Taboo money topics: How to talk about student debt with your partner

Graphic preview Taboo money topics A recent survey found that more people are uncomfortable talking about their student debt than any other aspect of their finances. kiersten schmidt/grow TD AmeritradeHere’s how to make that conversation easier and keep student debt from hurting your relationship. Ask your partner if they have student debt too, and if so, what kind. Of the borrowers surveyed, 84% report that student loans are negatively affecting the amount they are able to save for retirement,


Graphic preview Taboo money topics A recent survey found that more people are uncomfortable talking about their student debt than any other aspect of their finances. kiersten schmidt/grow TD AmeritradeHere’s how to make that conversation easier and keep student debt from hurting your relationship. Ask your partner if they have student debt too, and if so, what kind. Of the borrowers surveyed, 84% report that student loans are negatively affecting the amount they are able to save for retirement,
Taboo money topics: How to talk about student debt with your partner Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: ivana pino, myelle lansat
Keywords: news, cnbc, companies, borgesodell, money, student, couples, financial, debt, loans, talk, topics, taboo, help, theres, partner


Taboo money topics: How to talk about student debt with your partner

Over a third of Americans say student loan debt is the most uncomfortable financial topic to discuss in social settings. But keeping your loved ones in the dark about your debt can lead to turmoil in your personal relationships. Nearly four in 10 student loan borrowers say that loans have affected their relationships with significant others, according to a recent study by the Teachers Insurance and Annuity Association of America (TIAA) and the MIT AgeLab. But there’s no reason to be ashamed of having student loans. Nearly 70% of students from the class of 2018 borrowed money to pay for school, according to the Federal Reserve. Cynthia Borges-O’Dell, a licensed marriage and family therapist from Modesto, California, says if you’re in an exclusive relationship, it helps to be candid about your student debt situation early on.

Graphic preview Taboo money topics A recent survey found that more people are uncomfortable talking about their student debt than any other aspect of their finances. Topics that respondents aren’t comfortable discussing Social chart title Note: Based on a survey of 1,006 U.S. adults aged 22 and older with at least $10,000 in investable assets. kiersten schmidt/grow TD Ameritrade

Here’s how to make that conversation easier and keep student debt from hurting your relationship.

Be transparent

“I think there is an embarrassment or a stigma attached to student loan debt because there’s an underlying fear that someone will not be able to accept it, or understand why one made the decision to acquire that kind of student debt, when there are other options,” says Borges-O’Dell. She recommends kicking off the conversation by explaining your initial reasons for choosing your college. Ask your partner if they have student debt too, and if so, what kind. Sharing personal financial information probably won’t cause a rift, she says. Being aware of your loved one’s loans, and making them aware of yours, can actually help you better understand each other and your priorities. And being open about money in general can establish a solid foundation for your relationship. “It’s perfectly fine to ask what kind of credit history they have and what their spending habits are,” too, she says. “Knowing this information about your partner will help them come up with a financial plan and set goals for the future.”

I think there is an embarrassment or a stigma attached to it because there’s an underlying fear that someone will not be able to accept it or understand why one made the decision to acquire that kind of student debt when there are other options. Cynthia Borges-O’Dell Licensed Marriage and Family Therapist

Decide what your roles will be

One of the most important decisions you make as a couple could be determining what your partner’s role is in your debt. Will they cheer you on as you pay it down? Are they willing or able to contribute in some way? What are the two of you comfortable with? Whatever you agree to do, make sure you set clear expectations early on: 36% of borrowers who currently contribute to their partner’s education report conflict as a result of unclear expectations about the amount, according to the TIAA and MIT AgeLab study. There’s no right or wrong way to go about handling your debt, and having the conversation will help you both come to a decision. It can also inform the approach you take to money generally as a couple. “I’ve seen people tackle it all kinds of ways, but usually couples will divvy their finances into ‘yours, mine, and ours’ buckets,” says Richard Kahler, a NAPFA registered financial advisor with Kahler Financial Group in Rapid City, South Dakota. Buckets allow for couples to contribute to a joint account in proportion to their individual incomes or to put in equal amounts. Though Kahler says many couples choose to tackle student debt together by putting all of their earnings into an “us” bucket, and paying off debt and other bills jointly, some couples opt for separate accounts and that’s fine, too.

