With gold prices jumping to a new all-time high Wednesday, you might be wondering how much that gold bar you bought at Costco could be worth today.

As of Wednesday morning, gold traded around $3,549 per ounce, up from about $2,500 a year ago — a roughly 42% increase.

If you bought a Costco gold bar last year, it would likely fetch much more today than you paid. Still, some of those gains will be reduced once you factor in dealer fees and taxes.

Investors tend to seek out gold during times of uncertainty. Gold often gains when interest rates fall, because lower yields make assets that don’t earn interest, like gold, more appealing, according to research by the Federal Reserve Bank of Chicago. Currently, inflation concerns and economic uncertainty are adding to the momentum, say Jon Ulin, a certified financial planner based in Boca Raton, Florida.

“With two wars ongoing, trade tensions, U.S. debt concerns and fears over [Federal Reserve] independence, gold’s traditional ‘fear hedge’ role remains strong,” Ulin says. “It’s beating bonds at providing portfolio safety.”

Here’s how much a 1-ounce Costco gold bar purchased in September 2024 could be worth today, based on its listed purchase price and the spot price at 9 a.m. ET on Wednesday:

• Purchase price (September 2024): $2,679
• Spot price (Sept. 3, 2025): $3,549
• Unrealized gain: $870
• Percentage increase: 32.5%

If you’re thinking of selling your Costco gold bar for a profit, don’t expect to keep the difference between what you paid and the current spot price.

The spot price is more of a benchmark for negotiation, from which you can expect about 5% to 10% less from most dealers, says Ulin.

At brick-and-mortar bullion shops, you may get a better deal. Shops the Wall Street Journal spoke with in New York City in April typically offered 1% to 5% below the spot price. With these shops, you also get the convenience of in-person evaluations and immediate payment.

“Most buyers will likely melt the bar down for resale, so whether it’s still in its original Costco packaging with the certificate doesn’t make a huge difference,” says Ulin. “Unlike luxury watches, where the provenance and paperwork can significantly increase the value, gold bars are more about weight and purity.”

Avoid selling through eBay or Facebook Marketplace, where scams and lowball offers are common, says Ulin.

The Internal Revenue Service classifies physical gold — including Costco bars, coins and jewelry — as a collectible, says Troy Lewis, a certified public accountant and professor of accounting and tax at Brigham Young University.

If you sell within a year of buying, any profit will be taxed as ordinary income with no cap on the rate. If you hold for more than a year, the gain is treated as a long-term capital gain — but unlike stocks or real estate, which have preferential rates that max out at 20%, collectibles are taxed at ordinary income rates, capped at up to 28% depending on your income bracket.

Beyond federal taxes, sellers may also face state income taxes, which can vary widely. Unlike the federal government, most states don’t distinguish between collectibles and other capital gains — they simply tax income. Some states, like Florida or Texas, have no income tax at all, while others — such as California and New York — impose double-digit rates high enough to “curl your toes,” says Lewis.

High earners may also owe the 3.8% net investment income tax, which applies when modified adjusted gross income exceeds $200,000 for single filers or $250,000 for married couples filing jointly, per the IRS.

Altogether, the combined tax bite can meaningfully shrink the real return on gold. Still, Lewis says taxes shouldn’t be the sole factor in deciding whether to sell. The tax bill is unavoidable — the question is whether you’d rather lock in gains now or keep holding and see where prices go, he says.

Want to stand out, grow your network, and get more job opportunities? Sign up for Smarter by CNBC Make It’s new online course, How to Build a Standout Personal Brand: Online, In Person, and At Work. Learn how to showcase your skills, build a stellar reputation, and create a digital presence that AI can’t replicate. Sign up today.

Plus, sign up for CNBC Make It’s newsletter to get tips and tricks for success at work, with money and in life, and request to join our exclusive community on LinkedIn to connect with experts and peers.

