Markus Andrews

Retirement savers should ask questions of professionals who help them make critical financial decisions.
Knowing the benefits financial professionals may receive can be essential in helping you figure out whose investment advice you should trust and follow.
Fee-only advisors don’t receive commissions for products. They may receive a percentage of assets managed, a flat fee or hourly payment.

When employees who contribute to a 401(k) plan leave a company, they have options for what to do with that money. 
Depending on what the employer retirement savings plan allows, exiting employees may be able to keep the money in the current plan, roll it over into an IRA, or buy an annuity. In some cases, employers can force out small accounts.

The guidance investors receive from a financial professional or firm about handling old 401(k)s has been exempt from investment advice rules. And, there are different standards for financial advice. Being a “fiduciary” is the highest standard, meaning the advice must be in the client’s best interest. 
The Biden administration wants investment advice given when making these decisions to come from a fiduciary — and the Department of Labor has proposed rules to make that happen. 
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Some in the financial industry have pushed back against the Labor Department’s proposed rule, saying it would create a regulatory burden that would shut out millions of Americans from receiving guidance from financial professionals compensated by commission-based sales. They also argue that existing laws have been established to safeguard consumers seeking financial advice. 
Some lawmakers share those concerns. “We would be left with two classes of investors: those who can afford investment advice and those who cannot,” said Rep. Ann Wagner, R-Mo., chair of the Financial Services Subcommittee on Capital Markets, which recently held a hearing on the new rule. 

Rep. Ann Wagner, R-Mo., chairs a hearing of the House Subcommittee on Capital Markets about the Department of Labor’s proposed fiduciary rule.
Source: House Committee Video

Others contend that consumers who reach out to a financial professional for a one-time event such as a rollover may not get advice in their best interest.  
“I met recently with a woman whose former financial professional recommended that she use her modest retirement nest egg to buy an insurance product that wasn’t right for her,” certified financial planner Kamila Elliott told the subcommittee at a hearing Wednesday. Elliott, the CEO of Collective Wealth Partners in Atlanta, is a member of the CNBC FA Council.
“Had she invested in a diversified portfolio and a qualified retirement plan, she would now have tens of thousands of dollars more in accumulated retirement assets,” Elliott said.
As the debate continues, experts say retirement savers should keep asking questions of professionals who help them make critical financial decisions, like what to do with money in a 401(k) or 403(b) account after leaving an employer. Here are some tips:

Review investment options and fees

To protect your nest egg, reviewing and understanding your options is essential. Sometimes brokers from the plan administrators don’t consider if you are married or other assets you can access in retirement when making recommendations. 
Find out what fees will be incurred for your investment choices, such as rolling over 401(k) money into an IRA or buying an annuity. Investment funds in 401(k) plans can be less costly than their IRA counterparts.
For many people, staying in their former employer’s plan may be a good option.
“Larger companies take the 401(k) plan very seriously, and are looking to work with professional institutional investment consultants to vet the investments that are placed into that plan, setting up access to generally low-cost investment options,” said Christopher Lazzaro, founder and president of Plan For It Financial, a fee-only, advice-only financial planner in Swampscott, Massachusetts.

Know how the advisor is compensated

Ask how the financial professional is paid. 
Knowing the benefits financial professionals may receive can be an essential factor in helping you figure out whose advice you should trust and follow. Advice to roll over funds into an IRA or buy an annuity can generate compensation like a commission for the broker or agent.
Fee-only advisors, in contrast, only make money from direct fees from clients. Those fees may be based on a percentage of the money they manage, or charged on a fee-for-service or hourly basis. 

Find fiduciary financial advisors, and vet them More

The median U.S. asking rent price in December was $1,964, a 0.8% decline from a year ago, according to real estate firm Redfin.
While prices are moderately cooling in the rental sector, there is still a long way to go before the real estate market sees consistent and significant price decreases, according to Jacob Channel, a senior economist at LendingTree.
Whether you are on the rental market sidelines or have your eyes set on the ideal apartment in your area, here are three ways to strengthen your credit score.