Consider asking an expert

If you and your partner decide to tackle the debt together, Borges-O’Dell suggests seeking help from a certified financial planner (CFP) to ensure that you’re both on the same page about money. Clear, consistent communication helps couples manage finances and set expectations about how much of your combined monthly income will be put towards debt and other expenses. Borges-O’Dell says that meeting with a CFP and having regular check-ins with each other can help both parties come to a mutual agreement on a budget and a set of financial goals to help keep both partners accountable. “They need to sit down and schedule a time once a week or so to review their finances and to review where the money is going,” she says, so you’re making joint decisions.

Agree on your goals and how to pursue them

Student debt can be difficult to discuss in part because of the threat it poses to other priorities. Of the borrowers surveyed, 84% report that student loans are negatively affecting the amount they are able to save for retirement, for example. But student loans don’t have to hold you back, as an individual or as a couple. Though Kahler says that, in most cases, paying off student debt should be a high priority, your circumstances, like the amount of debt you have and the interest rates on your loans, matter. You may have the flexibility to prioritize saving for a mortgage, too, for example, or to start a family. And many experts encourage you to start putting aside at least a little for retirement as soon as you can, even if you’re paying off student loans at the same time, so that you can benefit from compounding. Start having the conversations with your partner early on so that you can figure out how to take care of your loans and how to think beyond them, too. Borges-O’Dell says that these productive conversations, and a stronger, more open relationship, begins with overcoming the fear of telling your partner about your student loan debt. “If you enjoyed what you did, if you got an outstanding education, then why be embarrassed about that?” she says. “There’s no doubt that debt is kind of a romantic buzzkill,” Kahler acknowledges. But dealing with debt can help you and your partner can learn to collaborate and compromise, skills that help couples thrive in all sorts of challenging situations, and it can end up bringing you closer. More from Grow: ‘Struggle Meals’ host: You can cook fast, easy dishes for only $2 a person

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Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: ivana pino, myelle lansat
Keywords: news, cnbc, companies, borgesodell, money, student, couples, financial, debt, loans, talk, topics, taboo, help, theres, partner


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Home equity loans or refinancing? Here’s what to look for, according to this top investment advisor

With fears about a possible recession on the horizon, people are coming up with different ways to get their hands on some cash. Some may even be thinking about taking out a home equity line of credit as an insurance policy in case the economy goes south. But is taking out a home equity loan, or HELOC, a smart idea — whether as an insurance policy or even just to do home improvements? According to financial expert Ric Edelman, founder and executive chairman of Edelman Financial Engines, “It doesn


With fears about a possible recession on the horizon, people are coming up with different ways to get their hands on some cash. Some may even be thinking about taking out a home equity line of credit as an insurance policy in case the economy goes south. But is taking out a home equity loan, or HELOC, a smart idea — whether as an insurance policy or even just to do home improvements? According to financial expert Ric Edelman, founder and executive chairman of Edelman Financial Engines, “It doesn
Home equity loans or refinancing? Here’s what to look for, according to this top investment advisor Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: michelle fox
Keywords: news, cnbc, companies, advisor, insurance, look, refinancing, rate, financial, equity, credit, taking, edelman, loans, bond, loan, investment, policy, according, heres


Home equity loans or refinancing? Here's what to look for, according to this top investment advisor

With fears about a possible recession on the horizon, people are coming up with different ways to get their hands on some cash.

Some may even be thinking about taking out a home equity line of credit as an insurance policy in case the economy goes south.

Those concerns were renewed on Thursday when a warning signal flashed once again from the bond market: The benchmark 10-year Treasury bond broke below the 2-year rate for the third time in less than two weeks. That’s called an inverted yield curve, and it is a phenomenon that often has been a reliable, yet early, indicator of economic recessions.

But is taking out a home equity loan, or HELOC, a smart idea — whether as an insurance policy or even just to do home improvements? And what impact would it have on your credit history?

According to financial expert Ric Edelman, founder and executive chairman of Edelman Financial Engines, “It doesn’t necessarily hurt your score.”

Your credit score is a number that represents the risk a creditor, like a bank or lender, will take on you when you borrow money. It can determine the interest rate you will pay for credit cards, car loans and home mortgages — or whether you will get a loan at all.


Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: michelle fox
Keywords: news, cnbc, companies, advisor, insurance, look, refinancing, rate, financial, equity, credit, taking, edelman, loans, bond, loan, investment, policy, according, heres


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Here’s why people aren’t saving more in their 401(k) plans

Another 16% of participants said they dialed back their retirement savings from last year, while close to half said they kept their contributions level. Consider that 4.6 million taxpayers maxed out their 401(k) plans back in 2016, according to data from the IRS. Falling short on your 401(k)Jamie Grill | Blend Images | Getty ImagesNevertheless, not all workers are tossing every spare cent into their retirement plan. “Focusing on another financial priority” rounded out the three major reasons why


Another 16% of participants said they dialed back their retirement savings from last year, while close to half said they kept their contributions level. Consider that 4.6 million taxpayers maxed out their 401(k) plans back in 2016, according to data from the IRS. Falling short on your 401(k)Jamie Grill | Blend Images | Getty ImagesNevertheless, not all workers are tossing every spare cent into their retirement plan. “Focusing on another financial priority” rounded out the three major reasons why
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Company: cnbc, Activity: cnbc, Date: 2019-08-21  Authors: darla mercado
Keywords: news, cnbc, companies, schwab, saving, 401k, need, arent, heres, plans, savings, youll, financial, retirement, workers, plan, participants


Here's why people aren't saving more in their 401(k) plans

A young couple going through financial problems Geber86 | E+ | Getty Images

American workers are facing a retirement crisis — and few are doing anything about it. Just three out of 10 workers polled by Bankrate.com said they increased contributions to their retirement plans from where they were last year. The personal finance site surveyed 2,016 adults in July and August. Another 16% of participants said they dialed back their retirement savings from last year, while close to half said they kept their contributions level.

Although a handful of 401(k) plan participants have hit seven-figure account balances, other workers might be more hesitant about socking away money amid fears of a recession and recent market volatility. If you hesitate to invest now, you’ll be paying for it later. “My concern is that people see this short-term volatility and make decisions that are detrimental to their long-term financial security,” said Greg McBride, chief financial analyst at Bankrate.com. “If you feel the need to do something, boost your emergency savings, pay down debt and identify which expenses you can cut if you need it,” he said. “But do not mess with your retirement account.”

Saving just enough

Americans believe that they need $1.7 million to retire, according to data from Charles Schwab. Workers in their 20s could get their retirement savings on firmer footing by socking away 10% to 15% of their salary each year, Schwab found. Those employees also benefit from compounding market returns over several decades. If you hold off until your 40s to start saving, you’ll need to stash more than 35% of every dollar you earn to bulk up your retirement savings balance, according to Schwab. This year, you can defer up to $19,000 of your pretax salary into your company’s 401(k) plan, plus an additional $6,000 if you’re 50 and up. Hitting the maximum contribution is a challenge, but a handful of workers have done it. Consider that 4.6 million taxpayers maxed out their 401(k) plans back in 2016, according to data from the IRS.

Falling short on your 401(k)

Jamie Grill | Blend Images | Getty Images

Nevertheless, not all workers are tossing every spare cent into their retirement plan. Of the participants who said they weren’t raising their retirement contribution in 2019, about a quarter said they weren’t doing so because they were “comfortable” with their current savings level. “People in their 50s and 60s are more likely to give that answer because they realize they might be on track after all, and that’s encouraging,” said McBride. More from Personal Finance:

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Parents exploit this loophole to secure more college financial aid Stagnant or shrinking incomes were another major driver behind workers’ reluctance to save, garnering close to a quarter of the vote. “Focusing on another financial priority” rounded out the three major reasons why people aren’t saving more money, chosen by 16% of participants. “The urgency to pay down debt at the expense of saving for retirement can prove to be a grave error,” McBride said.

Save what you can

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Company: cnbc, Activity: cnbc, Date: 2019-08-21  Authors: darla mercado
Keywords: news, cnbc, companies, schwab, saving, 401k, need, arent, heres, plans, savings, youll, financial, retirement, workers, plan, participants


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‘American Ninja Warrior’ host Akbar Gbajabiamila reveals his winning financial game plan

Former NFL star Akbar Gbajabiamila likes to have a game plan, especially when it comes to his money. It began to formulate when he was playing football and is still key to his success today. “The way I make my winning financial game plan is by surrounding myself with people who are smarter than me,” said Gbajabiamila, now co-host of NBC’s “American Ninja Warrior. ” “If you can’t answer the question ‘why,’ then chances are you’re probably going to be going in all different types of directions. An


Former NFL star Akbar Gbajabiamila likes to have a game plan, especially when it comes to his money. It began to formulate when he was playing football and is still key to his success today. “The way I make my winning financial game plan is by surrounding myself with people who are smarter than me,” said Gbajabiamila, now co-host of NBC’s “American Ninja Warrior. ” “If you can’t answer the question ‘why,’ then chances are you’re probably going to be going in all different types of directions. An
‘American Ninja Warrior’ host Akbar Gbajabiamila reveals his winning financial game plan Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-21  Authors: michelle fox
Keywords: news, cnbc, companies, honest, warrior, reveals, answer, ninja, gbajabiamila, plan, american, financial, question, game, going, winning, youre, host


'American Ninja Warrior' host Akbar Gbajabiamila reveals his winning financial game plan

Former NFL star Akbar Gbajabiamila likes to have a game plan, especially when it comes to his money.

