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☆ Mortgage points may help homebuyers lower monthly costs amid high interest rates. How to know if this strategy is right for you
▼ + stars: | 2023-06-17 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Other experts say buyers purchasing mortgage points can be a great strategy for the right situation. Being able to lower that monthly payment can really help give some more wiggle room in people's budgets and help them reach affordability. "Being able to lower that monthly payment can really help give some more wiggle room in people's budgets and help them reach affordability," Bachaud said. In addition to higher upfront costs, home buyers should also weigh other factors before buying mortgage points. But putting those sums toward a down payment likely will not make much of a difference on your monthly costs, Elliott said.

Persons: Getty, Grubbs, Nicole Bachaud, Bachaud, Kamila Elliott, Atlanta . Elliott, Elliott, Stephanie Grubbs Organizations: Fed, Zillow, Wealth Partners, CNBC, Douglas Locations: Atlanta ., Douglas Elliman

☆ Jeffrey Janson with Summit Wealth Partners explains what crypto investors need to know
▼ + stars: | 2023-06-15 | by ( Tanaya Macheel | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJeffrey Janson with Summit Wealth Partners explains what crypto investors need to knowJeffrey Janson, a senior wealth manager with Summit Wealth Partners, sat down with CNBC Crypto World from DACFP VISION 2023, a crypto investing conference for financial advisors in Texas, to explain what people interested in crypto should know before investing in the asaaset class.

Persons: Jeffrey Janson Organizations: Wealth Partners, Summit Wealth Partners, CNBC Locations: Texas

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin sinks below $25,000, and U.S. withdraws new charges in SBF case for now: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Jeffrey Janson, a senior wealth manager with Summit Wealth Partners, explains what people interested in crypto should know before investing in the asset class from DACFP VISION 2023, a crypto investing conference for financial advisors in Austin, Texas.

Persons: explainers, Jeffrey Janson Organizations: CNBC Crypto, CNBC, Summit Wealth Partners Locations: U.S, Austin , Texas

☆ Collective Wealth Partners CEO on how to start investing in real estate
▼ + stars: | 2023-06-07 | by ( Sara Lindsay | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCollective Wealth Partners CEO on how to start investing in real estateCollective Wealth Partners CEO and CNBA FA Council member Kamila Elliott joins CNBC to discuss how she advises clients to begin investing in the real estate market.

Persons: Kamila Elliott Organizations: Wealth, Wealth Partners, CNBA FA, CNBC

☆ Homeownership is a great way to build wealth, advisor says. Here's how to make that purchase successful
▼ + stars: | 2023-06-07 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

Achieving that goal now can be challenging, with home prices still elevated and higher interest rates pushing mortgage costs higher, said Elliott, who is a member of CNBC's Financial Advisor Council. You should also work on improving your credit score, which will put you in the best possible position to get a good rate on your mortgage, Elliott said. Anticipate unexpected homeownership costsOne of the benefits of buying versus renting a home is the ability to have fixed costs, Elliott said. Look for flexibility on your purchaseThough home prices and interest rates are high, there are still possible ways prospective homebuyers can cut costs. By getting a shorter-term mortgage — say, for 15 years instead of 30 years — borrowers may access lower interest rates.

Persons: Kamila Elliott, Elliott, Carline Jean, Elliot Organizations: Wealth Partners, CNBC's, Tribune, Service, Wealth Locations: Atlanta, Parkland , Florida

☆ How to invest ahead of the market's next challenges, according to a top financial advisor
▼ + stars: | 2023-06-01 | by ( Kiley Lambert | ) www.cnbc.com time to read: +3 min

A member of the CNBC Financial Advisor Council, Sun is a regular media on-air contributor for a variety of local and national programs. Sun recently shared her thoughts on a number of savings and investment topics ahead of the CNBC Financial Advisor Summit on June 15. Sun: The most important advice we are giving our clients right now is to stay aware of the current market environment but prepare for more challenges ahead. As financial advisors, it is crucial for us to not only hear but truly listen to cues of stress and emotions from our clients. While we may perceive a financial decision as clear and straightforward, our clients may still feel hesitant.

