Wealth

When it comes to who should feel in charge of their own money, Beyonce said it best: “All the single ladies, now put your hands up.” Nearly all single women — 97 percent — said it’s important to be engaged in managing their finances, according to a new Fidelity Investments study, “Single Women & Money.”
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The possibility of the GOP tax cut plan actually increasing taxes would only impact “a few people at the very top,” said Kevin Hassett, economic advisor to President Donald Trump. “They’ve got plenty of resources,” said the Council of Economic Advisors chairman, referring to people who make more than $1 million in high-tax states, such
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Some dealers say the buyer is likely an American, since there is only one da Vinci in the U.S. — currently at the National Gallery in Washington — and it would make sense for a billionaire to buy it and donate it to a museum in New York or L.A. Others say the price suggests
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When it comes to the much-ballyhooed business of disruption, if you can’t beat them, join them — and do a little disrupting of your own. That was the message to financial advisors unsettled by the rise of robo-advisors and other industry disruptors from speaker and writer Julie Littlechild, speaking at Charles Schwab’s IMPACT 2017 confab
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The wealthiest 1 percent of the world’s population now owns more than half of the world’s wealth, according to a new report. The total wealth in the world grew by 6 percent over the past 12 months to $280 trillion, marking the fastest wealth creation since 2012, according to the Credit Suisse report. More than
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A ring featuring an extremely rare 37.30-carat pink diamond is hitting the auction block Wednesday. “The Raj Pink” is the world’s largest known fancy intense pink diamond. “Color diamonds are exponentially rarer than white stones,” said Sotheby’s international jewelry specialist Brett O’Connor. “The stone is … right up at the very top. It has size,
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When Thomas Gallagher was 17, he worked as a clerk on the floor of the New York Stock Exchange and put $10 a week into an account at Irving Bank. “That was my discipline, my savings,” Mr. Gallagher said. “Back then, the goal was to have enough money to buy Christmas presents.” Mr. Gallagher, who
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Getty Images House Way and Means Chairman Kevin Brady (L) (R-TX) and Speaker of the House Paul Ryan (R) (R-WI), joined by members of the House Republican leadership, introduce tax reform legislation November 2, 2017 in Washington, DC. The GOP’s tax plan contains a little-noticed tax hike on big earners that could add another $12,000
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Under the new proposal, coined the Tax Cuts and Jobs Act, the estate tax exemption will double and then be repealed as of 2024. In addition, there would continue to be a “step-up in basis,” which means if you inherit shares of stock, for example, and turn around and sell those shares, you wouldn’t pay
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Lucy Nicholson | Reuters Ken Griffin, founder and Chief Executive Officer of Citadel, speaks during the Milken Institute Global Conference in Beverly Hills, California, May 1, 2017. Billionaire businessman Ken Griffin is donating $125 million to the University of Chicago’s Department of Economics. The university announced Griffin’s gift Wednesday, saying it’s the second-largest in school
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EVERSOFINE | Getty Images Many of life’s downturns can be weathered if you’ve already managed to build yourself a strong financial foundation. I’ve seen many families lose everything because they didn’t have enough life insurance. I often hear about people who use their retirement investments to pay for unexpected expenses. I’ve talked with families stuck
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There are an estimated 11.2 million widowed individuals across the nation, according to the U.S. census, most of them women. Those who are affluent often initially face one of two financial challenges: having too little cash or too much. The most common issue in having too little cash is lack of immediate access. Perhaps most
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The consultancy group foresees retail funds, including exchange-traded funds (ETFs), to almost double by 2025 and growing investments in alternative areas, such as real estate and land, private equity and private debt. Asset managers will also be overseeing greater global retirement and pension funds, PwC said. Despite the optimistic future for wealth managers, PWC suggested
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