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At the Fortune Future of Finance conference, we asked David Nason, Chief Operating Officer of TIAA, Brooke Major-Reid, Chief Capital Officer at Affirm, and Jesse Van Tol, President and CEO, National Community Reinvestment Coalition for the best financial advice that they have ever received.
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CNBC Television
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University Retirement Planning
⏲ 1 minute 27 seconds 👁 3.2K
The average American spends nearly two and a half hours a day dreamscrolling — looking at dream purchases or things they’d like to one day own — and 71% say it’s time well spent, as the habit motivates them to reach their financial goals.<br/><br/>In a recent poll of 2,000 U.S. adults, more than two in five respondents say they spend more time dreamscrolling when the economy is uncertain (43%). In a year, that amounts to about 873 hours or nearly 36 days spent scrolling. <br/><br/>Conducted by OnePoll on behalf of financial services company Empower, the survey reveals half of respondents say they dreamscroll while on the job, and of those, one in five admit to spending between three and four hours a day multitasking while at work.<br/><br/>Gen Zers spend the most time dreamscrolling at just over three hours per day, while boomers spend the least, clocking in around an hour.<br/><br/>Survey respondents say looking at dream purchases makes it easier for them to be smart with their money (56%), avoid making unplanned purchases or going into debt (30%) and better plan to achieve their financial goals (25%).<br/><br/>Nearly seven in 10 see dreamscrolling as an investment in themselves (69%) and an outlet for them to envision what they want out of life (67%). Four in 10 respondents (42%) say they regularly spend time picturing their ideal retirement — including their retirement age, location and monthly expenses.<br/><br/>Scrolling for the American dream: one in five respondents are looking at homes or apartments (21%), while a quarter look at vacation destinations (25%), beauty or self-care products (23%), and items for their pet (19%).<br/><br/>Others spend time looking at clothing, shoes and accessories (49%); gadgets and technology (30%); and home décor or furniture (29%). <br/><br/>More than half (56%) currently have things left open in tabs and windows or saved in shopping carts that they’d like to purchase or own in the future. For those respondents, they estimate it would cost about $86,593.40 to afford everything they currently have saved.<br/><br/>Almost half of Americans say they are spending more time dreamscrolling now than did in previous years (45%) and 56% plan on buying something on their dream list before this year wraps. <br/><br/>While 65% are optimistic they’ll be able to one day buy everything on their list, nearly one in four say they don’t think they’ll ever be able to afford the majority of items (23%).<br/><br/>More than half (51%) say owning their dream purchases would make them feel more financially secure, and close to half say working with a financial professional would help them reach their goals (47%).<br/><br/>Others feel they have more work to do: 34% say they’ve purchased less things on their dream list than they should at their age, with millennials feeling the most behind (39%).<br/><br/>Top economic factors that may be holding some Americans back include rising prices (54%), inability to save money (29%) and growing debt (21%). <br/><br/>Instead of doom spending, dreamscrolling has had a positive impact on Americans’ money h
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TIAA Simplified for HigherEd
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David Rubenstein
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Adrienne A. Harris, Superintendent, New York State Department of Financial Services Moderator: Leo Schwartz, Reporter, Fortune
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TIAA Simplified for HigherEd
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Arnold u0026 Mote Wealth Management
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Sony's annual operating profit for fiscal 2023 fell 7%, dragged down by a decline in its financial services division. However, revenue increased 19% year over year. PlayStation 5 sales narrowly missed Sony's revised down target, and The Japanese gaming giant expects weaker PS5 sales in fiscal 2025. Sony restructured its gaming division, appointing new CEOs for platform and studio businesses. Sony is forecasting a 5% decline in group revenue for fiscal 2024.
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TIAA Simplified for HigherEd
⏲ 6 minutes 54 seconds 👁 1.4K
TIAA Simplified for HigherEd
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