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
I’ve been in finance for 30 years—and this is how I teach my kids about money Cached Page below :
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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Watch: Donald Trump parties in 1992 with now-accused child sex trafficker Jeffrey Epstein, pats woman’s rear end

President Donald Trump sure looked like he was a fan of Jeffrey Epstein in 1992. A newly surfaced video reveals Trump happily partying in November of that year at his Mar-a-Lago estate in Florida with Epstein, a wealthy financier who since then has become both a registered sex offender and an accused child sex trafficker. The video, from NBC’s archives, also shows Trump matter-of-factly grabbing from behind the waist of a young woman, pulling her back into him — and then casually tapping her bot


President Donald Trump sure looked like he was a fan of Jeffrey Epstein in 1992. A newly surfaced video reveals Trump happily partying in November of that year at his Mar-a-Lago estate in Florida with Epstein, a wealthy financier who since then has become both a registered sex offender and an accused child sex trafficker. The video, from NBC’s archives, also shows Trump matter-of-factly grabbing from behind the waist of a young woman, pulling her back into him — and then casually tapping her bot
Watch: Donald Trump parties in 1992 with now-accused child sex trafficker Jeffrey Epstein, pats woman’s rear end Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: dan mangan
Keywords: news, cnbc, companies, video, epstein, jeffrey, newly, parties, woman, nowaccused, wife, young, estate, womenand, sex, pats, trump, trafficker, rear, watch, womans


Watch: Donald Trump parties in 1992 with now-accused child sex trafficker Jeffrey Epstein, pats woman's rear end

President Donald Trump sure looked like he was a fan of Jeffrey Epstein in 1992.

A newly surfaced video reveals Trump happily partying in November of that year at his Mar-a-Lago estate in Florida with Epstein, a wealthy financier who since then has become both a registered sex offender and an accused child sex trafficker.

The video, from NBC’s archives, also shows Trump matter-of-factly grabbing from behind the waist of a young woman, pulling her back into him — and then casually tapping her bottom with his right hand.

Elsewhere on the same video, Trump beams as he is surrounded by and dances with other young women.

And when he stands with Epstein checking out the dance floor of the shindig at the Palm Beach estate, Trump is seen gesturing toward a woman and appears to say to Epstein: “Look at her, back there … she’s hot.”

Epstein smiles and nods in response, the tape shows.

At the time, the real estate developer and casino owner Trump was newly divorced from his first wife, Ivanka, and a year away from wedding his second wife, Marla Maples.


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: dan mangan
Keywords: news, cnbc, companies, video, epstein, jeffrey, newly, parties, woman, nowaccused, wife, young, estate, womenand, sex, pats, trump, trafficker, rear, watch, womans


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When former president Jimmy Carter left office, his peanut business was $1 million in debt

When President Jimmy Carter left the White House in 1981, he was 56 years old and deep in debt. His peanut business, which sold certified seed peanuts and other farm supplies, was $1 million in the red by the time he finished his term, The Washington Post reports. When he left office in debt, “we thought we were going to lose everything,” Carter’s wife Rosalynn told the Post. Forced to sell the company, Carter started writing books to generate income. In 2017, Carter got more than $230,000 in su


When President Jimmy Carter left the White House in 1981, he was 56 years old and deep in debt. His peanut business, which sold certified seed peanuts and other farm supplies, was $1 million in the red by the time he finished his term, The Washington Post reports. When he left office in debt, “we thought we were going to lose everything,” Carter’s wife Rosalynn told the Post. Forced to sell the company, Carter started writing books to generate income. In 2017, Carter got more than $230,000 in su
When former president Jimmy Carter left office, his peanut business was $1 million in debt Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: kathleen elkins
Keywords: news, cnbc, companies, president, peanut, debt, reports, wife, jimmy, office, million, writing, white, left, carter, farm, business


When former president Jimmy Carter left office, his peanut business was $1 million in debt

When President Jimmy Carter left the White House in 1981, he was 56 years old and deep in debt.

His peanut business, which sold certified seed peanuts and other farm supplies, was $1 million in the red by the time he finished his term, The Washington Post reports. Carter had been managing the family-owned peanut farm, warehouse and store in Plains, Georgia, since his dad died in 1953, but when he became president, he put it into a blind trust to avoid conflicts of interest.

When he left office in debt, “we thought we were going to lose everything,” Carter’s wife Rosalynn told the Post.

