Advisors

The Powerball jackpot has reached $875 million by July 14, 2023. Scott Olson | Getty The Powerball jackpot rose to an estimated $875 million ahead of Saturday’s drawing, growing to the third-largest prize in the game’s history, the lottery announced. Of course, the estimated windfall is a pre-tax number based on 30 years of annual

Social Security has likely touched your life or the life of someone you know. This safety net provides income for beneficiaries including retired and disabled workers, and their dependents. While you’re working, a chunk of your paycheck goes toward Social Security. When you’re retired, it’s often a key income stream. “It’s the biggest single source of

mapodile | E+ | Getty Images After a more than three-year payment pause, federal student loan bills will once again be part of Americans’ lives this fall. But borrowers should try not to fall into the “student loan identity” trap. More than a decade ago, online advice columnist and best-selling author Cheryl Strayed addressed the

Aretha Franklin performs onstage in New York City, Nov. 7, 2017. Dimitrios Kambouris | Getty Images Entertainment | Getty Images History is filled with examples of celebrities who died without a will: Bob Marley, Prince, Howard Hughes, Pablo Picasso, Jimi Hendrix and even Abraham Lincoln. But an ongoing legal dispute involving music icon Aretha Franklin’s

Prostock-Studio | Istock | Getty Images If you have a 401(k), one of the big questions is whether to make pretax or Roth contributions — and the answer may be complicated, experts say. While pretax 401(k) contributions reduce your adjusted gross income, you’ll owe levies on growth upon withdrawal. By comparison, Roth 401(k) deposits won’t

When the market is volatile, it’s important to be mindful of your other assets and think of your portfolio in a holistic way, said certified financial planner Lazetta Rainey Braxton, co-founder and co-CEO of virtual advisory firm 2050 Wealth Partners. “When we are thinking about market volatility, that means that there is uncertainty about what direction

The Carnival Radiance cruise ship at the Avalon, California, harbor on May 19, 2023. Aaronp/bauer-griffin | Gc Images | Getty Images The NASDAQ may have hit a bit of a blip in late June when it absorbed losses over six consecutive trading sessions at one point. But it rallied during the final days of the

Inflation may have started to ease, but it remains well above most consumers’ comfort level, and spending has slowed considerably, recent reports show. The core consumer price index for May was at 5.3%, while the personal consumption expenditures price index increased just 0.3% for the month when excluding food and energy. “The bottom line is everybody is

vgajic | E+ | Getty Images Recent events have prompted investors and businesses to begin redeploying their savings in order to generate greater yield while protecting their principal. Their options include traditional means such as money market funds or short-duration Treasury bills and more volatile stores of value, such as gold. Some investors have even

After the Supreme Court struck down the Biden administration’s plan to wipe away about $430 billion dollars in student loan debt, many borrowers are now scrambling to figure out exactly when their next payment is due, how much they owe and whether they’ll be able to afford that bill. President Joe Biden has promised to

Everything that makes up your personhood — your values, experiences and culture — directly affects your spending habits more than you might think.   “Financial psychology is about the humanness of money: how people think, feel, behave about their money [and] their relationship with money in the past, present and future,” said financial psychologist Preston

Westend61 | Westend61 | Getty Images At the midpoint of 2023, some investors see a recession storm on the horizon while others see clear skies ahead. The recession crowd is worried about negative consumer sentiment, while the no-recession camp is heartened by more-positive-than-expected data from the University of Michigan Consumer Sentiment Survey, released in June.

Grashalex | Istock | Getty Images I started working on Wall Street in the late 1990s, and it was the heyday of the initial public offering fever. Those IPOs peaked in 2020. To that point, there were 480 IPOs on the U.S. stock market in 2020, which was an all-time record. This was 106.9% more

Pavlo Gonchar | Lightrocket | Getty Images Do you think artificial intelligence is being overhyped? Dan Niles, founder and portfolio manager of the Satori Fund, agrees. Well, sort of. The answer to that question really depends on whether you’re talking about the current moment or the long haul, said Niles during a session for CNBC’s Financial

Ethan Miller | Getty Images News | Getty Images Mortgage rates are likely to remain high despite the Federal Reserve’s pause on interest rate hikes. While that may be good sign for fixed-income funds in California, the pause is a blow to affordable housing in the state, said Fiona Ma, California state treasurer, during the

Customers outside a Silicon Valley Bank branch in Beverly Hills, California, on March 13, 2023. Lauren Justice | Bloomberg | Getty Images Most millionaires — 63% — support Congress raising FDIC coverage limits following the recent failures of Silicon Valley Bank and Signature Bank earlier this year, a new CNBC survey finds. The survey found

When it comes to buying a home now, there are plenty of challenges. But homeownership can be a great way to build wealth and to maintain housing stability, said Kamila Elliott, a certified financial planner and co-founder and CEO of Collective Wealth Partners, a boutique advisory firm in Atlanta. Achieving that goal now can be challenging, with

Getty Images This spring, millionaires felt relatively pessimistic about the economy and identified several perceived threats to personal wealth, according to CNBC’s latest millionaire survey. Millionaires believe the biggest current threat to their wealth is the stock market, with 60% expecting the S&P 500 will be down or relatively flat by the end of 2023.

Yellow Dog Productions | Getty Images With less than a week before the U.S. government faces a possible debt default, many are bracing for the economic fallout — and advisors have tips for nervous investors. Negotiations to raise the debt ceiling intensified between the White House and congressional Republicans on Thursday after a stark warning from

D3sign | Moment | Getty Images Taxpayers who use peer-to-peer payment apps like Venmo and PayPal and e-commerce companies such as eBay, Etsy and Poshmark may be receiving a new-to-them tax form next year — one that’s worth some advance planning. Starting this tax year, such companies must use a new, lower threshold when issuing