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☆ U.S. tariff hikes on China EVs will benefit these global stocks, Bernstein says
▼ + stars: | 2024-05-21 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

On top of that, the Inflation Reduction Act (IRA) subsidies to reshore the battery supply chain to the U.S. are also "having the desired impact," it added. It named companies such as LG Energy Solution and Samsung SDI which have more than 65% of U.S. battery manufacturing capacity. LG Energy Solution has the additional benefit of being the most exposed to growth and IRA benefits, they added. But Bernstein said it prefers Samsung SDI to LG Energy Solution for now, as the former offers "growth at a reasonable price." Bernstein gave Samsung SDI and LG Chem an outperform rating and LG Energy Solution a market perform rating.

Persons: Bernstein, Freyr, — CNBC's Michael Bloom Organizations: U.S, LG Energy, Samsung SDI, LG Chem, Umicore, Basf, LG, Panasonic, Tesla, SolidEnergy Systems Locations: U.S, North America, decouple, China, South Korea, Europe

☆ Creating an income-producing portfolio
▼ + stars: | 2024-05-20 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +7 min

A lot goes into creating and managing an income-producing portfolio that works for you. Knowing your expenses will give you a good sense of the income you’ll need. Ways to generate incomeTake the income you think you’ll need and subtract from that the income you expect. For example, if you need $65,000 a year but will only bring in $40,000, you’ll need to generate the other $25,000. • For money you’ll need in three to five years, use short-term corporate bonds as well as longer-term CDs.

Persons: it’s, Will, David Seufer, you’ll, Marguerita Cheng, ”, David Edmisten, Edmisten, Cheng, ” Seufer, “, ” Edmisten, Seufer, they’re, ” Cheng Organizations: New, New York CNN, Gravitas, Social Security, Blue, ” Capital, Social Locations: New York

☆ A 50-year-old retiree says his 'biggest mistake' was saving too much in his 401(k). He explains what he would do differently and his work-around for being illiquid when he retired.
▼ + stars: | 2024-05-19 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewIn his early 20s, one of Eric Cooper's first bosses gave him some sound money advice: Contribute as much as you can to your 401(k). AdvertisementCooper maxed out his 401(k) for more than two decades and accumulated enough to retire in his late 40s. While there are a lot of restrictions, it made sense for Cooper, who was fully committed to early retirement. At some point, we're going to have to start spending that money, and the IRS is going to start taxing it," he said.

Persons: —, Eric Cooper's, maxed, Cooper, maxing, I'm, Cooper maxed, Eric Cooper Organizations: Service, Business, Independence, IRS Locations: Louisville, I'm

☆ 3 reasons why buying copper right now is the best trade one commodity expert has ever seen
▼ + stars: | 2024-05-19 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Copper "is the most compelling trade I have ever seen," Carlyle's Jeff Currie said on the Odd Lots podcast. He thinks the metal's massive mismatch in supply and demand could push its price up to $15,000 a ton. AdvertisementCopper supply issues are making the metal considerably more expensive, says commodities veteran Jeff Currie, who is very bullish on the opportunity. He later added: "I just quote many of our clients and other market participants say it's the highest conviction trade they've ever seen." Though not necessarily part of his acronym, artificial intelligence is also amplifying industry demand, Currie mentioned.

Persons: Carlyle's Jeff Currie, Currie, —, Jeff Currie, Carlyle, Currie —, Goldman Sachs, policy's, copper's, deglobalization Organizations: Industry, Service, Bloomberg, US, BHP Locations: China, Panama

☆ Trump-era tax cuts set to expire after 2025 — here's what you need to know
▼ + stars: | 2024-05-18 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +4 min

The TCJA reduced federal income tax rates across the board, with the top rate falling to 37% from 39.6%. That would return the federal income tax rates to 10%, 15%, 25%, 28%, 33%, 35% and 39.6%. In the meantime, some higher earners have been leveraging lower income tax rates through 2025 by incurring income now, experts say. The standard deduction could fallWhen filing taxes, you claim the standard deduction or itemized deductions, whichever is greater. Before 2018, about 70% of taxpayers claimed the standard deduction, compared with 90% in tax year 2020, according to the Tax Policy Center.

