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☆ Americans have an average of $6,300 in credit card debt: Here's how much you'd pay monthly to clear it in 1, 2 or 3 years
▼ + stars: | 2024-09-25 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

The average American has thousands of dollars of credit card debt. As a whole, Americans hold a record $1.14 trillion in credit card debt as of the second quarter of this year, according to the Federal Reserve Bank of New York's August report. "Credit card debt is easy to get into and hard to get out of," Rossman says. Carrying credit card debt can cost youCarrying a balance from month to month can make your credit card debt more expensive in the long run due to accruing interest. How to pay off your credit card debt

Persons: Ted Rossman, Bankrate, Rossman, it's Organizations: Federal Reserve Bank of New, CNBC Locations: LendingTree

☆ This is the most expensive U.S. city to retire—and it isn't in California or Hawaii
▼ + stars: | 2024-09-21 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

New York City ranks as the priciest city in the U.S. to retire, according to WalletHub's 2024 analysis of the best and worst places to retire. Following NYC, the two Hawaiian destinations that offer the highest quality of life for retirees — Pearl City and Honolulu — tied for second place. The median rental price for a one-bedroom apartment hit $4,500 a month in August, per Zumper's latest data. That's pretty steep compared with the national median rental price of $1,534 for a one-bedroom and $1,915 for a two-bedroom. The median rental price for all bedroom types in Manhattan is $5,000 versus $4,209 in Brooklyn, according to Zumper.

Persons: it's, WalletHub, New York City It's Organizations: Broadway, New York City, —, Honolulu —, U.S . Census Bureau, for Community, Economic Research, Tax, Boston, Boston Seattle Yonkers , New York Santa Rosa , California Bridgeport , Connecticut San, Jersey, Index, Metropolitan Museum of Art, New Yorkers, New York City's Department Locations: Central, New, U.S, — Pearl City, Honolulu, New York Honolulu, Pearl City, Hawaii, Boston Seattle Yonkers , New York Santa Rosa , California Bridgeport , Connecticut, Boston Seattle Yonkers , New York Santa Rosa , California Bridgeport , Connecticut San Francisco, Fremont , California, Jersey City , New Jersey South Burlington, Burlington , Vermont, New York City, New York, Manhattan, Brooklyn, NYC

☆ These 10 U.S. cities offer the highest quality of life for retirees—none are in Florida
▼ + stars: | 2024-09-15 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Hawaii is home to the top two retirement destinations with the highest quality of life, per WalletHub's analysis. While Florida is home to the two best overall U.S. cities for retirees, when it comes to quality of life specifically, the first Florida town on the list comes in at 17th place. "Quality of life metrics focus on aspects like the share of elderly residents, poverty rates among seniors, community support and environmental conditions," WalletHub analyst Chip Lupo tells CNBC Make It. "Together, these metrics help identify cities that offer a supportive, enriching environment for retirees." Here are the top 10 cities in the U.S. to retire for the highest quality of life, according to WalletHub.

Persons: WalletHub, Chip Lupo Organizations: Pearl City, Tax Foundation, for Community, Economic Research, . Census, CNBC Locations: U.S, Hawaii, Honolulu, Florida

☆ Americans lost a record $5.6 billion to crypto scams last year, says FBI—this is the No. 1 kind to watch out for
▼ + stars: | 2024-09-13 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

Financial losses "involving the use of cryptocurrency, such as bitcoin, ether or tether" last year totaled over $5.6 billion, per the agency's 2023 Cryptocurrency Fraud Report . Americans lost billions to cryptocurrency scams in 2023, according to a recent report from the United States Federal Bureau of Investigation. However, investment scams swindled Americans out of $4 billion, the highest loss by crypto crime type last year, per the FBI's report. They'll sometimes communicate with victims for months in order to gain their trust before offering so-called investment advice about cryptocurrency. And even after paying the fees, many victims aren't able to recover the bulk of what they've already lost, per the FBI's report.

