Here are the top 5 things people wish they hadn’t spent their hard-earned money on

You may not look into whether a car has a record of extensive repairs or what its gas mileage is. Let go of how much you spent, says Webb-Trujillo, who works in sales in northern Las Vegas. But Furman, a health-care recruiter in Minneapolis who has a personal finance blog, recently calculated just how much they’d spent. “Given the choice of spending $30,000 on a wedding or for a down payment, brides routinely choose the wedding,” Edelman said. “Knowing everything I do know, I wish we’d taken the


You may not look into whether a car has a record of extensive repairs or what its gas mileage is. Let go of how much you spent, says Webb-Trujillo, who works in sales in northern Las Vegas. But Furman, a health-care recruiter in Minneapolis who has a personal finance blog, recently calculated just how much they’d spent. “Given the choice of spending $30,000 on a wedding or for a down payment, brides routinely choose the wedding,” Edelman said. “Knowing everything I do know, I wish we’d taken the
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Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: jill cornfield
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Here are the top 5 things people wish they hadn't spent their hard-earned money on

Whether it’s weekly Thai takeout or an air purifier you never took out of the box, most people have buyer’s remorse about something. Regret purchases tend to come in three types: things you never used; habitual things, like restaurant meals or drinks you no longer get any value from; or expensive things that kept you paying for a long time. In the Invest in You Spending Survey from CNBC + Acorns in partnership with SurveyMonkey, respondents pointed to clothes, alcohol and meals as purchases they came to regret. But it’s those expensive things — cars, timeshares, RVs — that are real pain points. Failing to realize the total costs of ownership is one of the biggest financial mistakes people make, says Ric Edelman, founder of Edelman Financial Engine. In other words, you look at the monthly payment on a new car without factoring in the costs of insurance and maintenance. You may not look into whether a car has a record of extensive repairs or what its gas mileage is. “Most SUVs and trucks get very poor mileage, and when people buy when gas prices are low, they don’t give it much thought,” Edelman said. “But the difference between 15 and 30 miles per gallon literally doubles your expense for transportation for fuel.” Life is too short to spend time beating yourself up over past mistakes. “Always look for the lesson,” said Susan Webb-Trujillo, 58, who says she has no regrets over past financial missteps. “I’ve also learned it is pointless to try to recoup any monetary loss if an object no longer fits a need.” Let go of how much you spent, says Webb-Trujillo, who works in sales in northern Las Vegas. “It is easier to remind yourself to not do the same thing again.” Here are five purchases that consumers regret the most.

1. Timeshares

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Vicky Morales, 39, says she would never, ever again buy a timeshare. Vacation purchases can bring a lot of bitterness. Add confusing terms and the high-pressure sales tactics from companies that sell timeshares and you’ve got yourself a perfect storm of buyer’s remorse. Morales, who works with mortgages in southern California, bought into a large chain’s points system while on vacation in Hawaii in 2006. The presentation was tantalizing but confusing. “I was so misinformed by the way they sold it,” she said. “They offered us dinner and a lot of perks, and at the end I got $500 cash.” The points system Morales bought was $10,000 — closer to $13,000 with interest charges. The salesman didn’t go over the contract, and she wasn’t aware of the annual $600 fees. Morales had second thoughts when she returned home, so she called the salesman to cancel. But he persuaded her not to because it would reflect poorly on his performance. “I was young, and didn’t want him to look bad,” she said. As soon as Morales was finished paying for her timeshare, she put it up for sale after using it only a handful of times. “Definitely don’t do it without doing the proper research,” Morales said. She hopes to help prevent someone else from buying into one.

2. Expensive rides

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Over decades, monthly car payments can add up to a shocking amount. Jodi Furman, 45, thought she was doing everything right. She and her husband always had fairly nice cars — certified pre-owned ones — starting in their 20s. They shopped around. They made sure to get the best financing rates. But Furman, a health-care recruiter in Minneapolis who has a personal finance blog, recently calculated just how much they’d spent. “It’s a little stunning to think it’s in the nature of $200,000,” Furman said. “I’m a little sick to my stomach, honestly.” More from Invest in You:

Rent or buy refurbished so you can put money into a true investment

Make these 5 tweaks to your summer spending so you’re richer this fall

These people in their 30s are doing a simple thing to get rich Furman always had thought of car payments as a fixed cost. Her lightbulb moment came when she paid cash for a 10-year-old car because she wanted to lighten their credit load to qualify for a mortgage. “I figured I’d use it for five months and then trade it in,” she said. Within a few months she had saved about $4,000 on car payments and lower insurance — without lowering their coverage — and, she says, the car was still worth about what she’d paid for it.