Persons: Winnie Sun Organizations: Sun, Wealth Partners, CNBC, Summit Locations: Irvine , California

☆ Women need financial freedom to 'live on their terms,' advisor says. These 3 strategies can help
▼ + stars: | 2023-05-22 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

Being out of the workforce for any period of time can impact women's financial security and retirement, she said. "I think it's important for women to feel empowered, and part of feeling empowered is having the financial resources and having financial stability," Elliott said. Negotiate your payPonywang | Istock | Getty ImagesResearch has shown there is still a gender pay gap that results in women having lower earnings. It's important for women to feel empowered, and part of feeling empowered is having the financial resources and having financial stability. As average market returns bounce back, that can result in meaningful progress over time, Elliott noted.

☆ As investors worry about a recession, take 3 steps to boost your financial security, advisor says
▼ + stars: | 2023-05-19 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

A recent survey from Nationwide finds more than two-thirds of respondents — 68% — expect a recession within the next six months. Meanwhile, 62% of respondents believe the recession will be as severe or worse than the Great Recession of 2007 to 2009. "One of the things I share with others is control what you can control," Elliott said. While what happens with the economy or your employer may be out of your control, there are steps you can take to help boost your personal financial security. For many, we're using it as a buying opportunity to buy certain securities that are priced fairly low right now.

Sdi Productions | E+ | Getty ImagesIt's been a grueling period for investors amid rising interest rates and lingering recession fears. "Don't get so wrapped up in the markets that you forget about your asset of you — and how you can best protect your money and your legacy," said Braxton, who is also a member of CNBC's Financial Advisor Council. Braxton said it's critical to have estate planning documents, including a will that dictates who will receive your assets upon death, and to keep your beneficiaries updated. While Covid-19 has prompted a rise in estate planning, nearly 66% of American adults still don't have a will, according to a 2023 survey from Caring.com. Braxton said it's also important to have documents for powers of attorney, allowing someone to make financial or health-care decisions on your behalf if you were unable.

☆ Why it's 'just no question' new investors should start by opening a Roth IRA, expert says
▼ + stars: | 2023-04-21 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

A Roth IRA allows investors who qualify to set aside after-tax money up to a certain limit each year. Who can invest in a Roth IRAImportantly, you can start contributing to a Roth IRA starting from any age if you have taxable compensation. In 2023, investors may put up to $6,500 in traditional or Roth IRAs (or $7,500 if they're 50 or older). The way you invest the money inside a Roth IRA account can be adjusted to suit your goals. What you choose to put in the Roth IRA can be either savings or investments.

☆ Financial advisor on estate planning: 'protect your legacy'
▼ + stars: | 2023-04-21 | by ( Sara Lindsay | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinancial advisor on estate planning: 'protect your legacy'2050 Wealth Partners co-CEO and CNBC FA Council member Lazetta Braxton often advises clients on how they can carry the passion they have for investing over into their estate planning.

Catherine Mcqueen | Moment | Getty ImagesInflation is gradually falling but remains high, meaning consumers' budgets continue to be stressed by fast-rising prices. "The best defense against inflation is being true to knowing your necessities and accepting the fact that [prices have] increased," said Braxton, a member of CNBC's Financial Advisor Council. Inflation is a measure of how quickly the prices consumers pay for goods and services are rising. When inflation is high — and outpacing wage growth — there are two basic financial adjustments for households to make ends meet: increase income or decrease expenses, Braxton said. Hourly earnings fell 0.7% in the past year after accounting for inflation — meaning consumers' dollar is getting stretched a bit further.

