3 insurance policies experts say you need in your 30s

Disability insurance provides income in the event you are unable to work for medical reasons. The typical cost of disability insurance is equal to 1%-3% of your annual income, so if you’re making $50,000 a year, that would be $500-$1,500 a year. “The core thing about disability insurance is the language and the verbiage of the policy,” says Solomon. Graphic preview Protecting yourself About 90% of disability claims are a result of typical medical issues. (If you don’t own yet, like so many Ameri


Disability insurance provides income in the event you are unable to work for medical reasons. The typical cost of disability insurance is equal to 1%-3% of your annual income, so if you’re making $50,000 a year, that would be $500-$1,500 a year. “The core thing about disability insurance is the language and the verbiage of the policy,” says Solomon. Graphic preview Protecting yourself About 90% of disability claims are a result of typical medical issues. (If you don’t own yet, like so many Ameri
3 insurance policies experts say you need in your 30s Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: myelle lansat, ivana pino, sofia pitt
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3 insurance policies experts say you need in your 30s

By the time you’re in your 30s, you may be taking on big-time commitments like getting married, buying your first home, or having children. So it’s smart to prepare for the “horrendous, awful, and recurring things that happen in life” — things that insurance coverage can help you financially recover from, says Neal Solomon, a certified financial planner, and managing director at WealthPro LLC in Gloversville, New York. Experts say 30-somethings should consider these three kinds of policies.

1. Disability insurance

“Your biggest asset is your ability to earn money,” says Solomon. Disability insurance provides income in the event you are unable to work for medical reasons. The typical cost of disability insurance is equal to 1%-3% of your annual income, so if you’re making $50,000 a year, that would be $500-$1,500 a year. You may be able to get coverage through your employer, a private plan, or both. “The core thing about disability insurance is the language and the verbiage of the policy,” says Solomon. To make sure you’re covered, assess options based on how long benefits last, when they kick in, and any medical conditions that aren’t covered.

Graphic preview Protecting yourself About 90% of disability claims are a result of typical medical issues. Here are the most common reasons for claims. Short-term disability Short-term Long-term disability kiersten schmidt/grow Council for Disability Awareness

2. Homeowners insurance

Homeowners insurance covers damage to your home and personal property from crises like fire, hail, and theft. The national average annual cost for home insurance is $1,228, according to a rate analysis by Insurance.com, although costs vary widely depending on where you live and how much coverage you need. (If you don’t own yet, like so many Americans in their 30s, renters insurance can protect you in similar ways.) Be mindful of coverage gaps. For example, when you’re preparing to buy a home, “the bank’s going to require [you] to have property insurance,” says Solomon — usually enough to cover your mortgage. But it’s smart to make sure your home is insured for the cost to rebuild, which is likely an even bigger total than what your lender requires. Consider whether you want to add coverage for disasters like floods or earthquakes, which policies typically exclude.

3. Life insurance


Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: myelle lansat, ivana pino, sofia pitt
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JC Penney to launch outdoor apparel shops within 100 stores as it attempts to boost sales

In a bid to boost sales, J.C. Penney said Tuesday it plans to launch an outdoor shop, selling apparel and other excursion gear, in 100 of its roughly 830 department stores next month. The company also announced the launch of an in-house brand called St. John’s Bay Outdoor, which will be in 600 Penney stores and online beginning Sept. 12. This new strategy from Penney comes as the embattled department store chain is struggling to boost sales, which fell 7% in the latest quarter. Fewer shoppers ar


In a bid to boost sales, J.C. Penney said Tuesday it plans to launch an outdoor shop, selling apparel and other excursion gear, in 100 of its roughly 830 department stores next month. The company also announced the launch of an in-house brand called St. John’s Bay Outdoor, which will be in 600 Penney stores and online beginning Sept. 12. This new strategy from Penney comes as the embattled department store chain is struggling to boost sales, which fell 7% in the latest quarter. Fewer shoppers ar
JC Penney to launch outdoor apparel shops within 100 stores as it attempts to boost sales Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: lauren thomas
Keywords: news, cnbc, companies, boost, stock, shops, company, stores, launch, attempts, penney, department, things, value, sales, trading, apparel, outdoor


JC Penney to launch outdoor apparel shops within 100 stores as it attempts to boost sales

In a bid to boost sales, J.C. Penney said Tuesday it plans to launch an outdoor shop, selling apparel and other excursion gear, in 100 of its roughly 830 department stores next month.

The company also announced the launch of an in-house brand called St. John’s Bay Outdoor, which will be in 600 Penney stores and online beginning Sept. 12. It will include woven shirts, jackets, vests, waterproof pants and other gear for men transitioning from exploring the outdoors to “a night out in style,” according to the company.

Michelle Wlazlo, a chief merchant for Penney, said the department store chain is leaning into this category as “America spends more time outdoors.”