3. Ultra-fancy weddings

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Wedding expenses can look very different years later. “Given the choice of spending $30,000 on a wedding or for a down payment, brides routinely choose the wedding,” Edelman said. They routinely express regret over that nuptials tab later, he added. At the time she got married, Ashlea Beers, 35, says she was very proud of how she and her fiance managed to rein in costs and spend just $5,000 for their wedding. But more than 10 years later the Denver stay-at-home mom says a great honeymoon would have been a much better way to spend the money. “You need to focus on each other,” said Beers. If you need to choose, a honeymoon is the better way to celebrate a relationship. As a former wedding coordinator and etiquette expert, Elaine Swann, founder of the Swann School of Protocol in Carlsbad, California, knows a thing or two about wedding costs. Among the first things she’d have a bride do is put together a realistic budget. Otherwise, you’ve got a train that’s left the station and is roaring along. Instead of starting with the number of guests, work backward from the amount of money you’ll be able to set aside by the date of the wedding. “That will give you a good idea of the type of wedding you can have,” Swann said. “Don’t borrow, and don’t go into debt.” “Knowing everything I do know, I wish we’d taken the money and eloped,” Beers said.

4. RVs

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Allison Hale, 33, was moving across Texas to Austin. Inspired by the tiny house movement, she and her husband thought it would be fun to do something different when they sold their house, so they gave away most of their belongings and bought a huge RV for about $35,000. “We loved living in an RV,” she said. What they didn’t love: how expensive and difficult it was to find parking. The family stayed at lake resorts in the Austin area and, on top of the monthly payments and insurance, paid around $1,000 a month in resort fees. It was a good experience, and Hale says their young sons loved it. Then they left the RV for a few days, accidentally leaving the water on, causing a huge amount of damage. Many regard RVs as second homes, and the tax code treats them that way, too, says Edelman. “The problem is that homes tend to rise in value and RVs tend to fall in value,” Edelman said. “They’re not built to last 50 to 100 years the way houses are.” Hale’s vehicle is now worthless, but they are still on the hook each month for close to $1,500 for financing, storage and insurance. “Even finding someone to fix it has been a challenge,” Hale said. If you still think an RV is for you, Hale has this advice: Buy something you can afford, and pay cash. Be very realistic about where you’re going to put it and where you can afford to put it. Have an exit plan — don’t simply think you’ll put it in storage. Know that even with good insurance, you can still be liable for various expenses.

5. Fixer-uppers

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Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: jill cornfield
Keywords: news, cnbc, companies, hardearned, look, way, things, hadnt, car, wedding, edelman, insurance, getty, dont, money, wish, spent, morales


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I’ve been in finance for 30 years—and this is how I teach my kids about money

We play “Let’s Go Shopping”I’ve found that my kids are more engaged in the learning process when it’s experimental or gamified. We guide them through the budgeting processThe easiest way to teach your kids about budgeting is to budget together. That’s why it’s important to explain — in layman’s terms — how their money is earning more money (passive income) and how that additional money will continue to generate even more money (compounding). This is a great way to teach them about sharing, kindn


We play “Let’s Go Shopping”I’ve found that my kids are more engaged in the learning process when it’s experimental or gamified. We guide them through the budgeting processThe easiest way to teach your kids about budgeting is to budget together. That’s why it’s important to explain — in layman’s terms — how their money is earning more money (passive income) and how that additional money will continue to generate even more money (compounding). This is a great way to teach them about sharing, kindn
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Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: jim brown
Keywords: news, cnbc, companies, wife, ive, yearsand, kids, teach, financial, way, help, money, children, good, play, 30, finance, parents


I've been in finance for 30 years—and this is how I teach my kids about money

Teaching your children about money doesn’t have to be complicated. You either put in the effort and time, or you don’t. And if you do, it’s best to start sooner rather than later. (According to a 2013 Cambridge University study , children are already able to grasp basic money concepts at age three, and by age seven, their money habits are already set.)

In my 30 years of professional experience, I’ve worked as an auditor, investor, tax preparer and financial consultant — and I’ve witnessed the impact of financial literacy (or lack thereof) on countless adults of all ages.

I hear this question often, and if you’re a parent, you’ve probably Googled it several times yourself.

My wife and I have two kids, both under 14. Like most parents, we don’t want them to suffer from financial anxiety when they’re older. Nor do we want them to be in debt and have to eat into our retirement savings.

The same way we want them to understand the importance of telling the truth or saying “please” and “thank you,” we also want them to understand the importance of money: What it’s worth, why it’s important and how to practice smart habits that lead to success.

In order to do that, we keep things fun and simple:

1. We play “Let’s Go Shopping”

I’ve found that my kids are more engaged in the learning process when it’s experimental or gamified. “Let’s Go Shopping” was a game we played when they were in preschool.

To start, we created a miniature supermarket in our living room — complete with a toy cash register and a farmer’s market fruits and vegetables play set. The register featured a numerical keypad, cash drawer and pretend money.

After my wife and I priced the items, we had one child do the shopping while the other handled checkout. We stood by to facilitate and answer questions. But eventually, they became skilled enough to play on their own.