Persons: Donald Trump, Michael M, Erica York, Roth, it's, Gleckman, Robert Dietz Organizations: Santiago, Getty, Tax, Center, Federal Tax, Senate, Bernstein Private Wealth Management, CNBC Locations: Wildwood Beach, Wildwood , New Jersey, California , New Jersey, New York, Minneapolis

☆ The newest weight-loss hack has people turning to a highly addictive drug
▼ + stars: | 2024-05-17 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at how Zyn nicotine pouches are becoming the new weight-loss quick fix . A new weight-loss quick fix is making the rounds just in time for summer's unofficial start (Memorial Day), but this one relies on a highly addictive drug. However, one doctor Hilary spoke to has concerns about the effects of using nicotine to lose weight. Wilson, Amazon, Albany Times Union/Hearst Newspapers/Getty, Creative Crop/Getty, Tyler Le/BIOf course, you don't have to rely on a highly addictive drug to lose weight. Disney CEO Bob Iger said he's giving too much money to the Big Tech app stores that distribute Disney-owned streamers like Hulu and Disney+.

Persons: —, Michael M, Rebecca Zisser, Hilary Brueck, Mia de Graaf, Hilary, they're, They're, Wilson, Tyler Le, I'm, BI's Jordan Hart, padel, Gabby Landsverk, Jamie Dimon Jamie Dimon, Jerome Powell, Bob Iger, Bernstein, Rouco, Zers, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, HBO, Business, Getty, bros, Albany Times Union, Hearst Newspapers, Creative, CNBC, JPMorgan, GameStop, Disney, Big Tech, Hulu, Google, Big, Microsoft, Wall Street, Citi Locations: Amazon, China, Ireland, Australia, millennials, New York, London

☆ 3 ways to tap into your retirement fund early without paying a penalty, according to a certified expert
▼ + stars: | 2024-05-16 | by ( Laila Maidan | ) www.businessinsider.com time to read: +5 min

If you're thinking about early retirement but don't have a stash of cash, one option is to tap into your retirement fund. Under certain conditions, the Internal Revenue Service will allow withdrawals from an IRA or employer-sponsored retirement account before the retirement age without penalty for certain reasons. Before tapping a 72(t)Related storiesBlackston advises his clients to seek alternative options before resorting to Rule 72(t). But you can only tap into it through your current employer-sponsored retirement account, and your employer's program must allow for it. The upside is that it doesn't drain your retirement account and could last longer.

Persons: you'll, Drew Blackston, There's, SEPP, you've, Blackston, Tapping, it's, It'll Organizations: Pearl Wealth Group, Internal, Service, IRS

Social Security trust fund reserves are projected to be depleted by 2035. The 2023 Social Security and Medicare Trustees annual report projects that the program's trust fund reserves will be depleted by 2035. "It's not that Social Security will disappear completely, but rather, the surplus bucket we rely on is at risk." The average Social Security check for a retired worker is only $1,907 per month, according to the Social Security Administration. Without sufficient action, reduced Social Security benefits might not be able to keep pace with rising costs.

Persons: Emily Millsap, you've, Roth, HSAs Organizations: Social Security, Avantax Wealth Management, Social, Social Security Administration, Workers

☆ An early retiree shares the advice he received in his early 20s that helped him retire at age 48 — and how he invested his money to build a seven-figure portfolio
▼ + stars: | 2024-05-16 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

It aligned with the life-changing money advice he received from a boss in his early 20s. The stock market: from tech stocks to low-cost index fundsCooper's investment strategy has evolved over the years. AdvertisementTo lower his risk, "I am in the process of transitioning my portfolio to mostly low-cost index funds, which are very popular among the FI community." "They're all paid off and bring in about $65,000 a year in rent," he said, adding that they played an important role in his early retirement. Advertisement"I think the easier route is to invest in low-cost index funds," he said, noting that the playbook is much simpler.

