This woman sold her app for $85 million — here’s the common mistake she sees in start-ups

Mette LykkeBuilding a high-value business takes patience and entrepreneurs shouldn’t believe that start-ups reach multi-million-dollar valuations overnight, a successful Danish businesswoman has warned. When it comes to growing a start-up, Mette Lykke, CEO of food waste organization Too Good To Go, speaks from experience. Endomondo was sold to the U.S. athleticwear brand in 2015 for $85 million, and Lykke stayed on as its CEO until 2017. “My first company was designed to make fitness fun, and no


Mette LykkeBuilding a high-value business takes patience and entrepreneurs shouldn’t believe that start-ups reach multi-million-dollar valuations overnight, a successful Danish businesswoman has warned. When it comes to growing a start-up, Mette Lykke, CEO of food waste organization Too Good To Go, speaks from experience. Endomondo was sold to the U.S. athleticwear brand in 2015 for $85 million, and Lykke stayed on as its CEO until 2017. “My first company was designed to make fitness fun, and no
This woman sold her app for $85 million — here’s the common mistake she sees in start-ups Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: chloe taylor
Keywords: news, cnbc, companies, really, sees, mistake, app, food, business, sold, common, waste, team, 85, company, woman, startups, works, purpose, heres, lykke, work, million


This woman sold her app for $85 million — here's the common mistake she sees in start-ups

Mette Lykke

Building a high-value business takes patience and entrepreneurs shouldn’t believe that start-ups reach multi-million-dollar valuations overnight, a successful Danish businesswoman has warned. When it comes to growing a start-up, Mette Lykke, CEO of food waste organization Too Good To Go, speaks from experience. She co-founded fitness app Endomondo in 2007, developing the company for almost a decade before it gained enough interest to be acquired by American firm Under Armour. Endomondo was sold to the U.S. athleticwear brand in 2015 for $85 million, and Lykke stayed on as its CEO until 2017.

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According to Lykke, who began her career as a management consultant, a business can only experience vast growth rates if the people at its reins exercise what she calls “patient impatience.” “Every day you have to push (yourself) and you have to be willing to do that for quite a while,” she said. “I think a lot of stories about start-ups give the impression that two guys start a company in a basement and boom, two years later they change the world. That’s just not how it works – it takes years, so working hard every day is crucial.”

Be clear on your purpose

For the past two years, Lykke has been the CEO of Too Good To Go — an organization that works with restaurants and food retailers to tackle waste by selling food at a discounted price. The app has 11 million users and works with 22,000 stores across 11 countries. Her involvement with the company began around 9 months after the service was launched, when a friend who knew its founders showed her the app. “I thought it was such a cool concept,” she told CNBC. “I got invited to invest and then was asked to help the founders run the business.” She said her core driving force when it came to work was being part of a company that had a strong purpose and could make a real impact. “I work a lot and put everything into it, so I want to do something that really matters,” she explained. “My first company was designed to make fitness fun, and now I have an even stronger purpose in tackling food waste. I just hadn’t realized the scale of this problem, but it had always been natural to me not to throw away food.” Entrepreneurs looking to grow a company needed to follow her lead and work on something that they felt was meaningful, Lykke added. “Make sure you’re really, really passionate about what you do — that’s fundamental,” she said. “There are going to be days and nights where, if you don’t have that passion, it’s going to be too difficult.”

As well as being passionate about their business, start-up founders needed to build a team who believed in the purpose of the company. “Being clear about the company’s vision is important, (but) the people you find for your team need to believe what you believe — it’s important to establish that team really early on,” Lykke told CNBC. She noted that having a strong ethical purpose was also a big competitive advantage, helping to attract both talented employees and investors.

Seek advice — and share it too


Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: chloe taylor
Keywords: news, cnbc, companies, really, sees, mistake, app, food, business, sold, common, waste, team, 85, company, woman, startups, works, purpose, heres, lykke, work, million


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Surveillance videos show alleged criminals attacking ATMs — and the crime is getting more common

The U.S. Secret Service gave CNBC surveillance video from two incidents that showed people attacking ATMs in broad daylight. These are two alleged criminals that dressed up as ATM workers to attack an ATM, according to the U.S. Secret Service. And there was pedestrian traffic,” said Greg Naranjo, a Secret Service special agent in charge from the Miami field office. Greg Naranjo is a Secret Service special agent in charge from the Miami field office. “When that street thug walks away with the mon


The U.S. Secret Service gave CNBC surveillance video from two incidents that showed people attacking ATMs in broad daylight. These are two alleged criminals that dressed up as ATM workers to attack an ATM, according to the U.S. Secret Service. And there was pedestrian traffic,” said Greg Naranjo, a Secret Service special agent in charge from the Miami field office. Greg Naranjo is a Secret Service special agent in charge from the Miami field office. “When that street thug walks away with the mon
Surveillance videos show alleged criminals attacking ATMs — and the crime is getting more common Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: jennifer schlesinger andrea day, jennifer schlesinger, andrea day
Keywords: news, cnbc, companies, attacking, alleged, atm, theyre, secret, money, ibm, attacks, criminals, videos, common, service, xforce, getting, crime, source, atms, surveillance