Forced to sell the company, Carter started writing books to generate income. Today, the 94-year-old has published more than 30, from a children’s book to reflections on his presidency.

As a former president, he also receives an annual pension of about $210,000 and an allowance for things like travel, office space and other expenses. In 2017, Carter got more than $230,000 in such allowances, the National Taxpayers Union Foundation reports.


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: kathleen elkins
Keywords: news, cnbc, companies, president, peanut, debt, reports, wife, jimmy, office, million, writing, white, left, carter, farm, business


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Billionaire James Dyson reportedly buys $54 million penthouse in Singapore

The Wallich Residence is located within the Tanjong Pagar Centre (second from right), Singapore’s tallest building. British technology firm founder James Dyson and his wife have bought a luxury penthouse in Singapore for a record 73.8 million Singapore dollars ($54.2 million), according to The Business Times newspaper on Wednesday. The privately held company Dyson founded is known for selling $400 hair dryers and sleekly designed vacuum cleaners. The Business Times did not specify its sources, b


The Wallich Residence is located within the Tanjong Pagar Centre (second from right), Singapore’s tallest building. British technology firm founder James Dyson and his wife have bought a luxury penthouse in Singapore for a record 73.8 million Singapore dollars ($54.2 million), according to The Business Times newspaper on Wednesday. The privately held company Dyson founded is known for selling $400 hair dryers and sleekly designed vacuum cleaners. The Business Times did not specify its sources, b
Billionaire James Dyson reportedly buys $54 million penthouse in Singapore Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: huileng tan
Keywords: news, cnbc, companies, 54, james, wife, reportedly, million, singapore, dyson, wednesdaythe, buys, newspaper, business, penthouse, billionaire, records, times, wire


Billionaire James Dyson reportedly buys $54 million penthouse in Singapore

The Wallich Residence is located within the Tanjong Pagar Centre (second from right), Singapore’s tallest building.

British technology firm founder James Dyson and his wife have bought a luxury penthouse in Singapore for a record 73.8 million Singapore dollars ($54.2 million), according to The Business Times newspaper on Wednesday.

The privately held company Dyson founded is known for selling $400 hair dryers and sleekly designed vacuum cleaners.

The Business Times did not specify its sources, but local newspaper The Straits Times said it had reviewed documents revealing the purchase.

Official title records seen by Reuters show billionaire Dyson and his wife became tenants of the 99-year leasehold property on June 20. The records did not state the price paid, the wire said.


Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: huileng tan
Keywords: news, cnbc, companies, 54, james, wife, reportedly, million, singapore, dyson, wednesdaythe, buys, newspaper, business, penthouse, billionaire, records, times, wire


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Stocks making the biggest moves after hours: Levi, T-Mobile, Facebook

Biden made more than $15 million in two years after leaving the…Joe Biden and his wife Jill took in more than $15 million in the two years after the former vice president left the Obama administration, according to tax returns released by… Politicsread more


Biden made more than $15 million in two years after leaving the…Joe Biden and his wife Jill took in more than $15 million in the two years after the former vice president left the Obama administration, according to tax returns released by… Politicsread more
Stocks making the biggest moves after hours: Levi, T-Mobile, Facebook Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-09  Authors: mallika mitra, salvador rodriguez
Keywords: news, cnbc, companies, million, hours, thejoe, took, returns, wife, tax, tmobile, released, making, stocks, moves, levi, biden, biggest, vice, 15, facebook


Stocks making the biggest moves after hours: Levi, T-Mobile, Facebook

Biden made more than $15 million in two years after leaving the…

Joe Biden and his wife Jill took in more than $15 million in the two years after the former vice president left the Obama administration, according to tax returns released by…

Politics

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Company: cnbc, Activity: cnbc, Date: 2019-07-09  Authors: mallika mitra, salvador rodriguez
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Carlos Ghosn’s wife recalls ‘horrific’ day of husband’s second arrest, accuses Nissan of ‘conspiracy’ and Japan of cruel and inhumane treatment

It was her husband’s second arrest accusing him of committing financial crimes while serving as Nissan’s CEO. “It’s devastating to think he’s being treated like, you know, a big criminal over an accusation that we still don’t understand what it is,” she said. “I think he’s devastated that a company that he loved and he worked so hard for could do this to him,” she said. Carole Ghosn also accused Nissan of orchestrating a conspiracy to avoid a merger with French automaker Renault. “A few people w


