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This is the ‘best defense’ against inflation, says financial advisor
Catherine Mcqueen | Moment | Getty Images Inflation is gradually falling but remains high, meaning consumers’ budgets continue to be stressed by fast-rising prices. For some, that might mean making tough financial tradeoffs — an exercise that starts by coming to terms with the situation and making an honest assessment of your needs, said Lazetta Rainey Braxton, a certified financial planner and co-CEO of virtual planning firm 2050 Wealth Partners. “The best defense against inflation is being true to knowing your necessities and accepting the fact that [prices have] increased,” said Braxton, a member of CNBC’s Financial Advisor Council. More from Ask an Advisor Here are more FA Council perspectives…
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Who says romance is dead? Couples are using ChatGPT to write their wedding vows
CNN — When Elyse Nguyen was nearing her wedding date in February and still hadn’t started writing her vows, a friend suggested she try a new source of inspiration: ChatGPT. The AI chatbot, which was released publicly in late November, can generate compelling written responses to user prompts and offers the promise of helping people get over writer’s block, whether it be for an essay, an email, or an emotional speech. “At first we inputted the prompt as a joke and the output was pretty cheesy with personal references to me and my husband,” said Nguyen, a financial analyst at Qualcomm. “But the essence of what vows should incorporate was…
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IMF: Banking crisis boosts risks and dims outlook for world economy
London CNN — At the start of the year, economists and corporate leaders expressed optimism that global economic growth might not slow down as much as they had feared. Positive developments included China’s reopening, signs of resilience in Europe and falling energy prices. But a crisis in the banking sector that emerged last month has changed the calculus. The International Monetary Fund downgraded its forecasts for the global economy Tuesday, noting “the recent increase in financial market volatility.” The IMF now expects economic growth to slow from 3.4{9f99fe44fce1aa3c813d0a0ce4da2fbea8a5a58e9d85c4a2927dd8140cb676b5} in 2022 to 2.8{9f99fe44fce1aa3c813d0a0ce4da2fbea8a5a58e9d85c4a2927dd8140cb676b5} in 2023. Its estimate in January had been for 2.9{9f99fe44fce1aa3c813d0a0ce4da2fbea8a5a58e9d85c4a2927dd8140cb676b5} growth this year. “Uncertainty is high, and the…
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Silicon Valley Bank: An essential (and existential) lesson in startup finance
It’s been a month since the Silicon Valley Bank (SVB) collapse threatened the financial future of almost half the venture-backed startups in the United States. A lifetime of lessons in financial management has been crammed into those intervening weeks. I’ve lent an ear to more than a dozen founders in the past month, who shared horror stories of missed payrolls, emergency board meetings and blocks-long lines to apply for accounts at other banks. I’ve smiled at revelations about emergency relief funds for climate tech firms assembled in hours, such as the one pulled together by financing company Enduring Planet with backing from philanthropic organizations such as Prime Coalition, which supports…
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‘How to Blow Up a Pipeline’ Director on Getting It Made
The director of How to Blow Up a Pipeline couldn’t “book a single pitch meeting” to get it made. So he and his crew took matters into their own hands. Photo: NEON How to Blow Up a Pipeline turns a manifesto into a thriller. The film, now in theaters, is based on a book by Swedish climate activist Andreas Malm. In it, the author asserts that climate change poses an existential threat to every human being on Earth. Global governments have proven through their inaction that they will not meaningfully address this crisis. Therefore, forcing change and ensuring the survival of our species through disruption of the fossil-fuel economy is…
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Money stress? Check your financial literacy.
Comment on this storyComment You are reading our weekly Well+Being newsletter. Sign up here to get it delivered to your inbox every Thursday. Few topics are as stressful as money, and there’s nothing like tax season to amplify financial anxiety. The problem with money stress is that it creates a negative cycle. Research suggests that people who are anxious about money are less likely to plan for retirement, which in turn can increase anxiety about their financial future. About 41 percent of U.S. adults reported feeling both anxiety and stress when thinking about or discussing their personal finances, according to data from the 2018 Finra National Financial Capability Study. The…
/cloudfront-us-east-2.images.arcpublishing.com/reuters/KSSQ4S2INBOHRDBWM7UGH5KYBQ.jpg "New BOJ chief’s message to world: We’re staying the course – for now")
/cloudfront-us-east-2.images.arcpublishing.com/reuters/6O3JBKVMMFI6PIO23LMLGA466M.jpg "Exclusive: Goldman Sachs to cut asset management investments that weighed on earnings")