Stimulating the shopping experience sharpened their math and budgeting skills. It also helped them feel more comfortable talking to one another about money.

2. We play “How Much Does It Cost?”

A game that we continue to play is “How Much Does It Cost?” (It’s basically our family’s version of “The Price Is Right.”)

At the dinner table, we all take turns presenting arbitrarily selected items for sale, along with multiple choice answers for their approximate prices.

A few examples:

Water bottle: $0.50, $2.50 or $6?

Movie ticket: $4, $10 or $40?

Monthly phone bill: $12, $100 or $400?

New (basic) car: $5,000, $35,000 or $500,000?

Games like this help them understand the relative values of various products and services.

3. We don’t freely give them money

One of the biggest mistakes I see parents making is offering unlimited funds to their children for non-essentials.

Our kids started getting a weekly allowance when they turned six. We’d give them $6 per week and increased the amount by $1 each year they got older. They could earn more if they did something good that week, like offer to help someone or ace a math test.

Of course, there are no set rules as to how much you should give your children; it mostly depends on your financial means and what you expect them to be financially responsible for.

The consequences of giving your children unlimited funds for discretionary spending (especially after they’ve used up their entire allowance) aren’t realized by most parents until much later.

Children of parents who do this may develop the habit of relying on additional funding sources that can be quite costly, such as debt in the form of high-interest credit cards.

4. We guide them through the budgeting process

The easiest way to teach your kids about budgeting is to budget together.

When my kids get invited to a birthday party, for example, I give them a reasonable budget and help them shop for a gift that stays within their price lane. (My wife and I prefer to do this on Amazon because it’s an easy way to teach them how to comparison shop.)

5. We show them how to put their money to work

When my oldest daughter saved up enough money, we relocated her cash from a piggy bank to a local bank.

“Congratulations! You’re putting your money to work,” I said.

Even though the process makes complete sense to you, it might be too abstract for some children. That’s why it’s important to explain — in layman’s terms — how their money is earning more money (passive income) and how that additional money will continue to generate even more money (compounding).

These are concepts and skills that will serve them for life.

6. We encourage them to do good with their money

My wife and I make it a point to donate to charity or a nonprofit organization every once in a while. It sets a good example for our kids and discourages behaviors of selfishness and greed.

When our kids have saved up enough money, we review a list of charitable organizations together (Charity Watch is a good place to start) and have them pick one that supports a mission they value.

This is a great way to teach them about sharing, kindness and how money — whether it’s $1 or $10 — can be used to help others.

Jim Brown is a financial consultant and the founder of Jim Brown Investing. With more than 30 years of expertise in the financial industry, Jim has been interviewed on Yahoo! Finance TV, the So Money Podcast with Farnoosh Torabi, KFNN Money Radio and U.S. News & World Report. He is also the co-author of “Financial Statement Fraud Casebook: Baking the Ledgers and Cooking the Books.”

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Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: jim brown
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Cramer: Netflix went from ‘easy money to hard money’ in one fell swoop

In one fell swoop, Netflix went from easy money to hard money,” the “Mad Money” host said. Netflix shares surged in January after the video platform announced that it would raise prices between 13% and 18%. “I have a very simple rule of thumb, here in Cramerica: Always go for the easy money not the hard money, no matter how much you might be tempted.” And if you have to guess, it’s no longer easy money, it’s hard,” the host said. And I’d much rather chase easy money every day of the week than ha


In one fell swoop, Netflix went from easy money to hard money,” the “Mad Money” host said. Netflix shares surged in January after the video platform announced that it would raise prices between 13% and 18%. “I have a very simple rule of thumb, here in Cramerica: Always go for the easy money not the hard money, no matter how much you might be tempted.” And if you have to guess, it’s no longer easy money, it’s hard,” the host said. And I’d much rather chase easy money every day of the week than ha
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Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: tyler clifford
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Cramer: Netflix went from 'easy money to hard money' in one fell swoop

The once-consistent Netflix has “suddenly become erratic” as investors grapple with the company’s second-quarter subscriber woes, CNBC’s Jim Cramer said Thursday.

The share price tumbled more than 10% during the session and the reaction from portfolio managers influenced moves in the rest of the market as the averages digested earnings, he said. The Dow Jones Industrial Average added a little more than 3 points, snapping a two-day losing streak. The S&P 500 gained 0.36% and the Nasdaq Composite rose 0.27%.

“We’ve seen Netflix stumble before, especially maybe after a price hike, but not quite like this. In one fell swoop, Netflix went from easy money to hard money,” the “Mad Money” host said. “In a single quarter, Wall Street went from sanguine to skeptical.”

Netflix shares surged in January after the video platform announced that it would raise prices between 13% and 18%. A basic plan was increased to $9 from $8 and its most expensive plan increased to $16 from $14.