Persons: fraudsters, they're, they've Organizations: FBI, United States Federal Bureau of Investigation

☆ Credit expert: You have 'dozens and dozens' of credit scores, but they should all have one thing in common
▼ + stars: | 2024-09-10 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

The idea that you only have one credit score isn't true. In fact, it's one of the biggest credit score myths people consistently fall for, says John Ulzheimer, a credit expert who formerly worked for FICO and Experian. "You literally have dozens and dozens and dozens of credit scores that are not all the same three-digit number," he tells CNBC Make It. Unfortunately, the difference in numbers can cause confusion or even mistrust if you're not aware that you have multiple credit scores, Ulzheimer says. "But really, they're not doing anything wrong, they're just pulling a completely different credit report."

Persons: John Ulzheimer, —, Ulzheimer, they're Organizations: FICO, CNBC

☆ Most Americans worry their savings won’t last through retirement—use this calculator to see how much you’ll need
▼ + stars: | 2024-09-05 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Many Americans worry that the money they've stashed away for retirement may not be enough to sustain them during their post-work years. In fact, nearly 60% of retirees say they're very or somewhat concerned about running out of retirement savings, according to CNBC's August 2024 Your Money retirement survey conducted with SurveyMonkey. A little over 20% of retirees surveyed say they have nothing set aside and 15% say they have less than $50,000 saved. Since retirement can last 25 years or more after you stop working, worries about running out of money are understandable. CNBC Make It's retirement calculator uses factors like your age, income and current retirement savings to give you an estimate of how much you should aim to put away by the time you retire.

Persons: stashed, CNBC's Organizations: SurveyMonkey, CNBC

☆ Roblox went public 3 years ago—here's how much a $1,000 investment would be worth now
▼ + stars: | 2024-08-23 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +3 min

In this photo illustration, the Roblox app seen displayed on a smartphone screen and a Roblox logo in the background. The platform also serves as a digital social hub where users can connect with their friends online and attend virtual events. Roblox has 79.5 million average daily active users as of the second quarter of 2024, according to the company's fiscal Q2 2024 earnings report released on Aug. 1. In fiscal year 2023, Roblox counted 68.4 million daily active users, a majority of them younger than 25. CNBC calculated how much a $1,000 investment in Roblox would be worth now if you had invested in the company both one year ago and when it went public.

Persons: Roblox, Gucci, David Baszucki Organizations: Roblox Studios, NFL, PlayStation, New York Stock Exchange, CNBC Locations: Newzoo, Roblox

☆ The 10 most affordable U.S. states for retirement in 2024: Half are in the South
▼ + stars: | 2024-08-13 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

For the second year in a row, West Virginia is the most affordable state for retirement in the U.S., according to financial services company Bankrate's best and worst states for retirement report, which published last month. The state's affordability ranking comes from "a low cost of living, low property taxes and affordable homeowners insurance," the report said. West Virginia is followed by Mississippi and Indiana, rounding out the top three. Here are the 10 most affordable states in the U.S. for retirement, according to Bankrate:The report's data came from a variety of sources, including the Tax Foundation and the Council for Community and Economic Research. 1 most affordable stateOn average, West Virginia's cost of living is 9% lower than the rest of the country, according to RentCafe.

Persons: MoneyGeek Organizations: Tax Foundation, Council for Community, Economic Research, Social Security, West Locations: lounging, West Virginia, U.S, Mississippi, Indiana

☆ If you invested $1,000 in drugmaker Eli Lilly 10 years ago, here's how much money you'd have now
▼ + stars: | 2024-08-08 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

One of the world's most valuable drug manufacturers by market capitalization reported its second-quarter earnings results Thursday, and they were impressive. Zepbound was approved Nov. 8 by the U.S. Food and Drug Administration as a treatment for weight management and obesity, according to Eli Lilly. In its first full quarter in the U.S. market, Zepbound brought in $517.4 million in revenue, Eli Lilly reported in April. "We just see unbelievable demand, and we're not even trying that hard to promote this drug," Eli Lilly CEO David Ricks told CNBC during a "Squawk Box" interview Thursday. And drug manufacturers such as Eli Lilly and Novo Nordisk, the pharmaceutical company that makes Ozempic and Wegovy, are racing to meet that demand.

