The UBS 2024 Global Wealth Report predicts a continued increase in the number of global millionaires over the next five years. This growth is expected across 52 out of 56 economies, spanning both developed and developing nations. Leading this surge is Taiwan, with a projected 47% rise in millionaires fueled by the flourishing microchip industry
Art
One popular method for reducing future tax liabilities on pretax retirement account withdrawals is through Roth individual retirement account (IRA) conversions. This process involves transferring pretax or nondeductible IRA funds into a Roth IRA, which allows for tax-free growth in the future. While this can result in immediate income taxes on the converted balance, financial
Athletic Brewing Company, a leading nonalcoholic brewer, has recently announced the successful completion of an equity financing round led by General Atlantic, raising an additional $50 million. This investment is expected to propel the company’s growth and expand its reach in response to the increasing demand for nonalcoholic beer among consumers. Athletic Brewing Company plans
The housing market is currently experiencing a strange phenomenon – while there is a rise in the inventory of newly built homes, there is still a shortage of existing homes. This is unusual because typically, home prices tend to cool off when the supply is high. However, this is not the case in the current
BP shares took a hit on Tuesday as the company disclosed its expectation to incur an impairment of up to $2 billion in the second quarter. Additionally, it warned investors about lower refining margins that could further weigh on its financial results. This news caused a 2.6% drop in BP shares during early market trading,
Recent speculations suggest that there is a 40% chance that President Joe Biden will not seek reelection, according to Stifel. Brian Gardner, the firm’s chief Washington policy strategist, believes that this week is crucial for the president’s campaign as Congress resumes session after the Fourth of July recess. Gardner expressed his thoughts on CNBC’s “Fast
The San Francisco real estate market has been facing significant challenges in recent times, with the vacancy rate for office space reaching a record high of 34.5% in the second quarter. This is a substantial increase from 33.9% in the first quarter, 28.1% in the same period a year ago, and a mere 5% before
As you progress through your career and approach retirement, it is essential to have a clear understanding of where you are investing your money. Experts emphasize the importance of knowing how different accounts can impact your future tax obligations. Many individuals tend to have a heavy concentration of funds in tax-deferred accounts, such as pretax
Boeing recently made headlines for agreeing to plead guilty to criminal fraud related to the fatal 737 Max crashes. This decision has branded the U.S. aerospace giant as a felon, but it allows them to avoid trial while they attempt to move past safety and manufacturing crises. The plea deal involves a significant fine of
The recent news of Paramount Global agreeing to merge with Skydance marks a significant shift in the entertainment industry. After a monthslong negotiation process filled with twists and turns, the Redstone family will be stepping away from control of the storied movie studio and media company. This decision comes after Paramount’s special committee approved the