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☆ A retiree says $1,620 monthly Social Security isn't enough to live on, but she's worried about draining her savings too early
▼ + stars: | 2024-11-03 | by ( Allie Kelly | ) www.businessinsider.com time to read: +6 min

Many Americans face retirement woes, lacking adequate savings and relying on Social Security. McCoy said she began receiving monthly Social Security Disability checks about 10 years ago, which are currently $1,620. Despite their best savings efforts, McCoy said medical bills and a high cost of living depleted her household finances. "But to live on Social Security — which is coming very quickly for both of us — is scary." A fifth of US adults over 50 reported having no retirement savings, and Social Security often isn't enough to cover the full cost of essentials.

Persons: Elizabeth McCoy, —, McCoy, She's, Elizabeth McCoy McCoy, Gen Zers, she's, you've Organizations: Social Security, Service, Social Locations: Indiana

☆ Passing down an inheritance? Here's how to handle these 4 complicated assets — including houses and retirement funds
▼ + stars: | 2024-11-01 | by ( Christine Ji | ) www.businessinsider.com time to read: +6 min

Beware of legal and tax complications for common assets such as houses and retirement funds. You can also liquidate the business, which will convert business assets into cash. Like a family business, these assets might have a lot of sentimental value but might not be easily passed down. Donating collections can be an effective way to circumvent capital-gains and estate taxes. Confront disagreements about assets like a house early on, and provide details about complex assets like a family business.

Persons: —, who've, Snow, who's, They'll, Roth, We've Organizations: Service, Business, Cresset

☆ Passing down an inheritance? Here's how to handle these 4 complicated assets — including houses and retirement funds.
▼ + stars: | 2024-11-01 | by ( Christine Ji | ) www.businessinsider.com time to read: +6 min

A way to get around this is to split the overall estate balance equally instead of divvying up individual assets, Snow recommended. You can also liquidate the business, which will convert business assets into cash quickly. AdvertisementSimilar to a family business, these assets might hold a lot of sentimental value but might not be easily passed down. Donating collections can be an effective way to circumvent capital gains and estate taxes. Confront potential disagreements over assets like a house early on, and make sure to provide details on complex assets like a family business.

Persons: —, Snow, who's, They'll, Roth, We've Organizations: Service, Business, Cresset

☆ IRS announces 401(k) contribution limits for 2025
▼ + stars: | 2024-11-01 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

The IRS has announced new 401(k) contribution limits for 2025. The change applies to workplace plans, including 401(k)s, 403(b)s, and most 457 plans, along with the federal Thrift Savings Plan. The IRS also unveiled 2025 catch-up contribution limits for savers age 50 and older, individual retirement account savings limits and higher income thresholds for Roth IRA contributions. More from Personal Finance:IRS announces new federal income tax brackets for 2025The IRS unveils higher capital gains tax brackets for 2025IRS announces bigger estate and gift tax exemption for 2025Starting in 2025, the 401(k) catch-up contribution limit will remain at $7,500 for savers 50 and older. Both amounts are above the $23,500 deferral limit for 2025.

Persons: Roth Organizations: IRS, federal, Savings, Finance, Secure

For 2025, the total contribution limit to Roth IRAs remains $7,000, unchanged from 2024, according to the IRS' announcement Friday. The IRS has unveiled the Roth individual retirement account contribution and income limits for 2025. Taxpayers using either of those filing statuses can make a full Roth contribution if their MAGI is under $150,000. For married couples filing jointly, the income phaseout range increased to between $236,000 and $246,000, up from between $230,000 and $240,000. Married couples filing jointly can make a full Roth contribution if their MAGI is under $236,000.

Persons: Roth Organizations: IRS, IRA

☆ You can contribute even more to your 401(k) in 2025—here's what to know
▼ + stars: | 2024-11-01 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +1 min

You can put even more of your pre-tax dollars toward saving for retirement in 2025. The Internal Revenue Service announced the new 401(k) contribution limits for 2025 on Friday. Individuals can contribute up to $23,500 to employer-sponsored retirement accounts including 401(k)s, 403(b)s, most 457 plans and federal Thrift Savings Plans. People in that age range can contribute an additional $11,250 in 2025 to hit a maximum contribution of $34,750. If you don't have access to a 401(k) or want an additional retirement account, savers can contribute up to $7,000 to an individual retirement account in 2025, plus an additional $1,000 for those ages 50 and older, the same limits as in 2024.