“With this expansion, [Penney] is taking part in the nearly $900 billion outdoor recreation industry by offering functional, durable apparel with our customer expectations at the core, all at an incredible value,” she said in a statement. Prices for the St. John’s Bay Outdoor line will range from $11.99 to $44.99.

This new strategy from Penney comes as the embattled department store chain is struggling to boost sales, which fell 7% in the latest quarter. Fewer shoppers are seeking out department stores at the mall to buy clothing, shoes and home goods. Penney has also struggled to select the right assortment of inventory.

The company has tried things to excite customers in the past, like bringing in pint-sized Sephora makeup shops and running hair salons. More recently, it partnered with ThredUp to start selling secondhand clothing. But some efforts have fallen flat. Penney exited the appliance business in stores earlier this year, to focus on core categories like women’s apparel.

CEO Jill Soltau said in July that Penney was testing a slew of other things in Texas, where the company is headquartered, before moving ahead with a national rollout.

In Penney’s new outdoor shops, which are set to open in 100 stores on Oct. 4, the company also will have merchandise from three new national brands: denim-maker American Threads, and performance-wear companies The American Outdoorsman and HI-TEC. It said the shops will be about 800 square feet. They will also include some of the other brands that Penney sells, including Puma, Nike and Adidas.

With investors doubting the company’s future, Penney shares have lost more than half of their value from a year ago and are currently trading under 90 cents. The stock was trading above $11 back in 2016.

Penney received a notice from the New York Stock Exchange last month saying it was no longer in compliance with listing rules, with Penney’s stock trading below $1 for 30 days consecutively. The letter said that Penney has six months to regain compliance.

Penney, in a filing with the Securities and Exchange Commission, then said it plans to pursue a reverse stock split by its next annual meeting, which is scheduled for May of next year.


Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: lauren thomas
Keywords: news, cnbc, companies, boost, stock, shops, company, stores, launch, attempts, penney, department, things, value, sales, trading, apparel, outdoor


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Your kids don’t think your money skills measure up

While most of the nation’s youngest adults say they learn about money from Mom and Dad, they also think high schools should step up for future graduates. And although 74% say they mostly learn about money matters from their parents, just 58% name them as financial role models. Additionally, 51% are afraid money issues will stop them from doing the things they want to do in life. Parents also can do many things along the way to give their kids even some basic lessons about making choices with mon


While most of the nation’s youngest adults say they learn about money from Mom and Dad, they also think high schools should step up for future graduates. And although 74% say they mostly learn about money matters from their parents, just 58% name them as financial role models. Additionally, 51% are afraid money issues will stop them from doing the things they want to do in life. Parents also can do many things along the way to give their kids even some basic lessons about making choices with mon
Your kids don’t think your money skills measure up Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: sarah obrien, cnbc staff
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Your kids don't think your money skills measure up

While most of the nation’s youngest adults say they learn about money from Mom and Dad, they also think high schools should step up for future graduates.

More than three-quarters (76%) of 18- and 19-year-olds say classes about managing finances should be required in high school, according to new research from Experian. And although 74% say they mostly learn about money matters from their parents, just 58% name them as financial role models. Additionally, 51% are afraid money issues will stop them from doing the things they want to do in life.

“The one thing we know that kids are going to have to deal with as adults is money,” said certified financial planner Tom Henske, a partner at New York-based Lenox Advisors.

“They’re probably thinking, ‘How could you send me out into the world not being proficient in this very important topic?'” Henske said.

The Experian research was based on a survey that explored the attitudes of 18- and 19-year-olds — members of Generation Z — about a variety of personal finance topics, ranging from how they track their finances (their smartphone, of course) to their financial goals and the topics they want to know more about. Roughly half (52%) of the 545 people surveyed were enrolled in college and the remainder (48%) were not. A majority (64%) had never taken a personal finance class.

Although 45 states include the curriculum in their standards, just 19 require students to take such classes.

“We want kids to have a good pathway to a fruitful career, but then they arrive in adulthood and we haven’t given them essential tools they’ll need,” said Nan Morrison, CEO of the Council for Economic Education and a member of the CNBC Financial Wellness Council. “The best thing to do is teach them along the way, and schools are the right place for that.”

Parents also can do many things along the way to give their kids even some basic lessons about making choices with money and budgeting, Henske said. One of the simplest options is to give even young children an allowance.

“How do we get them to learn about money if they don’t have money in their hands?” Henske said. “They can make small mistakes along the way, or big mistakes with small amounts, and there are lessons in those experiences.”


Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: sarah obrien, cnbc staff
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A psychologist shares the 7 biggest parenting mistakes that destroy kids’ confidence and self-esteem

Every parent wants their kids to feel good about themselves — and with good reason. But some of those strategies can backfire, creating a vicious cycle where kids struggle to feel good about who they are. Here are the seven biggest parenting mistakes that crush kids’ confidence:1. Kids who recognize their choices in life feel more confident in their ability to create a better future for themselves. Kids who recognize their choices in life feel more confident in their ability to create a better f


Every parent wants their kids to feel good about themselves — and with good reason. But some of those strategies can backfire, creating a vicious cycle where kids struggle to feel good about who they are. Here are the seven biggest parenting mistakes that crush kids’ confidence:1. Kids who recognize their choices in life feel more confident in their ability to create a better future for themselves. Kids who recognize their choices in life feel more confident in their ability to create a better f
A psychologist shares the 7 biggest parenting mistakes that destroy kids’ confidence and self-esteem Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-06  Authors: amy morin
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A psychologist shares the 7 biggest parenting mistakes that destroy kids' confidence and self-esteem

Every parent wants their kids to feel good about themselves — and with good reason. Studies have shown that confident kids experience benefits ranging from less anxiety and improved performance in school to increased resilience and healthier relationships. As a psychotherapist and author of “13 Things Mentally Strong Parents Don’t Do,” I’ve seen many parents engage in strategies they believe will build their children’s confidence. But some of those strategies can backfire, creating a vicious cycle where kids struggle to feel good about who they are. As a result, parents may find themselves working overtime trying to boost their children’s self-esteem. Here are the seven biggest parenting mistakes that crush kids’ confidence:

1. Letting them escape responsibility

While you might think chores will weigh your kids down and add to their stress level, pitching in around the house will help them become more responsible citizens. Doing age-appropriate duties helps them feel a sense of mastery and accomplishment. So whether you tell your child to help with the laundry or take the trash out, responsibilities are opportunities for kids to see themselves as capable and competent.

2. Preventing them from making mistakes

It’s tough to watch your child fail, get rejected or mess up on something. When this happens, so many parents rush in to save kids before they fall. But preventing them from making mistakes robs them of the opportunity to learn how to bounce back. Whether your child forgets their cleats before a big soccer game or gets a few questions wrong on their math quiz, mistakes can be life’s greatest teacher. Each one is an opportunity for them to build the mental strength they need to do better next time.

3. Protecting them from their emotions

It’s tempting to cheer your kids up when they’re sad or calm them down when they’re angry. But how we react to our kids’ emotions has a big impact on the development of their emotional intelligence and self-esteem. Help your kids identify what triggers their emotions and teach them how to self-regulate. Provide them with a framework that helps explain how they feel so they’ll have an easier time dealing with those emotions in a socially appropriate way in the future.

4. Condoning a victim mentality

Saying things like “we can’t afford new shoes like the other kids because we come from a poor background” reinforces to your child that most of life’s circumstances are out of their control.

Kids who recognize their choices in life feel more confident in their ability to create a better future for themselves.

Rather than allowing your kids to host pity parties or exaggerate their misfortunes, encourage them to take positive action (e.g., setting up a lemonade stand so they can save up to buy things they want or need). Kids who recognize their choices in life feel more confident in their ability to create a better future for themselves.

5. Being overprotective

Sure, keeping your child inside a protective bubble spares you a lot of anxiety. But keeping them insulated from challenges stunts their development. View yourself as a guide, not a protector. Allow your kids to experience life, even when it’s scary to let go. You’ll give them the opportunity to gain confidence in their ability to deal with whatever life throws their way.

6. Expecting perfection

High expectations are healthy, but expecting too much has its consequences. When kids view expectations as too high, they might not even bother trying or they might feel as though they’ll never measure up. Instead, give clear expectations for the long-term and set milestones along the way. For example, going to college is a long-term expectation, so help them create short-term goals along the way (e.g., getting good grades, doing their homework, reading).

7. Punishing, rather than disciplining


Company: cnbc, Activity: cnbc, Date: 2019-09-06  Authors: amy morin
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How you think about money can impact how happy you are in life, study says

But the way you view wealth and materialism may have a significant effect on how satisfied and happy you are with your life, according to a new study published in the journal Applied Research in Quality of Life. Specifically, there’s a difference between “happiness materialism” and “success materialism,” the researchers found. Buying into “happiness materialism” — the belief that wealth is an indicator of a happy life — tends to be problematic because it takes “much time, energy and money away f


But the way you view wealth and materialism may have a significant effect on how satisfied and happy you are with your life, according to a new study published in the journal Applied Research in Quality of Life. Specifically, there’s a difference between “happiness materialism” and “success materialism,” the researchers found. Buying into “happiness materialism” — the belief that wealth is an indicator of a happy life — tends to be problematic because it takes “much time, energy and money away f
How you think about money can impact how happy you are in life, study says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-05  Authors: cory stieg
Keywords: news, cnbc, companies, researchers, life, things, peoples, money, happy, happiness, study, university, wealth, think, impact, materialism, success


How you think about money can impact how happy you are in life, study says

Most of us have heard that money can’t buy happiness. But the way you view wealth and materialism may have a significant effect on how satisfied and happy you are with your life, according to a new study published in the journal Applied Research in Quality of Life.

