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With rising costs, stagnant salaries, and the pressures of social media, financial anxiety among young adults is at an all-time high. According to Time Magazine, there is growing evidence linking financial anxiety to negative physical and mental health outcomes. As a financial planner, I have five ways young adults can overcome their financial anxiety. One way to reduce financial anxiety about the future is by planning ahead. We see our peers going on trips or buying things we can't afford, which only feeds into our financial anxiety.

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You don't need to know exactly how you'll use your retirement savings — instead, focus on timing. I recently spoke with my financial planner, Liz Schieck, about investing and saving for retirement. I asked her what she's hearing from clients, particularly millennials and Gen Z clients, about best practices. Current trends around investing and retirementMany new clients at Schieck's firm first reach out because they want to discuss saving for retirement. Schieck believes that you don't always have to know what you're saving for.

Persons: Liz Schieck, —, Schieck, you've, they're, doesn't Organizations: Service

For Love & Money is a column from Business Insider answering your relationship and money questions. Write to For Love & Money using this Google form. Buying them all new shoes doesn't feel optional to me, but it does to my partner, who is still pretending we're surviving off only one income. Your partner doesn't want to spend just to spend, and I don't think you want to save just to save. Write to For Love & Money using this Google form .

Persons: isn't, —, I'm, it's, we're, they're, doesn't Organizations: Business, Service

My husband and I spend money in different ways, but we worked to set our financial goals together. We have our retirement and investments with our favorite financial services company, where we occasionally get advice from our financial advisor. Most of our expenses are debited from this pool of money, set up on auto-pay, of course. We have each other's phone codes, email passwords, and the like, so it was only natural that we both have access to all our money accounts, too. We both have access to all accounts, all credit cards, retirement accounts, and 529 plans, passwords, and all.

Persons: —, I'm, spender, that's, doesn't Organizations: Service, Costco, Walmart Locations: Napa, Florida, incidentals

But investing in the stock market should be boring rather than exciting. While some hands-on traders approach betting on the stock market similarly to betting money on sports, the truth is they should have very little in common. Compared to sports betting, investing in the stock market should be "non-adrenaline focused," Egan said. While an explosion of confetti might make trading stocks more entertaining, investing in the stock market should be boring. Historically, the average stock market return is about 10% each year.

Persons: —, Dan Egan, Egan, Robinhood, doesn't, you'll, Ally Invest Organizations: Sports, Service, University of California, University of Southern, SoFi, Ally Locations: Massachusetts, Los Angeles, University of Southern California

☆ Bullish on credit across the board with strength in economy and earnings: Marathon Asset's Richards
▼ + stars: | 2024-10-01 | 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 EmailBullish on credit across the board with strength in economy and earnings: Marathon Asset's RichardsBruce Richards, Marathon Asset Management CEO, joins 'Money Movers' to discuss what opportunities have opened up now that the Fed has cut rates, where Richards is more bullish on credit, and much more.

Persons: Asset's Richards Bruce Richards, Richards Organizations: Marathon Asset Management

For Love & Money is a column from Business Insider answering your relationship and money questions. Write to For Love & Money using this Google form. I imagine your wife doesn't view it as a tragedy. If you can't live this way, then something has to change, and your wife must open her heart to this. Write to For Love & Money using this Google form .

Persons: —, she's, it's, we're, I've, you'll, doesn't Organizations: Business, Service

When my dad died, I realized life insurance was a priority, but it doesn't cover everything I need. After that ordeal, I decided to up my life insurance to ensure that my family wouldn't face the same troubles if I died unexpectedly. It was important to me that — on top of paying funeral costs — my life insurance policy also covered our home's mortgage. Unlike critical illness insurance, cancer insurance only covers costs associated with cancer. While different health insurance plans offer different treatment coverages, Aflac's cancer insurance offers supplemental coverage that covers several treatment options.