Persons: Roth Organizations: Internal Revenue Service, Savings, People

☆ IRS unveils IRA contribution limits for 2025
▼ + stars: | 2024-11-01 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: 1 min

The IRS has unveiled the individual retirement contribution limits for 2025. In its announcement Friday, the agency said the 2025 IRA contribution limit will be $7,000, unchanged from 2024. IRA catch-up contributions for investors age 50 and older will also stay the same, at $1,000. The IRS also unveiled new 401(k) contribution limits, 401(k) catch-up limits for savers age 50 and older, and bigger income thresholds for Roth IRA contributions for 2025. More from Personal Finance:IRS announces new federal income tax brackets for 2025The IRS unveils higher capital gains tax brackets for 2025IRS announces bigger estate and gift tax exemption for 2025

Persons: Roth Organizations: IRS, Finance

☆ Amazon shares jump 7%, approach record after earnings beat
▼ + stars: | 2024-11-01 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

Amazon shares jumped 7% on Friday and neared an all-time high after the company reported better-than-expected earnings, driven by growth in its cloud computing and advertising businesses. Revenue increased 11% in the quarter to $158.9 billion, topping the $157.2 billion estimate of analysts surveyed by LSEG. Sales in the Amazon Web Services cloud business increased 19% to $27.4 billion, coming in just shy of analysts' estimates, according to StreetAccount. That was an acceleration from 12% a year ago, but trailed growth at rivals Microsoft and Google , where cloud revenue increased 33% and 35%, respectively. The midpoint of that range, $185 billion, fell short of the average analyst estimate of $186.2 billion, according to LSEG.

Persons: Roth MKM, Brian Olsavsky, Andy Jassy, Jassy, we're, — CNBC's Ari Levy Organizations: Amazon, Revenue, LSEG, Services, Microsoft, Google, Nvidia, Meta

☆ What the new 401(k) limits and other changes mean for your retirement
▼ + stars: | 2024-11-01 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +4 min

The new contribution limit for 401(k)s and other workplace retirement plans in 2025 will be $23,500, up from $23,000 currently, the Internal Revenue Service said Friday. The catch-up contribution limit will remain the same at $7,500. Now for an ounce of reality: Most people do not max out their 401(k) savings, whatever their applicable contribution limit. Higher income thresholds for IRAsThe IRS did not increase the contribution limits for individual retirement accounts, known as IRAs. If you’re married and filing jointly and you personally are covered by a workplace retirement plan, your joint modified AGI must not exceed $146,000, up from $143,000.

Persons: CNN —, —, “, Roth IRAs, Roth, you’re Organizations: CNN, Internal Revenue Service, IRS, Vanguard, America, Social, Fidelity

☆ IRS announces 401(k) catch-up contributions for 2025
▼ + stars: | 2024-11-01 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

The IRS has announced new 401(k) catch-up contribution limits for 2025. But catch-up contributions for savers age 50 and older will remain unchanged at $7,500. The IRS also unveiled individual retirement account limits and bigger income thresholds for Roth IRA contributions for 2025. More from Personal Finance:IRS announces new federal income tax brackets for 2025The IRS unveils higher capital gains tax brackets for 2025IRS announces bigger estate and gift tax exemption for 2025Starting in 2025, 401(k) catch-up contributions will be even higher for savers age 60 to 63, thanks to a change enacted via Secure 2.0. The IRS announcement comes roughly one week after the agency unveiled dozens of inflation adjustments for 2025, including federal income tax brackets, higher capital gains brackets, a bigger estate and gift tax exemption, changes to eligibility for the earned income tax credit, among others.

Persons: Roth Organizations: IRS, federal, Savings, Finance, Secure

• US officials are heading to the Middle East in a renewed push to resolve the conflicts in Gaza and Lebanon, and to deter an Iranian response to Israel’s strikes last week. The White House said Iran should not respond, but the US was ready to assist Israel’s defense. • Israeli strikes near the historic city of Baalbek killed at least 19 people, Lebanese authorities said. • Aid entering Gaza has sunk to the lowest level since the war began last year, UN data shows. Only 836 aid trucks entered the enclave so far in October, far short of the pre-war average of 500 trucks per day.