Surveillance videos show alleged criminals attacking ATMs — and the crime is getting more common

The recent Capital One breach of more than 100 million customer records has left consumers worrying about banking safety. But the threats extend far beyond customer records, as hackers are increasingly finding ways to attack ATMs. “We know for a fact that ATM crime and fraud does cost the banking industry and financial services industry billions of dollars per year,” said David Tente the executive director for the U.S. and Americas for the ATM Industry Association, ATMIA. The trade group includes financial institutions as well as ATM manufacturers. The U.S. Secret Service gave CNBC surveillance video from two incidents that showed people attacking ATMs in broad daylight.

These are two alleged criminals that dressed up as ATM workers to attack an ATM, according to the U.S. Secret Service. Source: U.S. Secret Service

“I’ve seen surveillance footage of technicians dressed up as actual technicians come up to a department store where the ATM was located right by the front door. And there was pedestrian traffic,” said Greg Naranjo, a Secret Service special agent in charge from the Miami field office. “And they’re working on this ATM for approximately 30 minutes when they finally install their device and depart and then have the cashing crew come in and cash out the machine,” These attacks and others cost $3.5 million between late 2017 and early 2018, according to the Secret Service, which protects Americans from financial crimes.

Greg Naranjo is a Secret Service special agent in charge from the Miami field office. Source: CNBC

For these physical attacks, one criminal plants a device on the back of the ATM, which is one reason why . Depending on how it’s programmed, the machine could just spit out cash. But most of the time, criminal accomplices walk up and insert a card and enter a PIN to make it look like they’re real customers. To learn how to pull the attacks off, Naranjo says, criminal gangs have set up training facilities in South and Central America. “They have stolen machines from banks. They have training rooms with different types of ATMs,” he said. Physical attacks like these are on the rise. In a recent survey of ATM operators that the ATMIA shared with CNBC, 57 percent of respondents said physical attacks are increasing. The survey also found that stand-alone ATMs not connected to a bank were the most common for fraud. Stores and shopping malls were other common locations for fraud.

David Tente is the executive director for the U.S. and Americas for the ATM Industry Association, ATMIA. Source: CNBC

Physical attacks are not the only threat ATMs need to watch out for. Hackers can remotely access a bank’s servers to get it to allow ATM transactions, according to IBM Security’s X-Force Red, a team that does penetration testing. “We intercept the traffic, the response from the bank and change the ‘deny’ response to an approval,” said David Byrne, the global head of methodology for X-Force Red.

David Byrne is a global hacking methodology expert for IBM Security’s X-Force Red. He demonstrates how to refill an ATM. Source: CNBC

CNBC visited IBM’s ATM testing lab outside Toronto where the team demonstrated how this attack worked. Byrne demonstrated how a CNBC reporter could take out money using a grocery loyalty card and an old student ID. Any card with a magnetic stripe would work.

ATMs inside IBM Security’s ATM testing lab outside Toronto, Canada. Source: CNBC

“The street thug that the hacker mastermind sends out could conceivably sit here and just collect money after money after money until the ATM is empty,” said Charles Henderson, the global managing partner of X-Force Red. “When that street thug walks away with the money from an ATM, they’re gone forever.” IBM has seen a 500 percent increase in ATM testing demand from banks. “They’re seeing the attacks in the wild, and they’re trying to get ahead of the criminals,” Henderson said. “The thing about these machines is they’re very often connected to the internet…That’s a very important vulnerability, and one that we exploit in a lot of our ATM testing.”

Charles Henderson is the global managing partner of IBM Security’s X-Force Red. Source: CNBC


Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: jennifer schlesinger andrea day, jennifer schlesinger, andrea day
Keywords: news, cnbc, companies, attacking, alleged, atm, theyre, secret, money, ibm, attacks, criminals, videos, common, service, xforce, getting, crime, source, atms, surveillance


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15 of the most common flexible side jobs and how much they pay

Today, roughly 30% of Americans with a side hustle say they need the extra income to help cover their living expenses. Using data from its platform, FlexJobs created a list of the 15 most common side jobs that you can apply to today. Each of these positions are either part-time employee roles or freelance jobs, with many of them providing the flexibility to work from home. All of these jobs also pay an average salary of at least $14 per hour, with management consulting roles paying $60 per hour,


Today, roughly 30% of Americans with a side hustle say they need the extra income to help cover their living expenses. Using data from its platform, FlexJobs created a list of the 15 most common side jobs that you can apply to today. Each of these positions are either part-time employee roles or freelance jobs, with many of them providing the flexibility to work from home. All of these jobs also pay an average salary of at least $14 per hour, with management consulting roles paying $60 per hour,
15 of the most common flexible side jobs and how much they pay Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: courtney connley
Keywords: news, cnbc, companies, flexible, apply, extra, jobs, youre, income, work, 15, pay, roles, common, today, hour


15 of the most common flexible side jobs and how much they pay

Today, roughly 30% of Americans with a side hustle say they need the extra income to help cover their living expenses.