“[M]oney can be a tool to motivate you to achieve major milestones in your life, which can make you feel happier in the long run,” Jenny Jiao, study author and assistant professor of marketing at Binghamton University School of Management, said in a press release.

After analyzing results from a survey of over 7,500 German adults for the study, researchers at the Binghamton University School of Management found that people’s feelings about materialism tend to be nuanced. Specifically, there’s a difference between “happiness materialism” and “success materialism,” the researchers found.

Buying into “happiness materialism” — the belief that wealth is an indicator of a happy life — tends to be problematic because it takes “much time, energy and money away from other life domains that make an important and positive contribution to present life satisfaction,” such as family, work and health, the study authors wrote.

However, researchers believe focusing on “success materialism” — the idea that wealth signifies success — enhances people’s “economic motivation,” or their drive to work and improve their standard of living. Thinking about success through that lens could make individuals more satisfied with their present lives and hopeful about the future.

This simple mindset shift could make a difference in the way people view success and their lives, but of course there are other variables at play. For example, while this study didn’t cover how income specifically affects life satisfaction, researchers agree that it also impacts people’s happiness. A 2010 study out of Princeton University found that there’s a correlation between happiness and wealth, to a point of about $75,000 per year. When people make more than $75,000 a year, their happiness doesn’t increase, but the lower their income is the worse they feel, the study found.

Jiao added in the press release that, above all, it’s important to keep in mind the things that bring you happiness that don’t come with a price tag. “These include family, friends, your health, continual learning and new experiences,” she said.

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Company: cnbc, Activity: cnbc, Date: 2019-09-05  Authors: cory stieg
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The 3 things Samsung did to try to fix the issues with its Galaxy Fold

Samsung announced Thursday that its foldable phone called the Galaxy Fold will go on sale in South Korea starting Sept. 6, saying it had made key changes to the device to prevent glitches that were exposed earlier this year. At the IFA consumer electronics show in Berlin, Samsung gave CNBC a close-up look at the changes it had made to the smartphone. First, the South Korean electronics giant said it had extended a protective screen layer underneath the side bezels of the phone. Second, the compa


Samsung announced Thursday that its foldable phone called the Galaxy Fold will go on sale in South Korea starting Sept. 6, saying it had made key changes to the device to prevent glitches that were exposed earlier this year. At the IFA consumer electronics show in Berlin, Samsung gave CNBC a close-up look at the changes it had made to the smartphone. First, the South Korean electronics giant said it had extended a protective screen layer underneath the side bezels of the phone. Second, the compa
The 3 things Samsung did to try to fix the issues with its Galaxy Fold Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-05  Authors: elizabeth schulze
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The 3 things Samsung did to try to fix the issues with its Galaxy Fold

Samsung announced Thursday that its foldable phone called the Galaxy Fold will go on sale in South Korea starting Sept. 6, saying it had made key changes to the device to prevent glitches that were exposed earlier this year.

At the IFA consumer electronics show in Berlin, Samsung gave CNBC a close-up look at the changes it had made to the smartphone.

First, the South Korean electronics giant said it had extended a protective screen layer underneath the side bezels of the phone. This is to prevent the screen from looking like a film that could be removed, a problem that some bloggers encountered with review units earlier this year.

Second, the company installed what it called a protective cap on the hinges of the phone where it folds. Samsung said this would prevent debris like dirt from getting underneath the screen.


Company: cnbc, Activity: cnbc, Date: 2019-09-05  Authors: elizabeth schulze
Keywords: news, cnbc, companies, fix, prevent, underneath, earlier, try, changes, electronics, things, south, fold, protective, issues, samsung, phone, galaxy, screen


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I asked 21 self-made billionaires about their biggest regrets—here are the 5 most common ones

But throughout my journey, I learned something that I found deeply insightful: Just like the rest of us, billionaires have regrets. Not jumping on great opportunitiesWith great risks comes great rewards. At the time, Sean Parker, who was president of the company, first said the company was valued at $20 million. I recognized that I spent probably 40 years of my life not saying, ‘Oh, isn’t life great?’ ” As soon as Wilson changed his mindset, he started telling himself: “I live a great life. “


But throughout my journey, I learned something that I found deeply insightful: Just like the rest of us, billionaires have regrets. Not jumping on great opportunitiesWith great risks comes great rewards. At the time, Sean Parker, who was president of the company, first said the company was valued at $20 million. I recognized that I spent probably 40 years of my life not saying, ‘Oh, isn’t life great?’ ” As soon as Wilson changed his mindset, he started telling himself: “I live a great life. “
I asked 21 self-made billionaires about their biggest regrets—here are the 5 most common ones Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-04  Authors: rafael badziag
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I asked 21 self-made billionaires about their biggest regrets—here are the 5 most common ones

