As interest in road trips soars, Americans are hitting these 10 global hotspots

Sales of international driving permits, which can help licensed U.S. travelers rent automobiles overseas, have soared 33% in the past five years, according to AAA. “AAA has found that road trips are increasingly appealing to U.S. travelers while overseas,” Paula Twidale, vice president of AAA Travel, said in a release. Road trips meet travelers’ desire for “experiential travel” and “ways to intimately engage with their destination,” she added. In most international jurisdictions, it’s illegal to


Sales of international driving permits, which can help licensed U.S. travelers rent automobiles overseas, have soared 33% in the past five years, according to AAA.
“AAA has found that road trips are increasingly appealing to U.S. travelers while overseas,” Paula Twidale, vice president of AAA Travel, said in a release.
Road trips meet travelers’ desire for “experiential travel” and “ways to intimately engage with their destination,” she added.
In most international jurisdictions, it’s illegal to
As interest in road trips soars, Americans are hitting these 10 global hotspots Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: kenneth kiesnoski
Keywords: news, cnbc, companies, twidale, aaa, hitting, global, international, americans, travel, hotspots, trips, valid, interest, drivers, soars, travelers, foreign, license, road


As interest in road trips soars, Americans are hitting these 10 global hotspots

One-quarter of Americans plans to vacation outside the U.S. in the next 18 months, according to a new AAA survey, while 80% have already taken a foreign trip and 2 in 5 — nearly 77 million adults — have rented or used a vehicle while abroad.

Sales of international driving permits, which can help licensed U.S. travelers rent automobiles overseas, have soared 33% in the past five years, according to AAA.

“AAA has found that road trips are increasingly appealing to U.S. travelers while overseas,” Paula Twidale, vice president of AAA Travel, said in a release. Road trips meet travelers’ desire for “experiential travel” and “ways to intimately engage with their destination,” she added.

While a valid U.S. driver’s license might be all a vacationer needs to rent a car in some major foreign destinations, many other countries do not recognize them without an accompanying “IDP,” as the documents are known. In most international jurisdictions, it’s illegal to drive without both a valid license and insurance coverage.

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According to AAA, more than 150 countries accept IDPs, international legal documents that translate American state driver’s license information into 10 languages. AAA and the American Automobile Touring Alliance are the only organizations authorized by the State Department to issue IDPs. Information and IDP applications are available online at the AAA and AATA websites.

“Travelers can easily apply for an International Driving Permit with an application accessible online or in person at AAA, whether they are a member or not,” said Twidale. “The nominal $20 fee is a small price to pay for peace of mind while traveling overseas.”

AAA has also released findings about just where all those U.S. global jetsetters — drivers or not — are headed through the end of 2020. Long-popular European urban destinations and warm-weather tropical locales still head the list.


Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: kenneth kiesnoski
Keywords: news, cnbc, companies, twidale, aaa, hitting, global, international, americans, travel, hotspots, trips, valid, interest, drivers, soars, travelers, foreign, license, road


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73% of Americans rank their finances as the No. 1 stress in life, according to new Capital One CreditWise survey

This week Capital One released the results of a new CreditWise survey, in connection with National Get Smart About Credit Day. The results found that finances are the number-one cause of stress (73%) — more than politics (59%), work (49%) and family (46%). With CreditWise, users can learn more about the key factors that impact your credit score, get email alerts whenever your credit report changes and monitor your credit information. If you have good or excellent credit, you may qualify more for


This week Capital One released the results of a new CreditWise survey, in connection with National Get Smart About Credit Day.
The results found that finances are the number-one cause of stress (73%) — more than politics (59%), work (49%) and family (46%).
With CreditWise, users can learn more about the key factors that impact your credit score, get email alerts whenever your credit report changes and monitor your credit information.
If you have good or excellent credit, you may qualify more for
73% of Americans rank their finances as the No. 1 stress in life, according to new Capital One CreditWise survey Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: alexandria white
Keywords: news, cnbc, companies, stress, rank, life, credit, survey, creditwise, card, youre, capital, finances, americans, according, score, users, stressed


73% of Americans rank their finances as the No. 1 stress in life, according to new Capital One CreditWise survey

If the state of your finances is stressing you out, you’re far from alone.

This week Capital One released the results of a new CreditWise survey, in connection with National Get Smart About Credit Day. The results found that finances are the number-one cause of stress (73%) — more than politics (59%), work (49%) and family (46%).