Using data from its platform, FlexJobs created a list of the 15 most common side jobs that you can apply to today. Each of these positions are either part-time employee roles or freelance jobs, with many of them providing the flexibility to work from home. All of these jobs also pay an average salary of at least $14 per hour, with management consulting roles paying $60 per hour, according to PayScale data.

Check below to see which common side jobs you should apply to if you’re looking to bring in some extra income:


Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: courtney connley
Keywords: news, cnbc, companies, flexible, apply, extra, jobs, youre, income, work, 15, pay, roles, common, today, hour


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Don’t make these 6 common mistakes and do Amazon Prime Day right

To get the most out of the sales event, here are some common mistakes to avoid when shopping on Prime Day. “If there’s something you’ve been planning to buy, by all means wait for Prime Day to see if it goes on sale. Assuming Prime Day has the best pricesOf course, you might not have to wait to get that specific big-ticket item on sale. “Amazon is offering limited deals now so waiting for Prime Day could mean missing out on big savings,” says Woroch. Missing out on additional dealsAhead of Prime


To get the most out of the sales event, here are some common mistakes to avoid when shopping on Prime Day. “If there’s something you’ve been planning to buy, by all means wait for Prime Day to see if it goes on sale. Assuming Prime Day has the best pricesOf course, you might not have to wait to get that specific big-ticket item on sale. “Amazon is offering limited deals now so waiting for Prime Day could mean missing out on big savings,” says Woroch. Missing out on additional dealsAhead of Prime
Don’t make these 6 common mistakes and do Amazon Prime Day right Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: tom huddleston jr
Keywords: news, cnbc, companies, dont, event, amazon, offering, prime, products, mistakes, common, right, trial, free, woroch, day, deals


Don't make these 6 common mistakes and do Amazon Prime Day right

Amazon’s Prime Day kicks off at midnight on Monday, July 15. In recent years, Amazon’s Prime Day has become one of the most anticipated sales events of the year for online shoppers looking for deals — and, maybe, an excuse to splurge. And, for Amazon, the annual event has become successful enough that the e-commerce giant decided to double-down this year. Last year’s Prime Day was the “biggest in history” for Amazon, the company said at the time, with Prime members buying over 100 million products and sales on the site increasing by more than 400% over a typical day. This year, Amazon will look to improve on those numbers with a Prime Day event that will stretch over two full days for the first time, on July 15 and 16. That means 48 hours of “more than one million deals” on products ranging from smart TVs to household items like paper towels, according to Amazon. To get the most out of the sales event, here are some common mistakes to avoid when shopping on Prime Day.

1. Paying $119 for Prime to participate

Yes, only Amazon subscribers can participate in all of the Prime Day deals, but even if you’re not already a subscriber, you don’t have to pay the $119 yearly fee to take advantage. First of all, new subscribers can sign up for a 30-day free trial and get access to the deals. But, if you’ve already used up your free trial in the past 12 months — which would block you from getting another free trial — consumer savings expert Andrea Woroch notes that you can also consider signing up for just a one-month membership for $12.99 (or, just $6.49 if you’re still a student). But, Woroch tells CNBC Make It, only do that if you’re absolutely sure there are a few great deals available to make up for that month-long subscription. “Only do this if there’s an amazing deal on something you were planning to buy in which the savings are greater than this fee,” Woroch says. “Otherwise, perhaps you can ask a friend [with a Prime subscription] to buy it for you!” And, always remember to read the fine print when you sign up for either the free trial or a month-long Prime membership. Once your trial ends, Amazon will automatically enroll you in the paid membership plan unless you manually turn off the automatic renewal option before your trial or month-long subscription ends.

2. Forgetting to check your Amazon account beforehand

Double-check to ensure your credit card info, account and shipping info are up to date. You don’t want to find out you need to update an expired credit card mid-purchase if you only have a limited amount of time to secure one of Amazon Prime Day’s limited-time “lightning deals.”