Persons: —, Eric Cooper, I'd, Cooper, Cooper's, Roth Organizations: Service, Business, Roth IRA, FI Locations: Louisville, Egypt

☆ 529 college savings plans 'are better now than they've ever been,' expert says. Here are key changes for 2024
▼ + stars: | 2024-05-15 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

Whether the funds are for college or vocational studies, she said, "529 plans are better now than they've ever been before and they're more flexible." "There are three pretty significant changes this year," said Vivian Tsai, senior director of education savings at TIAA and chair emeritus for the College Savings Foundation, a non-profit that provides public policy support for 529 plans. Financial experts and plan investors agree that 529 college savings plans are a smart choice for many. Tax deductions or credits for contributionsEven before recent changes, there were already many advantages to a 529 plan. A few states also offer additional benefits, such as scholarships or matching grants, to their residents if they invest in their home state's 529 plan.

Persons: Vivian Tsai, New Roth, beneficiary's Roth, Chris Lynch, they're, " Lynch Organizations: College Savings Foundation, Financial, Finance, CNBC, Federal

☆ 10 cities where Social Security and retirement incomes are the highest
▼ + stars: | 2024-05-14 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +3 min

Read previewResidents of some cities in Virginia, Massachusetts, and Texas have the nation's highest retirement income and Social Security benefits. The DC area's high retirement incomes stem mainly from higher pension and IRA incomes instead of Social Security payments, which are lower than many other cities in the top 20. This breaks down into $51,344 in retirement account income and $28,219 in Social Security income. Though not in the top 10 overall, Ann Arbor ranked highest for Social Security income at $30,428, followed closely by Carmel, Indiana, at $30,069. Meanwhile, residents of 14 cities in SmartAsset's study depend on Social Security for over half their retirement income, including Lewisville, Texas, at 54.4%.

Persons: —, they're, Ann Arbor Organizations: Service, Social Security, Survey, Business, Nationwide, AARP, Social, DC, Goodyear Locations: Virginia , Massachusetts, Texas, Arlington , Virginia, Cambridge , Massachusetts, The Woodlands , Texas, Washington, DC, Arlington, Alexandria, Cambridge, Berkeley, Highlands, Colorado, Naperville, Illinois, Carmel , Indiana, Southern, Arizona, Sugar, Lewisville , Texas, Spring Hill , Florida, South Bend , Indiana

☆ 24-year-old earns $50,000 a year living in a town of 121—how she spends her time and money
▼ + stars: | 2024-05-12 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +6 min

Madi Lee says she lives comfortably in Medora earning $50,000 per year working at the Theodore Roosevelt Medora Foundation. Take Madi Lee, 24, who graduated in 2022 and found herself working in Medora, North Dakota — popoulation: 121. Medora is a tourist town near Theodore Roosevelt National Park where the busy season brings in thousands of visitors. Madi Lee, 24, moved to Medora, North Dakota, which has a year-round population of 121 people. Courtesy of Madi Lee

Persons: Madi Lee, Theodore Roosevelt Medora, Theodore Roosevelt, Lee, I'm, Roth, Medora, she's, she'll Organizations: Theodore Roosevelt Medora Foundation . New, D.C, Theodore Roosevelt Medora Foundation, Ford Bronco, University of Minnesota Duluth Locations: Theodore Roosevelt Medora Foundation . New York City, Washington, Salt Lake City, Medora , North Dakota, Theodore, Madi Lee, Medora, Dickinson, North Dakota, it's, Roseau , Minnesota, Madi

☆ My husband quit a job he hated. As the breadwinner, I don't make as much money, but we feel like we can finally breathe again.
▼ + stars: | 2024-05-11 | by ( Katie Matthews | ) www.businessinsider.com time to read: +6 min

My husband was so burned out by the time he quit that he's taking some time before going back to work. I feel the same way now that I'm the one with the job, even temporarily. Admittedly, I can feel resentful that I'm working while he isn't, especially when I've never had a clean break from work, not even when our babies were born. Katie Matthews and her husband appreciate each other more since he quit his job. AdvertisementMy husband still isn't sure what he'll do next, but he's the most hopeful he's been in a long time.