Persons: you've, Eli Lilly, it's, Zepbound, we're, David Ricks, Morgan Stanley's Organizations: U.S . Food, Drug Administration, CNBC, Centers for Disease Control, Pew Research Center, Novo Nordisk Locations: U.S, United States

☆ You can pull $1,000 from your retirement savings penalty-free—but don't make it a habit, says retirement expert
▼ + stars: | 2024-08-06 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

The majority of Americans wouldn't be able to cover an unforeseen $1,000 expense with money from their own savings, according to Bankrate's 2024 emergency savings report. Generally, you'll face a 10% penalty for withdrawing money from retirement savings before you reach the age of 59½. For one, you can only make one $1,000 withdrawal per year. But if you don't replace that amount in your retirement account in full or through regular deposits within three years, you won't be able to make another $1,000 withdrawal during that repayment period. And you'll need to self-certify in writing with your retirement plan administrator that you need the money for an emergency.

Persons: wouldn't, Anne Lester, FOMO, Lester

☆ Here’s how much money Americans in their 50s have in their 401(k)s
▼ + stars: | 2024-07-31 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

The average American believes they'll need to save $1.8 million for their post-work years, according to Charles Schwab's "2024 401(k) Participant Study." However, most Americans in their 50s have much less than that stashed away for retirement. Here's how much Americans have in their 401(k)s by age, according to Fidelity. And that's just among people who have 401(k) retirement investment accounts. "Everyday expenses continue to be the top barrier to saving more for retirement, and some older Americans say that they never expect to retire," Venkateswaran says.

Persons: Charles Schwab's, Indira Venkateswaran, AARP's, Venkateswaran Organizations: CNBC, Fidelity Investments, Fidelity, AARP

☆ The 10 worst states to retire in the U.S.—No. 1 isn’t California or New York
▼ + stars: | 2024-07-30 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

While the best state to retire in the U.S. is also one of the smallest in the country, the worst state to retire is the largest. Alaska ranks as the worst state in the U.S. to retire for the third year in a row, according to Bankrate's study of the best states to retire in 2024. If you're looking for space to spread out during retirement, Alaska is the largest U.S. state by land area. However, it state ranked poorly across a number of Bankrate's measurements. Here are the 10 worst states to retire, according to Bankrate.

Persons: Bankrate Organizations: Council for Community, Economic Research, U.S . Census Bureau, Tax Foundation, National Oceanic, Atmospheric Administration Locations: U.S, Alaska

☆ This is the best state to retire in 2024—it's not Florida or California
▼ + stars: | 2024-07-28 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

The best state to retire in 2024 is also one of the smallest in the U.S.At around 96 miles long and 35 miles wide, Delaware ranks as the No. 1 state to retire this year, according to Bankrate's list of the best states to retire for 2024. Last year, it placed second behind Iowa on Bankrate's list. To compile the ranking, Bankrate analyzed data from several sources, including the Tax Foundation, the Council for Community and Economic Research, the U.S. Census Bureau and the National Oceanic and Atmospheric Administration. Bankrate evaluated all 50 states across five weighted categories:Affordability (40%): Includes factors such as cost of living and state and local sales tax ratesIncludes factors such as cost of living and state and local sales tax rates Overall well-being (25%) : Looks at factors such as the number of arts and entertainment centers and the number of adults over 62: Looks at factors such as the number of arts and entertainment centers and the number of adults over 62 Quality and cost of health care (20%): Considers factors such as the number of health-care establishments and the cost of health careConsiders factors such as the number of health-care establishments and the cost of health care Weather (10%): Evaluates the average annual temperature and average number of tornado strikes, earthquakes and hurricane landfallsEvaluates the average annual temperature and average number of tornado strikes, earthquakes and hurricane landfalls Crime (5%): Includes factors such as the number of violent crimes and property crimesHere are the 10 best states to retire in 2024, according to Bankrate.

Persons: Bankrate Organizations: Iowa, Tax Foundation, for Community, Economic Research, U.S . Census, National Oceanic, Atmospheric Administration Locations: U.S, Delaware

☆ Meet ‘X,’ the human voice behind Spotify’s AI DJ: ‘It’s a digitized version of me’
▼ + stars: | 2024-07-27 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +7 min

Xavier Jernigan, Spotify's head of cultural partnerships and the voice of the company's AI DJIf you think Spotify's AI DJ sounds more human than robot, there's a reason for that: It's modeled after an actual person, Xavier "X" Jernigan. Spotify rolled out its AI DJ product in the U.S. and Canada on February 22, 2023. So, they approached him to see if he would be interested in becoming a voice model for the AI DJ. Training the AI DJSpotify uses Sonantic, a dynamic text-to-speech AI voice platform the company acquired in 2022, and OpenAI technologies to power its AI DJ. Jernigan says being embraced globally as the voice of Spotify's AI DJ has been a humbling experience.