Fg Trade | E+ | Getty Images

Rising inventory is helping push rent prices down. For young adults, building credit is a smart step to take as they prepare to enter the rental housing market.
The median U.S. asking rent price in December was $1,964, a 0.8% decline from a year ago, according to real estate firm Redfin, which analyzed price data on single-family homes, multifamily units, condos/co-ops and townhouses across the U.S., except metro areas. It was the third consecutive decline after a 2.1% annual drop in November and a 0.3% decrease in October.

“It is good news for Gen Z that there are more rental options at more affordable prices,” said Daryl Fairweather, chief economist at Redfin.

While prices are moderately cooling in the rental sector, there is still a long way to go before the real estate market sees consistent and significant price decreases, according to Jacob Channel, a senior economist at LendingTree.
“It’s probably still going to be hard to rent in a lot of instances, unfortunately,” he said.

Many Gen Zers are still living with their parents

While some older Gen Zers were able to become homeowners during the Covid-19 pandemic, most did not. They either became renters or never moved out of their parents’ house.
Gen Z includes those born between 1996 and 2012, according to Pew Research Center’s definition, and the youngest members of that cohort are still teens and tweens.

Nearly a third, 31%, of adult Gen Zers live at home with parents or a family member because they can’t afford to buy or rent their own place, a recent report by Intuit Credit Karma found.
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Some of those who did rent are now struggling. Of the Gen Z adults who currently rent, 27% say they can no longer afford the cost, the firm found. It polled 1,249 U.S. adults in November.
“The high cost of housing, even as it comes down in some areas, is going to remain a problem for both buyers and renters for quite some time,” said Channel.
In the meantime, there are ways Gen Z adults can prepare, especially those at home saving on expenses.

How building credit can help you rent your own place

Landlords may look at prospective tenants’ credit to assess their ability to make payments on time. Having a good track record with credit can boost your chances that your application is accepted, and with favorable terms.
In short: A strong credit history can make you a competitive candidate.
“Practice healthy habits overall with any line of credit that you may have,” said Melissa Lambarena, credit card expert at NerdWallet. “Whatever you’re charging to your credit card, you should only charge what you can afford to pay back.”

Three ways to build credit

Whether you are on the rental market sidelines or have your eyes set on the ideal apartment in your area, here are three ways to strengthen your credit score:
1. Leverage bills you routinely pay
Traditionally, recurring household bills such as utilities and internet service do not show up on your credit report — and so they are not factored into your credit score.
However, programs such as Experian Boost, StellarFi and UltraFICO allow users to build credit based on alternative metrics such as banking activity and payments for streaming services, electric bills and mobile phone plans. Once you are renting a place, some programs also report those payments as a way to build credit.
However, remember that building your score this way still requires time and consistently good payment habits, said Channel.
“It’s not magical [where] you make three utility payments on time and you suddenly have an 800 credit score. That’s not how it works,” he said.

2. Become an authorized user
You can build good credit based on another person’s credit history when you become an authorized user on their credit card. Under this status, you can use the card, but unlike a cosigner, you’re not on the hook for the balance. This is usually an ideal option for parents who want to help their children build credit.
However, make sure the person whose account you’re piggybacking has a strong credit score. If you become an authorized user with someone who is not as responsible with their debt, it won’t help your credit — and might make things worse for everyone involved, said Channel.
Additionally, the card issuer must report your payment history to the major credit bureaus. Otherwise, it won’t do much good to be an authorized user. Check the credit card company’s terms and conditions to see how it handles that relationship.
Once you cover these steps, set up a plan with the other person: how much you will pay, what your limit will be or if it’s a matter of not using the card at all, said Lambarena.
3. Consider a secured credit card
One of the most straightforward ways to start building credit, especially for a young person, is to look into a secured credit card, said Channel.
A secured credit card can be easier to qualify for because it requires a security deposit, said Lambarena. That’s typically tied to your credit line. In other words, you are setting up your own credit limit by how much you pay up front. “A really low deposit would mean maybe you do not have that much to spend,” she said.
The ideal secure credit card for someone starting to build credit won’t carry an annual fee, reports payments to all major credit bureaus and has a built-in path toward an unsecured credit card in the future with the same issuer once you build up a good credit, said Lambarena.Don’t miss these stories from CNBC PRO: More

Most retirees would prefer to spend their final days at home, but high costs and lack of accessibility to services can get in the way.
Some cities are experimenting with community models that help provide support to older adults, making it possible for them to remain in their homes longer.