It was her husband’s second arrest accusing him of committing financial crimes while serving as Nissan’s CEO. “It’s devastating to think he’s being treated like, you know, a big criminal over an accusation that we still don’t understand what it is,” she said. “I think he’s devastated that a company that he loved and he worked so hard for could do this to him,” she said. Carole Ghosn also accused Nissan of orchestrating a conspiracy to avoid a merger with French automaker Renault. “A few people w
Carlos Ghosn’s wife recalls ‘horrific’ day of husband’s second arrest, accuses Nissan of ‘conspiracy’ and Japan of cruel and inhumane treatment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-04  Authors: emma newburger
Keywords: news, cnbc, companies, japan, nissan, think, japanese, husbands, inhumane, second, merger, ghosns, woman, wife, way, trial, hes, horrific, treatment, ghosn, recalls, husband


Carlos Ghosn's wife recalls 'horrific' day of husband's second arrest, accuses Nissan of 'conspiracy' and Japan of cruel and inhumane treatment

The last time Carole Ghosn saw her husband, former Nissan Chairman Carlos Ghosn, a team of 20 Japanese prosecutors stormed the couple’s apartment in Tokyo at 5:50 a.m. and hauled him away.

“They checked everything. They took pictures of everything,” she said in an exclusive interview with Sara Eisen that aired Wednesday on CNBC’s “Closing Bell. ”

She wasn’t even allowed to use the restroom alone, she said of the April arrest.

“They made this woman go into the bathroom with me to watch me,” she said, adding that the woman even entered the shower with her. “She even handed me the towel.”

“I think they wanted to humiliate us … to intimidate and humiliate us,” she said.

It was her husband’s second arrest accusing him of committing financial crimes while serving as Nissan’s CEO. He’s denied all accusations. Carole Ghosn said her husband, who’s spent at least 130 days in detention in a Japanese prison since November, was interrogated for eight hours every day without a lawyer.

Carole Ghosn is complaining publicly about what she characterized as “inhumane and cruel” treatment of the couple ahead of Japan’s first G-20 summit, which is being held in Osaka at the end of the month.

Carlos Ghosn was first arrested last November in Tokyo, facing allegations that he diverted Nissan funds to a Saudi businessman and friend, underreported his compensation, and engaged in a breach of trust tied to personal trading losses.

Ghosn stepped down as CEO of the Japanese carmaker in 2017. His trial on financial misconduct charges was expected to begin in September, but will be delayed.

Carole Ghosn said she’s hoping foreign leaders pressure Japanese officials to ensure her husband gets a fair trial. She also has been prohibited from seeing him while he’s in prison and said he was subjected to “emotional and mental abuse” in the Japanese detention center. Officers left the lights on all day and night, she said, adding that his cell was damp and cold without heat in the winter. She also said her husband was only allowed fresh air for 30 minutes Monday through Friday.

“It’s devastating to think he’s being treated like, you know, a big criminal over an accusation that we still don’t understand what it is,” she said.

Ghosn cannot leave Japan under the terms of his bail, which is set at 1 billion yen, or $9 million. The Japanese Ministry of Justice did not immediately respond to a request for comment.

“I think he’s devastated that a company that he loved and he worked so hard for could do this to him,” she said.

Carole Ghosn also accused Nissan of orchestrating a conspiracy to avoid a merger with French automaker Renault.

“We know it’s a conspiracy. Nissan did not want this merger,” she said.

“A few people within Nissan decided to get rid of my husband, that was the easiest way not to do the merger,” she said. “There was maybe a more civilized way of doing it.”


Company: cnbc, Activity: cnbc, Date: 2019-06-04  Authors: emma newburger
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My wife and I have been married 50 years, and we’ve never had a single fight about money—here’s our secret

My wife and I got married in 1968, and in the 50-plus years we’ve been together, we’ve never had a single fight about money. But the way I see it, differences over money should never come as a surprise when you’re married. As anyone who’s been married for several decades can tell you, financial compatibility is an essential element to any successful marriage. I’m 75 and my wife is 79, and we’ve maintained a peaceful marriage — thanks in large part to our shared views on saving and spending. If t