Persons: Xavier Jernigan, It's, Xavier, DJ X, Jernigan, Spotify's, Kendrick Lamar, Drake Organizations: Spotify, CNBC, DJ, Def Jam, Republic Records, Florida, Mechanical University, New York University Locations: U.S, Canada, New, Australia, New Zealand, Europe, Asia, Latin America, Africa, London, Sydney

☆ Setting aside $10 a day could help you save over $1 million for retirement—but you have to start early
▼ + stars: | 2024-07-25 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Although the thought of saving $1 million or more by the time you reach retirement age may seem overwhelming, the process doesn't have to be — especially if you start early. Instead of focusing on the total, try paying attention to your savings rate, which is the percentage of your annual pre-tax income you're contributing to your retirement investment account. But your savings rate is something you can control. Fidelity recommends a savings rate of at least 15%, inclusive of any employer match. To that point, you can begin your retirement savings journey by setting aside just $10 a day, or $70 a week.

Persons: it's, James Royal Organizations: Fidelity, CNBC

☆ Steve Jobs describes tech similar to AI chatbots in newly released clip from 1983—plus 2 more times his predictions came true
▼ + stars: | 2024-07-20 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

From the Macintosh computer to the iPhone, Apple's late co-founder Steve Jobs was widely considered an innovative visionary who helped revolutionize the way we use technology in our everyday lives. Now, a newly released clip from 1983 reveals Jobs may have been more ahead of his time than we knew. The Steve Jobs Archive's latest digital exhibit features never before seen video footage of a presentation given by the tech legend at the 1983 International Design Conference. In the clip, Jobs said that while he enjoyed reading books by Aristotle and Plato, he wished he could ask them questions. The machine would be able to generate responses to questions similar to how the real-life person may respond.

Persons: Steve Jobs, Jobs, Aristotle, Plato

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email29-year-old quit corporate job to sell flowers — now she brings in up to $16,000 a monthVienna Hintze, 29, quit her corporate job in 2020 and started her own marketing agency in NYC. But after a cross-country move to Los Angeles, CA, she found herself wishing for a job that would give her more freedom from a 9 to 5 desk job. She started Main Street Flower Truck in August 2023, and in less than a year it has brought in over $40,000 selling flowers at pop-up events around LA. In May 2024, the business brought in about $16,000. 09:12 2 hours ago

Organizations: Vienna Hintze Locations: Vienna, NYC, Los Angeles , CA, LA

About a week later, she came up with the idea to start her own flower truck business, Main Street Flower Truck. Hintze launched her business, Main Street Flower Truck, in August 2023. She decided to name her company after the street where she grew up, Main Street. After the family pulled over to inspect the truck, Hintze wrote down the number on the for-sale sign. By February, she made the choice to pour all of her time and energy into growing her flower truck business.

Persons: Vienna Hintze, Hintze, Tristan Pelletier, Fiona, they've, That's, Hintze hasn't, she's, I'm Organizations: CNBC, Syracuse University, Free People, Universal Music Locations: New York City, Vienna, Los Angeles, Long Island , New York, Ojai, Ventura County, L.A, bouquets

☆ National French Fry Day: McDonald’s, Wendy’s and 6 other places to get free or discounted fries
▼ + stars: | 2024-07-12 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

National French Fry is on Friday, July 12, and plenty of popular restaurant chains are offering freebies and deals to honor the holiday. Whether they're crinkle cut or curly, French fries are a favorite across the nation. The average American consumes around 34 pounds of French fries a year, according to the National Oceanic and Atmospheric Administration. The origin of French fries is unclear, despite the name, according to Britannica. President Thomas Jefferson is often credited with introducing the dish to Americans after returning from France with a recipe for "deep-fried potatoes in small cuttings," per the Thomas Jefferson Foundation.