3. Not planning ahead — and then falling down the Prime Day rabbit hole

One of the biggest challenges for online shoppers during Prime Day is that so many products will be discounted — over a million, in fact, according to Amazon — so, it’s important to have an idea of what you want to buy beforehand, says Rick Broida, CNET’s online deal expert and author of the blog The Cheapskate. Broida notes that just because Prime Day lasts for two days this year, that shouldn’t change how shoppers prepare for the event. “The most important advice I can give is to plan ahead,” Broida tells CNBC Make It. “If there’s something you’ve been planning to buy, by all means wait for Prime Day to see if it goes on sale. If it does, grab it, because many items will sell out quickly.” Another good way to sort through all the deals on offer is to download the Amazon app and enable alerts, Broida says. Amazon posts new deals every few minutes, and many are limited-time offers, so you’ll want to know exactly when an item you were already thinking about buying goes on sale.

4. Assuming Prime Day has the best prices

Of course, you might not have to wait to get that specific big-ticket item on sale. Broida and Woroch both point out that Amazon has already been trickling out limited deals in the weeks ahead of the two-day Prime Day event. “Amazon is offering limited deals now so waiting for Prime Day could mean missing out on big savings,” says Woroch. For instance, Amazon is already selling a bundled deal of an Echo Dot smart speaker and a Ring Video Doorbell Pro for $169 (the list price would be nearly $299), and the site is also offering 30% off many back to school and college products. And, by all means, remember to shop around. Amazon is not the only retailer offering deals. Woroch points out that Amazon rival Walmart’s “Google Week ” runs from July 8 to July 16, and it includes limited-time deals on Google products. Like Walmart, other retailers — like Target, Macy’s and eBay — have taken note of Amazon’s Prime Day success and are offering their own mid-July deals in an effort to lure online shoppers.

5. Missing out on additional deals

Ahead of Prime Day, Amazon is offering multiple ways to save money during the event, including a $10 credit to use on Prime Day sales that you can land the first time you download and shop on the Amazon app. You can also score a $10 credit (off any purchase worth $50) by signing up for the free Amazon Assistant service, a web browser plugin that helps you find order updates, deals and product comparisons on Amazon. And, you can also get $10 to spend during Prime Day if you spend at least $10 at Whole Foods (which Amazon bought in 2017) or on Prime Now before July 16.

6. Making impulse purchases


Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: tom huddleston jr
Keywords: news, cnbc, companies, dont, event, amazon, offering, prime, products, mistakes, common, right, trial, free, woroch, day, deals


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A ‘CEO whisperer’ who charges 5 figures a month shares the 2 most common problems he sees

“They look at me like I’m a spaceship because they don’t feel like they deserve to be having fun,” he says. In fact, it’s one of the most common problems he needs to fix among executives and CEOs: They no longer like their job. So Weiss helped him create an environment that encouraged risk-taking ­— even if it resulted in failure. This small change helped to not only to inspire his team to be more creative but helped the executive reignite his passion for the job. However, around 50% of executiv


“They look at me like I’m a spaceship because they don’t feel like they deserve to be having fun,” he says. In fact, it’s one of the most common problems he needs to fix among executives and CEOs: They no longer like their job. So Weiss helped him create an environment that encouraged risk-taking ­— even if it resulted in failure. This small change helped to not only to inspire his team to be more creative but helped the executive reignite his passion for the job. However, around 50% of executiv
A ‘CEO whisperer’ who charges 5 figures a month shares the 2 most common problems he sees Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: jade scipioni
Keywords: news, cnbc, companies, ceo, dont, shares, month, helped, weiss, team, charges, sees, work, things, executives, figures, coaching, whisperer, change, problems, ceos, common


A 'CEO whisperer' who charges 5 figures a month shares the 2 most common problems he sees

Alan Weiss — who calls himself the “million dollar” coach for his expertise in helping people and businesses bring in big profits — says it takes a lot of “tough love” for him to fix a CEO’s professional problems. Weiss, CEO and founder of Summit Consulting Group, has coached more than 340 executives and CEOs from Fortune 500 corporations such as Merck, Hewlett-Packard, GE and the Federal Reserve over the last 30-plus years. He says he now typically charges companies and executives $35,000 to $40,000 a month for one-on-one coaching, as well as $15,000 to $25,000 per person to participate in his two- to three-day small group boot camps. Weiss says while he has been called in to help with every workplace issue under the sun, the two most common problems he sees among CEOs are some of the same issues most workers deal with.

‘They’re not having fun anymore’

The 73-year-old consultant, who is currently coaching six executives from various industries including tech, pharma and media, says the first thing he does with executives is have them “metaphorically clean off their desktop” so they can focus on coaching and diagnose the problem at hand. Then he asks what is usually his first coaching question: Are you having fun? “They look at me like I’m a spaceship because they don’t feel like they deserve to be having fun,” he says. In fact, it’s one of the most common problems he needs to fix among executives and CEOs: They no longer like their job. The solution, says Weiss, is to find and focus on what still “jazzes” someone about their work. For example, one leader at a large company thrived off innovation and creativity, but his team wasn’t delivering in that area. So Weiss helped him create an environment that encouraged risk-taking ­— even if it resulted in failure. “What he did was at the end of the year when they had their annual awards ceremony to reward those who had high sales or the best service, he started giving out an award for ‘the best idea that didn’t work’,” says Weiss, who wrote the book “Million Dollar Consulting. This small change helped to not only to inspire his team to be more creative but helped the executive reignite his passion for the job. Weiss also often encourages his clients “to go see their customers or go walk around and talk to their employees,” he says, and since most people get excited to show off their skills and teach others what they know, Weiss encourages mentorship.

