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May 23, 2022

personal finance

Buyers are making concessions to nab a home. Here’s what they’re doing

CNBC Real Estate
Westend61 | Westend61 | Getty Images In this competitive housing market, buyers are willing to make some concessions to either cut costs or land their dream home. Some 58% of U.S. adults would be willing to take action to find housing that is more affordable, with Gen Z and millennials......

Student loan forgiveness could be around the corner. What to do while you wait

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CNBC – For more and to sign up click here Kool99 | Istock | Getty Images Contact your lender Because of the pandemic-era payment pause on student loan bills, most borrowers haven’t made a payment in more than two years. Now the bills are set to arrive in mailboxes again......

NBA champion Dwyane Wade shares his three best tips for managing money

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CNBC – For more and to sign up click here Dwyane Wade still moves fast but this time it’s off the basketball court. The retired three-time NBA champion for the Miami Heat has investments in media companies and consumer products. Wade, 40, has purchased an equity stake in two sports......

As college enrollment tanks, there’s a growing push to celebrate students going into skilled trades

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CNBC – For more and to sign up click here Michael Martinez wanted to be an airline pilot. But as he got older, Martinez, now 18, decided to follow in his father’s footsteps and become a professional welder instead. In fact, the senior at Brazoswood High School in Clute, Texas,......

Americans now have an average of $9,000 less in savings than they did last year

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CNBC – For more and to sign up click here The ongoing economic effects of the Covid-19 pandemic have taken a bite out of Americans’ savings. The average amount of personal savings dropped 15% from $73,100 in 2021 to $62,086 in 2022, according to Northwestern Mutual’s recent 2022 Planning &......

Creating a special needs trust? Here are the costs, what you need to know and who to use

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CNBC – For more and to sign up click here Yagi Studio | Digitalvision | Getty Images Special needs trusts are essential for the well-being of a person with special needs, experts say. “The most important reason for a special needs trust is that individuals with special needs often are......

Recession is ‘likely,’ former SEC chief economist says. Here’s his advice for how to prepare

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CNBC – For more and to sign up click here Larry Harris Source: Larry Harris To tame the recent inflationary spike, the Federal Reserve signaled it will continue to raise interest rates. When rates are high, consumers get a better return on the money they stash in a bank account......

What to think about when saving for near-term goals amid choppy markets, rising interest rates

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As inflation soars and markets slide, many investors are wondering what’s coming next. Traditional advice dictates that long-term investors — those who are focused on retirement dates further down the road — should stay the course in the markets. But those with shorter time horizons of three- to five-years for......

Here’s what to consider before staring a side hustle

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CNBC – For more and to sign up click here Side hustles have become an increasingly popular way to boost income. But are they necessary to reach financial freedom? “The answer is no,” said Gorick Ng, author of “The Unspoken Rules,” adding that there are plenty of people who don’t......

A ‘bear market’ looms. What exactly does that mean?

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CNBC – For more and to sign up click here Phonlamaiphoto | Istock | Getty Images The S&P 500 Index fell into a so-called bear market on Friday. But just what does that mean? “Bear market” is a term used by investors to describe a steep and sustained market downturn.......

Emergency savings take a hit as households adjust their finances amid high inflation, study shows

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CNBC – For more and to sign up click here Jim Watson | AFP | Getty Images It appears emergency savings are another casualty of high inflation. About one-third of adults are contributing less to their emergency funds so that they’re able to cover their everyday expenses, according to research......

Why it’s a good time for young investors to put money in the market

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CNBC – For more and to sign up click here FG Trade | E+ | Getty Images Opportunities in the dip For young investors with the longest time horizons to plan for retirement, today’s market downturn also provides an opportunity, according to Paula Pant, host of the podcast “Afford Anything.”......

It’s best to stay the course with your 401(k) amid choppy markets. But there are moves you can make to get ahead

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CNBC – For more and to sign up click here Days of record market losses may inspire 401(k) investors to take action. Yet most experts caution against doing just that. The reason: Days when the markets are down tend to be closely followed by days when the market is up.......

Gas prices just hit a new record high. Here are a few ways to cut down the cost

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CNBC – For more and to sign up click here As the summer driving season nears, gasoline prices show no signs of slowing down. The national average for unleaded gas hit a new high of $4.59 per gallon Thursday, according to AAA. For the first time ever, the average price was $4......

Congress seeks ways to reduce Social Security customer service delays

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CNBC – For more and to sign up click here Eakgrunge | Istock | Getty Images Many people who have dialed the Social Security Administration’s toll-free number during the Covid-19 pandemic have faced long wait times. In an effort to alleviate the customer service issues, Congress this week held a......

High-yield bonds may lose appeal amid rising interest rates

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CNBC – For more and to sign up click here MoMo Productions | DigitalVision | Getty Images If you’re chasing portfolio income, you may be eyeing high-yield bonds, also known as junk bonds, which typically pay more interest but carry greater risk. Since interest rates and bond prices move in......

Op-ed: Investors need to keep their emotions under control in this volatile market

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CNBC – For more and to sign up click here NicolasMcComber | E+ | Getty Images Whether you’re new to investing or have been in the market for years, you may feel a little bit like you are lost at sea looking for a safe harbor. Investors are contending with......

Americans are more stressed about money than ever, and it’s hurting our mental health

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CNBC – For more and to sign up click here Americans are more stressed about money than they’ve ever been, according to the American Psychological Association’s latest Stress In America Survey. “Eighty-seven percent of Americans said that inflation and the rising costs of everyday goods is what’s driving their stress,”......

You might start hearing about capitulation in the markets. Here’s why you should invest anyway

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CNBC – For more and to sign up click here Nosystem Images | E+ | Getty Images Amid market turmoil, there’s a term that analysts often start throwing around: investor or market capitulation. It generally means a point at which investors throw in the towel and sell, basically giving up......

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