It began to formulate when he was playing football and is still key to his success today.

“The way I make my winning financial game plan is by surrounding myself with people who are smarter than me,” said Gbajabiamila, now co-host of NBC’s “American Ninja Warrior. ” “People who can keep me honest with my financial goals.”

It’s also being able to answer the question, “Why?”

“Why is it that I want to change my financial status? Why do I want to grow my money?” he said.

“If you can’t answer the question ‘why,’ then chances are you’re probably going to be going in all different types of directions. And having that team to keep you honest, to me, that right there is a game plan.”


Company: cnbc, Activity: cnbc, Date: 2019-08-21  Authors: michelle fox
Keywords: news, cnbc, companies, honest, warrior, reveals, answer, ninja, gbajabiamila, plan, american, financial, question, game, going, winning, youre, host


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Here are the best ways to secure important financial documents

Let’s face it, when it comes to storing important financial documents, a shoe box under your bed doesn’t really cut it. Estate-planning documents — such as wills, trusts, living wills, medical directives and powers of attorney —are very important to you. Ensuring your family knows about your estate and other documents, and where to find them, is key. Life insurance policies, divorce records and real estate deeds are some of the other physical documents that should be safely kept. However, there


Let’s face it, when it comes to storing important financial documents, a shoe box under your bed doesn’t really cut it. Estate-planning documents — such as wills, trusts, living wills, medical directives and powers of attorney —are very important to you. Ensuring your family knows about your estate and other documents, and where to find them, is key. Life insurance policies, divorce records and real estate deeds are some of the other physical documents that should be safely kept. However, there
Here are the best ways to secure important financial documents Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: kelley keehn, personal finance educator, ted jenkin, co-founder, ceo of oxygen financial
Keywords: news, cnbc, companies, estate, key, box, secure, place, wills, best, ways, digital, safely, important, documents, financial


Here are the best ways to secure important financial documents

Let’s face it, when it comes to storing important financial documents, a shoe box under your bed doesn’t really cut it.

Estate-planning documents — such as wills, trusts, living wills, medical directives and powers of attorney —are very important to you. So where do you keep them safely secured? And what about your digital assets, passwords and social media accounts?

Jason Heath, a certified financial planner and managing director with Objective Financial Partners, reminds people that some states have public will registries, and there are private will registry companies, as well.

More from FA Playbook:

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“Although estate-planning documents do not need to be registered, it may be a good idea,” he said.

However, registering documents may not be enough. Ensuring your family knows about your estate and other documents, and where to find them, is key. Life insurance policies, divorce records and real estate deeds are some of the other physical documents that should be safely kept. A safety deposit box, or a safe place at home, may be an option.

However, there are also online options available to organize this data in one place and provide a digital “key” to loved ones.


Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: kelley keehn, personal finance educator, ted jenkin, co-founder, ceo of oxygen financial
Keywords: news, cnbc, companies, estate, key, box, secure, place, wills, best, ways, digital, safely, important, documents, financial


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Here’s what you need to know about creating that diverse portfolio financial experts keep talking about

At the most basic level, it means you don’t want all your money invested in the same place. A balanced portfolio generally means your money is invested in different types of assets, such as stocks and bonds. Bonds typically act as a “counterweight” to stocks, Sethi explains. With stocks, for example, you typically want some of your money invested with big companies, some with international companies and some with small companies. You want to pick bonds from different issuers, such as the federal


At the most basic level, it means you don’t want all your money invested in the same place. A balanced portfolio generally means your money is invested in different types of assets, such as stocks and bonds. Bonds typically act as a “counterweight” to stocks, Sethi explains. With stocks, for example, you typically want some of your money invested with big companies, some with international companies and some with small companies. You want to pick bonds from different issuers, such as the federal
Here’s what you need to know about creating that diverse portfolio financial experts keep talking about Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: megan leonhardt
Keywords: news, cnbc, companies, investments, talking, portfolio, know, money, invested, way, bonds, sethi, need, heres, creating, balanced, experts, risk, stocks, financial, diverse


Here's what you need to know about creating that diverse portfolio financial experts keep talking about

The markets are coming off a wild week and many financial experts say now is the time to make sure you have a balanced, diversified investment mix.