They believe ‘nobody can do things as well I can’

Weiss says he once worked with a newbie CEO of a billion-dollar organization who was putting in about 80 hours a week because he was convinced that to get things done right, he had to do everything himself; it made his employees feel micromanaged and his wife unhappy. While it’s important to work hard, working hard on the wrong things or things that don’t matter can lead down a dark and unsuccessful road, says Weiss. And that feeling of “nobody can do things as well or as fast as I can,” is the other big issue he sees in leaders. The key to effective delegating is to help people understand that “there’s no such thing as perfection. It doesn’t exist, and perfection always kills excellence,” Weiss says. With the 80-hour executive, Weiss says he helped him understand that when an employee is performing tasks that are “good enough,” leave it at that and move on. With that understanding, Weiss helped the executive identify the high-level tasks he absolutely had to do due to his level of expertise, but he also helped him figure out who on his team could best handle the rest of the work. After learning to delegate, his client eventually reduced his hours to around 60 a week, making both his employees happier and his wife “ecstatic.”

How to make a change

Despite the hefty retainer, Weiss says about 25% of his clients will likely never change. “They are scared because they don’t want to admit that they’ve been doing something wrong all this time and now if they change, they’ve wasted all those years,” he says. However, around 50% of executives are willing and seeking change, he says, but making that happen requires an open mind. “If you look at the most successful athletes or entertainers or business people, they all have coaches,” Weiss says. “You need somebody outside of yourself who can look at you objectively and whom you trust.” But that person doesn’t have to be a professional coach. Joining a professional group in your field or getting a mentor can be a way to learn and seek advice from similar-minded colleagues, Weiss says. Like this story? Like CNBC Make It on Facebook. Don’t miss: Google execs reveal secrets to success they got from Silicon Valley’s ‘trillion dollar’ business coach


Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: jade scipioni
Keywords: news, cnbc, companies, ceo, dont, shares, month, helped, weiss, team, charges, sees, work, things, executives, figures, coaching, whisperer, change, problems, ceos, common


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Here’s how advisors can help clients avoid common and costly Medicare mistakes

Some good starting points include Eldercare.gov, Medicare.gov, your State Health Insurance Assistance Program, or SHIP, and the Medicare Rights Center. One thing you’ll want to have still-employed 60-something clients consider: Sometimes Medicare coverage is the better choice over an employer plan, Votava said. COBRA coverageOnce a client leaves their employer, they may have the ability to continue their health coverage through COBRA. For example, if someone’s 18-month COBRA coverage is up this


Some good starting points include Eldercare.gov, Medicare.gov, your State Health Insurance Assistance Program, or SHIP, and the Medicare Rights Center. One thing you’ll want to have still-employed 60-something clients consider: Sometimes Medicare coverage is the better choice over an employer plan, Votava said. COBRA coverageOnce a client leaves their employer, they may have the ability to continue their health coverage through COBRA. For example, if someone’s 18-month COBRA coverage is up this
Here’s how advisors can help clients avoid common and costly Medicare mistakes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: lorie konish, david robinson, founder, ceo of rts private wealth management
Keywords: news, cnbc, companies, mistakes, help, clients, medicare, common, cobra, costly, plan, 65, health, client, heres, advisors, avoid, insurance, coverage, votava


Here's how advisors can help clients avoid common and costly Medicare mistakes

Feverpitched | iStock | Getty Images

No two retirements look the same. But there is one thing all individuals face in their golden years: high health-care costs. Medicare beneficiaries will need as much as $400,000 for health expenses per couple, according to 2018 research from the Employee Benefit Research Institute. That is up from $370,000 in 2017. Medicare comes with plenty of rules, and if retirees run afoul of them, that could add to those health-care costs for the rest of their lives. “People do feel overwhelmed and baffled by Medicare,” said Katy Votava, president of Goodcare.com. “But there are some basic things that an advisor can do.”