Laguna Beach, California
Luciano Lejtman | Moment | Getty Images

When most people think of Laguna Beach, California, they think of its scenic coves and beaches.
But the small coastal city — with a population of around 22,600 — is also pioneering a new model for elder care.

About 77% of adults ages 50 and up hope to stay in their homes long term, according to AARP. In Laguna Beach, the rate is even higher, with about 90% of residents, according to Rickie Redman, director of the city’s aging-in-place services, dubbed Lifelong Laguna.
The program, which provides services through a hometown nonprofit, was piloted in 2017. Lifelong Laguna is based on the Village movement, where aging in place is encouraged with community support.
The Laguna Beach program aims to fulfill a specific need for a city where approximately 28% of residents are age 65 and over, while local assisted living and memory care services are scarce.
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Many of the older residents have lived in the city since they were in their 20s and 30s, and now find themselves in their 70s and 80s, according to Redman. Many of them trace back to the city’s artistic roots, she said.

“They make this city unique,” Redman said. “They’re the placeholders for the Laguna that we now know.”
Notably, there is no cost for the city’s older adults to participate in most of the services.
The program, which currently has around 200 participants, relies on grants and local fundraising, according to Redman. Its services address a wide range of needs, including a home repair program the city operates in collaboration with Habitat for Humanity, nutrition counseling and end-of-life planning.
Other cities have also adopted community support models for residents who age in place through the Village movement. That includes tens of thousands of older adults in 26 states and Washington, D.C., according to Manuel Acevedo, founder and CEO of Helpful Village, which provides technology support to seniors and participating communities.

Retirees confront high costs to stay at home

The high costs of aging in place are one of the biggest obstacles that prevents older adults from fulfilling their desire to stay put, experts say.
About 10,000 baby boomers are expected to turn age 65 every day until 2030. An estimated 70% of those individuals will need long-term care services at some point, according to Genworth Financial.
In 2021, the highest year-over-year increase in cost was in home-care services, Genworth’s research found. The median annual cost for in-home care was $61,776 for a home health aide to provide hands-on personal care and $59,488 for homemaker services to help with household tasks.
Those costs have been influenced by supply and demand, according to Genworth.

As more people age and require care, the Covid pandemic led to an insufficient supply of professionals to meet care needs, as well as a high turnover rate.
Preferences for aging in place are also showing up in the real estate market.
Baby boomers currently represent the biggest portion of home buyers, according to Jessica Lautz, deputy chief economist and vice president of research at the National Association of Realtors. More than half of boomers are saying that the property they are purchasing now is where they plan on living for the rest of their lives, a sentiment that has increased since the Covid pandemic.
“There definitely is a mindset change, where people are saying, ‘I do want to stay put, I don’t necessarily want to move into a nursing home or into assisted care,'” Lautz said.

‘Forever grateful’ for community

Sylvia Bradshaw, an 84-year-old Laguna Beach resident who moved to the city in 1983, describes it as “paradise.”
She has lived there since that time, apart from a stint when she and her husband relocated to Ireland. Still, the couple held on to their home, the city’s third-oldest house, which was built in 1897.
“My husband had ideas about selling our home,” Bradshaw said. “But I would never sell it, because I said ‘Once it’s gone, it’s gone forever.'”
Bradshaw’s husband was a teacher in the city’s high school and later became a lawyer. More recently, he had health struggles that made it difficult for the couple to keep up with yard work, Bradshaw said.
As members of the Laguna aging-in-place community, they had access to help.
Redman helped arrange for a team of workers to come to clean up the yard, which included removing 17 bags of scraps and trimming a roughly 30-year-old fig tree.
“Now people can see that there’s a house there; they just couldn’t see it [before],” said Bradshaw, who said she is “forever grateful” for the gesture.
The support of the community also was especially helpful in sorting through the hospice care issues prior to her husband’s recent death.
“Anything that I’ve needed, I’ve gotten help,” Bradshaw said.
That has included help sorting through insurance choices, legal advice, transportation assistance and classes and social events, said John Bradshaw, Sylvia’s son.
Having the elder community support his parents is a “big comfort,” John said, particularly as he no longer lives in Laguna Beach.
“It is just such a wonderful relief,” John said. “It’s like having a second family, this team of people really supporting my parents, and others like them, to be able to stay and enjoy this part of the country.”