Persons: ”, Israel Organizations: CNN Locations: Gaza, Lebanon, Israel, Iran, Baalbek

☆ Video: This rare dime with an error sold for $506,250 at auction
▼ + stars: | 2024-10-31 | by ( Jeremy Roth | ) edition.cnn.com time to read: 1 min

How relevant is this ad to you? Video player was slow to load content Video content never loaded Ad froze or did not finish loading Video content did not start after ad Audio on ad was too loud Other issues

☆ 'Inflation is like a regressive tax,' economist says — only one group can 'easily afford' holiday spending this year
▼ + stars: | 2024-10-30 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

About half, or 52%, of shoppers with incomes of $100,000 or more believe they can "easily afford" holiday expenses in 2024, according to Morning Consult, a survey research firm. To that point, 33% of those who earn $50,000 to $99,900 said they can afford holiday spending. Meanwhile, 18% of respondents who earn below $50,000 annually can sustain the costs, the report found. "Inflation is like a regressive tax," said Sofia Baig, economist at Morning Consult. "It hurts lower income people more than higher income people because it takes out a larger chunk of their wallet."

Persons: Roth, Sofia Baig Organizations: Finance, Morning Locations: U.S

☆ Inflation is cooling, yet many Americans are still living paycheck to paycheck
▼ + stars: | 2024-10-30 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

Blueflames | Getty ImagesNecessities are 'swallowing up' incomeThe share of households living paycheck to paycheck has grown since 2019, according to the firm. Around 35% of households earning less than $50,000 per year are living paycheck to paycheck, up from 32% in 2019. Higher-income households also report struggling, with around 20% of households with more than $150,000 living paycheck to paycheck, the research found. Inflation is a top issue with voters as the November election approaches, according to an October CNBC All-America Economic Survey. People who rent are among those feeling the biggest impact of inflation, Traphagen said.

Persons: It's, David Tinsley, Tinsley, Jamie Grill, Peter Traphagen, Traphagen, Nick Roth, Roth Organizations: CNBC, America Economic Survey, Bank of America Institute, Labor Department, Wealth, Foster & Motley Locations: U.S, Oradell , New Jersey, Cincinnati

☆ Meta stock dropping after earnings 'wrong reaction', says Wedbush's Dan Ives
▼ + stars: | 2024-10-30 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMeta stock dropping after earnings 'wrong reaction', says Wedbush's Dan IvesDan Ives, Wedbush managing director, and Rohit Kulkarni, Roth MKM managing director, to talk Meta and Microsoft earnings.

Persons: Wedbush's Dan Ives Dan Ives, Wedbush, Rohit Kulkarni, Roth Organizations: Meta, Microsoft

☆ 20 Years of Impossible Choices in ‘Saw’
▼ + stars: | 2024-10-29 | by ( Annie Aguiar | Joyce Ho | ) www.nytimes.com time to read: +9 min

It can be hard to remember two decades later that the original “Saw” was less interested in gore than morality. In “Saw,” Cary Elwes’s character verbalizes the tension and appeal of the franchise: “He doesn’t want us to cut through our chains. “I’m going to try something else you haven’t seen before.”The classic tropes within “Saw” — serial killers, haunted detectives, creepy puppets — are mashed together and inverted around the undeniable binary of its core choice. In “Cube” (1997), an offbeat Canadian science fiction horror film, prisoners in a mysterious jail travel through rooms rigged with traps. Wan never directed another “Saw” movie, while Whannell contributed to “Saw II” and wrote the screenplay for “Saw III.”In the decades since “Saw” was released, Wan has directed tentpole franchise entries like “Aquaman” (2018) and “Furious 7” (2015).