Younger generations are even more stressed out about finances than older generations with the majority of Gen Z’ers (82%) and millennials (81%) saying finances are at least somewhat stressful.

The survey unsurprisingly found that major life events can trigger financial stress as well. More than half (62%) were stressed about their money in relationship to buying a house, 61% were stressed because of a car purchase.

Despite finances being a major cause of stress, respondents are optimistic about their financial future. Roughly two in five (42%) said they expect to be better off financially in a year from now.

However, they may not know how to achieve those goals. Only 16% of respondents are very familiar with how to improve their credit score, but more than half of the respondents (59%) are interested in learning more.

Capital One provides a free credit score and report dashboard, CreditWise. It’s free to use, and anyone can join — you don’t need to have a Capital One account.

With CreditWise, users can learn more about the key factors that impact your credit score, get email alerts whenever your credit report changes and monitor your credit information. There’s also a simulator feature that allows you to see how certain actions may impact your credit score, such as paying off debt, carrying a balance or applying for a loan. The simulator only provides estimates of the potential negative or positive impacts and the actual results may differ.

“There are millions of CreditWise users, and hundreds of thousands of those users who had a score of zero when they enrolled have since established a credit score,” Chris Gatz, head of CreditWise at Capital One, tells CNBC Select.

It can be smart to use a credit monitoring program to keep an eye on your credit score, as that three-digit number can have a big impact on the kind of credit cards you will qualify for. Typically, the higher your credit score, the better card offers you receive.

If you have good or excellent credit, you may qualify more for the best rewards credit cards, such as the Capital One® Venture® Rewards Credit Card, or a balance transfer credit card, such as the Amex EveryDay® Credit Card, compared to someone who has bad credit.

If you’re credit is subpar, you’re not out of luck. Secured cards are a great way to build credit, and CNBC Select recommends the Discover it® Secured.


Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: alexandria white
Keywords: news, cnbc, companies, stress, rank, life, credit, survey, creditwise, card, youre, capital, finances, americans, according, score, users, stressed


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Cannabis legislation progresses, yet US companies and US cannabis investors are moving in reverse

Buoyed by wide-scale public support, legislation to legalize and properly regulate cannabis in the U.S. on the state and federal level continues to gain steam. And what are the risks to U.S. companies and workers who are trying to build out this high growth, CPG (consumer packaged goods) sector? Republican Majority Leader Mitch McConnell’s endorsement of the legislation and continued support is a further testament to Washington’s growing embrace of the cannabis industry. So it comes as a surpris


Buoyed by wide-scale public support, legislation to legalize and properly regulate cannabis in the U.S. on the state and federal level continues to gain steam.
And what are the risks to U.S. companies and workers who are trying to build out this high growth, CPG (consumer packaged goods) sector?
Republican Majority Leader Mitch McConnell’s endorsement of the legislation and continued support is a further testament to Washington’s growing embrace of the cannabis industry.
So it comes as a surpris
Cannabis legislation progresses, yet US companies and US cannabis investors are moving in reverse Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: tim seymour, brady cobb
Keywords: news, cnbc, companies, street, trading, securities, cannabis, moving, investors, support, reverse, banking, americans, legislation, retail, companies, progresses


Cannabis legislation progresses, yet US companies and US cannabis investors are moving in reverse

Buoyed by wide-scale public support, legislation to legalize and properly regulate cannabis in the U.S. on the state and federal level continues to gain steam. So why are commercial and investment banks moving in the opposite direction? And what are the risks to U.S. companies and workers who are trying to build out this high growth, CPG (consumer packaged goods) sector? As a result, the U.S. retail investor has become collateral damage.

The passage of the 2018 Farm Bill, which legalized the cultivation and sale of hemp and hemp derived CBD, signaled federal acceptance and expansion of the cannabis marketplace in the United States. Republican Majority Leader Mitch McConnell’s endorsement of the legislation and continued support is a further testament to Washington’s growing embrace of the cannabis industry. And recently, the House of Representatives passed its version of the SAFE Banking Act, which would give cannabis companies access to the U.S. banking system including retail banking, credit card processing and access to institutional lending (as opposed to dilutive convertible debt financings).

So it comes as a surprise that an influential U.S. commercial bank would take a step to thwart the efforts of Americans to invest in legal cannabis companies with U.S. operations.