What to do if you want to age in place

If you want to age in place, it helps to start planning early to make sure it’s feasible, said Carolyn McClanahan, a physician and certified financial planner who is the founder of Life Planning Partners in Jacksonville, Florida.
“We actually start bringing it up with clients in their 50s and 60s: Where do you want to live out the end of your life?” McClanahan said. “Of course, most people do say, ‘I want to live in my home.'”
It’s important to be realistic about those plans.
Ask yourself whether the decision to age in place is just “rationalized inertia,” or giving yourself an out when it comes to confronting other important aging decisions, said Tom West, senior partner at Signature Estate and Investment Advisors in Tysons Corner, Virginia.

If you do decide staying in your home is the best option, be prepared to make changes to your home, he said. That may include wider doorways to accommodate wheelchairs or walkers, as well as grab bars to help prevent falls.
Like the aging-in-place models established in Laguna Beach and elsewhere, it helps to have community support. McClanahan recommends developing strong relationships with your neighbors where you agree to look out for each other.
It also helps to set certain boundaries for when staying at home no longer makes sense.
For example, it may cost $240,000 a year to stay home if you need 24-hour care, McClanahan said.
“Even if you’re super rich, a lot of families hate seeing that much money go out the window, when you would pay half the cost to actually go into a facility,” McClanahan said.
Further, be sure to outline your wishes in all potential circumstances. While you may want your children to promise not to put you in a nursing home, it may come to a point where it is more cost effective and safer to go to a care unit, McClanahan said.   More

Eric Greager, President and CEO of Civitas Resources, at the NYSE, November 9, 2021.
Source: NYSE

As investors confront uncertain markets in the short term, dividend paying stocks could offer some portfolio stability and income.
Analysts have dug into the details on dividend-paying stocks, analyzing companies’ fundamentals and understanding their long-term growth potential.

With that in mind, here are three attractive dividend stocks, according to Wall Street’s top experts on TipRanks, a platform that ranks analysts based on their past performance.
Civitas Resources
First, there is independent oil and natural gas producer Civitas Resources (CIVI). The company is focused on developing assets in the Permian and Denver-Julesburg basins.
Civitas paid a quarterly dividend of $1.59 per share on December 29, 2023. This payment included a base dividend of $0.50 per share and a variable dividend of $1.09 per share.
Earlier this month, Mizuho analyst Nitin Kumar upgraded Civitas stock to buy from hold with a price target of $86 per share. The analyst called the stock one of his top picks in the U.S. oil and gas space. The analyst thinks that 2023 was a transformative year for the company, with three major acquisitions in the Permian Basin reshaping its asset base.
Kumar added that these recent acquisitions extended the duration of the company’s overall inventory to nearly 10 years, making it more competitive than its small and mid-cap exploration and production rivals. He also highlighted that the CIVI offers the highest cash returns compared to its peers.