Tips for financial advisors

Admittedly, Medicare rules have countless nuances. Unless you have someone on your team devoted to the topic full time, it can be overwhelming to take on. But there are some ways that financial advisors can help start the conversation with clients, as well as resources to which they can point them. Add health care to your client meeting agenda. “Put it on the annual agenda, and a lot of those issues will fall out before they’re a crisis,” Votava said. Start talking with clients about Medicare as early as age 62. Have them identify which doctors they are seeing and if they will be able to continue to use them once they are on Medicare. Cultivate relationships with local Medicare experts to whom you can refer clients. Start by getting suggestions for unbiased insurance providers from clients who have already gone through the process. Have a list of resources ready for clients. Some good starting points include Eldercare.gov, Medicare.gov, your State Health Insurance Assistance Program, or SHIP, and the Medicare Rights Center. Advisors can also engage in some troubleshooting for a few key situations when clients are most susceptible to making missteps.

Turning 65

Reaching age 65 is a key milestone when it comes to Medicare eligibility. But exactly what that means is changing, as more individuals continue to work into their 60s. As a result, many of your clients face the same Medicare question: “Do I have to go in at 65 or don’t I?” according to Votava. If a client is employed and their employer health plan meets the right criteria, they can delay signing up for Medicare. That is provided they have not started receiving Social Security retirement benefits, which would trigger automatic enrollment at 65 in Medicare Parts A and B, which cover hospital and medical insurance. In order for your client to be eligible to delay, their employer must have 20 or more employees. The employer plan also cannot be a retiree or COBRA plan, according to Votava. The plan also must meet Medicare prescription drug coverage requirements, she said.

“If you have that coverage … you can delay until a special enrollment period in the future,” Votava said. “If none of those criteria are true, then you need to get into Medicare.” One thing you’ll want to have still-employed 60-something clients consider: Sometimes Medicare coverage is the better choice over an employer plan, Votava said. If a client does need to sign up at 65, they do not want to wait, because the penalties are costly. The initial enrollment period runs from three months before someone’s 65th birthday to three months after. If your client misses that date and does not have creditable coverage, they will face a 10% surcharge on their premium for every 12 months that they wait, said Katherine Roy, chief retirement strategist at J.P. Morgan Asset Management. “It could get quite costly if someone has their mind set, ‘Hey, I’m in great shape. I’m not going to insure myself through Medicare, and I’ll just sign up when I need it,'” Roy said. “That is a very costly, bad decision to make.”

COBRA coverage

Once a client leaves their employer, they may have the ability to continue their health coverage through COBRA. (COBRA is a health insurance program that allows an eligible employee and his or her dependents the continued benefits of health insurance coverage in the case that employee loses his or her job or experiences a reduction of work hours.) However, sticking with that coverage could be a costly mistake once someone is age 65 and over. “COBRA is the biggest stumbling block where people are misinformed and stay on it when they shouldn’t,” Votava said. Votava has seen this situation so often she calls it “being attached to the mother ship.” “They’re comfortable, and they think it works well,” Votava said. More from FA Playbook:

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Advisors must way benefits and risks of this hot new tax play

College programs look to fill the advisor talent gap The problem is that COBRA is not considered a substitute for Medicare coverage. So if someone gets sick and they should be on Medicare, that is supposed to be their primary insurance. Consequently, COBRA, which is secondary coverage, will only cover 20% of the bill in many cases, Votava said. “You’re paying a huge amount of money for 20% of coverage,” Votava said. “It just doesn’t work.” What’s more, staying on COBRA could lead clients to miss their Medicare special enrollment period. For example, if someone’s 18-month COBRA coverage is up this month, they would have to wait until the first quarter of 2020 to apply for Medicare coverage. Then, their coverage wouldn’t start until July 1, 2020. Until that coverage starts, they will have to pay 100% of their health-care costs. Then, they will pay more — by up to 10% to 12% — for their Medicare premiums for the rest of their lives, Votava said.

Health savings accounts

Health savings accounts let your clients put away funds toward health-care expenses if they’re covered by a high-deductible health plan. The money that goes into an HSA is not taxed, nor are any gains on the money that’s invested or withdrawn. Because of that, many people rely on the savings in these accounts to help fund their retirement expenses. But once someone is on Medicare, they can no longer contribute to an HSA. If they do, they will face a 10% penalty, Roy said. But the restrictions faced will vary by age. For example, if a client leaves their company at age 65 and starts Medicare coverage as of July 1, they can contribute to an HSA until that date, or half the maximum amount for the year.

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Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: lorie konish, david robinson, founder, ceo of rts private wealth management
Keywords: news, cnbc, companies, mistakes, help, clients, medicare, common, cobra, costly, plan, 65, health, client, heres, advisors, avoid, insurance, coverage, votava


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Common sense ‘has to prevail’ in the UK over Brexit: Prof

Common sense ‘has to prevail’ in the UK over Brexit: Prof5 Hours AgoThere would be “enormous” damage to the English economy in a no-deal Brexit, says Bruce Wilson of RMIT University’s European Union Centre.