Persons: We've, I'm, I've, It's, we've, it's, haven't, Katie Matthews, he's Organizations: Service, Business

☆ An early retiree explains the IRS rule he uses to withdraw $20,000 a year of his retirement money penalty-free even though he hasn't reached age 59 ½
▼ + stars: | 2024-05-11 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

Courtesy of Eric CooperThe idea of early retirement didn't start to percolate until 2019. "That's when I found the Mr. Money Mustache website and this article that explained the simple math behind early retirement and the 4% rule." According to the 4% rule, which helps retirees determine how much they can spend without running out of money, Cooper had a big enough portfolio to stop working. Using Rule 72(t) to access his retirement money without penaltyWhen you contribute to retirement accounts like a 401(k) and IRA, you can start taking penalty-free withdrawals after age 59½. He rolled over $300,000 because that's about how much money he'll need for a $20,000 annual distribution each year until he's 59 ½.

Persons: Eric Cooper, Cooper, I'd, Cooper's, didn't, I've, It's, you've, That's Organizations: Business, Google, IRS Locations: percolate, Louisville

☆ You just heard your college-bound child is getting less aid than you hoped. Now what?
▼ + stars: | 2024-05-10 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +8 min

New York CNN —The good news is your child got into college and is preparing to enroll this fall. The bad news is that you’ve just learned the aid package your child’s school is offering is much smaller than you’d hoped. Over four years of college, students can take out a total of up to $27,000. “That’s cash-flow friendly while your child is in college,” Walker said. Also, Bogardus suggests checking to see if your state offers a tuition aid plan or subsidized loan rates for educational expenses.

Persons: you’ve, sobering, ”, Beth Walker, “, ” Walker, they’ve, Joseph Bogardus, it’s, Bogardus, Skip, Walker, you’ll Organizations: New, New York CNN, College Board, Center for College Planning Solutions, College, ”, Stafford, PLUS Locations: New York, New England, Stafford

☆ This is the 'sweet spot' for Roth individual retirement account conversions, expert says
▼ + stars: | 2024-05-09 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

If you're weighing a Roth individual retirement account conversion, you could save on taxes by leveraging a limited window of time, experts say. Roth conversions transfer pretax or nondeductible IRA money to a Roth IRA, which kickstarts future tax-free growth. After you stop working, but before you start required withdrawals from retirement accounts, is "the sweet spot" for Roth conversions, according to JoAnn May, a Berwyn, Illinois-based certified financial planner at Forest Asset Management. Plus, many investors want to leverage lower income tax brackets through 2025 before provisions could sunset from former President Donald Trump's signature tax overhaul, she said. After a Roth conversion, you'll owe regular income taxes on the converted amount.

Persons: Roth, JoAnn May, IRAs —, Donald Trump's, you'll Organizations: Roth IRA, Asset Management, Finance Locations: Berwyn , Illinois

☆ Here's how to avoid getting 'hammered' on inherited individual retirement account taxes, experts say
▼ + stars: | 2024-05-06 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Inherited individual retirement accounts can be a financial boost for heirs, but the windfall can trigger tax issues, experts say. Withdrawals from pretax inherited IRAs incur regular income taxes. Since 2020, certain heirs can no longer "stretch" retirement account distributions over their lifetime to reduce yearly taxes. Now, certain heirs, including most adult children, must deplete inherited accounts within 10 years, known as the "10-year rule." While only about 20% of May's clients have inherited IRAs, she expects more heirs to face the tax-planning issue as baby boomers age.