The domestic subscription based shrunk by 126,000 in the second quarter, which Netflix attributed to multiple factors including regional price increases and a “pull-forward effect” from the first quarter.

“I’ll blame myself. I got it wrong,” Cramer said. “We thought Netflix was the kind of company that could raise prices with impunity. If that’s not the case, we need to take it out of the bin of consistency and put it in the bin of the episodic and perhaps even, heaven forbid, dispensable.”

Netflix also faces more competition from companies such as Disney and Comcast-subsidiary NBCUniversal, who have plans to launch their own streaming services and pull their respective popular TV shows “The Office” and “Friends” from the platform. Last month, Cramer ranked Netflix second to Disney on his list of the top seven streaming services to invest in.

For the amount of content that consumers can get on Netflix, the host said he thought a price increase would not have a negative impact on the subscriber base.

“This makes it a much less compelling story,” he said. “I have a very simple rule of thumb, here in Cramerica: Always go for the easy money not the hard money, no matter how much you might be tempted.”

Cramer said that Netflix can no longer be compared to the likes of Costco, Amazon Prime, Spotify or Apple, who all offer services people are willing to pay for “without thinking about it.” He’s not alone: Gene Munster, founding partner of Loup Ventures, said he thinks the company’s best days are behind it.

“If it’s not part of that club, you have to guess how much people are willing to shell out what they’re paying. And if you have to guess, it’s no longer easy money, it’s hard,” the host said.

Netflix’s stock price lost more than 37 points, closing down Thursday at $325.21 per share. Shares are up more than 21% in 2019, but down more than 13% in the past year.

“I’m not saying it’s a bad story, maybe it’s already making a comeback,” Cramer said. But, then again, maybe it’s not — and that’s why it’s hard money. And I’d much rather chase easy money every day of the week than hard money ever.”

Disclosure: Cramer’s charitable trust owns shares of Amazon, Apple, Disney and Comcast. NBCUniversal is the parent company of CNBC.


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: tyler clifford
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Here’s how much money Americans say you need to be ‘rich’

To be considered “rich,” Americans say you need a net worth of at least $2.3 million. For those still working, you’d need to earn an annual salary of over $300,000 to earn the “rich” title. The median net worth is $97,300, according to the Federal Reserve’s most recent research, the 2016 survey of consumer finances. Millennials : It takes $2.2 million to be considered rich: It takes $2.2 million to be considered rich Gen X : It takes $2.6 million to be considered rich: It takes $2.6 million to b


To be considered “rich,” Americans say you need a net worth of at least $2.3 million. For those still working, you’d need to earn an annual salary of over $300,000 to earn the “rich” title. The median net worth is $97,300, according to the Federal Reserve’s most recent research, the 2016 survey of consumer finances. Millennials : It takes $2.2 million to be considered rich: It takes $2.2 million to be considered rich Gen X : It takes $2.6 million to be considered rich: It takes $2.6 million to b
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Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: megan leonhardt
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Here's how much money Americans say you need to be 'rich'

To be considered “rich,” Americans say you need a net worth of at least $2.3 million.

That’s according to a recent poll by SeniorLiving.org, which asked 1,000 U.S. adults how much a person would need to have in order to be called “rich.” For those still working, you’d need to earn an annual salary of over $300,000 to earn the “rich” title.

In comparison, the median U.S. household income was $60,336 in 2017, according to the latest data available from the U.S. Census. The median net worth is $97,300, according to the Federal Reserve’s most recent research, the 2016 survey of consumer finances. The average net worth is significantly higher: $692,100, according to the Federal Reserve.

The responses did vary slightly by generation. Baby boomers (ages 55 to 73) and Gen X (ages 38 to 54), unsurprisingly, named a higher net worth required to be rich, while millennials (ages 21 to 38) gave a slightly lower figure.

Millennials : It takes $2.2 million to be considered rich

: It takes $2.2 million to be considered rich Gen X : It takes $2.6 million to be considered rich

: It takes $2.6 million to be considered rich Boomers: It takes $2.6 million to be considered rich

The poll’s results tracked with a similar survey, the Schwab Modern Wealth Index, which was released earlier this year. About 1,000 adults between the ages of 21 and 75 told Schwab that you needed a net worth of $2.27 million to be considered wealthy.

Regardless of what you think it takes to be rich, don’t wait to start building up your wealth. You may not be rich today, but by saving up throughout your life, you can likely achieve real wealth and financial security.

“Building your net worth is a life’s journey — it’s not something that can happen overnight,” says Farnoosh Torabi, personal finance author and host of the “So Money” podcast.

For some, there may be a limit to how much you can do with your money, especially if you have student loans, credit card debt and other monthly expenses. But “getting into the habit of saving” can be really simple and can produce long-term benefits, Torabi explains.

Make saving easy by setting up a regular, automatic transfer from your checking account to a savings account. This doesn’t have to be a lot, maybe $5 a day or even $5 a week. “The key is to have it leave your hands before you get a chance to spend it,” Torabi says. “Over the course of six months, a year or even just a little bit of saving at a time… [it] will accumulate and it will motivate you to do more.”