Common sense ‘has to prevail’ in the UK over Brexit: Prof5 Hours AgoThere would be “enormous” damage to the English economy in a no-deal Brexit, says Bruce Wilson of RMIT University’s European Union Centre.
Common sense ‘has to prevail’ in the UK over Brexit: Prof Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13
Keywords: news, cnbc, companies, sense, prof, common, prof5, universitys, nodeal, rmit, wilson, union, uk, prevail, brexit


Common sense 'has to prevail' in the UK over Brexit: Prof

Common sense ‘has to prevail’ in the UK over Brexit: Prof

5 Hours Ago

There would be “enormous” damage to the English economy in a no-deal Brexit, says Bruce Wilson of RMIT University’s European Union Centre.


Company: cnbc, Activity: cnbc, Date: 2019-06-13
Keywords: news, cnbc, companies, sense, prof, common, prof5, universitys, nodeal, rmit, wilson, union, uk, prevail, brexit


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How to avoid 3 common but annoying airline fees

Between charging you to check your bags, select a seat or surf the web, there are few aspects of air travel that don’t come with extra fees. In order to get the best deal on your flight, you need to include any potential fees you’ll pay to truly compare prices between carriers. Baggage feesU.S. airlines brought in almost $5 billion in baggage fees alone last year, according to the U.S. Department of Transportation. Seat selection feesAs more airlines adopt an a la carte pricing model, seats are


Between charging you to check your bags, select a seat or surf the web, there are few aspects of air travel that don’t come with extra fees. In order to get the best deal on your flight, you need to include any potential fees you’ll pay to truly compare prices between carriers. Baggage feesU.S. airlines brought in almost $5 billion in baggage fees alone last year, according to the U.S. Department of Transportation. Seat selection feesAs more airlines adopt an a la carte pricing model, seats are
How to avoid 3 common but annoying airline fees Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-30  Authors: alicia adamczyk
Keywords: news, cnbc, companies, extra, common, economy, preferred, avoid, youre, flight, travel, annoying, billion, airline, fees, seat, airlines


How to avoid 3 common but annoying airline fees

Between charging you to check your bags, select a seat or surf the web, there are few aspects of air travel that don’t come with extra fees. And it can be hard to keep up with individual carriers and their ever-changing rules. In order to get the best deal on your flight, you need to include any potential fees you’ll pay to truly compare prices between carriers. What might look like a low-cost ticket can end up being pricey if you’re dinged with extra charges on every step of your trip. Luckily, there are some simple ways to keep your ticket price low, according to Consumer Reports.

Baggage fees

U.S. airlines brought in almost $5 billion in baggage fees alone last year, according to the U.S. Department of Transportation. That’s up from $4.5 billion in 2017 and $1.1 billion a decade ago. The fees can run from around $30 to over $100, unless you’re flying Southwest, which gives travelers two free checked bags per flight. Otherwise, packing light or using a travel rewards credit card, as highlighted here, are your best options to check a bag for free.

Seat selection fees

As more airlines adopt an a la carte pricing model, seats are the next frontier in fees. Major U.S. airlines including American, Delta and United all charge customers to pick their seat assignments ahead of the flight, with prices ranging from $9 to over $100 in some cases — potentially more than a checked bag fee. Travel analyst Henry Harteveldt, co-founder of Atmosphere Research Group, told CNBC Make It that seat selection fees generate more than half a billion dollars a year for large airlines.

Though “preferred” seating can be confusing, you never have to pay extra for a seat assignment if you don’t want to. One key thing to remember: A preferred seat in economy is different than upgrading to a premium economy seat. With the former, you’re usually just paying to pick a standard economy seat to ensure you have a seat assignment before you arrive at the airport, whereas the latter will typically come with more leg room, free drinks and other perks. You might select a preferred seat it you think paying for a seat by a window or being closer to the front of the plane is worth the added expense, for example, or you want to avoid the dreaded middle seat at all costs.

WiFi fees


Company: cnbc, Activity: cnbc, Date: 2019-05-30  Authors: alicia adamczyk
Keywords: news, cnbc, companies, extra, common, economy, preferred, avoid, youre, flight, travel, annoying, billion, airline, fees, seat, airlines


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Even these Wharton business school students lack a basic personal finance education

Signage for the University of Pennsylvania’s Wharton School stands outside of the new campus in San Francisco, California. David Paul Morris | Bloomberg | Getty ImagesWhen it comes to money, most people lack the know-how to make smart moves on their own. To address the problem, a few MBA students in 2016 founded Wharton Common Cents to shed some light on personal finance topics that aren’t often taught in the classroom. Students attending a Wharton Common Cents event. Source: Wharton Common Cent