Persons: IRAs, Ed Slott, Roth, Slott, JoAnn May Organizations: Finance, IRS, Asset Management Locations: Berwyn , Illinois

☆ Robinhood discloses SEC letter warning of potential enforcement actions: CNBC Crypto World
▼ + stars: | 2024-05-06 | 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 EmailRobinhood discloses SEC letter warning of potential enforcement actions: 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, Chris Kline, co-founder and COO of Bitcoin IRA, discusses what's moving crypto markets after a weekend rally.

Persons: Robinhood, explainers, Chris Kline Organizations: CNBC Crypto, CNBC, Bitcoin

☆ Power demand from data centers is expected to boom by 160% into 2030, boosting electricity needs at a rate unseen in a century. These 16 buy-rated stocks are set to benefit, according to Goldman Sachs
▼ + stars: | 2024-05-05 | by ( Laila Maidan | ) www.businessinsider.com time to read: +5 min

According to an April 28 report from Goldman Sachs, the demand for power from AI data centers is expected to increase by 160% between 2023 and 2030. The report states that the rate of demand growth expected in the next five years has not been witnessed since the beginning of the century. AdvertisementFluence Energy (FLNC) provides clean energy storage that can serve as a power supply backup source if data centers experience outages. NextEra Energy (NEE) is a US energy company already providing power to data centers and demand from its electricity supply is expected to grow. nVent Electric (NVT) is an electrical parts supplier that provides liquid cooling, enclosures, power distribution, and cable management for data centers.

Persons: —, Goldman Sachs, Goldman, it's, Kinder Morgan Organizations: Service, Real, Business, Microsoft, Fluence, Google, GE, NextEra Energy, Co, Georgia Power, Xcel Energy, Cameco Corporation, EQT Corp, Caterpillar, Eaton Corporation, MYR Locations: US, Canadian

☆ 5 financially independent individuals and couples share the book that changed their investment strategy
▼ + stars: | 2024-05-04 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

When you invest in an index fund, you're essentially buying a basket of stocks that represents a broad market or theme. "That book makes a really good case for index funds." They own the Vanguard 500 Index Fund Admiral Shares Fund (VFIAX), the Vanguard Information Technology Index Fund ETF (ETF, VGT), and the Fidelity MSCI Information Technology Index ETF (ETF, FTEC). Note that ETFs, like index funds, offer an easy way to diversify and bundle several securities into one investment. Since index funds are passively managed, they typically have lower costs than actively managed funds — and, historically, they outperform active funds.

Persons: Carl, Mindy Jensen, JL Collins, Mindy, it's, They're, Collins, Jamila, Ali, Josh Lupo, Josh, Jack Bogle, Warren Buffett Organizations: Business, Independence, Apple, Microsoft, IRA, FIRE, Fund, Vanguard Information Technology Index Fund ETF, Fidelity Locations: American

☆ A 64-year-old 'peak boomer' worries his savings and Social Security won't be enough to retire: 'My biggest fear is finding myself at 75 standing at the door at Walmart.'
▼ + stars: | 2024-05-03 | by ( Allie Kelly | ) www.businessinsider.com time to read: +4 min

Kirsch is hoping to start collecting Social Security checks in a couple of years, just before his 67th birthday. Related storiesFor many, Social Security won't be enough to fill the gaps. As of March 2024, the Social Security Administration said that its average monthly check sent to recipients is $1,774.83. And, if lawmakers don't intervene, the US Social Security fund is set to dry out by the late 2030s. "Start saving and do it as aggressively as you can," he said.