My wife and I got married in 1968, and in the 50-plus years we’ve been together, we’ve never had a single fight about money. But the way I see it, differences over money should never come as a surprise when you’re married. As anyone who’s been married for several decades can tell you, financial compatibility is an essential element to any successful marriage. I’m 75 and my wife is 79, and we’ve maintained a peaceful marriage — thanks in large part to our shared views on saving and spending. If t
My wife and I have been married 50 years, and we’ve never had a single fight about money—here’s our secret Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-25  Authors: dick quinn
Keywords: news, cnbc, companies, secret, wife, benefits, married, fight, money, financial, 50, marriage, weve, way, relationship, pay, moneyheres, single


My wife and I have been married 50 years, and we've never had a single fight about money—here's our secret

My wife and I got married in 1968, and in the 50-plus years we’ve been together, we’ve never had a single fight about money. There were deliberations, but never any fights. I get asked all the time: “How do you do it?” The secret, I tell them, can be summed up in three words: It’s our money.

I realize this isn’t the case for most couples. But having spent my entire career in employee benefits, finance and retirement counseling, I’ve witnessed a handful of misguided ideas about marriage and money.

In the early 60s, less than 25% of married women were employed, which led men to believe that any overtime pay they earned belonged solely to them. It was rare for couples to discuss their conflicting attitudes toward money — and if they did, they often found themselves caught in an antagonistic gridlock.

That sort of attitude led to a lot of tension in marriages — and it’s still prevalent today. In fact, arguments about money are still one of the top predictors for divorce. But the way I see it, differences over money should never come as a surprise when you’re married.

As anyone who’s been married for several decades can tell you, financial compatibility is an essential element to any successful marriage. One miser and one spendthrift will have a tough time agreeing. That doesn’t necessarily mean the relationship is doomed, it just means a serious conversation about financial goals and values must take place immediately. Having financial peace in a relationship is a matter of mutual respect and responsibility. The objective is to work on having a similar money mindset moving forward.

I’m 75 and my wife is 79, and we’ve maintained a peaceful marriage — thanks in large part to our shared views on saving and spending. She knows as well as I do where we stand financially. Any money that comes in is considered as our money, regardless of who brought it in, and we manage it together.

I retired in 2010 as vice president of compensation and benefits for a Fortune 500 company. My wife (also retired) and I live off my pension and our Social Security benefits, but our money philosophy has remained the same. We have several joint checking and savings accounts. Once money goes into an account, it’s apportioned among many others. For example, we have an account designated for travel, and another for fixed monthly bills, which includes utilities, taxes and HOA fees. Our checking accounts are mainly used to pay credit card bills.

This compartmentalized approach is our way of budgeting. But here’s the thing, we also know that neither of us is going to spend more we can afford. If there’s something significant that we need or want, we’ll wait until we’ve saved enough to pay in cash.

Many financial experts will advise against joint accounts. Call me old-fashioned, but I wholeheartedly disagree. In my opinion, insisting on a strict division between the money that each party earns is a sign of not being fully committed to the union.

If both parties are constantly questioning each other’s financial decisions, it’s unlikely that the relationship will last. I can understand a working person wanting a sense of ownership to some degree, but a marriage should be built on complete trust. Insisting on “your money” and “my money” violates that commitment. (Besides, there will be plenty of time for divisions in the divorce process.)

My wife and I don’t consider ourselves wealthy. We’re financially secure because we made sure our goals and values aligned before entering the dominion of marital bliss. That said, it does take a lot of hard work. We have four children who all went to private colleges. They worked campus and summer jobs to pay off their loans. My wife and I remortgaged our house (twice) and even started a part-time business to cover the remaining costs. That meant working 16 hours a day between two jobs.

My point is, if you sort out your differences early on and agree to say “it’s our money,” you’ll live happily ever after or hold hands in bankruptcy court. Either way, you’ll be in it together. But if your money differences are extreme, proceed at your own peril. Based on what I’ve seen, major changes by either party are unlikely.

Keep in mind that this advice is coming from someone who’s been married for more than 50 years, so unless your relationship is intended to be permanent, the “mine is mine” approach may be better.

Dick Quinn is a financial blogger and MarketWatch contributor. Before retiring in 2010, Dick was a compensation and benefits executive at an S&P 500 Company. His previous blogs include Healthy Change, Saving Ourselves and Required Irritation. Follow him on Twitter .

