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Economy

“World’s richest have never been so wealthy: study”

“The world has never had so many rich people and their investments in soaring stock markets have made them wealthier than ever recorded, according to a study published on Wednesday. The number of “high net worth individuals” (HNWI) — defined… Continue Reading…

Economy

“Record numbers of wealthy Americans are looking for ways to live overseas”

“…An investment-migration consultancy says that it’s seeing record numbers of wealthy Americans looking for ways to get residence rights abroad or additional citizenships. Mehdi Kadiri, the head of North America at Henley & Partners, said in the company’s 2024 USA Wealth… Continue Reading…

Economy

“Wealthy Californians are ditching the state for the ‘Beverly Hills of Arizona'”

“… …” https://www.msn.com/en-us/news/us/wealthy-californians-are-ditching-the-state-for-the-beverly-hills-of-arizona/ar-BB1idjMF Isn’t it interesting that every time people leave a blue state its to a red state? Maybe its not the state that’s the problem. It’s the policies of said state.

Banking

“Why wealthy customers are the ‘most worrisome’ for banks right now”

“Money-market fund assets reached a new all-time high this week as interest rates above 5% continue to attract investors at a time when the Federal Reserve appears determined to keep rates elevated for some time… Since the beginning of January deposits at… Continue Reading…

Banking

“Credit Suisse whistleblowers say Swiss bank has been helping wealthy Americans dodge U.S. taxes for years”

“Credit Suisse, the collapsed Swiss bank taken over by UBS Group in a hastily arranged bailout earlier this month, may bring with it a fresh set of regulatory and legal problems for its new owner. For years, the bank has… Continue Reading…

Personal Finance

“Here’s how America’s millionaires are positioning themselves for a recession ⁠— if you’re doing something different, you might want to think twice”

“…1. Mostly nothing — for now Sometimes the hardest thing to do is nothing. But when the market bottoms out, knee-jerk reactions like immediately selling off investments are often the worst thing you can do… 2. Mixing it up when… 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, Real Estate

“Trump Tax Reform Hits Home in Wealthy New York Suburbs”

“…Nearly 11 million taxpayers will be affected by the new cap on so-called SALT deductions on the taxes they file this year, and could lose out on a cumulative $323 billion, according to a February estimate from the U.S. Treasury… Continue Reading…