Understanding diversification and making sure your portfolio meets that standard is an important way to build long-term wealth, personal finance coach Ramit Sethi tells CNBC Make It.

That’s good advice, but do you know what it actually means?

At the most basic level, it means you don’t want all your money invested in the same place. Instead, you want to set up your investments in a way that when one sector of the market is dipping, you are also invested somewhere else that is performing well.

“You want to have a balanced portfolio so that you’re not subject to massive amounts of risk,” says Sethi, author of the best-selling book “I Will Teach You To Be Rich.” Spreading out your money across several investments is one way to reduce your overall risk so that you won’t lose everything if the market tanks.

A balanced portfolio generally means your money is invested in different types of assets, such as stocks and bonds. Bonds typically act as a “counterweight” to stocks, Sethi explains. When stocks fall, bond prices often rise and therefore reduce the overall risk that you’ll lose money. You generally want some of both in your investment mix.

Just having stocks and bonds is not enough to keep your risk low, though. You also need to diversify your investments within these asset classes. With stocks, for example, you typically want some of your money invested with big companies, some with international companies and some with small companies.

The same is true with bonds. You want to pick bonds from different issuers, such as the federal government, corporate bonds, and municipal bonds from state and local governments.


Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: megan leonhardt
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Ex-SEC chief: Markopolos targeting GE for a short-seller and not as a whistleblower ‘suspicious’

“One of the ways you can test Markopolos’ bona fides, however, is the fact that the SEC has a whistleblower provision. Frenkel said that regulators are going to want to know the “intent behind issuing the information publicly” and whether Markopolos’ information is accurate. Pitt and Frenkel, appearing together for a “Squawk Box” interview, spoke before GE issued a more detailed response to Markopolos’ allegations. “We operate with absolute integrity and stand behind our financial reporting,” wr


“One of the ways you can test Markopolos’ bona fides, however, is the fact that the SEC has a whistleblower provision. Frenkel said that regulators are going to want to know the “intent behind issuing the information publicly” and whether Markopolos’ information is accurate. Pitt and Frenkel, appearing together for a “Squawk Box” interview, spoke before GE issued a more detailed response to Markopolos’ allegations. “We operate with absolute integrity and stand behind our financial reporting,” wr
Ex-SEC chief: Markopolos targeting GE for a short-seller and not as a whistleblower ‘suspicious’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: matthew j belvedere
Keywords: news, cnbc, companies, investment, exsec, shortseller, suspicious, pitt, chief, sec, public, financial, ge, issuing, frenkel, targeting, markopolos, whistleblower


Ex-SEC chief: Markopolos targeting GE for a short-seller and not as a whistleblower 'suspicious'

Former SEC Chairman Harvey Pitt on Monday questioned the motivation of Harry Markopolos, the Bernie Madoff whistleblower who unveiled a long list of allegations against General Electric last week in an investigation for a short seller.

“One of the ways you can test Markopolos’ bona fides, however, is the fact that the SEC has a whistleblower provision. And if he had brought all of his data to the SEC first, he would reap potentially up to 30% of the potential recovery that the SEC might obtain in connection with this case, ” Pitt told CNBC.

“Instead what he did was go public, blast the company without giving the company a chance even to address his concerns,” Pitt said. “Those are factors that make this look suspicious.”

Jacob Frenkel, former senior counsel for the SEC Division of Enforcement, said Markopolos “stepped up the risk to himself, and to others, by going public as opposed to letting the SEC run its process.” Frenkel said that regulators are going to want to know the “intent behind issuing the information publicly” and whether Markopolos’ information is accurate.

Pitt and Frenkel, appearing together for a “Squawk Box” interview, spoke before GE issued a more detailed response to Markopolos’ allegations. “We operate with absolute integrity and stand behind our financial reporting,” wrote Steve Winoker, vice president of GE investor communications. He added that GE believes it has sufficient reserves for its long-term care insurance business and that its consolidated financial statement for its investment in Baker Hughes was proper.