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Company: cnbc, Activity: cnbc, Date: 2019-05-25  Authors: dick quinn
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Meghan Markle and Prince Harry welcome baby boy, the couple’s first child

The former Meghan Markle, the Duchess of Sussex, gave birth to a baby boy on Monday — her first child with Prince Harry. The child will be seventh in line to the throne, following Prince Charles, Prince William, Prince George, Princess Charlotte, Prince Louis and Prince Harry. Last month, Kensington Palace said that the birth would be revealed only once Harry and Meghan had the opportunity to celebrate privately. Unlike Harry’s brother, Prince William, they didn’t share where the baby would be b


The former Meghan Markle, the Duchess of Sussex, gave birth to a baby boy on Monday — her first child with Prince Harry. The child will be seventh in line to the throne, following Prince Charles, Prince William, Prince George, Princess Charlotte, Prince Louis and Prince Harry. Last month, Kensington Palace said that the birth would be revealed only once Harry and Meghan had the opportunity to celebrate privately. Unlike Harry’s brother, Prince William, they didn’t share where the baby would be b
Meghan Markle and Prince Harry welcome baby boy, the couple’s first child Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-06  Authors: rachel elbaum, janelle griffith, sarah whitten
Keywords: news, cnbc, companies, baby, meghan, welcome, child, wife, prince, birth, palace, markle, couples, william, harry, royal, duchess, boy


Meghan Markle and Prince Harry welcome baby boy, the couple's first child

The former Meghan Markle, the Duchess of Sussex, gave birth to a baby boy on Monday — her first child with Prince Harry.

The duchess went into labor early Monday morning with Harry at her side, the palace announced on Monday afternoon local time.

Harry was with his wife when she gave birth at 5:26 a.m. local time. The baby weighed 7 pounds, 3 ounces. Meghan’s mother, Doria Ragland, is with the couple at their home, Frogmore Cottage, the palace said in the birth announcement.

“It was amazing,” said a beaming Harry in an impromptu press conference. “As every father and parent will ever say your baby is absolutely amazing… I’m just over the moon.”

The child will be seventh in line to the throne, following Prince Charles, Prince William, Prince George, Princess Charlotte, Prince Louis and Prince Harry.

The baby is Queen Elizabeth II’s eighth great-grandchild.

They are still deciding on a name for the newborn, Harry said, adding that they would introduce the baby to the world in two days.

“I’m so incredibly proud of my wife,” he said.

Prior to the birth, few details of the couple’s plans were released. Last month, Kensington Palace said that the birth would be revealed only once Harry and Meghan had the opportunity to celebrate privately. Unlike Harry’s brother, Prince William, they didn’t share where the baby would be born.

Harry and the former “Suits” actress married last year in a chapel on the grounds of Windsor Castle, about 20 miles west of central London. The celebration saw movie stars mingling with royalty.

Prior to Meghan’s pregnancy, Harry made no secret of wanting to start a family. In an interview with the BBC in November 2017, Harry was asked if he and Meghan had talked about having children.

“Of course, one step at a time and hopefully we’ll start a family in the near future,” he responded.

The palace announced Meghan’s pregnancy in October at the start of a 16-day tour of the South Pacific and Australia.

The duchess has attended royal engagements throughout her pregnancy, including a trip to Morocco where she and Harry visited a program promoting education for girls as well as programs for young people with mental health challenges.

In early March, the palace announced that Harry and Meghan would create their own household, complete with their own communications staff based at Buckingham Palace. The move means that their operations would be separate from those they had shared with Prince William and his wife Kate, the Duchess of Cambridge.

Since joining the royal family, Meghan has been an outspoken advocate for women’s rights and education. On International Women’s Day on March 8, she talked about her husband’s feminism and said she hoped her child would be too.

“Boy or girl, whatever it is, we hope that that’s the case,” she said.

In keeping with royal tradition, the baby’s exact due date remained a secret, with both the palace and the royal couple saying only that Meghan was due in the spring.


Company: cnbc, Activity: cnbc, Date: 2019-05-06  Authors: rachel elbaum, janelle griffith, sarah whitten
Keywords: news, cnbc, companies, baby, meghan, welcome, child, wife, prince, birth, palace, markle, couples, william, harry, royal, duchess, boy


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Why I’m cashing out of San Francisco’s tech IPO boom and retiring to Hawaii at 42

My wife and I moved to San Francisco in 2001, and after 18 years, we finally decided we’ve had enough. San Francisco has its perks, but once we became parents in 2017, our outlook started to fade. After Uber’s IPO, we believe it’ll be the biggest catalyst for an uptick in San Francisco real estate demand given its estimated $100 billion market capitalization. Real estate arbitrage to the rescueCap rates in San Francisco are roughly 3% to 3.5%. Although $3,500 a month sounds like a lot, it’s stil