Despite these positives, the stock still trades at a major discount to its peers on FCF/EV and EV/EBITDAX (earnings before interest, taxes, depreciation or depletion, amortization, and exploration expense) basis.
“We think this relative valuation gap is too wide considering the vastly improved asset base and expanded inventory duration,” said Kumar. 
Kumar ranks No. 224 among more than 8,600 analysts tracked by TipRanks. His ratings have been profitable 60% of the time, with each delivering an average return of 15.5%. (See Civitas Insider Trading Activity on TipRanks)  
Williams Companies
We move to another energy dividend stock – Williams Companies (WMB). The energy infrastructure company handles about one-third of the natural gas shipped in the U.S.
On Dec. 26, 2023, the company paid a quarterly dividend of $0.4475 per share. This dividend marked a 5.3% year-over-year growth. WMB offers a dividend yield of 5.1%.
Williams recently acquired a portfolio of natural gas storage assets from Hartree Partners LP’s affiliate for $1.95 billion. Stifel analyst Selman Akyol expects this acquisition, which includes six natural gas facilities, to be favorable, given the acquired assets’ access to LNG export facilities.
The analyst thinks that the deal will enhance the company’s storage to cater to the growing LNG demand. Additionally, the analyst noted that this acquisition would place the company in a better position to provide fuel for standby power plants amid the transition to renewables.
Akyol reiterated a buy rating on WMB stock with a price target of $40, saying, “With a diversified gathering footprint and the largest U.S. long-haul natural gas pipeline in Transco, Williams’ footprint should remain insulated from commodity price swings with over 90% fee-based margins.”   
The analyst also highlighted the company’s top-tier distribution coverage, investment grade balance sheet, attractive yield and the ability to generate stable cash flows despite macro challenges.
Akyol holds the 976th position among more than 8,600 analysts on TipRanks. His ratings have been successful 63% of the time, delivering a return of 4.2%, on average. (See Williams’ Financial Statements on TipRanks.
Kimco Realty
Finally, we look at Kimco Realty (KIM), a real estate investment trust (REIT) that is focused on grocery-anchored shopping centers. In December 2023, the company paid a quarterly cash dividend of $0.24 per share, which reflected a 4.3% increase over the prior dividend payment. KIM’s dividend yield stands at 4.7%.   
Following Kimco Realty’s recently completed acquisition of RPT Realty, Stifel analyst Simon Yarmak reaffirmed a buy rating on KIM stock and slightly increased the price target to $23 per share from $21.75 per share. The analyst noted that management is optimistic about an upside to occupancy levels in RPT’s portfolio, margins, and a solid signed-not-opened (SNO) portfolio.  
The analyst added that management is positive about the financial health of the company’s tenants and thinks that its exposure to Rite Aid, which filed for bankruptcy in 2023, remains “very muted.”
Yarmak remains bullish on Kimco Realty and thinks that the company’s portfolio is stable and has significant size and scale in its target markets. He raised his 2024 FFO (funds from operations) per share estimate to $1.62 from $1.61 and 2025 estimate to $1.69 from $1.68. The analyst expects 2023 FFO of $1.57 per share.
“KIM is focused on executing on the value creation opportunities within its portfolio to drive NOI [net operating income] and cash flow growth,” said Yarmak, explaining his investment stance.  
Yarmak ranks No. 410 among more than 8,600 analysts tracked by TipRanks. His ratings have been profitable 58% of the time, with each delivering an average return of 9.7%. (See Kimco Realty Technical Analysis on TipRanks)   More

Americans on average spent $3,458 on entertainment in 2022, according to data from the U.S. Bureau of Labor Statistics.
Before you decide to cut back on discretionary spending, experts point out why hobbies shouldn’t be the first category to go.

Ryanjlane | E+ | Getty Images

People often start the year by revisiting their budgets with a resolution to save money and cut back on discretionary spending. Yet, experts say hobbies shouldn’t be the first category to go.
Americans on average spent $3,458 on entertainment in 2022, according to the most recent Consumer Expenditures report from the U.S. Bureau of Labor Statistics. This broad category covers a range of expenses that people consider hobbies, as well as concert tickets and pets.

Costs can vary widely depending on the hobby involved. For instance, after the initial purchase of supplies, gardening runs an average of $70 per person per year, according to Bigger Garden, while Stitch Golf puts the annual costs of golfing at about $2,000 to $2,500.

Spending on activities that bring you joy should not be left in the rearview mirror, experts say. If done wisely, cash spent on your hobbies is money well spent.
“I tell my clients all the time how important self-care is,” said Rebecca Weiler, a licensed mental health counselor in New York City. “It helps people to live longer, it helps people enjoy life more, it gives people something to look forward to.”

How much should you spend on a hobby?

