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Learning about money can help you feel financially secure: CNBC survey

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2 years ago

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Inflation is the main source of financial stress, CNBC's Your Money Survey finds

In your quest to feel financially secure, don’t discount financial literacy as a tool.

CNBC’s International Your Money Financial Security Survey polled roughly 500 people each in nine countries. Of the 498 people surveyed in the U.S., 70% reported feeling “very” or “somewhat” stressed about their personal finances. The poll was conducted by SurveyMonkey.

Top sources of that stress include several factors outside consumers’ control, including inflation (65%), economy-wide instability (35%) and high interest rates (27%). Others pointed to elements in their personal situation such as a lack of savings (44%), credit card debt (26%) or a layoff or loss of income (16%).

As part of its National Financial Literacy Month efforts, CNBC will be featuring stories throughout the month dedicated to helping people manage, grow and protect their money so they can truly live ambitiously.

Boosting your money knowledge can be empowering, members of the CNBC Global Financial Wellness Advisory Board say, particularly when you’re trying to achieve financial security in tough economic conditions.

“Financial education is like being able to swim,” said Annamaria Lusardi, founder and academic director of the Global Financial Literacy Excellence Center, or GFLEC. “It’s a good skill and it becomes of particular importance when you end up in a storm.”

Security ‘means different things to different people’

There’s no one set definition for financial security.

“It means different things to different people, and it means different things to different people at different parts of our lives,” said Laura Levine, president and CEO of the Jump$tart Coalition for Personal Financial Literacy.

Making the grade in financial literacy: More states require students to take personal finance course

Depending on who you ask, it might mean feeling peace of mind about your money situation, earning enough to both cover bills and save for the future, or having resources to weather an unexpected expense.

“Getting to a place of financial security for some is just having some dollars put away for emergencies,” said Billy J. Hensley, president and CEO of the National Endowment for Financial Education, or NEFE. “That goes a long way to relieving stress.”

Among U.S. respondents in the CNBC survey, some of the most common components to feeling financially secure included having no outstanding debts (59%), accumulating “high levels” of savings (47%) and owning their own home (45%).

When it comes to achieving that security, 44% of U.S. respondents said the most important part is spending less than you make, followed by 29% who point to having a steady, well-paid job.

Just understanding that financial security is a highly personal goal — and one that doesn’t necessarily require significant income or assets — can help you feel more secure, said Levine. For example, she said, if a person can say, “I’m not a millionaire, but I can pay my bills and feed my family,” that may represent financial security for them.

Morsa Images | Digitalvision | Getty Images

Money knowledge plays an ‘important role’

Studies show that learning more about money can improve your financial situation.

“There is an important role for financial literacy here,” said GFLEC’s Lusardi, who is also a senior fellow at the Stanford Institute for Economic Policy Research and director of the Initiative for Financial Decision-Making.

The TIAA Institute-GFLEC Personal Finance Index, which has been conducted annually since 2017, includes questions to gauge respondents’ basic financial knowledge as well as queries into their personal money habits and well-being.

Among other outcomes, consumers who got high scores on the financial literacy questions were significantly less likely than those with low scores to have difficulty making ends meet in a typical month, to lack emergency savings or to be unable to come up with $2,000 to cover an unexpected expense, according to the 2023 report.

People tend to put their newfound financial knowledge to use quickly, which shows in how they approach decisions, said NEFE’s Hensley.

“There’s a confidence that comes with knowing,” Hensley said.

As with investments, even small improvements can compound, he said — motivating you to keep going.

Here are three moves that can help you learn more about money and feel more financially secure in the process:

  • Talk about money: Many people find it difficult to talk to friends and family about money. But keeping your struggles and goals a “hidden, secret thing” holds you back, said Yanely Espinal, director of educational outreach for Next Gen Personal Finance. “The moment you start opening up talking with other people … that in and of itself can help you feel more financially secure because you know you’re not alone in this,” she said.
  • Seek advice: “People assume that financial literacy means understanding everything yourself,” said Jump$tart’s Levine. But really, Hensley said, “it helps you understand what you can manage and when to ask for help.” Looping in a financial advisor, counselor or other expert can help you fuel your knowledge and make progress toward your goals.
  • Make a plan: Mapping out how you’ll use newfound financial knowledge can be powerful, considering many elements of financial security can take time to achieve, Espinal said. For example, laying out a timeline and strategies you’ll employ to pay off debt can boost your confidence long before you zero out that balance. “That alone creates a sense of security,” she said. “It contributes to that sense of, ‘I am on that path.'”

