Sophia Bera, CEO and founder of Gen Y Planning. When financial advisor Sophia Bera founded her Austin, Texas-based practice in 2013, she decided to work primarily with millennial clients. Bera, then 29, wanted to help her peers navigate their early careers and the thorny financial issues, such as managing student debt and buying a first
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Tetra Images Like millions of American women, I’ve experienced widowhood. According to the U.S. Census Bureau, as of 2019, there were almost 15 million widows and widowers in the country. About 77% of these individuals, or 11.4 million, were women. (Some widowed people later remarry, so the total number of individuals experiencing widowhood is actually
Thomas Barwick The group that oversees certified financial planners is making it tougher for consumers looking for a new advisor to find out how a particular CFP gets paid. The CFP Board of Standards — a nonprofit that governs the CFP designation, held by 86,000 financial advisors in the U.S. — erased a part of its
No pain, no gain … no risk, no reward. As with most platitudes, you’ve likely heard those lines so many times that by now they’ve lost their meaning. Most of us understand that to amass enough savings to buy a first home, send a child to college or retire before 70, we have to surrender
Damircudic | Getty Images When it comes to saving for retirement, many working women are falling short. Almost one-fifth, or 19%, of working women have nothing saved for retirement, according to a new CNBC/SurveyMonkey Women at Work Survey. The poll surveyed 1,068 working women in the U.S. from Feb. 10-14. “It’s not because women don’t
Getty Images Recent wild market swings have led some 401(k) investors to clamber into safer assets. However, you may want to press pause before you increase your exposure to bonds or cash-type funds. Net trading activity in 401(k) saving plans was higher in the last week of February than all of the combined activity in
The recent stock market meltdown may have dented Americans’ retirement savings, but there’s a silver lining: The downturn made one common retirement strategy less costly for investors. The strategy, known as a Roth IRA conversion, involves changing a traditional, pre-tax retirement account — such as a 401(k) plan or a qualified individual retirement account — to an
If you’ve been considering overseas retirement spots, the rapid spread of the new coronavirus around the globe might be giving you pause. That may not be a bad thing, say some experts. While it’s tricky to predict where and when any contagion — whether this coronavirus or another pathogen — will emerge, a key consideration
Think twice before celebrating that large refund check from Uncle Sam. The IRS had doled out 45.5 million refunds as of Feb. 28, with the average refund check totaling $3,064. That amount is just $4 less than last year’s average refund. Filers have reasons to celebrate their small windfall. Most have ambitious plans for their
PeopleImages Americans nearing retirement are among the many casualties of the coronavirus, as fears around its global spread and resulting economic damage caused a steep selloff in the stock market last week that potentially upended the retirement outlook for many individuals. The S&P 500, Dow Jones Industrial Average and Nasdaq Composite — which serve as barometers
Adilisha Patrom (R) speaks to a customer in her coronavirus pop-up store in Washington, DC, on March 6, 2020. NICHOLAS KAMM Are you financially prepared if you can’t go to work? As fears about the coronavirus mount, so do concerns about possible quarantines, office closures and school shutdowns. “It’s always situations like this that make
It goes without saying that death and taxes are two of life’s certainties. But what many people don’t know is that their Social Security retirement benefits might be taxed. And that means that they haven’t been using strategies proactively to reduce those levies and extend their income over their retirement years. William Meyer, founder of
Gail Warrior Gail Warrior Gail Warrior, who created one of the largest woman- and minority-owned construction companies in the U.S., remembers her first experience applying for a business loan back in 2000. She was chief executive of Dallas-based Warrior Group, a modular construction company that had just won a government contract to build a barracks
WASHINGTON – A.J. Khubani took a chance when he pulled a seat up to President Donald Trump’s table at the golf club in Bedminster, New Jersey nearly two years ago. “Once we said counterfeits on Amazon, that’s all we had to say, we had his attention,” Khubani told CNBC. Khubani explained to the president how
Being an entrepreneur is a dream to which many people aspire, and a worthwhile financial goal. Still, many first-time business owners, and even experienced pros, can sabotage their best efforts through typical mistakes. When you’re ready to roll-up your sleeves and start your own business, keep your eyes open for these four issues. Though they might
When most 15-year-olds are out at the movies, playing video games or listening to music, Mikaila Ulmer of Austin is focusing on building her empire. Mikaila is the CEO of Me & the Bees Lemonade, a business she started at age 4 after her family encouraged her to enter a local youth business competition. While
Tory Burch Source: Brigitte Lacombe Tory Burch, the fashion icon who launched a preppy-chic lifestyle brand in 2004 that now tops $1.5 billion in sales, is on a mission: to advance women empowerment and entrepreneurship by shattering stereotypes and creating new norms. Inspired by her own experience as a working mother launching a business, in which
CNBC’s Jim Cramer said the Federal Reserve‘s emergency interest rate cut on Tuesday morning makes him more concerned about the economic risks from the coronavirus. “It’s great that the Federal Reserve recognizes that there’s going to be weakness, but it makes me feel, wow, the weakness must be much more than I thought,” Cramer said
Damage to the Basement East music venue near the Five Points area is seen on Thursday March 05, 2020 in Nashville, Tennessee. Tornados hit the area early Tuesday morning. Matt McClain | The Washington Post | Getty Images Businesses small and large are working together toward recovery after tornadoes ripped through central Tennessee Tuesday morning,
Image of the 1:10 Hot Wheels R/C Tesla Cybertruck by Mattel. Mattel Image of the 1:10 Hot Wheels R/C Tesla Cybertruck by Mattel. The 1:64 scale model, around 3 inches in length, is the same size of a traditional Hot Wheels car, so it can be used with any of Mattel’s car tracks. It costs