There are billions of people in the world, and only a tiny fraction of them are billionaires. What distinguishes the billionaire’s thought process from everyone else’s? What are their secrets to achieving outrageous success? What are their belief systems? What gives them the energy to pursue ambitious goals? To find the answers, I spent six years conducting face-to-face interviews with 21 self-made billionaires, and documented the principles that led them to great success in the book, “The Billion Dollar Secret.” But throughout my journey, I learned something that I found deeply insightful: Just like the rest of us, billionaires have regrets. Based on my conversations, here are some of the most common ones:

1. Not jumping on great opportunities

With great risks comes great rewards. But you’ll have a hard time reaping the rewards if you don’t take action fast. Many of the billionaires I spoke to learned this lesson the hard way. Tim Draper, a venture capitalist and billionaire, is one of them. When asked what advice he had for people who would like to be as successful as he is, he answered: “Choose a goal and go after it.” But even Draper has failed to act. He told me a story about when he first became interested in investing in Facebook. At the time, Sean Parker, who was president of the company, first said the company was valued at $20 million. But Draper got into a bidding war over the company that eventually went to a $115 million valuation. Draper ended up backing out. That’s a regret, he said, because Facebook grew in value many times over. His firm was also outbid when attempting to invest in Yahoo. “I should have just gone ahead and written the check with a note and let them convert it into whatever,” he said, of making the first offer on Yahoo. “When you spot a great opportunity, don’t hesitate.”

2. Not living in the present

Chip Wilson, founder of the athletic clothing company Lululemon, has a great mantra: Live in the present. But it took him a few years to get there. When building his first sports apparel company, Westbeach Snowboard Ltd., Wilson said he found himself struggling until he made a life-changing realization. “I was living my life in the past, in angst about things that I’d done in the past, or I was living my life in the future,” he said, adding that he was never fully appreciative of the people he was with or the things he accomplished in that moment. “It seemed to me I was always in survival mode. I was always thinking, ‘What am I going to do in the future?’ I recognized that I spent probably 40 years of my life not saying, ‘Oh, isn’t life great?’ ” As soon as Wilson changed his mindset, he started telling himself: “I live a great life. ” And that helped him move forward by thinking about how he could become a better person and create a difference in the world.

3. Not starting soon enough

Despite their success, many billionaires regret not pursuing their goals earlier in life. Peter Hargreaves is the founder of Hargreaves Lansdown, the largest financial services company in the UK. When asked what he would do differently if he could start his business all over again, he answered: “Well, I’d probably start sooner.” I received a similar answer from Naveen Jain, who started his first company, InfoSpace, when he was in his late 30s. “I wish I had done it when I was in my 20s,” he said. “I would have 20 years more experience to be doing things.” Why is that important? “Because you learn a lot more by doing it yourself than by learning from someone else,” he explained. “So if I had done it for 20 years, maybe my first company wouldn’t have been successful, and a second company wouldn’t have been successful…but a third company would have been. ” As Ron Sim, the Singaporean billionaire who built OSIM International, a maker of high-end massage chairs, told me: “There is never a right moment to start a business or have a child. But if you don’t do it, nothing will happen. So don’t wait for the right moment. The sooner you do it, the better.”

4. Not being bolder

Billionaires are also humans. They weren’t born the greatest risk-takers, defying all fears. I asked Jack Cowin, who founded Competitive Foods Australia (which operates Burger King’s Australian franchise as Hungry Jack’s), about what he would have done differently if he could go back to being 21. “I’d be bolder. I’d take more risks,” he said. “The fear of failure makes you more conscious. The fear of debt makes you more conscious. So I would have more confidence in myself that I could find my way through the maze.” However, it’s important to balance boldness with caution, he added. Otherwise, you’ll go broke. “If you make a mistake, you make a misjudgment. It’s easy to do.” In the restaurant business, “you’re never that far away from the danger of someone dying from food poisoning or from someone making a mistake regarding procedures,” he explained. “Everything requires constant diligence. It’s a risk that you live with all the time, so you’ve really got to manage it properly.”

5. Not changing fast enough

Frank Hasenfratz, founder of automobile parts manufacturer Linamar, says, “Every day, you’ve got to change. If you don’t change, you die.” Hasenfratz is well aware of the changing world and of the need to adapt to changing conditions. To illustrate his point, Hasenfratz said he once checked a Chamber of Commerce document from 1964, when he started his own business. At the time, the documented listed about 100 manufacturing plants. But now, he said, almost all of them are gone. “I’ve been here for 60 years,” he said. “And if you’re not a little bit apprehensive, if you don’t think, ‘I’ve got to do better tomorrow, I’ve got to get a different product or a more advanced product’ — if you don’t do that, you won’t be here for long.”