In a 175-page report, which made headlines Thursday, Markopolos accused GE of issuing fraudulent financial statements to hide the extent of its accounting problems in a $38 billion fraud bigger than Enron. In a CNBC interview, Markopolos said GE is a bankruptcy waiting to happen. Best known for pointing out irregularities with Madoff’s investment strategy years before the Ponzi scheme was exposed, Markopolos also disclosed that he conducted the research into GE at the behest of a hedge fund, which he refused to name. “I have a family to support,” he added.


Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: matthew j belvedere
Keywords: news, cnbc, companies, investment, exsec, shortseller, suspicious, pitt, chief, sec, public, financial, ge, issuing, frenkel, targeting, markopolos, whistleblower


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3 last-minute ways to get more money for college

File student aid formsIf you haven’t already submitted the Free Application for Federal Student Aid (aka FAFSA), it’s not too late. Doing so could help you get any need-based federal, state, and college grant money that’s still available, and make you eligible to take out federal student loans — which are cheaper and provide more borrower protections than private loans. Work with your collegeReach out to your school’s financial aid office directly. Every school has their own protocol for awardin


File student aid formsIf you haven’t already submitted the Free Application for Federal Student Aid (aka FAFSA), it’s not too late. Doing so could help you get any need-based federal, state, and college grant money that’s still available, and make you eligible to take out federal student loans — which are cheaper and provide more borrower protections than private loans. Work with your collegeReach out to your school’s financial aid office directly. Every school has their own protocol for awardin
3 last-minute ways to get more money for college Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-17  Authors: ivana pino, lance lambert, myelle lansat
Keywords: news, cnbc, companies, lastminute, tuition, money, aid, fafsa, thing, costs, federal, college, ways, families, student, financial


3 last-minute ways to get more money for college

Fall tuition bills are coming due for college students and their families. If you’re struggling to pay, or worried about how you’ll handle all of your expenses, here are a few strategies to consider.

1. File student aid forms

If you haven’t already submitted the Free Application for Federal Student Aid (aka FAFSA), it’s not too late. The FAFSA is a widely used form that colleges and federal and state governments review to figure out how much financial aid you can get. As of this spring, only 56% of families with a student in or headed to college had completed the FAFSA for the upcoming academic year, according to a Sallie Mae survey of 2,006 parents and students. About a quarter of families never submit the form for a given year, data from previous years suggests. It takes about an hour to fill out the FAFSA, according to Edvisors.com. Doing so could help you get any need-based federal, state, and college grant money that’s still available, and make you eligible to take out federal student loans — which are cheaper and provide more borrower protections than private loans.

2. Work with your college

Reach out to your school’s financial aid office directly. Every school has their own protocol for awarding or amending your financial aid package. You many need to file a formal appeal that requires writing a personal letter or submitting documentation that demonstrates how your financial situation has changed. The college may be able to offer additional grant money or opportunities for work-study. Don’t hesitate to ask about increasing the value of scholarships you’ve been awarded, either. “College is a buyer’s market, and most schools are not meeting their enrollment goal — so you can appeal an award even if you don’t have extenuating circumstances,” says Lynn O’Shaughnessy, author of “The College Solution.”

The most important thing is to be patient. For many financial aid offices, the start of the semester is their busiest time, but any little bit you can deduct from your overall costs will help. Elaine Rubin senior contributor and communications specialist at Edvisors

If you can’t negotiate a better package, you can request to be put on a payment plan that allows you to pay tuition in installments over the course of the year. While this won’t cut down your costs, it can make them more manageable. “The most important thing is to be patient,” says Elaine Rubin, senior contributor and communications specialist at Edvisors. “For many financial aid offices, the start of the semester is their busiest time, but any little bit you can deduct from your overall costs will help.”

3. Apply for private scholarships


Company: cnbc, Activity: cnbc, Date: 2019-08-17  Authors: ivana pino, lance lambert, myelle lansat
Keywords: news, cnbc, companies, lastminute, tuition, money, aid, fafsa, thing, costs, federal, college, ways, families, student, financial


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Analyst says GE stock recovering because Madoff whistleblower fraud allegations are baseless

This is why all the insiders are buying,” Heymann told CNBC on Friday, one day after GE shares tanked 11% to $8.01 per share, in their worst trading session in more than a decade. Leslie Seidman, a GE board director and audit committee chair, also pushed back on the Markopolos report, telling CNBC on Thursday that it “does not reflect the GE that I know.” In a 175-page report, Markopolos accused GE of issuing fraudulent financial statements to hide the extent of its accounting problems. He told