Don’t miss: Self-made millionaire: This is the No. 1 way to get rich—and most young people are not doing it

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Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: megan leonhardt
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Ron Insana: Digitize the dollar faster and end the frenzy for fake money

To the Treasury Department and the Federal Reserve: Please formally digitize the dollar and put an end to all this crypto-craziness. We have a token that already is a medium of exchange, storehouse of value and unit of account. They are not backed by anything, despite the complaints of crypto-enthusiasts who decry the use of fiat money. There are no currencies, save for those of failed states, that have less “backing” than bitcoin, Libra, ethereum, etc. (A record $13 trillion of global sovereign


To the Treasury Department and the Federal Reserve: Please formally digitize the dollar and put an end to all this crypto-craziness. We have a token that already is a medium of exchange, storehouse of value and unit of account. They are not backed by anything, despite the complaints of crypto-enthusiasts who decry the use of fiat money. There are no currencies, save for those of failed states, that have less “backing” than bitcoin, Libra, ethereum, etc. (A record $13 trillion of global sovereign
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Ron Insana: Digitize the dollar faster and end the frenzy for fake money

To the Treasury Department and the Federal Reserve: Please formally digitize the dollar and put an end to all this crypto-craziness.

This bitcoin BS and Libra lunacy should stop.

We have a token that already is a medium of exchange, storehouse of value and unit of account. It’s called the dollar. And, quite frankly, it’s already largely been digitized.

How often does payroll department drop by your desk and leave a check?

Hardly ever anymore. Your pay is directly deposited into your bank account form which you may sometimes withdraw cash or coin.

More often than not, you use a debit/credit card to buy goods and services or pay your bills by automatic electronic transfer. That’s digital design.

The world doesn’t need a new currency, crypto or otherwise, to replace the U.S. dollar.

It’s true that the cost of all financial transactions needs to come down and that more efficiencies are needed to speed up transaction times.

Cryptocurrencies are not created more quickly than dollars. They are not backed by anything, despite the complaints of crypto-enthusiasts who decry the use of fiat money. There are no currencies, save for those of failed states, that have less “backing” than bitcoin, Libra, ethereum, etc.

The U.S. dollar is backed by not just a $20 trillion economy, but by the assets owned by the U.S. government and by Treasury securities that carry a positive yield, making U.S. debt a haven for investors seeking a return on cash.

(A record $13 trillion of global sovereign debt carries a negative yield, again, making the dollar, and dollar-denominated assets, an attractive place in which to invest.)


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: ron insana
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Elizabeth Warren attacks the private equity industry with new regulation proposals

Sen. Elizabeth Warren, as well as three other Democratic Presidential hopefuls Sen. Kirsten Gillibrand, Gov. Democratic presidential candidate Elizabeth Warren aimed her campaign of economic populism on Thursday at a new target: the private equity industry. The Massachusetts senator, in tandem with colleagues on Capitol Hill, introduced what she calls the “Stop Wall Street Looting Act.” Specifically, Warren proposes to:Make private equity firms responsible for debts and pension obligations of co


Sen. Elizabeth Warren, as well as three other Democratic Presidential hopefuls Sen. Kirsten Gillibrand, Gov. Democratic presidential candidate Elizabeth Warren aimed her campaign of economic populism on Thursday at a new target: the private equity industry. The Massachusetts senator, in tandem with colleagues on Capitol Hill, introduced what she calls the “Stop Wall Street Looting Act.” Specifically, Warren proposes to:Make private equity firms responsible for debts and pension obligations of co
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Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: john harwood
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Elizabeth Warren attacks the private equity industry with new regulation proposals

Sen. Elizabeth Warren, as well as three other Democratic Presidential hopefuls Sen. Kirsten Gillibrand, Gov. Jay Inslee and react to questions during the Daily Kos/Netroots Nation candidate forum, at the Convention Center in Philadelphia, PA, on July 13, 2019.

Democratic presidential candidate Elizabeth Warren aimed her campaign of economic populism on Thursday at a new target: the private equity industry.

The Massachusetts senator, in tandem with colleagues on Capitol Hill, introduced what she calls the “Stop Wall Street Looting Act.” It stands no chance of enactment so long as Republicans control the White House and Senate, but it matters because Warren has risen to the top tier of 2020 Democratic contenders.

Specifically, Warren proposes to:

Make private equity firms responsible for debts and pension obligations of companies they buy.

Limit the ability of firms to extract fees, bonuses and dividends from their acquisitions.

Reinstate the abandoned Glass-Steagall wall separating commercial banks from investment banks.

Change executive compensation rules to ensure that bankers who profit from speculative bets also assume risk if their bets go bust.