☆ Financial experts share their greatest money regrets — all have one thing in common
▼ + stars: | 2023-04-12 | by ( Jessica Dickler | ) www.cnbc.com time to read: +6 min

Here, CNBC Financial Advisor Council members share their greatest money mishaps, and what they do differently now. "For my first five years in financial planning, I made the same amount of money." Money mistake: Leasing 'too much' carThianchai Sitthikongsak | Moment | Getty Images"My biggest money mistake was back when I was working at Smith Barney as an early financial advisor," said Winnie Sun, co-founder and managing director of Sun Group Wealth Partners, based in Irvine, California. So, Sun, a member of the CNBC Financial Advisor Council, splurged on her dream car. Money mistake: Unloading inherited stock "My wife had inherited shares of Phillip Morris stock from her father," said Lee Baker, a CFP based in Atlanta.

☆ Here's a decade-by-decade guide to building wealth
▼ + stars: | 2023-04-07 | by ( Michelle Fox | ) www.cnbc.com time to read: +6 min

and founder and director of financial planning at Life Planning Partners in Jacksonville, Florida. You should also start planning for retirement. After that, open a Roth individual retirement account, if your income qualifies, McClanahan said. "You can borrow for college, but you can't borrow for retirement," McClanahan said. Carolyn McClanahan director of financial planning at Life Planning PartnersYou may also have aging parents, so be sure to check on their financial planning, McClanahan said.

☆ Here are a financial advisor's 4 most important money tips for parents with young kids
▼ + stars: | 2023-03-24 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Save for future education costsThere are tax-advantaged ways to save for your child's future education. Among the most popular is the 529 plan, which allows parents to invest money for higher education and other costs. While each state has its own 529 plan, parents can invest in a plan outside of their state. "I think parents should ask, do they want to relinquish ownership of this money when their child is an adult?" There are other avenues for parents to invest for their kids, but they may be more challenging.

☆ Key banking crisis lesson: 'The first line of defense should always be cash,' advisor says
▼ + stars: | 2023-03-20 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

People wait outside the Silicon Valley Bank headquarters in Santa Clara, California, to withdraw funds after the federal government intervened upon the bank's collapse, on March 13, 2023. watch now"The first line of defense should always be cash," said Braxton, who is a member of CNBC's Financial Advisor Council. Without liquidity, SVB couldn't "absorb the shock of the cash run," and had to sell its assets at the wrong time, she said. It's a valuable lesson for investors who may someday face their own cash crunch due to a job loss or another financial emergency, Braxton said. The first line of defense should always be cash.

☆ 41% of adults are preparing for a recession. It's time to stress-test your income, advisors say
▼ + stars: | 2023-03-17 | by ( Lorie Konish | ) www.cnbc.com time to read: +5 min

Yet many Americans — 41% — have taken steps to prepare for a possible economic downturn, according to a survey by Morning Consult. Still, there are a few steps advisors say you should take now to make sure you are prepared to weather a downturn. Barry Glassman president of Glassman Wealth Services"Stress-test your income against your ongoing obligations," Glassman said. The upside for conservative investors is they are now able to get higher interest rates on their cash. Reduce your debtsHigher interest rates mean consumer debts are climbing higher.

☆ A Roth IRA can be smart for young adults who 'can't envision' retirement, advisor says. Here’s why
▼ + stars: | 2023-03-17 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +1 min

That's typically the age when you can begin to take distributions from various retirement accounts without possibly facing a 10% early-withdrawal tax penalty. However, a Roth account is a bit different. watch nowSun, who is a member of CNBC's Financial Advisor Council, views a Roth IRA as a dual-purpose account because it allows the investor to have an emergency fund, as well. "They can use the Roth IRA to save for retirement, but also in case of emergency, they could take the money out," she said. "And I'd say 99% of my clients have never needed to take from their Roth IRA … they take a lot of pride in having it."

☆ Retirement savers can position for a ‘comeback’ after 2022 losses, says advisor. Here’s how
▼ + stars: | 2023-03-07 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

"It's important to remember that as long as you haven't sold those investments, you haven't realized the loss, either, and there is a potential for a comeback." It's reasonable to expect that portfolios will continue to improve in the next year, or even by year-end, she said. More from Personal Finance:Why Social Security retirement age, payroll tax may changeExperts argue Social Security retirement age shouldn't pass 67Return on waiting to claim Social Security is 'huge' Even if one sector of the financial markets performed well, you can't assume that will continue. After a tumultuous year, many older Americans are concerned about their retirement security. Nearly half, or 48%, of retired Americans believe they'll outlive their savings, a separate report by Clever Real Estate found.