Persons: Cary Elwes, ”, Shawnee Smith, ” Cary, Lionsgate Elwes, Westley, “, James Wan, Leigh Whannell, Wan, ” Wan, “ I’m, Rube Goldberg, David Edelstein, Eli Roth’s, John Kramer, Tobin Bell, Kramer, ” Bell, ” Whannell, Stacey Testro, Testro, Evolution Entertainment — Gregg Hoffman, Oren Koules, Mark Burg —, ” Burg, David Fincher’s “, “ Se7en, Morgan Freeman, Brad Pitt, Whannell, Se7en, —, Elisabeth Moss, ” Billy, Freddy Krueger Organizations: Royal Melbourne Institute of Technology, Shawnee, Lionsgate, Evolution Entertainment Locations: “, London, New York, Wan, Hollywood, United States

☆ Year-end Roth IRA conversions are popular — but don't wait too long, financial experts say
▼ + stars: | 2024-10-29 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

If you're weighing a year-end Roth individual retirement account conversion, waiting too long could be risky, financial experts say. Roth conversions move pretax or nondeductible IRA funds to a Roth IRA, which can start tax-free growth. The strategy has become more popular, with a 46% year-over-year increase during the second quarter of 2024, according to Fidelity. Some investors want to pay Roth conversion taxes now while there are lower tax brackets because the current rates are scheduled to sunset after 2025 without action from Congress. However, it's difficult to predict future tax law changes with uncertain control of the White House, the Senate and the House of Representatives.

Persons: Roth Organizations: Roth IRA, Fidelity, Finance, White, Senate

☆ Tech stocks could be in for a reckoning, this chart shows
▼ + stars: | 2024-10-28 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Since then, the XLK is down 6% relative to the broad market index. "The level it peaked at almost exactly coincides with where the Tech ETF peaked on a relative basis in 2000. Not exactly what you want to see if you're an investor putting new money to work within Tech," he wrote. The SMH closed Friday at $252.96, and the strategist expects the $233 level to be tested near term. "We still exercise some degree of caution when we view Technology stocks, as short term trends and near-term momentum appear to be stalling," O'Hara wrote.

Persons: Wolfe, Rob Ginsberg, Ginsberg, Roth MKM, JC O'Hara, O'Hara, Wells Organizations: Wolfe Research, Tech ETF, VanEck Semiconductor, Nasdaq, Dow Jones, Microsoft, Apple Locations: Wells Fargo

☆ Some wealthy travelers are replacing their hot summer trips with 'coolcations'
▼ + stars: | 2024-10-28 | by ( Brittany Chang | ) www.businessinsider.com time to read: +7 min

Some luxury travel agents say more vacationers are seeking summer trips to cooler climates. In the summer of 2024, a growing number of travelers flocked to Greece as the country was experiencing deadly heatwaves and fires. Wealthy travelers are seeking out chill summersSome western European destinations like Iceland experienced a cooler-than-average summer. Roth has planned summer trips to the latter. AdvertisementA growing number of travelers are pushing their "Euro summer" trips to the fall to beat peak summer crowds and temperatures.

Persons: —, Spain —, Angelos Tzortzinis, Jackie Roth, Scott Dunn, Roth, Noppasin, Julie Durso, Melissa Biggs Bradley, Alexander Spatari, Sergio Pitamitz, Belles, Kent, Stefano Zaccaria, Patrick Quayle Organizations: Service, Eiffel, Getty, Scott Dunn Private, Airlines, New Jersey's Newark Liberty International, United Airlines Locations: Iceland, Norway, Finland, Europe, Italy, Greece, Portugal, Spain, Canada, Rome, Paris, Scandinavia, Maui, Hawaii, Ireland, France, Oslo, Copenhagen, Stockholm, Faroe Islands, Faroe, Sweden, Denmark, New, Nuuk, Greenland's, Madrid, Greenland

☆ Economic concerns are top of voters' minds, but Kamala Harris is choosing a different path for her closing argument
▼ + stars: | 2024-10-27 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +6 min

Kamala Harris has stepped up her attacks on Donald Trump, echoing John Kelly's view that he's "a fascist." Harris and her allies have seized on former White House chief of staff John Kelly calling Donald Trump a "fascist." NEWThe Kamala Harris campaign has released a new ad featuring audio from General John Kelly’s interview with the New York Times. Addressing concerns that she's making the wrong closing argument, Harris told reporters on Friday that voters can process multiple things simultaneously. AdvertisementThose outside the Harris campaign say her approach is well-taken.