There may be no more contentious argument in personal finance than rent vs. buy — and for those on one side of the fence, the case can seem very simple.

Buying home, advocates say, allows you to lock in a rate and build equity in a property that will theoretically appreciate. By comparison, forking over what could be a mortgage payment in the form of rent each month is akin to throwing money away.

It’s a line that Bernadette Joy, author of “Crush Your Money Goals,” has heard before. The self-made millionaire and financial coach gets pushback whenever she cautions against homeownership for homeownership’s sake.

“My favorite thing is to challenge people and say, ‘Show me your amortization table,’” she says. “Show me how much equity you’ve really built.”

Over the first several years of your mortgage, Joy points out, much of your payment goes toward interest rather than the principal. If you’re in a 30-year mortgage, she says, you may find yourself a half a decade in with little equity to show for it, which is why she typically recommends an alternative for clients.

“If you’re going to buy a home, buy it on a 15-year mortgage, because at least you’ll build equity much faster that way,” she says. “If you can’t afford a 15-year mortgage, you can’t really afford the home.”

If you’re currently renting and playing around with mortgage calculators, you may think you could own a home for roughly what you’re paying in rent — even if you’re factoring in some of the prominent costs of homeownership, such as property taxes and home insurance.

But homeownership comes with other hidden costs, Joy says. And going in unprepared could leave you in a precarious financial situation.

Help us help you: Take our survey on work, money and life goals

“I have very rarely come across a coaching client that said, ‘You know what, let me actually do the proper math of what I can truly afford on a mortgage,’” she says. “And so what I’m finding with that, is that most people are buying more house than they can actually, practically afford.”

Here are a few things to consider in your calculations.

A pricier mortgage

Joy prefers a 15-year mortgage because you can build equity faster, with more flexibility. Though you’ll eventually start paying down the principal on a 30-year mortgage, it’s a long time to wait, she says.

“How likely is it that you’ll see the [30-year] mortgage through to the bitter end, without selling or refinancing (and starting the clock all over again)?” she wrote in a recent article for Bankrate.

Of course, a shorter mortgage comes at a steeper price. Buy a $435,300 home — the median price according to the National Association of Realtors — with a 20% down payment, and you’re looking at a monthly payment of about $2,500 on a 30-year mortgage, according to Bankrate’s calculator. Bump the loan down to 15 years, and your bill rises to nearly $3,400 a month.

The cost of sizing up

No matter which kind of mortgage you choose, a new home is likely going to be a step up in space over what you were renting, says Joy — and that comes with an increase in costs. For one, you’ll have more rooms to furnish. And since you own the place, you’re probably not going to want to go cheap.

“When I sit down with clients, I say, let’s look at the cost of outfitting this home the way you want it to look,” she says. “People don’t want to furnish their new home with IKEA. They’re going to West Elm.”

Expect to pay more in utilities too, she says, since you have more space to heat and cool. And if you left your city apartment for the house out in the burbs, Joy recommends factoring a longer commute into your budget as well.

Maintenance and other headaches

“You have to budget a certain amount every year for repairs, because that’s just going to be the case,” Joy says.

Homeowners pay an average of $8,808 in annual maintenance costs, according to a recent Bankrate survey. If you don’t have the cash to pay for a fallen tree or a new washing machine or one of the million other things that could come up, you may find yourself making some tough decisions.

“What I see happen to a lot of my clients is, they buy the home and things are good until something breaks,” she says. “Then they get into credit card debt, or they are having to significantly sacrifice other places in their lifestyle in order to accommodate those things.”

Overall, Joy recommends a 50-25-25 approach to budgeting, with 50% of your income going toward living expenses, 25% going toward growing your wealth and the remainder on things you enjoy.

If, after accounting for all the costs, buying a home would put your living expenses over that 50% threshold “the math isn’t mathing,” Joy says.

And even if it is within your budget, make sure that you have enough for an emergency fund, too.