(Espinal, Hensley, Levine and Lusardi are all members of the CNBC Global Financial Wellness Advisory Board.)

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$20,000 Caution Bond Requirement for US Visa Applications imposed on 50 Countries

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6 days ago

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August 8, 2026

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The United States Department of State has officially implemented a revised visa policy introducing a mandatory posting requirement for caution payments of up to $20,000 on select foreign travel applications. Under the updated regulatory framework, consular officials are authorized to require temporary nonimmigrant visa applicants from targeted foreign countries to post a refundable financial bond of $20,000 as a condition for visa issuance. The policy mechanism is designed to address diplomatic concerns regarding high overstay rates among temporary visitor, business, and educational visa categories.

The caution bond pilot program applies selectively to foreign nationals from designated countries whose diplomatic entities record historical visa overstay rates exceeding established federal thresholds. Under administrative guidelines published by the State Department, the full financial deposit is posted directly to a dedicated federal escrow account prior to final visa issuance. The entire caution payment is automatically refunded to the applicant upon verified proof of timely departure from the United States in strict compliance with the authorized duration of stay. Conversely, failure to depart within the legal timeframe results in full forfeiture of the posted financial bond to the United States government.

Diplomatic representatives and travel policy experts have expressed varying perspectives regarding the operational implementation of the caution bond system. Administration officials emphasize that the measure serves as an effective, market-based incentive to enforce international travel compliance and preserve domestic immigration security standards. However, international trade organizations and foreign diplomatic missions have raised concerns regarding the financial burden imposed on legitimate business travelers, foreign students, and commercial partners from developing nations.

The United States finalized the rule to make the temporary visa bond program permanent, taking effect on August 3, 2026. The updated permanent regulation replaces the prior 12-month pilot, eliminates the lowest $5,000 tier, and raises the maximum required bond amount to $20,000 for specific B-1/B-2 business and tourist visa applicants.

Here is the list of the 50 countries on the list as o August 3, 2026

African Nations (31 Countries)

  • Algeria
  • Angola
  • Benin
  • Botswana
  • Burundi
  • Cabo Verde (Cape Verde)
  • Central African Republic
  • Côte d’Ivoire (Ivory Coast)
  • Djibouti
  • Ethiopia
  • Gabon
  • The Gambia
  • Ghana
  • Guinea
  • Guinea-Bissau
  • Lesotho
  • Malawi
  • Mauritania
  • Mauritius
  • Mozambique
  • Namibia
  • Nigeria
  • São Tomé and Príncipe
  • Senegal
  • Seychelles
  • Tanzania
  • Togo
  • Tunisia
  • Uganda
  • Zambia
  • Zimbabwe

Asian & Eastern European Nations (11 Countries)

  • Bangladesh
  • Bhutan
  • Cambodia
  • Georgia
  • Kyrgyzstan
  • Mongolia
  • Nepal
  • Papua New Guinea
  • Tajikistan
  • Turkmenistan
  • Uzbekistan

Caribbean & Latin American Nations (5 Countries)

  • Antigua and Barbuda
  • Cuba
  • Dominica
  • Grenada
  • Venezuela

Oceanian Nations (3 Countries)

  • Fiji
  • Tonga
  • Vanuatu

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Next-Generation Retirement Planning: Managing Longevity Risk and Variable Income Streams

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1 week ago

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August 7, 2026

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Retirement planning strategies are evolving in 2026 to address increased life expectancies, shifting dynamic market conditions, and the transition away from traditional defined-benefit pensions. Individual investors and financial advisors are abandoning rigid retirement models in favor of flexible, multi-asset strategies designed to mitigate longevity risk and preserve purchasing power over multi-decade retirement horizons.

Mitigating Longevity Risk with Dynamic Asset Allocation
As average life expectancies extend past eighty-five years, one of the primary financial risks facing retirees is outliving their accumulated wealth. Traditional fixed income allocations—such as the standard 60/40 equity-to-bond portfolio—are being reevaluated to ensure portfolios generate sufficient capital growth alongside reliable income.