Persons: Kamala Harris, Donald Trump, John Kelly's, Harris, —, Joe Biden's, John Kelly, John Kelly’s, Trump, Yashar Ali 🐘, lanning, ike, et,, ernie S anders, ove, ruth S ocial, elly, ike P, hite Organizations: Trump, Service, White House, New York Times, itt, ust

☆ Gen Z, here's how to craft the best retirement plan starting now: 4 financial experts share their best tips and tricks
▼ + stars: | 2024-10-26 | by ( Christine Ji | ) www.businessinsider.com time to read: +8 min

For Gen Z, retirement is 40 or 50 years away, but now is the perfect time to start saving. Four financial experts shared their top strategies to kick-start retirement savings. Or, it may seem difficult and anxiety-inducing, especially as Gen Z juggles student loan debt, high costs of living, and a tough job market. AdvertisementBusiness Insider asked four wealth advisors for their best tips and tricks on how Gen Z can maximize their retirement savings, starting now. Basic budgeting strategies, such as keeping housing costs at 30% or lower of your total paycheck, can also create a strong foundation for retirement savings, Crowell said.

Persons: —, Zers, Z, Gen Z, there's, Andrew Crowell, Davidson, Crowell, Zer, Gen Zers, Ayako Yoshioka, Yoshioka, Roth, haven't, Ashley Weeks, Weeks, Alanna Morey, Morey Organizations: Service, Social Security, Bank of America, D.A, Roth IRA, Equity, Bank

☆ A new ETF could disrupt the trillion-dollar money market fund industry. What to know
▼ + stars: | 2024-10-25 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +4 min

Total money market fund assets have ballooned to more than $6.5 trillion, according to the Investment Company Institute. Traditional money market fund transactions take place at the end of each trading day, while ETFs trade constantly during market hours. How it works The Texas Capital ETF holds very short-term fixed income instruments, similar to traditional money market funds. It will abide by rule 2a-7 , a U.S. Securities and Exchange Commission regulation that governs the liquidity of holdings in traditional money market funds. Looking forward The potential market for a money market ETF is massive.

Persons: Michael Carbone, That's, Richard Leimgruber, Jeff Schwartz, Brad Roth, Roth Organizations: Texas Capital, Money Market, Federal Reserve, Investment Company Institute, CNBC, U.S . Securities, Exchange Commission, Wealth, ICI, The Texas Capital, Thor Financial Technologies Locations: Texas, Chelmsford, Mass, Tarrytown , New York

☆ A key change to 529 plans this year is already triggering parents to save more for college
▼ + stars: | 2024-10-25 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

Total investments in 529s hit $508 billionFinancial experts and plan investors agree that 529 plans are a smart choice for many. And yet, in previous years, data shows that regular contributions to a 529 college savings plan often took a back seat to paying more pressing bills or other priorities. Fstop123 | E+ | Getty ImagesBut this year, in part because of the new changes, more parents are utilizing a 529 college savings plan, with most making recurring monthly and quarterly contributions. In 2024, total investments in 529s jumped to $508 billion in June, up nearly 13% from $450.5 billion the year before, according to data from the College Savings Plans Network, a network of state-administered college savings programs. How much you can contribute to a 529 plan

Persons: Roth, David Nienaber, Martha Kortiak Mert, accountholders, Fstop123 Organizations: College, Foster, Motley Wealth Management, Saving, College Savings Plans Network Locations: Miami

☆ Fed was a little too aggressive in easing 50bps, says Unlimited CEO Bob Elliott
▼ + stars: | 2024-10-25 | 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 EmailFed was a little too aggressive in easing 50bps, says Unlimited CEO Bob ElliottBob Elliott, Unlimited CEO, and Tony Roth, Wilmington Trust CIO, joins 'Closing Bell Overtime' to talk the day's market action.

Persons: Bob Elliott Bob Elliott, Tony Roth Organizations: Wilmington Trust Locations: Wilmington

☆ Tesla's price war is over, says Roth MKM's Craig Irwin
▼ + stars: | 2024-10-24 | 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 EmailTesla's price war is over, says Roth MKM's Craig IrwinCraig Irwin, Roth MKM senior research analyst, joins 'Money Movers' to discuss Tesla's stock pop following its quarterly earnings results, what could've dressed up the quarter, and if Tesla's gross margins could climb again.

Persons: Roth, Craig Irwin Craig Irwin

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