“If you’ve been someone who has not been able to maintain a level of three months’ worth of expenses sitting inside a high yield savings account,” Joy says, “then you’re not ready to buy a home.”

Want to stand out, grow your network, and get more job opportunities? Sign up for Smarter by CNBC Make It’s new online course, How to Build a Standout Personal Brand: Online, In Person, and At Work. Learn how to showcase your skills, build a stellar reputation, and create a digital presence that AI can’t replicate. Sign up today with coupon code EARLYBIRD for an introductory discount of 30% off the regular course price of $67 (plus tax). Offer valid July 22, 2025, through September 2, 2025.

Plus, sign up for CNBC Make It’s newsletter to get tips and tricks for success at work, with money and in life, and request to join our exclusive community on LinkedIn to connect with experts and peers.

Parents are constantly searching for ways to get their kids to listen. But a lot of us focus too much on trying to get them to obey in the moment, rather than building genuine long-term cooperation.

I’ve studied over 200 parent-child relationships, and I’m a mother myself. I’ve learned that kids listen best when they feel connected. A big part of that is emotional safety: knowing they are respected and have the freedom to express their feelings.

Here are six magic phrases that calm a child’s nervous system and make cooperation feel natural, which is the real secret to getting them to listen.

The moment kids feel doubted (“Did you really mean to do that?”), their defenses go up. They shift from connection into self-protection.

Belief defuses shame and creates safety. When a child feels safe, they can actually hear you.

Example:

Child: “I didn’t spill the juice on purpose!”

Parent: “I believe you. Let’s clean it up together.”

You’re addressing the behavior without getting into an argument.

The situation often turns into a standoff when there’s a parent just barking orders. But when kids help solve the problem, they’re more likely to stick to the solution.

Example:

Child refuses to clean up toys.

Parent: “I see you don’t want to clean everything now. Let’s figure this out together. What’s the first step?”

You’re still holding the boundary while preventing power struggles.

When kids are overwhelmed, they’re in survival mode and logic doesn’t land. Their nervous system is in fight-or-flight, and they need help regulating their emotions. This phrase validates their feelings and assures them they’re not alone, which helps them reset.

Example:

Preschooler has a meltdown when their tower of blocks fall. Instead of “Stop crying, you’re overreacting,” say: “You can feel this. I’m right here.”

You’re letting the wave of emotions pass until they’re ready to re-engage.

Before a child will listen to you, they need to feel heard. This simple shift of giving attention before demanding it dissolves resistance. When kids feel understood, they stop trying to push back.

Example:

Child: “I’m never playing with my brother again!”

Parent: “I’m listening. Tell me what’s going on.”

Now you’re uncovering the deeper hurt behind the anger, and that’s the part you can address to help repair both the relationship and the behavior.

Many meltdowns escalate because kids feel misunderstood or in conflict with the very person they need most. This phrase instantly shifts you from adversary to ally, lowering defenses and opening the door to problem-solving.

Example:

Child: “This homework is stupid! I’m not doing it.”

Parent: “I hear you. I’m on your side. Let’s find a way to make this easier.”

Knowing you’re there to help changes the tone entirely. They’ll be far more likely to meet you halfway.

Mistakes can trigger shame. But when kids hear this phrase, they learn that love isn’t conditional on performance or perfection.

Example:

Your child breaks a classmate’s project and calls you in tears.

Instead of lecturing, you say: “I’ve got you, no matter what. We’ll make it right together.”

That’s the difference between fear-based compliance and real accountability.  

I always tell parents that if their default is yelling or threatening, then no “magic phrase” will undo the deeper pattern. But when you regularly protect your child’s dignity, make them feel safe, and follow through on boundaries, listening becomes the natural outcome.

Reem Raouda is a leading voice in conscious parenting and the creator of FOUNDATIONS, a step-by-step guide that helps parents heal and become emotionally safe. She is widely recognized for her expertise in children’s emotional safety and for redefining what it means to raise emotionally healthy kids. Connect with her on Instagram.