Persons: —, David Kirsch, Kirsch, Hill , New Hampshire —, he's, Kirsch isn't, didn't Organizations: Service, He's, Business, Walmart, Survey, Income, Social, Social Security Administration, US Social Security Locations: Caribbean, South America, Hill , New Hampshire

☆ Who's winning the Drake vs. Kendrick Lamar showdown? Here's what critics are saying
▼ + stars: | 2024-05-01 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +9 min

Read previewDrake and Kendrick Lamar were once considered collaborators, perhaps even friends. Over the years, however, Drake and Lamar came to represent very different versions of hip-hop greatness: the former is a commercial juggernaut, racking up No. Today, their separation is more apparent than ever: Drake and Lamar have become all-out foes. AdvertisementIn the former, Drake mocks Lamar's height with a reference to his latest Grammy-winning album, "Mr. Morale & the Big Steppers." "I hate the way that you walk, the way that you talk, I hate the way that you dress."

Persons: —, Drake, Kendrick Lamar, Lamar, who's, it's, Lamar's, Cole's, Aubrey, Cole, Aubrey Graham, Taylor, Tupac Shakur, Angel Diaz, Sowmya Krishnamurthy, Krishnamurthy, Alphonse Pierre, Pierre, Pusha, Drake teardowns, DMX, Hunter Harris, Lamar's catty, Zoe Guy, Guy, Andre Gee, Lamar didn't, Gee, Kendrick doesn't, DJ Marseel, Shamira Ibrahim, I'm, Kendrick, bec, Tay Organizations: Service, Beatles, Business, Metro, Morale, objectifying, Billboard, Pitchfork, Stone Locations: Lamar

☆ How to save for retirement if your company doesn't offer a 401(k)
▼ + stars: | 2024-04-30 | by ( Mike Winters | ) www.cnbc.com time to read: +4 min

Even if your employer doesn't offer a 401(k) plan, it shouldn't stop you from getting the most out of your retirement savings. You have other tax-advantaged options available to save for the future, including individual retirement accounts, Roth IRAs or health savings accounts — all of which can help your money grow. However, only about 11% of Americans max out their 401(k) contributions. If you don't have an employer retirement plan like a 401(k), all of those contributions are tax deductible. And unlike traditional IRAs, you don't have to take minimum distributions at any point.

Persons: Roth, Justin Rucci, Roth IRAs Roth, Alyson Basso Locations: Newport Beach , California, Middleton , Massachusetts

California Coast Credit Union is currently offering a 5-month CD with a rate of 9.50% annual percentage yield (APY). For a limited time, the California Coast Credit Union is offering 9.50% APY on its 5-month "Celebration Certificate" CD in honor of its 95th anniversary. While some credit unions offer membership to anyone in the nation, California Coast Credit Union isn't one of them. You also can't have previously opened a Celebration Certificate CD, as it's limited to one per social security number. You can't withdraw your money early or add any additional money to the CD after you've funded it.

Persons: it's, you'll Organizations: California Coast Credit Union, San Diego Riverside Orange, San Diego Riverside Orange Los Angeles Ventura Locations: California, Southern California, San Diego Riverside Orange Los, San Diego Riverside Orange Los Angeles Ventura Imperial San Bernardino

☆ Advice about 401(k) rollovers is poised for a big change. Here's why
▼ + stars: | 2024-04-28 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Johner Images | Johner Images Royalty-free | Getty ImagesA new U.S. Labor Department rule will significantly change the advice many investors receive about rolling money over from 401(k) plans to individual retirement accounts, legal experts say. watch nowA 'major shift' in rollover adviceThe new Labor Department rule aims to make more investment recommendations "fiduciary" in nature. The new Labor Department rule changes that, however. Good advisors are likely making an honest effort to do what's best for their clients, but hopefully the Labor Department rule would "bring up the bottom to a better quality," Reish said. However, many financial companies dispute the necessity of the Labor Department rule.

Persons: Rollovers, Katrina Berishaj, Ronon Stevens, Young, it's, Reish, Berishaj, They'd, Susan Neely Organizations: . Labor Department, Department, Labor, Economic, Labor Department, Young, American Council of

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