Mistakes and failures are necessary


Company: cnbc, Activity: cnbc, Date: 2019-09-04  Authors: rafael badziag
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5 things to know before the stock market opens Wednesday

Prime Minister Boris Johnson wants to keep the no-deal scenario on the table to strengthen his hand in last-ditch negotiations with the EU. Ramon Espinosa | APHurricane Dorian was drenching the east coast of central Florida on Wednesday, while taking aim at the Carolinas. The slow-moving storm devastated parts of the Bahamas earlier this week where at least seven people were killed. The storm is seen moving near or over the coasts of South and North Carolina on Thursday through Friday morning. E


Prime Minister Boris Johnson wants to keep the no-deal scenario on the table to strengthen his hand in last-ditch negotiations with the EU. Ramon Espinosa | APHurricane Dorian was drenching the east coast of central Florida on Wednesday, while taking aim at the Carolinas. The slow-moving storm devastated parts of the Bahamas earlier this week where at least seven people were killed. The storm is seen moving near or over the coasts of South and North Carolina on Thursday through Friday morning. E
5 things to know before the stock market opens Wednesday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-04  Authors: matthew j belvedere
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5 things to know before the stock market opens Wednesday

1. Dow to recover as bond yields move higher and key inversion goes back to normal

Traders work on the floor of the New York Stock Exchange (NYSE) on August 23, 2019 in New York City. Eduardo Munoz Alvarez | Getty Images

2. Year-end targets for S&P 500 are all over the place from down 5% to up 11%

Heading into the historically rough month of September, leading stock forecasters differ greatly on where the S&P 500 will end up by year’s end compared with predictions made the same time last year, a CNBC analysis has found. Strategists at Wall Street’s top brokerages and investment banks see a broad array of possible outcomes by the end of December with Deutsche Bank calling for an 11% rally to 3,250 and Barclays and Morgan Stanley seeing another 5% downside to 2,750.

3. Hopes build for an end to months of pro-democracy protests in Hong Kong

HONG KONG, CHINA – AUGUST 31: Protesters throw tear gas canisters back at police during an anti-government rally outside of Central Government Complex on August 31, 2019 in Hong Kong, China. Anthony Kwan | Getty Images News | Getty Images

Hong Kong stocks soared overnight, with the Hang Seng adding nearly 4%, as reports started to emerge that city leader Carrie Lam planned to formally withdraw a contentious extradition bill that’s sparked months of sometimes violent demonstrations. Early Wednesday, Lam officially abandoned the measure, satisfying one of five demands made by pro-democracy demonstrators. On Sunday, the Chinese territory saw its most violent day since the protests started in early June.

4. UK Parliament may take a no-deal Brexit off the table for PM Boris Johnson

Britain’s Prime Minister Boris Johnson SIMON DAWSON | AFP | Getty Images

The British pound was moving higher Wednesday morning, following a parliamentary vote opening the door for another Brexit delay. The move sets up another vote Wednesday on whether to block the government from proceeding with a no-deal departure from the European Union trading block on Oct. 31, if the U.K. and Brussels cannot reach agreement by that deadline. Prime Minister Boris Johnson wants to keep the no-deal scenario on the table to strengthen his hand in last-ditch negotiations with the EU.

5. Hurricane Dorian hits parts of central Florida and tracks toward the Carolinas

Volunteers walk under the wind and rain from Hurricane Dorian through a flooded road as they work to rescue families near the Causarina bridge in Freeport, Grand Bahama, Bahamas, Tuesday, Sept. 3, 2019. Ramon Espinosa | AP

Hurricane Dorian was drenching the east coast of central Florida on Wednesday, while taking aim at the Carolinas. The slow-moving storm devastated parts of the Bahamas earlier this week where at least seven people were killed. Dorian is expected to come “dangerously close” to Florida and Georgia on Wednesday night. The storm is seen moving near or over the coasts of South and North Carolina on Thursday through Friday morning. Even if Dorian does not make landfall, hurricane-force winds are still expected threaten the coastline from central Florida to North Carolina, reports NBC News.


Company: cnbc, Activity: cnbc, Date: 2019-09-04  Authors: matthew j belvedere
Keywords: news, cnbc, companies, opens, things, dorian, getty, stock, florida, end, central, nodeal, 2019, kong, market, boris, know


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The 5 things novice investors should stop doing

New investors don’t know what they don’t know. When you don’t know much about a subject, sometimes the first advice you come across appears solid. People new to investing know the stock market is a good place to invest. Waiting for the right timeNew investors know the stock market has its ups and downs, but they get tense when the stock market is rocky. “When the market goes back up, which it always does, you haven’t participated in the up — and you’ve locked in that loss.”