Bank of New York Mellon Corp., one of the largest custody and clearing banks in the world, announced earlier this month it would stop accepting positions(custody) or trading with U.S. marijuana-related businesses, a decision which would restrict trading of popular cannabis companies that are listed on Canadian exchanges, but have U.S. operations. Canadian-listed firms without U.S. operations would still be able to be traded.

BNY Mellon’s head-scratching decision has moved in the opposite direction of the thrust of U.S. public opinion. A Gallup poll conducted in 2018 found that 2 out of every 3 Americans support legalizing marijuana, while key 2020 swing states including Nevada and Michigan have adapted to voters’ concerns by legalizing recreational cannabis use.

The only way to provide lasting relief for U.S. investors in cannabis is with legislation from Washington.

Currently, if you’re a U.S. company that employs Americans and provides legal cannabis products to Americans, you have to publicly list your shares on the Canadian Securities Exchange, without the benefit of U.S. Securities and Exchange Commission oversight.

Currently, if you are a U.S. retail investor you must do cross-border trades in order to invest in cannabis stocks with all of the capital and fees flowing right out of Wall Street to Bay Street in Toronto. But more importantly, the protection of US exchanges and securities laws are also missing.


Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: tim seymour, brady cobb
Keywords: news, cnbc, companies, street, trading, securities, cannabis, moving, investors, support, reverse, banking, americans, legislation, retail, companies, progresses


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Many Americans say they’re not ready for a recession. But here are the steps they’re taking

John Lund | Getty ImagesDespite the red flags flapping for the economy, many Americans say they’re not financially prepared for the next recession. Two in 5 people say they’re not ready for an economic downturn in the next year, according to a new Bankrate poll. Here are some of the steps people said they’re taking to make the next recession less painful. During the Great Recession, some 7 million Americans were out of a job for more than six months, McBride said. Paying down debtAnother third o


John Lund | Getty ImagesDespite the red flags flapping for the economy, many Americans say they’re not financially prepared for the next recession.
Two in 5 people say they’re not ready for an economic downturn in the next year, according to a new Bankrate poll.
Here are some of the steps people said they’re taking to make the next recession less painful.
During the Great Recession, some 7 million Americans were out of a job for more than six months, McBride said.
Paying down debtAnother third o
Many Americans say they’re not ready for a recession. But here are the steps they’re taking Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: annie nova
Keywords: news, cnbc, companies, theyre, unemployment, steps, mcbride, retirement, ready, debt, americans, bankrate, savings, taking, recession, say, beyrer


Many Americans say they're not ready for a recession. But here are the steps they're taking

John Lund | Getty Images

Despite the red flags flapping for the economy, many Americans say they’re not financially prepared for the next recession. Two in 5 people say they’re not ready for an economic downturn in the next year, according to a new Bankrate poll. (Some 2,600 people were interviewed at the end of September.) “I don’t think there’s a perfect amalgamation, but you can insulate yourself to an extent,” said Greg McBride, chief financial analyst at Bankrate.com. Here are some of the steps people said they’re taking to make the next recession less painful.

Ramping up savings

A third of respondents in the Bankrate survey said they were putting away more money for an emergency and retirement. During the Great Recession, some 7 million Americans were out of a job for more than six months, McBride said. Ideally, your emergency savings would cover you during a period of unemployment and not force you to go into debt. “Building up extra savings is a great protective measure because it can help bridge the gap if your income drops,” said certified financial planner Jon Beyrer, director of wealth management at Blankinship & Foster in Solana Beach, California.

Divide your spending into “essential” and “discretionary” categories to start thinking about where you can cut back and save more, Beyrer said. “It may not be fun, but if it’s only temporary it’s more doable,” he said. A period of unemployment can also result in you missing out on the ability to contribute to your 401(k) plan, and potentially get an employee match. Saving more now can help. “If you’re closing in on retirement, this is particularly beneficial,” McBride said.

Paying down debt

Another third of people Bankrate surveyed said they were paying down debt in preparation of a recession. Not having a credit card bill will give you more breathing room if times get tight, McBride said. “It also frees up borrowing capacity, should you need it later on,” he said. Beyrer recommends listing all of your debts, their balances, payments and interest rates. Focus on paying off the debts with the highest interest rates. “Of course, not adding to debt is very important, too,” he said.