Expand financial services for Americans of modest means by allowing the U.S. Postal Service to join community banks and credit unions in offering low-cost checking and savings accounts.

Warren framed her proposal as an effort to shrink the amount of money wasted on 21st century financial engineering and redirect it to improve the living standards of average American families. She cited a range of “legalized looting” examples, including Sun Capital guiding discount retailer ShopKo toward bankruptcy and Alden Global Capital forcing job cuts at The Denver Post newspaper after acquiring it.

“To raise wages, help small businesses and spur economic growth, we need to shut down the Wall Street giveaways and rein in the financial industry so it stops sucking money out of the rest of the economy,” the former Harvard professor argued in a Medium post.

Among those joining Warren in sponsoring the plan is one of her Democratic rivals for the presidential nomination, Sen. Kirsten Gillibrand of New York. In less than two weeks, both women will join the rest of the Democratic field on stage in Detroit for the second series of the party’s presidential debates.


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: john harwood
Keywords: news, cnbc, companies, wall, equity, rest, money, private, warren, regulation, financial, street, democratic, attacks, sen, industry, proposals, presidential, elizabeth


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Feds end probe of hush money that Trump lawyer Michael Cohen directed to Stormy Daniels, Karen McDougal

Federal prosecutors in New York have ended their campaign finance investigation into hush money payments arranged by President Donald Trump’s former lawyer Michael Cohen to two women who claim they had sex with Trump, a judge revealed Wednesday. “The campaign finance violations discussed in the Materials are a matter of national importance,” he wrote. It was not clear if the move by prosecutors to end the campaign finance probe of Cohen meant that no other charges would be lodged in connection w


Federal prosecutors in New York have ended their campaign finance investigation into hush money payments arranged by President Donald Trump’s former lawyer Michael Cohen to two women who claim they had sex with Trump, a judge revealed Wednesday. “The campaign finance violations discussed in the Materials are a matter of national importance,” he wrote. It was not clear if the move by prosecutors to end the campaign finance probe of Cohen meant that no other charges would be lodged in connection w
Feds end probe of hush money that Trump lawyer Michael Cohen directed to Stormy Daniels, Karen McDougal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: kevin breuninger dan mangan, kevin breuninger, dan mangan
Keywords: news, cnbc, companies, hush, lawyer, mcdougal, stormy, michael, president, investigation, closed, campaign, portions, karen, feds, prosecutors, cohen, finance, payments, trump, money, probe, materials


Feds end probe of hush money that Trump lawyer Michael Cohen directed to Stormy Daniels, Karen McDougal

Michael Cohen, the former personal attorney of President Donald Trump, departs the U.S. Capitol after testifying before a closed House Intelligence Committee hearing on Capitol Hill in Washington, February 28, 2019.

Federal prosecutors in New York have ended their campaign finance investigation into hush money payments arranged by President Donald Trump’s former lawyer Michael Cohen to two women who claim they had sex with Trump, a judge revealed Wednesday.

U.S. District Judge William Pauley also ordered Wednesday that materials related to the probe of Cohen and those payments should be unsealed — and denied a request by prosecutors to keep certain portions blacked out.

Pauley ordered that related materials and a recent status report from the prosecutors, which are currently sealed from public view, be made public in U.S. District Court in Manhattan at 11 a.m. ET Thursday.

While prosecutors agreed that the “majority of the campaign finance portions of the Materials may be unsealed,” they wanted some portions of the materials kept hidden, according to the judge.

Pauley refused.

“The campaign finance violations discussed in the Materials are a matter of national importance,” he wrote. “Now that the Government’s investigation into those violations has concluded, it is time that every American has an opportunity to scrutinize the Materials.”

It was not clear if the move by prosecutors to end the campaign finance probe of Cohen meant that no other charges would be lodged in connection with the hush money payments. A Justice Department spokeswoman declined to comment and deferred to the publicly filed documents. Cohen’s spokesman, Lanny Davis, declined to comment.

Trump’s lawyer, Jay Sekulow, said in a statement: “We are pleased that the investigation surrounding these ridiculous campaign finance allegations is now closed. We have maintained from the outset that the President never engaged in any campaign finance violation.”

“Another case is closed,” Sekulow added.


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: kevin breuninger dan mangan, kevin breuninger, dan mangan
Keywords: news, cnbc, companies, hush, lawyer, mcdougal, stormy, michael, president, investigation, closed, campaign, portions, karen, feds, prosecutors, cohen, finance, payments, trump, money, probe, materials


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Bernie Sanders urges his 2020 rivals to reject pharma and insurance company money

Bernie Sanders plans to crank up the pressure on his 2020 Democratic primary rivals over health care. During a speech Wednesday advocating for “Medicare for All,” the Vermont independent will urge all Democratic presidential candidates to reject money from the insurance and pharmaceutical industries. Sanders has long pushed for a government run, single-payer health insurance system to offer comprehensive coverage to all Americans. By calling on his rivals to reject drug and insurance company mon