New investors don’t know what they don’t know. When you don’t know much about a subject, sometimes the first advice you come across appears solid. People new to investing know the stock market is a good place to invest. Waiting for the right timeNew investors know the stock market has its ups and downs, but they get tense when the stock market is rocky. “When the market goes back up, which it always does, you haven’t participated in the up — and you’ve locked in that loss.”
The 5 things novice investors should stop doing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-03  Authors: jill cornfield
Keywords: news, cnbc, companies, market, henske, goes, stock, novice, investment, investing, dont, stop, things, doing, know, investors, company


The 5 things novice investors should stop doing

New investors don’t know what they don’t know. When you don’t know much about a subject, sometimes the first advice you come across appears solid. Thoroughly research a company so you know if the stock would be a good investment for you. Don’t buy when stock prices are high. Think carefully before you make your company retirement plan investment choices. Turns out these may not be your best moves. Remember the Hippocratic Oath, says Rob Cavallaro, chief investment officer at the advisor RobustWealth, in Lambertville, New Jersey. “First, do no harm,” he said. And competing against people like Warren Buffett and the smartest hedge funds if you try to time the market is a way to come to harm. “It’s tough to win against people like that.”

damircudic | E+ | Getty Images

Young investors think they can get rich quickly, says Marcello DePascale, an accredited investment fiduciary at the Barnum Financial Group in Shelton, Connecticut. “Avoid the lottery picks, the bitcoins, the tips from friends on the next company that’s going to explode,” DePascale said. Instead, turn your attention to investing in things such as broadly based exchange-traded funds or mutual funds that align your investing with what you’re trying to achieve. Watch out for these five moves. They may be tempting, but they won’t get you where you want to go.

1. Researching the best stocks

Trying to buy individual stocks is a top mistake, says Thomas Henske, a certified financial planner with Lenox Advisors in New York. The thinking goes something like this: “OK, I’m going to research one company and become really familiar with that company, and then I’m going to buy that stock.” That approach carries a lot of risk. “If it doesn’t turn out the right way, they get turned off investing forever,” Henske said. “And if does work out, they overestimate their stock-picking abilities.” The better strategy is learning about terms like sectors, diversification or asset classes. It will be much more helpful, Henske said. The other danger: Busily researching individual stocks — whether it’s large, familiar companies, such as Disney or McDonald’s, or lesser-known firms the investor thinks will pay off in the future — can eat up valuable time someone could spend learning about investing principles that actually provide some value.

2. Thinking it over

Many investors just don’t get the power of investing over time, says Cavallaro. As the Chinese proverb says, “The best time to plant a tree was 20 years ago. The second-best time is now.” People new to investing know the stock market is a good place to invest. But they don’t understand what it takes to build wealth (patience, consistency and a few decades). Those just entering the workforce should take advantage of the 401(k) offered by their company, if there is one, Cavallaro says. Don’t spend time agonizing over which investment options to choose in your plan. Start investing as soon as you’re eligible. You can always make changes.

3. Making comparisons

It’s tempting to compare different investment choices. Someone has a CD at a bank, and they view it against the returns of the S&P 500 and how it’s performing currently. It would look pretty different, of course, if they compared it to that same stock market index in 2008, Henske says. (Just for fun, Henske recommends looking up the S&P 500 for the day you were born.) The thought process goes like this: “I don’t like how this is doing compared to that,” Henske said. “And ‘this and that’ are apples and oranges.” Perhaps someone has an international equities portfolio that is underperforming their U.S. equities portfolio. They conclude that U.S. equities are always better. “You have to be able to compare like to like, which is near impossible,” Henske said. “There’s always some difference that might be material.”

4. Waiting for the right time

New investors know the stock market has its ups and downs, but they get tense when the stock market is rocky. They may be tempted to buy when prices rise and sell when they fall. They may be tempted to check their portfolios too often. It’s time in the market, not timing the market that matters, says Brent Weiss, a CFP and co-founder of Facet Wealth in Baltimore. “Trying to time the markets is a fool’s errand,” he said. “Markets can be volatile, but they have historically trended in a positive direction,” Weiss said. The single biggest investing mistake people can make is selling when markets are low. “[Say] the market goes down 10% and you sell [your investments] and put them in cash,” Henske said. “When the market goes back up, which it always does, you haven’t participated in the up — and you’ve locked in that loss.”

5. Overlooking this opportunity


Company: cnbc, Activity: cnbc, Date: 2019-09-03  Authors: jill cornfield
Keywords: news, cnbc, companies, market, henske, goes, stock, novice, investment, investing, dont, stop, things, doing, know, investors, company


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5 things every college student should do with their money

Banks and credit unions offer specialized cards for college students who don’t have long credit histories. Prioritize credit card debt repaymentWhile building credit history is important, you also want to avoid falling into debt. For more inspiration on how to build up your emergency fund, check out these helpful tips: 6 things college students should avoid spending money on5 small moves to save big on college costs7 ways to save money in college5. Any college student can — and should — apply. D


Banks and credit unions offer specialized cards for college students who don’t have long credit histories. Prioritize credit card debt repaymentWhile building credit history is important, you also want to avoid falling into debt. For more inspiration on how to build up your emergency fund, check out these helpful tips: 6 things college students should avoid spending money on5 small moves to save big on college costs7 ways to save money in college5. Any college student can — and should — apply. D
5 things every college student should do with their money Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-28  Authors: alicia adamczyk
Keywords: news, cnbc, companies, money, card, student, payments, youre, students, debt, things, college, credit, financial


5 things every college student should do with their money

Leaving home for college is the first time that many young adults find themselves on their own — responsible for attending classes, cooking meals and managing money largely by themselves. It’s inevitable to make a few financial mistakes, even if you’re prepared. But with a little effort, you can minimize them, no matter how green you are on the subject when you head off to campus. Here are five tips for getting your finances in order while you’re in school.

