Advisors

The Mega Millions jackpot grew to $910 million on July 26, 2023. Tayfun Coskun | Anadolu Agency | Getty Images The Mega Millions jackpot has grown to an estimated $910 million, with the next high-stakes drawing on Friday at 11:00 p.m. ET. The big prize has only exceeded $1 billion four times, most recently reaching

Peter Cade | Getty Images Higher earners maximizing savings ahead of retirement may soon lose a tax break, thanks to 401(k) changes enacted last year. If you’re 50 or older, you can funnel extra money into your 401(k), known as “catch-up contributions.” For 2023, eligible workers can save another $7,500 after maxing out employee deferrals

Summer can be an ideal time to slow down, reflect and reset your money mindset. You also may find more time to review your financial goals — and decide whether you need a reboot. “When it comes to those who want to ‘clean’ their financial house, my advice is that you must sweep the dust

Damircudic | E+ | Getty Images The looming end of a pandemic-era pause to student loan payments and interest puts a spotlight on a big difference between two types of debt: subsidized and unsubsidized loans. Interest accrual is among the primary differences between the federal loans — also known as Stafford Loans — which are

The Powerball jackpot has reached $900 million by July 17, 2023. Justin Sullivan | Getty Images The Powerball jackpot has soared to an estimated $900 million after Saturday’s drawing went by without a winner. It’s still the third-largest prize in the game’s history ahead of Monday night’s drawing, according to Powerball. But the windfall will

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

The Powerball jackpot has reached $725 million by July 11, 2023. Medianews Group | Getty Images The Powerball jackpot topped an estimated $725 million ahead of Wednesday’s drawing, becoming the seventh-largest prize in the game’s history, according to the lottery. But those winnings drop substantially after taxes. If you score the winning ticket, there are

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

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.

D3sign | Moment | Getty Images Human psychology and money don’t mix well. Left unchecked, our psyches can easily sabotage financial decision-making, behavioral experts said during a panel discussion at CNBC’s Financial Advisor Summit.   “We’re all crazy when it comes to money,” said Brad Klontz, managing principal of YMW Advisors in Boulder, Colorado, and

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

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

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

Getty The annual contribution limit for health savings accounts, or HSAs, will soon get a sizable boost due to inflation, the IRS announced this week. For 2024, the yearly limit for self-only HSA plans is rising to $4,150 from $3,850 in 2023, and the cap for family plans is jumping to $8,300 from $7,750. The catch-up