My wife and I moved to San Francisco in 2001, and after 18 years, we finally decided we’ve had enough. San Francisco has its perks, but once we became parents in 2017, our outlook started to fade. After Uber’s IPO, we believe it’ll be the biggest catalyst for an uptick in San Francisco real estate demand given its estimated $100 billion market capitalization. Real estate arbitrage to the rescueCap rates in San Francisco are roughly 3% to 3.5%. Although $3,500 a month sounds like a lot, it’s stil
Why I’m cashing out of San Francisco’s tech IPO boom and retiring to Hawaii at 42 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-03  Authors: sam dogen
Keywords: news, cnbc, companies, property, estate, im, cashing, 42, real, wife, boom, retiring, hawaii, franciscos, sell, tech, techies, income, francisco, ipo, san


Why I'm cashing out of San Francisco's tech IPO boom and retiring to Hawaii at 42

My wife and I moved to San Francisco in 2001, and after 18 years, we finally decided we’ve had enough. Our plan now is to cash out of the tech IPO boom and move to Hawaii to semi-retire in our early 40s. San Francisco has its perks, but once we became parents in 2017, our outlook started to fade. For starters, San Francisco has the lowest percentage of kids in the U.S., which means fewer family-friendly places, fewer first-time parents to interact with and fewer kids for our son to play with. The public school system starting in kindergarten is based on a lottery system, so even if you pay property taxes, your child is not guaranteed a spot in your neighborhood schools. Most parents are forced to pay big bucks to send their kids to private school, but even paying $30,000 or more doesn’t guarantee your child admission into the top-rated private schools. We feel a tremendous burden to keep working so we can earn higher salaries only to keep up with the city’s rising costs. That said, the only way to break free from this trap is to sell during the tech IPO boom.

Our priority is to reduce our ownership burden in California by as much as possible. While my wife and I aren’t “techies,” we do own several assets that techies may want to buy. A two-bedroom, two-bathroom park view condo in Pacific Heights: In 2003, at 26, I purchased my first property for $580,500. To come up with the down payment, I had saved 50% of my salary and 100% of my bonus each year from ages 22 to 26. My base ranged from $40,000 to $80,000 during this time period.

A four-bedroom, three-bathroom home in the Marina District: In 2005, my girlfriend and I rented out our Pacific Heights property and bought a single family home for $1.5 million. It took everything I had to come up with the $304,000 down payment and closing costs. I actually had to get a bridge loan from my grandfather for two months because the house was for sale in December, and I wasn’t going to get paid my bonus until February.

A two-bedroom, two-bathroom vacation home in Lake Tahoe: In 2007, we purchased a Squaw Valley vacation property for $715,000. I thought I was getting a good deal because the seller had purchased it for $820,000 a year prior. Unfortunately, over the next several years, the property lost half its value due to the housing crisis. Our goal is to sell the properties during the tech IPO boom. So far, Lyft, Pinterest and Zoom have all successfully gone public. After Uber’s IPO, we believe it’ll be the biggest catalyst for an uptick in San Francisco real estate demand given its estimated $100 billion market capitalization.

While my wife and I aren’t ‘techies,’ we do own several assets that techies may want to buy.

If we’re able to sell to one of the newly minted tech millionaires once their six-month lockup period is over, we would reinvest the proceeds into various passive income investments such as dividend stocks, short-term treasury bonds, venture debt and private equity.

Real estate arbitrage to the rescue

Cap rates in San Francisco are roughly 3% to 3.5%. Owning investment property in San Francisco is mostly about capital appreciation, not income generation. One could easily earn a risk-free 2.5% per year by investing in three-month treasury bonds today. Here’s our strategy: Sell our Lake Tahoe (estimated value: $450,000) and Pacific Heights (estimated value: $1,300,000) properties. After paying fees and taxes, we should have about $1,500,000 in net proceeds to reinvest.

Reinvest 50% of the proceeds in AA-rated Hawaii municipal bonds once we move there. This will generate a tax-free yield of $22,500 (or 3%) per year in tax-free income.