Looking for another job


Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: annie nova
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People who work from home earn more than those who commute—here’s why

Technology has radically transformed how — and where — Americans work. One Gallup survey found that 43% of Americans work from home occasionally. There’s evidence that even more Americans would work from home if they could. The median earnings for a person who works from home were $42,442 in 2018, far above the median earnings for all workers which were closer to $38,184. Last year, median earnings were $21,752 for those who walked to work; $40,184 for those who drove; $30,338 for those who carp


Technology has radically transformed how — and where — Americans work. One Gallup survey found that 43% of Americans work from home occasionally. There’s evidence that even more Americans would work from home if they could. The median earnings for a person who works from home were $42,442 in 2018, far above the median earnings for all workers which were closer to $38,184. Last year, median earnings were $21,752 for those who walked to work; $40,184 for those who drove; $30,338 for those who carp
People who work from home earn more than those who commute—here’s why Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-13  Authors: abigail hess
Keywords: news, cnbc, companies, census, median, work, earnings, workers, transportation, walked, earn, americans, commuteheres, working, worked


People who work from home earn more than those who commute—here's why

Technology has radically transformed how — and where — Americans work.

Working remotely is more popular than ever before. One Gallup survey found that 43% of Americans work from home occasionally. That’s up from 39% of those who did in 2012.

And according to Quartz, U.S. Census data indicates that 5.2% of U.S. workers completely worked at home in 2017 — that’s about 8 million people.

There’s evidence that even more Americans would work from home if they could.

A recent survey of 2,000 working professionals and 1,000 hiring managers by LinkedIn found that 82% of workers want to work from home at least one day per week, and 57% want to work from home at least three days per week.

While it is not surprising that people are interested in forgoing their commutes and working from the comfort of their couch, data from the U.S. Census Bureau shows that telecommuting can also pay more.

The Census Bureau estimates that in 2018, employees who worked at home out-earned those who walked, drove, carpooled, or took public transportation to get to work.

The median earnings for a person who works from home were $42,442 in 2018, far above the median earnings for all workers which were closer to $38,184.

Last year, median earnings were $21,752 for those who walked to work; $40,184 for those who drove; $30,338 for those who carpooled and $40,519 for those who took public transportation.


Company: cnbc, Activity: cnbc, Date: 2019-10-13  Authors: abigail hess
Keywords: news, cnbc, companies, census, median, work, earnings, workers, transportation, walked, earn, americans, commuteheres, working, worked


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Only 15% of Americans can identify Twitter CEO Jack Dorsey in a photo

Despite being CEO of one of the most well-known tech companies in the world and having 4.2 million Twitter followers, only 15% of 4,272 adults who answered a Pew Research Center survey about digital knowledge were able to identify Twitter and Square CEO Jack Dorsey from a photo. The survey question asked people who the “technology leader” photographed was and presented a few multiple-choice options. When the data were further broken down, 23% of survey respondents who had a bachelor’s degree or


Despite being CEO of one of the most well-known tech companies in the world and having 4.2 million Twitter followers, only 15% of 4,272 adults who answered a Pew Research Center survey about digital knowledge were able to identify Twitter and Square CEO Jack Dorsey from a photo. The survey question asked people who the “technology leader” photographed was and presented a few multiple-choice options. When the data were further broken down, 23% of survey respondents who had a bachelor’s degree or
Only 15% of Americans can identify Twitter CEO Jack Dorsey in a photo Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-11  Authors: cory stieg
Keywords: news, cnbc, companies, respondents, jack, asked, ceo, survey, answered, twitter, tech, americans, question, cofounder, identify, dorsey


Only 15% of Americans can identify Twitter CEO Jack Dorsey in a photo

Do you know who this man is?

Despite being CEO of one of the most well-known tech companies in the world and having 4.2 million Twitter followers, only 15% of 4,272 adults who answered a Pew Research Center survey about digital knowledge were able to identify Twitter and Square CEO Jack Dorsey from a photo.

The survey question asked people who the “technology leader” photographed was and presented a few multiple-choice options. The selections included high-profile founders such as Elon Musk, co-founder of Telsa, as well as Google co-founder Sergey Brin and Uber co-founder Travis Kalanick.

A whopping 77% of people said they didn’t know Dorsey, while 7% guessed incorrectly. This question yielded the most amount of “unsure” responses in the entire survey.