Financial planners recommend maintaining a meaningful equity allocation throughout retirement to offset long-term inflation erosion. High-dividend equity funds, global real estate investment trusts (REITs), and inflation-indexed Treasuries are combined to create diversified portfolios that deliver both growth and income stability.

The Transition to Dynamic Withdrawal Strategies
The classic “4% safe withdrawal rule” is increasingly replaced by dynamic withdrawal strategies that adapt annually based on market performance. Under a dynamic withdrawal framework, retirees adjust their annual distribution rates within pre-set caps and floors:
– Market Upside: During strong market returns, retirees can increase discretionary spending or fund family legacy gifts.
– Market Downturns: During market pullbacks, spending distributions are temporarily reduced to prevent sequence-of-returns risk and preserve core investment principal.

Guaranteed Lifetime Income Options and Deferred Annuities
To establish a guaranteed baseline for essential living expenses, individuals are incorporating modern fixed-indexed and deferred longevity annuities into their broader retirement architectures. Modern annuity structures offer competitive return caps, transparent fee schedules, and inflation-adjustment options.

By funding essential expenses—such as housing, healthcare, and insurance—with guaranteed income streams from Social Security, pensions, and annuities, retirees can manage discretionary investment portfolios with greater flexibility and lower emotional stress during market volatility.

Actionable Steps for Future Retirees
1. Calculate Baseline Retirement Expenses: Determine fixed living costs and map guaranteed income sources to cover essential expenditures.
2. Adopt Flexible Withdrawal Rules: Implement dynamic spending rules to protect investment principal against market downturns.
3. Incorporate Inflation-Protected Assets: Maintain exposure to dividend-growing equities and inflation-indexed bonds to safeguard long-term purchasing power.

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Building Generational Wealth: Family Governance, Estate Tax Optimization, and Asset Protection

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2 weeks ago

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August 1, 2026

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As the largest intergenerational transfer of wealth in history accelerates, high-net-worth families, entrepreneurs, and individual investors are placing heightened emphasis on comprehensive estate planning, family governance, and asset protection. Preserving capital across generations requires a balanced approach combining tax-efficient legal structures with open family communication and financial literacy education.

Optimizing Estate Tax Exemptions and Trust Structures
With potential modifications to federal estate tax exemption thresholds on the horizon, proactive estate planning is essential for high-net-worth households. Estate planning attorneys and wealth advisors are establishing multi-generational trust structures to transfer wealth efficiently while minimizing estate and gift tax exposure.

Popular structural strategies include:
– Irrevocable Life Insurance Trusts (ILITs): Utilizing life insurance proceeds to provide liquidity for estate tax obligations without expanding the taxable estate.
– Grantor Retained Annuity Trusts (GRATs): Transferring rapidly appreciating assets to beneficiaries with minimal gift tax consequences.
– Dynasty Trusts: Preserving wealth across multiple generations while providing long-term asset protection from creditor claims and legal liabilities.

Establishing Family Governance and Financial Education
Legal and financial structures alone cannot guarantee long-term wealth preservation without effective family governance. Financial advisors report that a significant percentage of multi-generational wealth dissipation stems from lack of communication and inadequate financial preparation among heir generations.

Families are establishing formal family governance frameworks, including periodic family meetings, written mission statements, and structured philanthropic foundations. Involving younger family members in charitable grant-making and investment discussions fosters financial stewardship and prepares heirs to manage family assets responsibly.

Digital Asset Custody and Legacy Planning
In today’s modern economy, estate planning must extend beyond physical real estate and traditional brokerage accounts to encompass digital assets. Comprehensive estate plans now include detailed inventories and legal access protocols for corporate domain names, intellectual property, digital media rights, and cryptocurrency holdings.

Fiduciaries and estate executors should be provided with secure, encrypted access mechanisms and clear legal authority to manage and transfer digital holdings in accordance with the owner’s estate directions.

Practical Steps for Legacy Planning
1. Review and Update Estate Documents: Ensure wills, revocable trusts, and power-of-attorney designations accurately reflect current family structures.
2. Establish Structured Trusts: Utilize irrevocable trusts to protect assets from creditors and minimize future estate tax liabilities.
3. Create a Digital Estate Inventory: Document access protocols and legal permissions for all online accounts, intellectual property, and digital assets.

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