Want to stand out, grow your network, and get more job opportunities? Sign up for Smarter by CNBC Make It’s new online course, How to Build a Standout Personal Brand: Online, In Person, and At Work. Learn how to showcase your skills, build a stellar reputation, and create a digital presence that AI can’t replicate. Sign up today with coupon code EARLYBIRD for an introductory discount of 30% off the regular course price of $67 (plus tax). Offer valid July 22, 2025, through September 2, 2025.

Plus, sign up for CNBC Make It’s newsletter to get tips and tricks for success at work, with money and in life, and request to join our exclusive community on LinkedIn to connect with experts and peers.

With no winner on Monday, Powerball’s jackpot has grown to $1.4 billion — the highest it’s been in more than a year.

Ahead of Wednesday evening’s drawing at 10:59 p.m. ET, the prize is now ranked as the fourth largest in the game’s history and the sixth-largest U.S. lottery jackpot ever, according to the Multi-State Lottery Association that runs the lottery.

Here’s a look at the 10 biggest Powerball jackpots of all time and where the winning ticket was purchased:

1. $2.04 billion — Nov. 7, 2022 (California)
2. $1.765 billion — Oct. 11, 2023 (California)
3. $1.586 billion — Jan. 13, 2016 (California, Florida, Tennessee)
4. $1.40 billion (estimated) — Sept. 3, 2025
5. $1.326 billion — April 6, 2024 (Oregon)
6. $1.08 billion — July 19, 2023 (California)
7. $842.4 million — Jan. 1, 2024 (Michigan)
8. $768.4 million — March 27, 2019 (Wisconsin)
9. $758.7 million — Aug. 23, 2017 (Massachusetts)
10. $754.6 million — Feb. 6, 2023 (Washington)

If no ticket matches all six numbers, the jackpot will roll over and grow based on ticket sales. The next drawing would then offer a prize even larger than the current $1.4 billion, potentially setting a new record as the third biggest in Powerball history.

If you’re lucky enough to win the jackpot prize, you’ll have a choice between the full $1.4 billion annuity, paid out over 30 years, or the lump-sum cash option of $634.3 million.

Winnings are taxed by the federal government and by most states, so the actual take-home will be less than the listed prize amounts.

Financial experts often recommend taking a few practical steps before rushing to claim a life-changing prize:

1. Secure the ticket. Sign the back of the ticket and keep it in a safe location, such as a home safe or bank deposit box. Some experts also suggest making a copy or taking a photo for your records.
2. Keep it quiet. Avoid publicizing the win until after the claim is official. Announcing it too soon can invite scammers or unwanted attention.
3. Assemble a team. A lawyer, financial advisor and tax professional can help with the complex decisions around claiming and managing such a large amount of money.
4. Plan for the long term. A financial planner can help you decide whether the annuity or lump sum better suits your financial goals and tolerance for risk, as there are pros and cons to both options.

Powerball tickets are sold in 45 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. The odds of winning the jackpot are about 1 in 292.2 million, though the odds of winning any prize are 1 in 24.9, according to the lottery.

Want to stand out, grow your network, and get more job opportunities? Sign up for Smarter by CNBC Make It’s new online course, How to Build a Standout Personal Brand: Online, In Person, and At Work. Learn how to showcase your skills, build a stellar reputation, and create a digital presence that AI can’t replicate. Sign up today.

Plus, sign up for CNBC Make It’s newsletter to get tips and tricks for success at work, with money and in life, and request to join our exclusive community on LinkedIn to connect with experts and peers.

Most of us never got a formal lesson in how learning works, but we picked up messages about what counts as “smart,” what’s worth knowing, and how we’re supposed to learn. 

But there’s a catch to an education built around knowing the right answers: Life doesn’t always come with a clear solution. And when uncertainty shows up, too many kids freeze. 