☆ The unraveling of fintech darling Vise
▼ + stars: | 2023-03-03 | by ( Stephanie Palazzolo | ) www.businessinsider.com time to read: +28 min

It was April, and more than two dozen salespeople who worked for the fintech startup Vise had been ordered to a multiday off-site at the W Hoboken hotel in New Jersey to share exhaustive reports on their performance. Even salespeople at bigger, established, top-tier investment-management firms typically wouldn't close $250 million in a year, multiple sales employees said. (K-means clustering is an unsupervised machine-learning algorithm often referred to as a form of AI, Vise's founders said). (Vise's founders disputed this, saying the company received updated financial data only once a day for its portfolio-construction engine.) And to address its "leaky funnel" of overestimating prospective sales, Vise was to stop outreach to new clients while it onboards and upsells to existing clients, the document said.

☆ March is a three-paycheck month for some workers. Here's how to make the most of that extra check
▼ + stars: | 2023-02-21 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

watch nowThese are the three-paycheck months in 2023If your first paycheck in 2023 was Friday, Jan. 6, your three-paycheck months will be March and September. Otherwise, if your first paycheck in 2023 was Friday, Jan. 13, your three-paycheck months will be June and December. But before making any investment moves, "if you have credit card debt, that needs to be paid off first," Sun advised. As day-to-day expenses continue to rise, Americans are taking on more debt. At the same time, annual percentage rates are also heading higher, making it much more expensive to carry a balance.

☆ Scoring the best deals on Presidents' Day holiday sales: 3 smart money moves to make as you shop
▼ + stars: | 2023-02-20 | by ( Sharon Epperson | In Sharoneppersoncnbc | ) www.cnbc.com time to read: +4 min

"For two reasons – the impact of inflation during a pandemic era and interest rates – what appears to be a deal may not be." Before you charge the purchase to a credit card, remember this is one of the most expensive ways to borrow money. The annual percentage rate on a credit card is at an all-time high of nearly 20%. Credit experts say that a cash-back rewards credit card with a 0% interest introductory offer may be an even better deal. Look for lower loan rates at a credit union: Many car brands offer Presidents' Day deals that lower the purchase price or interest rates or make lease deals more attractive.

☆ Paid biweekly? Here are your 2 three-paycheck months in 2023 — and how to plan for them
▼ + stars: | 2023-01-04 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

An extra paycheck could help. If you are a W-2 employee and get paid biweekly, there are two months out of the year when you will receive three paychecks instead of the usual two. If your first paycheck in 2023 is Friday, Jan. 13, your three-paycheck months will be June and December. After that, consider stashing an extra paycheck in long-term savings, such as a Roth individual retirement account, Sun said. Further, companies often offer an employer match, which is essentially free money toward your retirement savings goals.

☆ 6 health insurance terms you need to know as open enrollment begins
▼ + stars: | 2022-11-06 | by ( Greg Iacurci | ) www.cnbc.com time to read: +9 min

PremiumsThe premium is the sum you pay an insurer each month to participate in the health plan. It's perhaps the most transparent and easy-to-understand cost component of a health plan — the equivalent of a sticker price. Eighty-eight percent of workers covered by a health plan have a deductible in 2022, according to KFF. For example, would you struggle to pay a $1,000 medical bill if you require health care? If so, a health plan with a larger monthly premium and a smaller deductible may be your best bet, Sun said.

Here's how you can get a grip on your personal finances before and during a recession. We do weird things in times of recession, like comfort-eating meatloaf and ice cream, according to food trend experts. We're also more prone to panicking and making mistakes with our money, personal finance experts and economists told Insider. "A recession sort of reveals problems that people may have, and not necessarily pay attention to much in the good times," he said. In good times, with interest rates low, your viewpoint can be obscured by the ease of getting credit, he said.

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