Card is one of the more affordable cards in this category. Capital One Venture X Rewards Credit Card Learn More Information about the Capital One Venture X Rewards Credit Card has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication. There are many types of coverage you can get with credit card travel insurance.

In January 2021, my net worth was -$15,000. Despite this, my net worth increased from -$15,000 to $15,000 since January 2021. Together, these accounted for an increase of $12,000 in my net worth. In the end, these different sources accounted for an additional $5,000+ that I invested over the last six months — which has allowed me to surpass my original net worth goal for this time period. Three years ago, I made the first deposit into my Roth IRA and today that account makes up a substantial portion of my net worth.

The wealth gap remains a harsh reality for women of color, which makes it harder to build wealth. "Decide on what you're going to save and invest on a monthly basis," she says. You might not have been exposed to building wealth, the tenets of investing and paying taxes, and basic financial planning. Don't worry about getting it perfectFor first-generation women of color, it starts with learning more and doing more. You're going to make mistakes and you're going to trip along the way.

☆ UK review of 'golden' visas for millionaires finds links to corruption
▼ + stars: | 2023-01-12 | by ( Andrew Macaskill | ) www.reuters.com time to read: +4 min

The government first commissioned the visa's review in 2018 after the poisoning of former Russian double agent Sergei Skripal in Britain. Russian oligarchs and newly-minted Chinese entrepreneurs have flocked to London over the past two decades, snapping up everything from opulent homes to soccer clubs. Under the programme, foreigners who invested 2 million pounds in assets in Britain could apply for permanent residency after five years in the country. Investing 10 million pounds allowed an application after two years. In total, more than 12,000 golden visas have been granted, including more than 2,500 to Russians, according to government data.

☆ Inflation just dropped to 6.5%—but the 'most important' factor in predicting if it will keep falling is up 0.4%
▼ + stars: | 2023-01-12 | by ( Mike Winters | ) www.cnbc.com time to read: +3 min

However, an inflation measure recently described by Federal Reserve chairman Jerome Powell as "most important" in determining where inflation will go has increased after being largely flat for the previous two months. In Thursday's CPI report, "services less rent of shelter" showed a 0.4% increase in December. Prior to today's CPI report, the costs of services excluding housing had shown "tentative signs of rebalancing," according to Powell. With "services less rent of shelter" increasing in December, rising inflation will likely remain a concern for the central bank. Similarly, the rising cost of homes and rent is also expected to decrease in the back half of 2023, according to Powell.

☆ Hoping to win the $1.35 billion Mega Millions jackpot? Take these 3 steps to prepare for any cash windfall
▼ + stars: | 2023-01-11 | by ( Kamaron Mcnair | ) www.cnbc.com time to read: +3 min

Of course, the size of the cash windfall and your own financial situation may completely change how you decide to spend it. But in any case, having the right mindset around extra cash can help you avoid squandering the opportunity when it arises. Sometimes you know a windfall is coming, like if you're expecting a decent tax refund. In any case, here are three steps you can take to prepare for a cash windfall. That can mean having a plan for all or part of your tax refund to go directly to your savings.

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