Persons: Fry, Thomas Jefferson, Thomas Organizations: National Oceanic, Atmospheric Administration, Thomas Jefferson Foundation Locations: France, Smashburger

☆ Here's how much money Americans in their 30s have in their 401(k)s
▼ + stars: | 2024-07-07 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

People in their 30s may be a long way off from their retirement savings goals, but they have plenty of time to get on track. On average, Americans say they'll need around $1.46 million saved up to retire comfortably, according to Northwestern Mutual's "2024 Planning and Progress" study. And for millennials, the majority of whom are in their 30s, that number is a little over $1.6 million. Here's how much Americans have in their 401(k)s by age, according to Fidelity. How to get your retirement savings on track in your 30s

Organizations: Fidelity Investments, Fidelity Locations: Northwestern

☆ How much you need to save each month to retire with $1.46 million on a $50,000 salary
▼ + stars: | 2024-07-03 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

The amount of money Americans think they'll need to spend their post-work years in comfort keeps rising. On average, Americans say they'll need around $1.46 million to retire comfortably, according to Northwestern Mutual's 2024 Planning and Progress study. And younger generations think they'll need even more. Gen Z, defined as people between the ages of 18 and 27, say they'll need around $1.63 million, according to the study. Millennials, defined as those 28 to 43, expect they'll need $1.65 million.

Persons: Aditi Javeri Gokhale, Northwestern Organizations: CNBC Locations: Northwestern

☆ Mark Cuban is offloading a portion of his NFTs—one already sold for over $30,000
▼ + stars: | 2024-07-01 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

For the first time in two years, Mark Cuban is selling a portion of his collection of non-fungible tokens — and he's already made a little over $39,000. Most notably, he sold his Pudgy Penguin NFT for $30,950. Cuban could rake in even more money for his digital collectibles. Cuban has been a longtime collector of the virtual tokens and still has nearly 1,600 items in his cryptocurrency portfolio. Like other physical collectibles, such as comic books or postage stamps, NFTs may hold sentimental value to the collector.

Persons: Mark Cuban, NFT, NFTs, they're Organizations: ETH, Cuban, CNBC Locations: OpenSea

☆ Gen X says they'll need more than $1.5 million to retire comfortably—but most have less than 5% of that saved
▼ + stars: | 2024-06-29 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

For Gen Xers in their 40s and 50s, retirement may be right around the corner. On average, Gen Xers believe they will need around $1.56 million to retire comfortably, according to Northwestern Mutual's 2024 Planning and Progress study. Retirement saving obstaclesA few factors have prevented members of Gen X from setting aside more money for retirement. "When Gen Xers started working, they had to choose whether they wanted to enroll in their company's 401(k) plan," she tells CNBC Make It. How Gen Xers can boost their retirement savings

Persons: Xers, Gen Xers, that's, Gen, Gen Zers, Anne Lester Organizations: Allianz Life, CNBC, Fidelity Investments Locations: Northwestern

☆ OpenAI's CTO says AI tools can 'expand our intelligence,' but may cause some creative jobs to disappear
▼ + stars: | 2024-06-26 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

OpenAI's chief technology officer Mira Murati says AI may help expand humans' creativity — but the technology could wipe out some creative jobs as well. On June 19, Dartmouth College's school of engineering held a discussion with Murati about the potential effects OpenAI's tools, such as ChatGPT, may have on different industries. OpenAI's tools will "lower the barrier for anyone to think of themselves as creative," she added. However, she also said AI tools could have a potentially disruptive impact on creative industries. "Some creative jobs maybe will go away, but maybe they shouldn't have been there in the first place if the content that comes out of it is not very high quality," she said.

Persons: Mira Murati Organizations: Dartmouth

☆ Self-made millionaire: How I knew my wife and I were financially compatible—and the No. 1 red flag you shouldn't ignore
▼ + stars: | 2024-06-25 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

On his "I Will Teach You To Be Rich" podcast, self-made millionaire Ramit Sethi helps numerous couples figure out how to jointly navigate money challenges that may arise within their relationships. And when it comes to talking to your partner about money, there's one major red flag you shouldn't ignore. "If one partner will not talk about money, that is the most dire of circumstances," Sethi tells CNBC Make It. "Money determines many things, like where you're going to live, what you're going to eat, how often you're going out or if you will have children," he says. But whether you're married, casually dating or somewhere in-between, discussing finances with your partner can be easier said than done.

Persons: Rich, Ramit Sethi, Sethi, Cassandra, Here's Organizations: CNBC

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