When the data were further broken down, 23% of survey respondents who had a bachelor’s degree or higher were able to clock Dorsey in the photo. Age was another factor that influenced their awareness: 20% of those ages 18 to 29 answered correctly, compared to only 7% of people ages 65 and up.

The photo in question was from Dorsey’s April 2019 TED Talk. In it, he’s wearing a black beanie, and has a long beard.

Dorsey was the only tech leader respondents were asked to identify. But those surveyed also lacked knowledge about other prominent social media platforms. Only 29% of Americans knew that messaging app WhatsApp and Instagram are owned by Facebook, for example.

The rest of the survey contained more general questions about internet use. For example, the survey asked people how “private browsing” works, what “net neutrality” means and what two-factor authentication looks like on a web page.

Younger adults (defined as 18 to 29) answered more questions correctly than those in the 65-plus group, suggesting that they might be more internet literate.

These findings are part of a larger Pew Research Center survey called the American Trends Panel.

Don’t miss:


Company: cnbc, Activity: cnbc, Date: 2019-10-11  Authors: cory stieg
Keywords: news, cnbc, companies, respondents, jack, asked, ceo, survey, answered, twitter, tech, americans, question, cofounder, identify, dorsey


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Many Americans say their financial situation is worse since the Great Recession

The Great Recession has officially been over for a decade, but for many Americans, there’s still little reason to celebrate. Many people’s finances haven’t recovered from the recession’s blows, according to a survey by personal finance website Bankrate.com. More than half of Americans who were adults amid the Great Recession said they endured some type of negative financial impact, Bankrate found. And half of those people say they’re doing worse now than before the crisis. More than half of U.S.


The Great Recession has officially been over for a decade, but for many Americans, there’s still little reason to celebrate. Many people’s finances haven’t recovered from the recession’s blows, according to a survey by personal finance website Bankrate.com. More than half of Americans who were adults amid the Great Recession said they endured some type of negative financial impact, Bankrate found. And half of those people say they’re doing worse now than before the crisis. More than half of U.S.
Many Americans say their financial situation is worse since the Great Recession Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-11  Authors: annie nova
Keywords: news, cnbc, companies, americans, website, say, york, turn, situation, took, great, recession, financial, type, half, worse


Many Americans say their financial situation is worse since the Great Recession

Pedestrians pass in front of the New York Stock Exchange.

The Great Recession has officially been over for a decade, but for many Americans, there’s still little reason to celebrate.

Many people’s finances haven’t recovered from the recession’s blows, according to a survey by personal finance website Bankrate.com.

“There are still tens of millions who are struggling to even get back to where they were before the economy took a turn for the worse,” said Mark Hamrick, senior economic analyst at Bankrate.com.

More than half of Americans who were adults amid the Great Recession said they endured some type of negative financial impact, Bankrate found. And half of those people say they’re doing worse now than before the crisis.

More than half of U.S. households have no emergency savings, AARP recently found.


Company: cnbc, Activity: cnbc, Date: 2019-10-11  Authors: annie nova
Keywords: news, cnbc, companies, americans, website, say, york, turn, situation, took, great, recession, financial, type, half, worse


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US says troops in Syria came under Turkish fire; says area was ‘known by the Turks’ to have Americans present

Trump says the US has come to a substantial phase one deal with…Mnuchin said that the U.S. won’t impose a new round of tariffs on imports of Chinese goods, which were set to go into effect Oct. 15. Politicsread more


Trump says the US has come to a substantial phase one deal with…Mnuchin said that the U.S. won’t impose a new round of tariffs on imports of Chinese goods, which were set to go into effect Oct. 15. Politicsread more
US says troops in Syria came under Turkish fire; says area was ‘known by the Turks’ to have Americans present Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-11
Keywords: news, cnbc, companies, present, withmnuchin, substantial, set, impose, phase, americans, turks, wont, tariffs, oct, area, trump, round, known, syria, came, turkish, troops


US says troops in Syria came under Turkish fire; says area was 'known by the Turks' to have Americans present

Trump says the US has come to a substantial phase one deal with…

Mnuchin said that the U.S. won’t impose a new round of tariffs on imports of Chinese goods, which were set to go into effect Oct. 15.