A lot of times, startup costs for hobbies and interests are very expensive, said Weiler. Yet, there are often beginner-friendly alternatives you should take note of before you make bigger purchases.
Research the new sport or creative outlet you’re interested in and find out the basic tools you may need.

Take pickleball, for example: The total cost to play the sport will depend on the type of paddle you choose, athletic shoes and attire, balls, court rental and tournament fees. You can find entry-level paddles between $15 and $50, while higher-end models go upward of $100.
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There may be free or low-cost options you could explore, such as free trials, a reduced introductory fee or even a payment plan. You can also borrow gear from friends while you try out the new hobby or consider rental options. Some libraries also offer access to hobby-related items such as gardening tools, sports equipment and musical instruments.
Start small. “Audit a class versus signing up for a class,” said Weiler. See if the activity is truly something you enjoy before you are financially committed to it.

Don’t finance a new hobby on debt

If you do enjoy the hobby, find a way to make it financially sustainable. “Create an effective, realistic budget that will allow you to start a hobby that makes you happy,” said J.R. George, senior vice president at Trustco Bank.
However, if the hobby requires you to take out debt, tread with caution. While credit cards and loans can be tools to help you reach certain milestones, it may not be in your best interest to take on debt to pay for a new hobby or creative outlet.

“It almost becomes a forced hobby. You feel like you are absolutely forced to do it,” said George.
For example, George has seen some banking clients fall into this pitfall when they take up boating.
You trap yourself in a mindset of “I have this boat, I have to use it,” or “Now I have to do the hobby because I’ve incurred an expense for it,” he added.

Does money spent on hobbies buy happiness?

Another reason to preserve your hobby budget: Such spending may buy happiness.
Several studies have found that people are happier when they spend money on experiences rather than material goods, while researchers at the University of Cambridge found that individuals who spent more on products that match their personality reported higher levels of satisfaction.
“Somebody working really hard at their job who knows they have something to look forward to outside of that will be a better employee,” said Wailer.Don’t miss these stories from CNBC PRO: More

The Covid-19 pandemic resulted in an increase in people looking for love on dating platforms such as Match Group’s Tinder app.
Beata Zawrzel | NurPhoto | Getty Images

Company: Match Group (MTCH)

Business: Match Group provides dating products worldwide. Their portfolio of brands includes Tinder, Match, The League, Azar, Meetic, OkCupid, Hinge, Pairs, Plenty Of Fish and Hakuna, as well as various other brands. Their services are available in over 40 languages to users all over the world.
Stock Market Value: $10.02B ($36.88 per share)

Stock chart icon

Match Group’s performance in the past year

Activist: Elliott Management

Percentage Ownership:  ~9.5%
Average Cost: n/a
Activist Commentary: Elliott is a very successful and astute activist investor. The firm’s team includes analysts from leading tech private equity firms, engineers, operating partners – former technology CEOs and COOs. When evaluating an investment, the firm also hires specialty and general management consultants, expert cost analysts and industry specialists. The firm often watches companies for many years before investing and has an extensive stable of impressive board candidates. Elliott has historically focused on strategic activism in the technology sector and has been very successful with that strategy. However, over the past several years its activism group has grown and evolved, and the firm has been doing a lot more longer-term activism and creating value from a board level at a much larger breadth of companies.

What’s happening

Behind the scenes

Match Group is by far the global leader in online dating apps with over 45 brands, the most notable of which are Tinder and Hinge. Tinder is the most downloaded dating app in the world and accounts for over half of the company’s revenue at approximately $1.9 billion and has over 50% earnings before interest, taxes, depreciation and amortization margins, but lackluster growth. Hinge accounts for $400 million of the company’s revenue but has been growing at over 100% per year. This is a market-leading company with an amazing financial profile – growing top line, high EBITDA margins and asset light generating revenue through a subscription model. However, their stock price performance compared to both peers and the broader market has been abysmal, with the stock down over 60% since the company’s separation from IAC in July 2020.