Persons: I'm, doesn't, Samantha Chavarria Samantha Chavarria, she's, Read Organizations: Cancer, Aflac, Ambulance, Houstonia, Twitter Locations: Latina, Houston

Mortgage rates are expected to drop, which means that it might be a good time to buy a second home. There's no perfect time to buy a home, so I'm more concerned with whether it feels like a good time. So, while mortgage rates are expected to go down this year for primary homes, mortgage rates for second homes might not fall as equally. Still, the Fed rate cut is already impacting mortgage rates, which could benefit second-home mortgages, as well. Barring a big windfall of cash allowing you to buy something outright, there may never be a "perfect" time to buy a home.

Persons: Grams, I'm, Grams —, doesn't, Cheryl Lock Cheryl Lock, Read Organizations: USA, Forbes, MarketWatch, Twitter, LinkedIn Locations: Denver

Take a look below at the stocks we found that have formed golden cross patterns, according to FactSet data. McDonald's McDonald's made the screen. Goldman Sachs on Monday reiterated its neutral rating but lifted its price target on McDonald's shares by $41 to $325, which implies 8.7% potential upside. Cisco Systems Cisco Systems shares are up about 3.8% this year and made the cut. Analysts polled by FactSet have an average price target of $83.79, which forecasts less than 1% upside for shares according to Monday's close.

Persons: Dow, McDonald's McDonald's, McDonald's, Goldman Sachs, Christine Cho, Pierre Ferragu, Monday's, Wells, Wells Fargo Organizations: McDonald's, Cisco Systems, Nasdaq, Cisco Systems Cisco Systems, CF Industries, FactSet Locations: Monday's, Wells Fargo

For Love & Money is a column from Business Insider answering your relationship and money questions. Write to For Love & Money using this Google form. My great-grandparents passed down a large fortune to their kids, who passed it down to my parents when they died. Now, my parents have their share of the family inheritance. Write to For Love & Money using this Google form .

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The Federal Reserve cut interest rates in its September meeting. With inflation starting to level off and the Fed cutting interest rates in its September 18 meeting, many experts believe rates have only just started dropping. After all, lower rates help consumers save when they borrow money, but they also translate to lower rates on savings accounts and money market accounts. For example, borrowing money at lower rates can make it easier to purchase a home, finance a car, or start a business. Lower interest rates can also help potential homebuyers buy a pricier home, since less of the mortgage payment they qualify for goes toward interest each month.

Persons: It's, Jennifer Beeston, it's, Beeston, Stephen Kates, Cliff Ambrose, Ambrose, Lawrence D, doesn't, Holly Johnson Freelance, Holly Johnson, Johnson Organizations: Federal Reserve, Savings, Apex Wealth, U.S . News, Club Locations: RetireGuide, U.S

The Fed cut interest rates in its September meeting, which is the first cut in years. Experts say not to rush to action with your cash savings — but start doing some research. But, the Fed finally cut interest rates by 50 basis points at its meeting on September 18 — the first rate cut since March 2020. This is true now, but it will be just as true if the Fed continues to drop the federal funds rate in the future. However, interest rate increases could lead to having to sell the note on the secondary market at a loss.

Persons: Robert Farrington, Paul Miller, Andrew Crowell, D.A, Davidson, Joseph DiSanto, DiSanto, doesn't, Holly Johnson Freelance, Holly Johnson, Johnson Organizations: Federal Reserve, Fed, The, Investor, Miller & Company, Barclays, U.S . News, Club Locations: U.S

Lower interest rates may impact your investment portfolio following the Fed's first rate cut. "They get spooked by something like policy changes and sell out of a diversified investment portfolio. "Generally, lower interest rates boost the economy as lending gets cheaper for consumers and businesses, " says Eckles. However, as interest rates fall, the attractiveness of these cash investments declines. The inverse relationship between bond prices and interest rates means that as rates fall, bond prices rise, providing another return component.