This is why all the insiders are buying,” Heymann told CNBC on Friday, one day after GE shares tanked 11% to $8.01 per share, in their worst trading session in more than a decade. Leslie Seidman, a GE board director and audit committee chair, also pushed back on the Markopolos report, telling CNBC on Thursday that it “does not reflect the GE that I know.” In a 175-page report, Markopolos accused GE of issuing fraudulent financial statements to hide the extent of its accounting problems. He told
Analyst says GE stock recovering because Madoff whistleblower fraud allegations are baseless Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: matthew j belvedere
Keywords: news, cnbc, companies, told, report, whistleblower, madoff, ge, allegations, markopolos, financial, heymann, fraud, baseless, accounting, stock, recovering, billion, shares, analyst


Analyst says GE stock recovering because Madoff whistleblower fraud allegations are baseless

The allegations by Madoff whistleblower Harry Markopolos of a $38 billion fraud at General Electric are “at best disingenuous” and “at worst highly inaccurate,” according to Nick Heymann, co-group head of global industrial infrastructure at the William Blair financial services firm.

“You got the stock on sale yesterday for absolutely no basis. This is why all the insiders are buying,” Heymann told CNBC on Friday, one day after GE shares tanked 11% to $8.01 per share, in their worst trading session in more than a decade.

GE stock on Friday regained most of the losses after the troubled conglomerate late Thursday revealed that CEO Larry Culp purchased nearly $2 million worth of shares. The purchase was made after Markopolos called the company “a bigger fraud than Enron.”

Culp, who became chairman and CEO of GE last year, said the Markopolos accusations were false and driven by market manipulation. Leslie Seidman, a GE board director and audit committee chair, also pushed back on the Markopolos report, telling CNBC on Thursday that it “does not reflect the GE that I know.” She added that the report is “full of misleading, inaccurate and inflammatory statements.”

Earlier Thursday, billionaire investor Stanely Druckenmiller told CNBC that he added to his position in GE, which according to SEC filings already totaled 6.2 million shares. Druckenmiller said he believes in Culp’s turnaround plans.

In a 175-page report, Markopolos accused GE of issuing fraudulent financial statements to hide the extent of its accounting problems. He told CNBC on Thursday that GE is a bankruptcy waiting to happen. Markopolos, best-known for pointing out irregularities with Bernie Madoff’s investment strategy years before the Ponzi scheme was exposed, also said he conducted the research into GE at the behest of a hedge fund, which he refused to name.

“The two noncash charges that [Markopolos] alleges should be currently reflected on GE’s balance sheet, which collectively total $18.2 billion, those are not accurate under GAAP accounting,” Heymann said. The company is already cooperating with Justice Department and SEC inquiries into its accounting practices.

“If this was announced in 2016 or 2017, it would be a very different, real, substantive pulling back of the covers,” argued Heymann. In January 2018, he pointed out, GE’s long-term care insurance unit had to boost reserves by $15 billion. Markopolos claims another $18.5 billion of insurance loss reserves are needed.

Admitting he’s not knowledgeable enough to say either way whether Markopolos is correct about the $18.5 billion, Heymann said GE could easily afford that amount if it were required.

“The immediate liquidity of the company — unrestricted cash, revolving lines less commercial paper outstanding — is over $60 billion. That’s write a check,” Heymann said. He added that GE would be getting $21.4 billion in the fall from the BioPharma sale, and could sell its health-care unit for about $46 billion and the rest of Baker Hughes for $5.5 billion. “That gives you a $133 billion of intermediate-term cash liquidity to address an $18.5 billion alleged requirement,” Heymann calculated.

“This is the last Molotov cocktail that someone is throwing down the street,” Heymann said of the Markopolos report, suggesting it’s a desperate attempt to disparage GE for profit.

In a note to William Blair clients, Heymann wrote, “We do not believe GE’s financial statements purposely misrepresent the company’s current financial condition and future potential liabilities. We find it hard to believe that GE, which has been engaged with several regulatory reviews of its accounting and financial disclosures for over two years, has fraudulently misrepresented its financial reporting.”

Heymann was among a number of analysts on Friday who were defending GE following the Markopolos report.


Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: matthew j belvedere
Keywords: news, cnbc, companies, told, report, whistleblower, madoff, ge, allegations, markopolos, financial, heymann, fraud, baseless, accounting, stock, recovering, billion, shares, analyst


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Are you ready to turn your side hustle into a full-time job? Here’s how to know

Turning a side hustle into a full-time career may be tempting. The “magic number” could be at least $43,862 a year, according to a 2019 Side Hustle to Small Business Study conducted by Hiscox, a global specialist insurer. That’s how much money respondents, on average, said they needed to make from their side hustle before they felt comfortable turning those gigs into full-time jobs. Stumpf says to focus on building an emergency fund while you have a full-time job to offset any unexpected costs t


Turning a side hustle into a full-time career may be tempting. The “magic number” could be at least $43,862 a year, according to a 2019 Side Hustle to Small Business Study conducted by Hiscox, a global specialist insurer. That’s how much money respondents, on average, said they needed to make from their side hustle before they felt comfortable turning those gigs into full-time jobs. Stumpf says to focus on building an emergency fund while you have a full-time job to offset any unexpected costs t
Are you ready to turn your side hustle into a full-time job? Here’s how to know Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: myelle lansat, stephen parkhurst, anna-louise jackson, sam becker
Keywords: news, cnbc, companies, heres, plan, hustle, expenses, turn, business, stumpf, costs, need, know, ready, youre, financial, job, fulltime


Are you ready to turn your side hustle into a full-time job? Here's how to know

Turning a side hustle into a full-time career may be tempting. But given the start-up costs and fluctuating earnings that go hand-in-hand with launching a business, expanding your side gig requires detailed planning. Before taking the leap, you’ll want to make sure you’re pulling in enough from the side hustle to cover your expenses as you scale up to a 40-hour work week. But how much is enough? The “magic number” could be at least $43,862 a year, according to a 2019 Side Hustle to Small Business Study conducted by Hiscox, a global specialist insurer. That’s how much money respondents, on average, said they needed to make from their side hustle before they felt comfortable turning those gigs into full-time jobs. What you need to earn, though, depends on your specific financial needs and spending priorities. Here are four tips to help you calculate your own “magic number” and figure out if you’re ready to make the change.

1. Make sure you’ll be able to cover everyday expenses

Richard Stumpf, a certified financial planner with Financial Benefits Inc. in Wichita, Kansas, says the first step is looking at your budget to figure out how much you need to bring in each month: “The biggest thing is, can you survive long enough to finally get to the point where you can make a working living?” Start by detailing your everyday expenses. Make a list of essentials like rent/mortgage, utilities, food, and, if applicable, child-care costs. Then look at variable expenses like dining out, entertainment, and other treats. “The key, for both personal and business budgeting, is to differentiate between fixed and variable expenses,” says Stumpf. “You can’t belt-tighten on your mortgage, [but] you can belt-tighten on your cable bill. ” Consider spending less on entertainment or cooking at home more, for instance. Stumpf says to focus on building an emergency fund while you have a full-time job to offset any unexpected costs that come with leaving to focus on your side hustle. Financial advisors often suggest saving enough to cover at least three to six months’ worth of living expenses.

2. Factor in hidden costs

Be aware of the upfront or hidden costs of starting a new business, says Stumpf. Consider if you want a brick-and-mortar shop or online marketplace, and how much you want to invest in expenses like advertising, supplies, and employees. Alissa Quart, executive director of the Economic Hardship Reporting Project and author of the book “Squeezed: Why Our Families Can’t Afford America,” told Grow earlier this year that consumers often underestimate those start-up costs, partly because such expenses aren’t always obvious. If you drive for a ride-share company, for example, you may end up paying a lot more for car maintenance and repairs.

3. Consider the cost of replacing employee benefits

When you go out on your own, you don’t just need to replicate your salary, or some portion of it: The company benefits you’re losing can be worth thousands of dollars, too, and you may need to end up covering at least some of those costs yourself. Take health insurance, for example. The average annual single person premium to an employee-sponsored health-care plan is $1,427, with the employer covering another $5,288, according to 2019 data from the Kaiser Family Foundation. If you’re buying your own coverage through the marketplace, average monthly premiums range from $339 on a bronze plan to $519 on a gold plan, which works out to $4,068 to $6,228 out-of-pocket costs annually.

4. Determine how much you can charge


Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: myelle lansat, stephen parkhurst, anna-louise jackson, sam becker
Keywords: news, cnbc, companies, heres, plan, hustle, expenses, turn, business, stumpf, costs, need, know, ready, youre, financial, job, fulltime


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