Wealth
Here are 4 key things to consider if you actually hit the $1.1 billion Mega Millions jackpot
1. Breathe Instead of impulsively rushing to lottery headquarters to claim your prize, take a deep breath. You have some time to claim your prize — anywhere from three months to a year, depending on where you bought the ticket. “Take a pause before you make any big decisions,” Irwin said. “This is the quiet […]
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New Zealand had one of the world’s strictest Covid lockdowns. Now its borders are fully reopening
After more than two years, New Zealand is fully reopening its borders and welcoming back all international travelers. The country is reopening on July 31, some three months earlier than previously announced. Earlier this year, New Zealand’s borders were opened to Australians and citizens of 60 places that do not need visas to enter, including […]
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Here’s how advisors are shifting clients’ portfolios as the Federal Reserve again hikes rates by 75 basis points
The Good Brigade | DigitalVision | Getty Images Here’s how portfolio allocations have shifted “We’re attempting to address both inflation and recession concerns,” said certified financial planner John Middleton, owner of Brighton Financial Planning in Flemington, New Jersey. For stock allocations, he likes companies paying a high dividend, and value stocks, which typically trade for […]
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The Mega Millions jackpot has now surged to $1.02 billion. Here’s the tax bill if you win
MARK RALSTON | AFP | Getty Images One way to reduce your tax bill is to think charitably, according to the American Institute of CPAs: You can contribute cash, up to 60% of your adjusted gross income, to a public charity or a donor-advised fund and get a tax deduction for the amount in the […]
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Top Federal Reserve officials say they misread inflation and now plan to correct the course
Top officials at the Federal Reserve were seeing inflation data come in very hot for months before policymakers moved to wind down monetary policies that were stimulating the economy. A chorus of analysts, economists and former policymakers have chimed in, saying that was a mistake. “The forward guidance, overall, slowed the response to the Fed […]
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These are the cheapest — and most expensive — cities in Europe to visit this year
It may seem paradoxical, but a trip to Europe may be a way to save money on travel this year. Amid a global scramble to find ways to save money while traveling, hotel rates dropped in many European cities. Average airfares originating from the United States are also down, according to travel specialists. Another boon […]
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The Mega Millions jackpot is now $790 million. Here’s how much would go to taxes if there’s a winner
Scott Olson | Getty Images If you manage to beat the odds and land the next Mega Millions jackpot, don’t forget that Uncle Sam will snatch a slice of the windfall. The top prize has surged to $790 million for Tuesday night’s drawing after no ticket matched all six numbers pulled Friday night. If won […]
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More advisors turn to alternative investments to further diversify their clients in volatile market
Marko Geber | DigitalVision | Getty Images After battling downturns in the stock and bond markets, more financial advisors looking to further diversify their clients are turning to alternative investments, according to a recent survey from Cerulli Associates. Falling outside of traditional asset classes, alternative investments are typically added to portfolios for more diversification, income and the […]
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The wealthy now have more time to avoid estate taxes, thanks to an IRS change
If your family has significant wealth, it’s now easier to avoid federal estate taxes, thanks to recent changes from the IRS. The IRS improved a strategy known as “portability,” used by high-net-worth married couples expecting to owe federal estate taxes when the second spouse dies. Here’s how it works: While a spouse may inherit all […]
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Top travel tips: 5 ways to save money on flights and hotels as prices rise
1. Finding cheaper flights Those who are strategic about saving spend 23% less on flights than those who aren’t, according to a survey of budget travelers by the booking site VacationRenter. Top strategies include booking with a budget carrier (52%), sticking to one carry-on bag (48%), using credit card points or rewards (39%) and tracking […]
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