Persons: Banks, Goldman Sachs, JP Morgan, Bakkum, Pam Krueger, annualized, Jaime Eckles, Plante Moran, doesn't, We've, Krueger, Cash Organizations: Federal Reserve

☆ 2 things millennials tend to spend way too much money on, according to financial planners
▼ + stars: | 2024-09-13 | by ( Business Insider | Stephanie Hallett | ) www.businessinsider.com time to read: +5 min

Financial planners say millennials have a few not-so-great spending habits. According to financial planners, there are two things millennials overspend on way too often. AdvertisementFinancial planners say it's OK to spend your money on these things, but it becomes a problem when it doesn't fit into your budget or you're not meeting your financial goals. "I think most people, not just millennials, don't really have a budget and don't know how much they spend. This will help you figure out your discretionary spending budget once you've covered your priorities.

Persons: —, they've, Clari Nolet, Hewins, millennials, Nolet, doesn't, Asad Gourani, you've, lattes, Gourani Organizations: Service, AG Wealth Management

☆ A 30 year old with a $1 million net worth explains the 4 steps that got her there
▼ + stars: | 2024-09-12 | by ( Business Insider | Stephanie Hallett | ) www.businessinsider.com time to read: +8 min

She also traveled the world for two years and learned to make money without a day job. AdvertisementShortly after returning from Europe, Tseung began investing and using her skills to build multiple sources of passive income. She now teaches others how to manage their finances, invest, and build passive income through on her blog and her accounts on YouTube, TikTok, and Instagram. This book taught her to make money work for her instead of working for money. For me, it's to continue being impactful and building my brand, teaching people how to build passive income and become financially free.

Persons: Sharon Tseung didn't, —, Sharon Tseung, Tseung, doesn't, Timothy Ferriss, Rich Dad, Robert T, it's Organizations: Service, University of California, Business, YouTube Locations: Berkeley, Europe

☆ 3 lessons a landlord learned from his parents that helped him buy 5 properties by age 27
▼ + stars: | 2024-09-11 | by ( Business Insider | Stephanie Hallett | ) www.businessinsider.com time to read: +5 min

John O'Reilly learned many important lessons from watching his parents work hard. These lessons stuck with him and helped him save enough to buy five rental properties. AdvertisementBelow are three big lessons he learned from his parents that helped him save enough to get started as a landlord. He learned about delayed gratificationOne of the most important things O'Reilly learned from his family was the idea of delayed gratification. "Eventually, I stopped asking them to buy me things and rather asked for tasks to earn money."

Persons: John O'Reilly, —, he's, O'Reilly, didn't, Businss, doesn't Organizations: Service Locations: Syracuse , New York

Financial planner Nadine Burns says with the right strategy, you can reach your retirement goals. Below, Burns shares the strategy she uses to help her clients achieve their retirement goals. Understand your net worthBurns says understanding your net worth — and tracking it throughout your working years — is the first step to retiring comfortably. Your net worth should rise throughout your working years and allow you to retire with more assets than debts. To find your net worth, add up all of your assets then subtract your debts.

Persons: Nadine Burns, It's, —, Burns, you've, doesn't Organizations: Service, Social Security, Invest, IRA

But even when her income rose, she still felt broke until she changed the way she managed money. At that time, she was working as a hairstylist in Minneapolis, making little more than minimum wage and struggling to pay her bills. One of the first things that a lot of business owners don't realize is how important it can be to have a set salary. Their overall goal was to have enough of an emergency fund that could cover both their living expenses and their business expenses for a year. But once all the amounts owed became clear, they were able to set goals to pay off each debt.

Persons: Rachel Pedersen, —, Pedersen, " Pedersen, Poul Pedersen, doesn't, there's Organizations: Service Locations: Dakota, Minneapolis

Leo and Faith Jean-Louis were paying about $2,200 in minimum monthly payments towards their debt. In order to maintain their debt payments, the couple had a minimum monthly payment of $2,200 between the two of them. At that rate, it would take them 15 years and cost them $125,000 in additional interest to pay off their debt. After returning from their honeymoon in Greece, they decided to tackle their debt and pay it off as soon as possible. Leo and Faith didn't want their kids to start their lives off financially behind or in debt like they did.