Invest the other $750,000 in real estate crowdfunding and and public REITs to take advantage of much lower valuations and much higher cap rates in the heartland of America. The heartland is seeing an influx of residents from expensive coastal city residents who realize they no longer need to be stuck paying $4,500 per month for rent or $1,500,000 for a median-priced home. With a target 10% annual return due to much higher cap rates in heartland real estate, I expect the $750,000 invested in real estate crowdfunding to generate roughly $75,000 a year in gross income. In other words, instead of generating only $50,000 a year in gross income a year from my existing San Francisco and Lake Tahoe properties, I could generate an equivalent of roughly $105,000 a year in gross income from the combination of municipal bonds and real estate crowdfunding. A 6% blended return on the gross capital base with no maintenance or tenant issues sounds much better to me. As of now, our retirement income currently stands as follows. By selling one or two of our rental properties, we hope to simplify life and boost our retirement income further.

Honolulu over San Francisco

My goal is to retire sometime this year, right after I hit my 42nd birthday. My parents, currently living in Honolulu, are in their 70s. If we don’t move now, I know I’ll regret not spending more time with them later on. When we move to Honolulu, I plan to continue running Financial Samurai, the personal finance site I started in 2009. My wife and I will also be working on the third edition of our severance negotiation book, “How To Engineer Your Layoff: Make a Small Fortune by Saying Goodbye.”

Although $3,500 a month sounds like a lot, it’s still $2,000 (or 40%) less than what we spend on housing here in San Francisco.


Company: cnbc, Activity: cnbc, Date: 2019-05-03  Authors: sam dogen
Keywords: news, cnbc, companies, property, estate, im, cashing, 42, real, wife, boom, retiring, hawaii, franciscos, sell, tech, techies, income, francisco, ipo, san


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Here’s how much cash Warren Buffett carries in his wallet

So how much cash does the frugal billionaire have in his wallet? “My wife likes to use cash, so I just take home a chunk of cash every now and then and she doles it out,” said Buffett of wife Astrid Menks. But he does have at least one credit card: “I’ve got an American Express card which I got in 1964,” Buffett said. Buffett’s tendency to use cash puts him in the minority among Americans — in 2018, only 18% made “all or almost all of their purchases” with cash, according to the PEW Research Cen


So how much cash does the frugal billionaire have in his wallet? “My wife likes to use cash, so I just take home a chunk of cash every now and then and she doles it out,” said Buffett of wife Astrid Menks. But he does have at least one credit card: “I’ve got an American Express card which I got in 1964,” Buffett said. Buffett’s tendency to use cash puts him in the minority among Americans — in 2018, only 18% made “all or almost all of their purchases” with cash, according to the PEW Research Cen
Here’s how much cash Warren Buffett carries in his wallet Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: catherine clifford
Keywords: news, cnbc, companies, heres, purchases, card, wallet, wife, warren, buffett, way, cash, express, does, carries, money, according


Here's how much cash Warren Buffett carries in his wallet

Warren Buffett, who is worth nearly $89 billion according to Forbes, is famous for spending only $3 a day on breakfast.

So how much cash does the frugal billionaire have in his wallet?

“I probably carry maybe $400,” Buffett told Yahoo Finance editor in chief Andy Serwer in an interview published Monday.

“My wife likes to use cash, so I just take home a chunk of cash every now and then and she doles it out,” said Buffett of wife Astrid Menks.

“She looks at my billfold and sees whether all the 100s are gone,” Buffett said.

Buffett said he uses cash “98% of the time. If I’m in a restaurant, I’ll always pay cash. It’s just easier.”

But he does have at least one credit card: “I’ve got an American Express card which I got in 1964,” Buffett said. (Buffett’s holding company, Berkshire Hathaway, owned 17.9% of American Express at the end of 2018, according to its year-end financial report.)

Buffett’s tendency to use cash puts him in the minority among Americans — in 2018, only 18% made “all or almost all of their purchases” with cash, according to the PEW Research Center. About half (52%) of Americans made “some” of their purchases with cash and 29% made none of their purchases with cash.

Using cash, however, can actually be a good way to save money. Paying with cash can be used as a negotiation tool, according to Mark Cuban. And researchers have found that physically handing over money feels painful, making you less likely to do it, CNBC Make It previously reported.

See also:

Warren Buffett: This is the best way to put cash in the pockets of people who need it

Warren Buffett: This is how to be successful

Happiness expert: These are the 3 components of lasting happiness (and the mistakes people make)


Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: catherine clifford
Keywords: news, cnbc, companies, heres, purchases, card, wallet, wife, warren, buffett, way, cash, express, does, carries, money, according


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