Signage for the University of Pennsylvania’s Wharton School stands outside of the new campus in San Francisco, California. David Paul Morris | Bloomberg | Getty ImagesWhen it comes to money, most people lack the know-how to make smart moves on their own. To address the problem, a few MBA students in 2016 founded Wharton Common Cents to shed some light on personal finance topics that aren’t often taught in the classroom. Students attending a Wharton Common Cents event. Source: Wharton Common Cent
Even these Wharton business school students lack a basic personal finance education Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-27  Authors: jessica dickler
Keywords: news, cnbc, companies, business, wharton, education, club, money, finance, lack, school, financial, personal, basic, topics, outside, common, students, knowhow


Even these Wharton business school students lack a basic personal finance education

Signage for the University of Pennsylvania’s Wharton School stands outside of the new campus in San Francisco, California. David Paul Morris | Bloomberg | Getty Images

When it comes to money, most people lack the know-how to make smart moves on their own. Even at Wharton, one of the nation’s top business schools, financial illiteracy is widespread. To address the problem, a few MBA students in 2016 founded Wharton Common Cents to shed some light on personal finance topics that aren’t often taught in the classroom. “There are a ton of financial circumstances you have to deal with as a graduate student that you’re not fully prepared for,” said Laura Gentile, 29, incoming co-president of the student-run club. Without the know-how, “you are at a huge disadvantage.” The club’s mission is to provide fundamental skills and resources to create a secure financial future, Gentile said.

Students attending a Wharton Common Cents event. Source: Wharton Common Cents

Surprisingly, it’s the first-ever club of its kind at a business school, according to current President Anuj Khandelwal, 28. The club hosts nearly weekly programs for graduate students on topics such as the difference between credit and debit cards, saving now versus later and how to talk about money with a significant other. They are also bringing these lessons to members of the greater community, just outside the ivy-covered walls, including Jane Addams Place, a homeless shelter for women and children, and Say Yes to Education, an after-school program for public school students. “We acknowledge that Philly is one of the poorest cities in the nation,” Khandelwal said.


Company: cnbc, Activity: cnbc, Date: 2019-04-27  Authors: jessica dickler
Keywords: news, cnbc, companies, business, wharton, education, club, money, finance, lack, school, financial, personal, basic, topics, outside, common, students, knowhow


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Suzy Welch: The embarrassing (and common) mistake that can cost you a job offer

Your references get called out of the blue, and they can be like, ‘Who? The job I’m interviewing for requires quantitative analysis and collaboration, so you might want to mention my success on the ACME project.” “If you really want that job,” Welch says, “your references have to close the deal for you — and you have to help them.” Suzy Welch is the co-founder of the Jack Welch Management Institute and a noted business journalist, TV commentator and public speaker. More from Suzy Welch:This is t


Your references get called out of the blue, and they can be like, ‘Who? The job I’m interviewing for requires quantitative analysis and collaboration, so you might want to mention my success on the ACME project.” “If you really want that job,” Welch says, “your references have to close the deal for you — and you have to help them.” Suzy Welch is the co-founder of the Jack Welch Management Institute and a noted business journalist, TV commentator and public speaker. More from Suzy Welch:This is t
Suzy Welch: The embarrassing (and common) mistake that can cost you a job offer Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: courtney connley
Keywords: news, cnbc, companies, mistake, help, think, suzy, references, let, cost, youre, career, offer, embarrassing, common, welch, called, job


Suzy Welch: The embarrassing (and common) mistake that can cost you a job offer

“It’s crazy, but it happens all the time,” she says. “And then what? Your references get called out of the blue, and they can be like, ‘Who? What? Oh yeah, let me think for a minute.'”

To avoid this kind of embarrassing encounter Welch says you should not only alert your references to the possibility of a phone call, but prepare them for what they should discuss.

“Call your references in the day or two before they’re called to let them know what skills, traits and experiences the hiring company seems to be valuing in you, so that they can emphasize those in their conversation.”

For example, she says, you can say something like, “Hi there, beloved reference. The job I’m interviewing for requires quantitative analysis and collaboration, so you might want to mention my success on the ACME project.”

It may feel like you’re overstepping your boundaries or being too self-promotional, but Welch says you’ll be surprised by how much your references appreciate the heads-up. “The last thing your references have time for is sitting around thinking about the highlights of your career. By ‘educating’ them with a prep call, you’re actually doing them a favor.”

Don’t underestimate the importance of glowing — and prepared — references to help you land a position.

“If you really want that job,” Welch says, “your references have to close the deal for you — and you have to help them.”

Suzy Welch is the co-founder of the Jack Welch Management Institute and a noted business journalist, TV commentator and public speaker. Think you need Suzy to fix your career? Email her at gettowork@cnbc.com.

Video by Beatriz Bajuelos Castillo

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More from Suzy Welch:

This is the one job offer you should never accept

The only 2 reasons you should drop everything and learn to code

These are the 2 fastest ways to get promoted


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: courtney connley
Keywords: news, cnbc, companies, mistake, help, think, suzy, references, let, cost, youre, career, offer, embarrassing, common, welch, called, job


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