The opportunity here is to get growth back up – it has gone from a 35% compound annual growth rate to high single digits – and to get margins well above 40% from their current level at 36%. The main problem here is oversight, primarily in the form of management turnover. Match Group, the holding company, has had four CEOs in six years. Tinder, the largest business, has had six CEOs in eight years. With the median tenure of a Tinder CEO at one year, it makes it nearly impossible to implement a long-term strategic plan. Moreover, the company has also done some bad strategic deals, including its June 2021 acquisition of Hyperconnect at the top of the market in a deal valued at $1.73 billion, which has already incurred $270 million of impairment charges. So investors have many doubts about the company, including the following: Is this the right leadership team? Is Match a growth or value company? Is Tinder a melting ice cube?
The first thing that needs to be done is getting the right CEO at Tinder to set a decisive long-term vision for the company. Shortly after Elliott’s position was announced, the company named Faye Iosotaluno, who has been Tinder’s chief operating officer since August 2022, as CEO of Tinder, ending a nearly two-year vacancy where the Match CEO also acted as the Tinder CEO. Once the right leader is at the helm of Tinder, a margin restoration should require no more than basic blocking and tackling, particularly since the company has very stable and competent CFO in Gary Swidler who has been there for 8 1/2 years. Next, the company can regain its strong growth with more investing in certain demographics or monetization opportunities around pricing and bundling. This is a lot like the situation Elliott saw at Pinterest – declining user base (like Tinder) and monetization opportunities to pursue. Elliott announced its Pinterest investment in July 2022, went on the board in December 2022 and has had a 113% return there versus 16% for the Russell 2000.
We would expect Elliott would likewise want a seat on the board here. Based on the firm’s experience and history, the board and shareholders should welcome them. In 2023, activists have had some success in 96% of their campaigns, in part because they are not overreaching and instead come in with reasonable asks. That is the case here. If Elliott asks for a board seat, we would expect the company to rather quickly accede. We would be shocked if this went to a proxy fight. However, if it did, it would almost be a foregone conclusion that Elliott receives board representation, given the firm’s track record, the company’s performance, the staggered board and the universal ballot.
Elliott reportedly has an approximate $1 billion position in Match, equating to approximately 9.5%, which likely includes a material amount of cash settled derivatives that the firm does not include as beneficial ownership under 13D rules.
Ken Squire is the founder and president of 13D Monitor, an institutional research service on shareholder activism, and the founder and portfolio manager of the 13D Activist Fund, a mutual fund that invests in a portfolio of activist 13D investments.  More

The fourth-quarter estimated tax deadline is Jan. 16, and you could have a surprise bill or owe a penalty if you don’t send a payment.
You may owe estimated taxes with income from self-employment, small businesses, investments, gig economy work and more.
You can avoid an IRS penalty by paying the lesser of 90% of taxes for 2023 or 100% of your 2022 levies if your adjusted gross income is less than $150,000.

Westend61 | Westend61 | Getty Images

The fourth-quarter estimated tax deadline is Jan. 16, and you could have a surprise bill or owe a penalty if you don’t send a payment, according to the IRS.
While many employers withhold levies from every paycheck, other income — such as freelancing, small business or investment earnings — requires a separate payment to the IRS.

Generally, you must make quarterly estimated payments for this income if you expect 2023 tax liability of $1,000 or more.
In December, the IRS reminded such taxpayers to make a fourth-quarter tax payment on or before Jan. 16 “to avoid a possible penalty or tax bill when filing in 2024.”
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“By making those payments, you avoid having to pay the IRS even more on April 15,” said certified public accountant Tom Wheelwright, CEO of WealthAbility.
If you miss the estimated tax payment deadline, you may trigger a late penalty of 0.5% of your unpaid balance per month or partial month, up to 25%, plus interest, which is currently 8%.

What to know about the ‘safe harbor’ rules

Filers can avoid an underpayment penalty by following the “safe harbor” guidelines, according to Mark Steber, chief tax information officer at Jackson Hewitt.
You meet the requirements by paying at least 90% of the current year’s tax liability or 100% of last year’s taxes, whichever is smaller.

But if your 2022 adjusted gross income was $150,000 or more, you need to pay the lesser of 90% of the current year’s tax liability or 110% of last year’s taxes to meet the safe harbor requirement for 2023. You can find adjusted gross income on line 11 of Form 1040 from your 2022 tax return.
“A really good tax projection [for 2023] is something that you need to think about right now,” Steber added. 