Over the past 15 years as a business school professor, I’ve studied how successful people navigate complex problems when there isn’t a step-by-step guide. What I’ve learned is that the ability to move forward wisely when you don’t know the answer is a very valuable skill — and one we should teach our kids as early as possible.

Every summer for the last 12 years, when we go to the beach, I create a themed puzzle hunt for my daughters, niece, and nephew. 

You must try several things out to find the non-obvious insight and solve the puzzle. Think Escape Room meets Treasure Hunt. There are few directions, so there is a lot of uncertainty and confusion. 

For example, one puzzle might just be a bag of jellybeans, and the kids must figure out how that is a clue that would lead to something else. They might try counting the total number of jellybeans and notice that there are different numbers of different colors. Maybe there are two purples, four blues, three yellows, one green, and so on.

Then they might try to take the second letter of the word “purple” and the fourth letter of the word “blue,” which might uncover a string of letters to unscramble, leading them to look for the next clue.

When they were younger, they’d get frustrated fast: “We’re stuck! Just tell us the answer.” Then they’d eat the jellybeans and call it a day. Now, they stay curious and experiment.

More importantly, they’re learning that being smart isn’t about always having the answer. It’s about staying with the problem, trying different approaches, learning from what doesn’t work, and collaborating with others along the way. That’s the kind of thinking that builds resilience, and it’s exactly what kids will need to tackle life’s big challenges. 

If you want your kids to be comfortable with uncertainty, you must model it yourself: 

1. Don’t dismiss doubt. Let your kids know that it’s okay to not know the answer right away and feel two different ways about something. Praise when they spend effort to figure something out. Doubt is a sign that they are facing something meaningful and need to learn. 
2. Help them generate ideas, not just answers. It’s tempting to want to solve problems for your kids, but when we step in too soon, we rob them of the chance to build critical skills. Support them by asking questions about what they could try and what might happen. 
3. Model doubt and decision-making. Don’t hide difficult choices of your own. If they are appropriate to share, walk through your thought process with your kids, show them what you’re doing to learn, and demonstrate curiosity instead of panic.  
4. Make time for play at any age. Creative expression and imagination are essential training grounds for navigating doubt. Activities like music, visual art, or theater give children a space to express themselves and learn about the effects of their choices in a safe environment. 
5. Build healthy habits. A tired brain is a reactive brain. Sleep, nutrition, movement, and strong relationships make it easier to stay calm and think clearly in uncertain situations.

A summer puzzle hunt won’t fix everything. But every time my kids move from “We give up!” to “Let’s try something else,” they’re building mental muscle. Every time they see me navigate uncertainty without falling apart, they’re becoming more resilient by learning how to do it themselves.

Bidhan Parmar, PhD, MBA, is the Shannon G. Smith Bicentennial Professor of Business Administration and Associate Dean for Faculty Development at the Darden School of Business at the University of Virginia. He is a former fellow at the Safra Center for Ethics at Harvard University and was named one of the top 40 business school professors under 40 in the world. Dr. Parmar is the author of ”Radical Doubt: Turning Uncertainty into Surefire Success.”

Adapted excerpt from Radical Doubt by BIDHAN L. PARMAR, available now wherever books are sold. Copyright © 2025 BIDHAN L. PARMAR. Printed with permission of the publisher, Diversion Books. All rights reserved.

Want to stand out, grow your network, and get more job opportunities? Sign up for Smarter by CNBC Make It’s new online course, How to Build a Standout Personal Brand: Online, In Person, and At Work. Learn how to showcase your skills, build a stellar reputation, and create a digital presence that AI can’t replicate. Sign up today with coupon code EARLYBIRD for an introductory discount of 30% off the regular course price of $67 (plus tax). Offer valid July 22, 2025, through September 2, 2025.

Plus, sign up for CNBC Make It’s newsletter to get tips and tricks for success at work, with money and in life, and request to join our exclusive community on LinkedIn to connect with experts and peers.