In the next two to three decades, it is estimated that aging baby boomers and older generations will pass down a staggering $84 trillion in wealth to charity and family members. This phenomenon, termed the “horizontal wealth transfer,” is set to redistribute up to $9 trillion between spouses and partners. The UBS Global Wealth Report
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The National Football League is exploring the possibility of including minority private equity ownership for its 32 teams, with a proposed cap of 10% ownership. This potential change could have widespread implications for team ownership and the financial landscape of the league. Commissioner Roger Goodell recently discussed this consideration in an exclusive interview with CNBC,
The record summer air travel demand in the U.S. is not translating into record profits for airlines. Despite the forecast of record demand and revenue, higher labor and operational costs have eaten into the bottom lines of carriers. Some airlines have slowed down or even halted hiring due to slower demand growth and other challenges,
The market for initial public offerings in Hong Kong is poised for a significant upswing over the next five years, a global IPO leader at EY predicts. Despite facing challenges such as high U.S. interest rates, regulatory scrutiny, slower economic growth, and U.S.-China tensions in recent years, there is optimism about a resurgence starting in
When it comes to retirement planning, taxes are often overlooked until it’s time to start withdrawing funds from pretax accounts. Many retirees fail to consider the impact of taxes on their retirement savings, which can result in significant financial losses. According to a study conducted by Northwestern Mutual, only 3 in 10 Americans have a
With the median IRA or self-employed Keogh balance rising to $87,000 in 2022, retirees are facing potential tax issues as their retirement savings grow. While it is generally positive to see larger balances in retirement accounts, the increase in pretax IRA balance has the potential to create a tax nightmare for retirees. Certified financial planner
As college applicants navigate through the challenging process of choosing a school in 2024, one overwhelming factor appears to be at the forefront of their decision-making process: financial aid. While financial aid has always played a significant role in determining where students choose to attend college, the ongoing issues with the new federal financial-aid application
The U.S. Department of the Treasury and IRS recently announced final tax reporting rules for digital asset brokers, which are set to have a significant impact on crypto investors. These regulations will introduce mandatory yearly reporting beginning in 2026, with digital currency brokers required to cover gross proceeds from sales in the previous year. The
Millennials are said to be on the brink of becoming the wealthiest generation in history, with estimates indicating a whopping $90 trillion wealth transfer within the next two decades. As older generations, such as the silent generation and baby boomers, start passing on their assets to millennials, it begs the question of whether this younger
The summer vacation season can be an exciting time for many, but it can also be a period where financial stress looms. According to a recent survey conducted by Bankrate, a surprising 36% of Americans have admitted that they plan to take on debt in order to travel during the summer months. This can lead