1. Start making student loan payments

Technically, undergraduates often don’t need to make payments on their loans until six months after graduating or dropping below half-time status. But by making payments throughout your college years, if you’re able, you can potentially save thousands of dollars in interest, depending on the size of the loans and the interest rate. “It’ll cost less in the future once you enter repayment if you get that principal down,” Elaine Griffin Rubin, senior contributor and communications specialist at Edvisors, told CNBC. “And it will lower your monthly payments.” If you start making payments before the grace period, there are no minimum payments and no penalty for prepaying, which can help you not only lessen your debt load, but get in the habit of making payments while acclimating to a budget.

2. Build your credit history

One of the most important parts of your credit history is how long you have had access to credit. That means the sooner you get started, responsibly, the better your score will be, experts say. Banks and credit unions offer specialized cards for college students who don’t have long credit histories. Another option, if your parents or guardians are up for it, is to become an authorized user on someone else’s card. “If you’re using cards responsibly, it can be possible to build up great credit in two to four years,” John Ganotis, founder of CreditCardInsider.com, previously told CNBC Make It. “The only way to really maximize scores is time.” A higher score can help secure better credit card offers, as well as home and auto loan rates, saving you even more money in interest payments. Here are some great first-time credit card options for students.

3. Prioritize credit card debt repayment

While building credit history is important, you also want to avoid falling into debt. Over 35% of U.S. college students say they have more than $1,000 in credit card debt, according to a report published earlier this summer by EVERFI and AIG.

Twenty/20

That might not seem like a pressing issue compared to the record amount of loan debt students are taking on, but credit cards typically have higher interest rates than other types of debt. The average credit card APR is 17.71%, according to CreditCards.com, while federal student loan rates are currently less than half that. If you start accruing credit card debt in school, paying that off, in full, should be your top financial priority. That said, college students do seem to practice smart financial habits when it comes to credit cards: More than 70% say they pay their bills on time, according to Sallie Mae’s 2019 Majoring in Money report, with 60% saying that they pay off their cards in full every month.

4. Start building an emergency fund

When you leave school, you’ll want options. Moving across the country to pursue a job, going on an extended trip or taking time to find a role you’re passionate about all require capital, and a fully-funded emergency fund will help make the time after graduation easier. But with college being more expensive than ever before, it can seem like an uphill battle to save for a rainy day. Start by keeping your other expenses as low as possible. “The best way to keep your costs down while in school is one, have multiple roommates; two, drive a paid off car; and three, learn how to cook cheaply while checking out the amazing lists out there on sites like Pinterest,” Travis Hornsby, founder of Student Loan Planner, tells CNBC Make It. One of the most important factors to your bottom line? Limiting the cost of attendance as much as possible, which includes taking advantage of financial aid. For more inspiration on how to build up your emergency fund, check out these helpful tips: 6 things college students should avoid spending money on

5 small moves to save big on college costs

7 ways to save money in college

5. Fill out FAFSA for 2020

It might be 2019, but the deadline for the Free Application for Federal Student Aid for the 2020-2021 school year opens October 1, and students should apply as early as possible. FAFSA allows students to apply for financial aid from the federal government, no strings attached, for college or grad school. It must be filed each year in order for you to continue to receive federal financial support. Any college student can — and should — apply. As college finance experts put it, it’s free money. And that will help keep your loan balance down. “Regardless of your personal financial situation, you should be filing the FAFSA form every year to open doors to potential grants or loans that otherwise you would not have access to,” Amin Dabit, head of Advisory Services at Personal Capital, tells CNBC Make It. “Filing as early as possible can be an advantage as well. There is a defined pool of money that is allocated every year. If you apply late or after the deadline, you might miss out on money.” You will need your Social Security number, your income tax information (or your parents’) for 2018, investment and bank records and an FSA ID. If you’re struggling to fill out the form, Dabit suggests seeking help from your university’s financial aid office or from a financial advisor. Apply on the Department of Ed’s federal student aid website. Don’t miss: Over a third of college students already have credit card debt Like this story? Subscribe to CNBC Make It on YouTube!


Company: cnbc, Activity: cnbc, Date: 2019-08-28  Authors: alicia adamczyk
Keywords: news, cnbc, companies, money, card, student, payments, youre, students, debt, things, college, credit, financial


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