Bernie Sanders plans to crank up the pressure on his 2020 Democratic primary rivals over health care. During a speech Wednesday advocating for “Medicare for All,” the Vermont independent will urge all Democratic presidential candidates to reject money from the insurance and pharmaceutical industries. Sanders has long pushed for a government run, single-payer health insurance system to offer comprehensive coverage to all Americans. By calling on his rivals to reject drug and insurance company mon
Bernie Sanders urges his 2020 rivals to reject pharma and insurance company money Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: jacob pramuk
Keywords: news, cnbc, companies, rivals, company, urges, bernie, reject, democratic, insurance, industries, singlepayer, pharma, candidates, field, medicare, 2020, health, sanders, money


Bernie Sanders urges his 2020 rivals to reject pharma and insurance company money

Bernie Sanders plans to crank up the pressure on his 2020 Democratic primary rivals over health care.

During a speech Wednesday advocating for “Medicare for All,” the Vermont independent will urge all Democratic presidential candidates to reject money from the insurance and pharmaceutical industries. He will push the field of about two dozen not to “knowingly” accept donations greater than $200 from political action committees, lobbyists or “top executives” for the industries, the Sanders campaign said.

“If we are going to break the stranglehold of corporate interests over the health care needs of the American people, we have got to confront a Washington culture that has let this go on for far too long,” Sanders will say, according to his campaign. “That is why I am calling on every Democratic candidate in this election to join us in rejecting money from the insurance and drug industries. Candidates who are not willing to take that pledge should explain to the American people why those interests believe their campaigns are a good investment.”

Sanders has long pushed for a government run, single-payer health insurance system to offer comprehensive coverage to all Americans. He has contended the system will not only cover more Americans and cut their health costs, but also root out corruption and inefficiencies in the private health industry.

But as a means to stand out in a crowded field, single-payer has lost some of its luster for Sanders as it gains traction within the party. Four of Sanders’ primary competitors — Sens. Cory Booker, D-N.J., Kirsten Gillibrand, D-N.Y., Kamala Harris, D-Calif., and Elizabeth Warren, D-Mass. — co-sponsored the Medicare for All bill he introduced earlier this year.

By calling on his rivals to reject drug and insurance company money, Sanders aims to distance himself again on health care — which voters consistently rank among their top concerns. It also fits into a broader strategy within the Democratic field: Many candidates have railed against large individual contributions or corporate donations, arguing they corrupt the political process.

It was not immediately clear how much the industry executives, lobbyists and PACs have given to 2020 Democratic candidates so far. Candidates filed their financial disclosures for the second quarter, the first major fundraising period for some contenders, earlier this week.

Sanders’ remarks Wednesday come as he faces more pressure over his support for Medicare for All. Former Vice President Joe Biden — who has led most early national and state polls in the race — slammed the single-payer proposal while outlining his health care plan on Monday.


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: jacob pramuk
Keywords: news, cnbc, companies, rivals, company, urges, bernie, reject, democratic, insurance, industries, singlepayer, pharma, candidates, field, medicare, 2020, health, sanders, money


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Do these 5 things to get your money in order before 2020, says financial expert

Hopefully, these milestones will inspire you to take another look at your 2019 financial resolutions and see where you stand. A few essential questions to ask yourself: Are you on track to meeting your financial goals by the end of 2020? Were there any changes this year in important financial factors such as your income, bills, expenses, insurance, investments, debt and savings? Find out what your fixed (e.g., monthly bills on rent, mortgage, utilities) and variable expenses (e.g. You probably w


Hopefully, these milestones will inspire you to take another look at your 2019 financial resolutions and see where you stand. A few essential questions to ask yourself: Are you on track to meeting your financial goals by the end of 2020? Were there any changes this year in important financial factors such as your income, bills, expenses, insurance, investments, debt and savings? Find out what your fixed (e.g., monthly bills on rent, mortgage, utilities) and variable expenses (e.g. You probably w
Do these 5 things to get your money in order before 2020, says financial expert Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: tiffany aliche
Keywords: news, cnbc, companies, yearend, youre, budget, order, need, credit, check, expenses, things, dont, 2020, expert, variable, money, financial


Do these 5 things to get your money in order before 2020, says financial expert

We’re just a little more than five months away from 2020. Crazy, isn’t it? The year has flown by — along with some major financial milestones: Jay-Z reached billionaire status, Rihanna became America’s richest female musician and tech investor Robert F. Smith pledged to pay off student loans for Morehouse College’s class of 2019. Hopefully, these milestones will inspire you to take another look at your 2019 financial resolutions and see where you stand. Here’s what you need to do:

1. Review your finances

The first step is to do a run-through of your finances and get an idea of how you’re doing so far. A few essential questions to ask yourself: Are you on track to meeting your financial goals by the end of 2020?