Politics

read more


Company: cnbc, Activity: cnbc, Date: 2019-10-11
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Nearly 1 in 5 Americans are stashing cash at home in fear of a recession

The ongoing conversation around if and when the U.S. will enter a recession is prompting many Americans to make some potentially costly mistakes when it comes to their money. Based on their fears of a potential recession, 17% of Americans have started hiding cash in their home, according to a new poll from MetLife of over 8,000 U.S. adults over the age of 18. Between 1926 and 2015, an aggressive portfolio actually netted higher average returns than a conservative portfolio, investment company Va


The ongoing conversation around if and when the U.S. will enter a recession is prompting many Americans to make some potentially costly mistakes when it comes to their money. Based on their fears of a potential recession, 17% of Americans have started hiding cash in their home, according to a new poll from MetLife of over 8,000 U.S. adults over the age of 18. Between 1926 and 2015, an aggressive portfolio actually netted higher average returns than a conservative portfolio, investment company Va
Nearly 1 in 5 Americans are stashing cash at home in fear of a recession Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: megan leonhardt
Keywords: news, cnbc, companies, stashing, recession, living, youre, money, cash, job, savings, portfolio, investments, nearly, going, fear, americans


Nearly 1 in 5 Americans are stashing cash at home in fear of a recession

The ongoing conversation around if and when the U.S. will enter a recession is prompting many Americans to make some potentially costly mistakes when it comes to their money. Based on their fears of a potential recession, 17% of Americans have started hiding cash in their home, according to a new poll from MetLife of over 8,000 U.S. adults over the age of 18. And 21% of respondents report they have become more conservative with their money. Making these kinds of moves can prove costly. If you’re hiding cash in your home, you’re not able to take advantage of compound interest, which helps your money grow exponentially the longer you have it invested. Plus, inflation actually eats away at the value of your money, so leaving large amounts of cash lying around can make it harder to achieve your long-term financial goals. “Hiding cash in your house is one of the worst things you can do,” Erin Lowry, author of “Broke Millennial Takes on Investing,” tells CNBC Make It. Beyond the financial implications, there’s also the possibility that the money could get forgotten or destroyed. Meanwhile, if you move your money into investments that are too conservative while you’re young, you may lose out on opportunities to grow your money at higher rates. Between 1926 and 2015, an aggressive portfolio actually netted higher average returns than a conservative portfolio, investment company Vanguard found.

Even people who are not going to extremes are being influenced by all the talk of a recession. About 41% of Americans say they check their investments more frequently because of talk about the potential for a market downturn, according to MetLife’s survey. “That’s 100% the wrong move — because it’s going to freak you out,” Lowry says. If your investments are properly designed to withstand the ups and downs of the market, checking on them is just going to make you anxious and provoke an emotional reaction. “What you need to be controlling for is you,” Lowry says. One of the biggest mistakes you can make — especially if you have a well-built portfolio — is panicking and selling off your investments. If you get out of the market and then wait too long to jump back in, you may miss the upswing, which could prove a costly error in the long run.

Building a balanced portfolio means spreading out your money by investing in different types of assets, such as stocks and bonds, in a variety of different sectors. This lowers the risk that your entire investment will be wiped out if something happens to one particular company or industry. You can put this type of portfolio together yourself or you could opt to work with a professional or invest through so-called robo-advisors, which typically manage your money for you. Beyond having a well-balanced portfolio, here are three simple, positive steps you can take to help mitigate any impact a potential recession might have on your finances.

1. Build up a savings cushion

One way to prepare for any financial setback is to have an emergency savings account. “You should be having at least three months,” says Tiffany Aliche, personal finance expert and founder of The Budgetnista. However, saving up only three months of living expenses is for someone who knows they can get a job quickly, she adds. For example, a nurse. Nurses are in high demand and it’s a job that you can find pretty much everywhere. But if you have a specialized job, such as an aerospace engineer or a psychobiologist, it may be more difficult and take longer to find another position if you’re laid off. In that case, you should aim to put away more than three months’ worth of emergency savings, likely closer to a year or more. Many people are already. About 40% of Americans say they have started saving more money to support themselves should the U.S. experience an economic downturn, according to MetLife’s survey.