Persons: Leo, Faith Jean, Louis, —, Leo Jean, Roth, Faith didn't, Faith, hadn't, doesn't, Faith babysat, couldn't Organizations: Service, Ramsey Locations: Greece

It's never too early to start thinking about saving for college, and a 529 plan can help with that. A 529 plan is great for saving on taxes, but its lack of flexibility makes it less valuable to me. She's had a 529 plan since she was only a few weeks old. Your contributions can grow tax-free in a 529 plan. This is a fantastic benefit that can give families the ability to diversify the taxability of accounts for a 529 plan beneficiary in the future.

Persons: It's, —, She's, Roth, doesn't Organizations: Service

My wife and I just got married, but we've been open about our finances our whole relationship. For some expenses like retirement planning, keeping our finances separate makes sense. That means we're able to work toward our financial goals of finding our forever home, paying off any student loan debt, and allocating funds for things we love, like vacations and dinners at our favorite restaurants. We're planning our retirements separatelyAlthough we are a couple, we keep some aspects of our finances separate. SmartAsset's free tool matches you with up to three fiduciary financial advisors that serve your area in minutes.

Persons: we've, —, Roth, it's, we're, doesn't Organizations: Service, Urban Outfitters

☆ People making $200,000 or more are flocking to these 10 states: Florida is No. 1
▼ + stars: | 2024-08-12 | by ( Jade Thomas | ) www.cnbc.com time to read: +2 min

Florida had the biggest net gain of high-earning households, according to a recent SmartAsset study . Using $200,000 of adjusted gross income as a threshold, the study examined the number of high-income households moving into and out of each state to determine the net inflow. More high-income households have left California and New York than moved in, but some states saw the opposite. "I would say that's a little unique, that these smaller-population states are really pulling their weight in attracting or pulling above their weight in attracting high-earning households," DeJohn says. Here are the states that saw the biggest net inflow of high-earning households:

Persons: SmartAsset, Jaclyn DeJohn, SmartAsset's, DeJohn, David Tinsley, Charlie Dougherty, Dougherty, There's Organizations: New Hampshire —, Bank of America Institute, Wells, Wells Fargo Economics Group Locations: North, South Carolina, Arizona . Florida, California, New York, Florida , Texas , Tennessee , Nevada, New Hampshire, Southern, Wells Fargo, Texas, Florida, Area, Los Angeles, Portland, Seattle, Austin, , Texas, United States, Tinsley

For Love & Money is a column from Business Insider answering your relationship and money questions. This week, a reader's dad died and left all his money to one sibling. Dear For Love & Money,My dad died almost two years ago and left my younger brother and me here. I know my dad caused this situation, but my brother doesn't have to handle it like that. Maybe your dad felt bad for your brother because he always secretly felt you had more promise.

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☆ There's a hidden risk lurking for AI stocks in 2025
▼ + stars: | 2024-08-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +6 min

Depreciation costs could lead to AI stock price declines and valuation scrutiny, according to Baird's Ted Mortonson. AdvertisementThe lurking problem is that the useful lifetime of AI GPU chips can be a lot shorter than many expect, especially as AI chips go through an ever-accelerating innovation cycle, leading to higher-than-expected depreciation expenses that ultimately drag down profits. For example, the bank expects Alphabet to record $28 billion in depreciation costs in 2026, which is 24% more than current consensus estimates of $22.6 billion. AdvertisementBut even that has its limits because of how quickly Nvidia is releasing new GPU chips. And for Mortonson, it all comes back to the return on invested AI capital.

Persons: Ted Mortonson, —, doesn't, outlays, Ross Sandler, Baird, Morton, Sandler, Mortonson, there's Organizations: Barclays, Service, Companies, Nvidia, Business

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