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Personal Finance

“The Hidden Ways the Ultrarich Pass Wealth to Their Heirs Tax-Free”

“…Officially, gifts are taxable: If you send someone more than $15,000 per year, you’re supposed to file a separate gift tax return, with the total counting toward your $11.7 million lifetime estate-and-gift-tax exemption. (Double that for married couples.) Once you… Continue Reading…

Business, Investing

“Where Do Millionaires Keep Their Money?”

“Where do millionaires keep their money? High net worth individuals put money into different classifications of financial and real assets, including stocks, mutual funds, retirement accounts and real estate. Most of the 20.27 million millionaires in the U.S. did not inherit their… Continue Reading…

Economy

“Sales of Bentleys and Lamborghinis are booming because rich people are bored”

“While auto sales as a whole have suffered from factory shutdowns and other disruptions due to the pandemic, sales of super-expensive cars, like Ferraris, Bentleys and Lamborghinis, finished 2020 at a blistering pace.In the United States, overall passenger car sales… Continue Reading…

Economy

“World’s richest 2,000 people hold more than poorest 4.6 billion combined: Oxfam”

“The world’s richest 2,153 people controlled more money than the poorest 4.6 billion combined in 2019, while unpaid or underpaid work by women and girls adds three times more to the global economy each year than the technology industry, Oxfam… Continue Reading…

Investing, Stocks

“Wealthy investors see nothing that will stop this relentless bull market”

“…“Investors are more open to risk taking at this point,” said Mike Loewengart, vice president of investment strategy at E-Trade. “If the environment is encouraging and conducive to additional gains, they want to be part of it.” Twenty-nine percent of… Continue Reading…

Economy

“The world’s super-rich are hoarding physical gold”

“Over the last year, gold prices are up nearly 20%. The yellow metal is on pace for its best year since 2010. In a note to clients published over the weekend, analysts at Goldman Sachs outlined why the strategic case for… Continue Reading…

Economy

“…World’s Richest Gain $1.2 Trillion”

“…the richer they were at the start of the year, the richer they got. The world’s 500 wealthiest people tracked by the Bloomberg Billionaires Index added $1.2 trillion, boosting their collective net worth 25% to $5.9 trillion… Leading the 2019… Continue Reading…

Economy, Real Estate, Stocks

“The superrich are selling stocks, buying properties and keeping cash ready”

“In the first quarter, Tiger 21, a coalition of 750 members worth in excess of $75 billion, raised cash to levels not seen since 2013. Not much changed in the second quarter in terms of keeping powder dry. The group’s… Continue Reading…

Economy

“The richest 10% of households now represent 70% of all U.S. wealth”

“Deutsche Bank’s Torsten Sløk says that the distribution of household wealth in America has become even more disproportionate over the past decade, with the richest 10% of U.S. households representing 70% of all U.S. wealth in 2018, compared with 60%… Continue Reading…

Investing, Personal Finance

“Do you manage your money like a millionaire?”

“Millionaires take advantage of tax laws… Millionaires live below their means…Millionaires love reading and research…Millionaires get help with their money…Millionaires understand that credit and debt is a tool to be used sparingly…”