2. Cut back your spending

Almost half of Americans, 43%, told MetLife they’re living paycheck to paycheck. If that’s you, take the time to get your finances in good shape before a downturn hits. Put together a monthly budget so you can identify where you’re spending money and where it may be possible to trim, Aliche recommends. This is going to look different for everyone. For example, it might mean packing your lunch more often or opting for a cheaper cable package — or it may require some bigger changes, such as finding a more affordable apartment. But if you’re able to live below your means, it gives you a bigger savings cushion and some breathing room if you lose your job. That’s because if a recession does occur, you may need to worry about unemployment. When economic growth slows, companies typically generate less revenue and may need to lay off employees. “You should not be living at capacity because you want to be able to pivot,” Aliche says. When the last recession hit, Aliche lost her $50,000 teaching job at a non-profit school. But because she was only spending about $30,000 a year, it was easier for her to find a collection of jobs that covered her living expenses.

3. Keep investing


Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: megan leonhardt
Keywords: news, cnbc, companies, stashing, recession, living, youre, money, cash, job, savings, portfolio, investments, nearly, going, fear, americans


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American Airlines shuffles top staff after key customer service executive steps down

Kerry Philipovitch, senior vice president of customer experience, handling areas from reservations, customer service, baggage and premium service, will retire at the end of the year, the airline said Thursday. A spokesman called the departure of Philipovitch, 49, who has been in the role at American since 2013, “entirely voluntary.” We haven’t been consistently hitting the mark, and that’s not fair to our team or our customers,” American’s president, Robert Isom, said in a note to employees. Hea


Kerry Philipovitch, senior vice president of customer experience, handling areas from reservations, customer service, baggage and premium service, will retire at the end of the year, the airline said Thursday. A spokesman called the departure of Philipovitch, 49, who has been in the role at American since 2013, “entirely voluntary.” We haven’t been consistently hitting the mark, and that’s not fair to our team or our customers,” American’s president, Robert Isom, said in a note to employees. Hea
American Airlines shuffles top staff after key customer service executive steps down Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: leslie josephs
Keywords: news, cnbc, companies, changes, key, senior, americans, operations, vice, isom, airlines, role, service, shuffles, steps, experience, staff, executive, customer, president, american


American Airlines shuffles top staff after key customer service executive steps down

American Airlines is shuffling some of its top executives after a key departure and struggles with its operations that led to hundreds of flight cancellations and long delays over the past few months.

Kerry Philipovitch, senior vice president of customer experience, handling areas from reservations, customer service, baggage and premium service, will retire at the end of the year, the airline said Thursday. A spokesman called the departure of Philipovitch, 49, who has been in the role at American since 2013, “entirely voluntary.”

The changes come amid growing pressure on American’s CEO, Doug Parker, to improve the Fort Worth, Texas-based carrier’s operations after it faced hundreds of cancellations over the summer, angering customers and employees. American’s stock is down more than 15% so far this year while Delta and United are each up 4%.

American has blamed many of the delays and cancellations on the unions representing its mechanics, which it accused of conducting an illegal work slowdown to gain leverage in contract talks, accusations the unions have denied. Negotiations resumed last month.

“The most important thing we can do to make culture a competitive advantage and deliver a world-class customer experience is run a safe and reliable operation. We haven’t been consistently hitting the mark, and that’s not fair to our team or our customers,” American’s president, Robert Isom, said in a note to employees.

The airline has made recent improvements, however. In September, nearly 83% of American’s flights arrived on time, its best month since November 2017 and more than 4 percentage points higher than the year-earlier period.

“The changes we’re announcing today will help build on that momentum and ensure we’re operating better than ever by increasing coordination across all operations functions,” Isom said.

The changes will mean Isom will have four direct reports, down from five, since American won’t replace Philipovitch.

David Seymour, for example, will expand his role as head of operations to take on Philipovitch’s tasks of managing airport operations.

Head of network planning, Vasu Raja, who was promoted to senior vice president, will add airline alliances and partnerships to his role. Joint ventures and equity stakes have become more important to airlines as they expand because foreign ownership rules prevent carriers from buying foreign airlines outright. Last month, rival Delta announced a surprise minority stake in American’s longtime Latin American partner LATAM, the region’s largest airline.

Kurt Stache, senior vice president of loyalty and marketing, will take on passenger experience management, which Philiopovich previously handled.

The changes will mean Isom will have four direct reports, down from five.


Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: leslie josephs
Keywords: news, cnbc, companies, changes, key, senior, americans, operations, vice, isom, airlines, role, service, shuffles, steps, experience, staff, executive, customer, president, american


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