How to make quarterly estimated tax payments

With limited time until the deadline, “the fastest and easiest” option for remitting funds to the IRS is via electronic payments, according to the agency. Here are your options:

If you pay by sending a check in the mail, Wheelwright recommends sending it via certified mail with a return receipt because you may “have to prove that you made it on time.”

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Companies including Google, Amazon and Citigroup have opened the new year with job cuts.
If you’re newly out of work, experts say it would be wise to make certain moves now to shore up your finances and kick-start your job search.

Jackyenjoyphotography | Moment | Getty Images

The start of 2024 has not been kind to workers in industries that opened the year with layoffs.
Google has cut several hundred jobs in its central engineering, hardware and assistant teams. Amazon is shedding hundreds of positions across its Prime Video, MGM Studios, Twitch livestreaming and Audible divisions.

Tech is not the only sector to make headlines for job cuts. Citigroup is cutting 10% of its workforce amid a corporate overhaul.
Recent U.S. Department of Labor data shows layoffs have been hovering near historic lows — and experts say getting laid off no longer has the same stigma it once did.
“Being let go from a job is not as taboo as it once was years ago,” said Scott Dobroski, career trends expert at Indeed.

“There’s a variety of changes going on in the world of work. There have been a number of layoffs across the nation,” he said.
The following steps can help you shore up your finances and kick-start your job search.

1. Calculate severance pay, unused time off

You may receive a severance package from your employer or get paid for unused time off. Keep in mind that such time may be prorated based on the time of year, rather than your full annual allotment.
Find out when you might get your last paycheck and how the pay schedule works to better gauge the size of that deposit, advised Ted Jenkin, a certified financial planner and CEO of oXYGen Financial, a financial advisory and wealth management firm based in Atlanta. Jenkin is also a member of the CNBC Financial Advisor Council.
If you’re able to find a new job quickly, you may be able to bank the severance pay, he noted.
Also be sure to file for unemployment benefits right away, because getting approved can take weeks.

2. Consult with experts on your exit

3. Book important medical appointments

Now is a great time to get in any doctor’s appointments you need to make if you still have your employer-provided plan and flexible spending account, and before COBRA kicks in.
That should include dental and vision care, if possible, Jenkin said.

4. Take stock of any 401(k) loans you’ve taken

If you have taken a loan from your 401(k), check with your retirement plan provider to see what will happen to that balance after a job loss, Jenkin said.
Some plans may require the loan be paid back within 90 days, while others may allow you to roll the loan to a new 401(k), for example.
“If that loan is not paid back, it can become taxable income,” Jenkin said.

5. Use tools to boost your job search

The amount of work it takes to find a new job can be greatly reduced if you use technological tools, according to Dobroski.
Let your social media connections know you are looking for work. Also be sure to update profiles on job search sites with your skills, experience and what you want in a new role.
Using those tools may help you discover roles you may not have otherwise considered, said Dobroski, who has seen bank tellers transition to sales executives after finding the role was also a fit for their skill set.
“We’ve seen some people get jobs quicker and earn salaries of upward of $30,000, $35,000 or more because they’re finding a job that way,” Dobroski said.

6. Commit to at least one daily job-hunting task

Searching for a job can admittedly be an exhausting and frustrating process.
To keep yourself on track, a good rule of thumb is to commit to doing one thing every day, Dobroski said.
That may include updating your resume, applying for a specific job, creating a new profile on a job search website or talking to a mentor.

7.  Perfect your resume and other materials

As you revise your resume, be sure to include any new achievements or skills that could put you at the top of an employer’s list of job candidates.
Be sure to highlight transferable skills, Salemi said, such as the ability to lead with empathy, handle deadline-driven work and operate under a company’s budget. Looking at past performance reviews can help jog your memory, she suggested.
As news of layoffs continues to make headlines, keep in mind that new opportunities are still abundant.
“With the unemployment numbers at 3.7%, clearly there are still a lot of jobs that are out there,” Jenkin said.Don’t miss these stories from CNBC PRO: More