Were there any changes this year in important financial factors such as your income, bills, expenses, insurance, investments, debt and savings?

What areas need more focus and improvement?

What will your year-end returns be? Are you satisfied with them?

Are you prepared for tax season?

Are you saving enough for retirement?

2. Refine your budget plan

I’ve seen a lot of people create vague budget plans based on loose commitments. But now is the time to really zoom in on your spending and savings habits so you know what necessary changes need to be made. Find out what your fixed (e.g., monthly bills on rent, mortgage, utilities) and variable expenses (e.g. groceries, entertainment, gas) are. Don’t use estimated numbers — be as specific as possible so you can get a more accurate measure of your progress. You probably won’t be able to lower your fixed expenses by much, so try to focus on your variable expenses. Check your monthly credit and banking statements to see what you’re spending on. Then, identify what you can eliminate or cut back on.

3. Check your credit

Request a free credit report online and review it carefully. For the most part, check for errors that need to be addressed immediately. A few of the most common mistakes include: Incorrect first and last names

Addresses you never lived at

Employers you never worked for

Accounts you don’t recognize

Accounts listed as open even though you already closed them

Incorrect balances Check your credit score, too. Lenders take credit scores seriously when deciding whether someone qualifies for a loan or good interest rate. If you have a low credit score, but plan to take out a mortgage in the near future, figure out what you need to do to improve it before applying for a mortgage.

4. Don’t forget to give

The holidays will be here before you know it, so start making your charitable, tax-deductible donations now. Keep your receipts and contribution forms organized in a folder so you’ll have an easier time filing your taxes. This is also a good time to think about what’s on everyone’s wish list and create your holiday budget. A lot of people get excited about year-end sales, but those deals are typically offered occasionally throughout entire year. Getting your gifts early will allow you more time to comparison shop. Bonus: You get to skip the long lines and overwhelming crowds of shoppers when the holidays come around.

5. Take action immediately


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: tiffany aliche
Keywords: news, cnbc, companies, yearend, youre, budget, order, need, credit, check, expenses, things, dont, 2020, expert, variable, money, financial


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Kevin O’Leary: Never give your kids a credit card — here’s why

Plenty of parents are giving their kids credit cards these days and financial expert and “Shark Tank” star Kevin O’Leary has something to say about it. He believes there is no good age — or time — for a parent to open a credit card for their kids. “When should kids get a credit card? While some parents may make the case that getting a credit card could help their kids build credit and get a better credit score for the future if used responsibly, O’Leary has a better idea. Don’t miss: Why Kevin O


Plenty of parents are giving their kids credit cards these days and financial expert and “Shark Tank” star Kevin O’Leary has something to say about it. He believes there is no good age — or time — for a parent to open a credit card for their kids. “When should kids get a credit card? While some parents may make the case that getting a credit card could help their kids build credit and get a better credit score for the future if used responsibly, O’Leary has a better idea. Don’t miss: Why Kevin O
Kevin O’Leary: Never give your kids a credit card — here’s why Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: jade scipioni
Keywords: news, cnbc, companies, card, parents, credit, cards, kevin, heres, kids, oleary, interest, money, thinks


Kevin O'Leary: Never give your kids a credit card — here's why

Plenty of parents are giving their kids credit cards these days and financial expert and “Shark Tank” star Kevin O’Leary has something to say about it.

He believes there is no good age — or time — for a parent to open a credit card for their kids.

“When should kids get a credit card? Never,” O’Leary tells CNBC Make It.

While some parents may make the case that getting a credit card could help their kids build credit and get a better credit score for the future if used responsibly, O’Leary has a better idea.

“[Kids] should get debit cards instead so they learn that you shouldn’t spend on credit,” he says.

“The fact is, the interest rates on credit cards are astronomical,” O’Leary previously said. Paying so much interest “is crazy.”

To teach his kids about money, O’Leary says he opened saving accounts for his children before they were 10 years old.

“I wanted them to see how money accrues interest,” he says. “And it’s a great thing to do because it helps them get into the concept of saving and investing and thinking long term.”

According to a 2017 T. Rowe Price survey, 44% of parents are extremely reluctant to discuss money with their kids. But O’Leary says he thinks parents should start teaching the basics as soon as their kids hit kindergarten.

“I think kids should be taught at the age of five onward where money comes from,” O’Leary told CNBC Make It last year. “We do a very poor job in North America telling kids about finance. We teach them sex education, geography, math, reading, all kinds of learning skills, but we don’t tell them about debt. No wonder they get into trouble as soon as they get a credit card.”

His advice is that families should have money talks as part of their daily dinner table conversations.

Like this story? Like CNBC Make It on Facebook.

Don’t miss: Why Kevin O’Leary thinks rocker Keith Richards’ memoir is the ‘best business book on the market’


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: jade scipioni
Keywords: news, cnbc, companies, card, parents, credit, cards, kevin, heres, kids, oleary, interest, money, thinks


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