Wealth
If you win the $630 million Mega Millions jackpot, here’s how much would go to taxes
MARK RALSTON | AFP | Getty Images So you didn’t win the $555 million Mega Millions jackpot Tuesday night. The glass half-full view? Phew! You dodged a huge tax bill. Of course, you get another shot in the next drawing to land a windfall — and then give a boatload of it to Uncle Sam. […]
Read More
Investors have put $43 billion in dividend-paying funds this year. Before you ‘chase dividends,’ here’s what to know
With increased fears of a possible recession, investors seeking steady income may turn to stocks paying quarterly dividends, which are part of company profits sent back to investors. Historically, dividends have significantly contributed to an asset’s total return, sometimes providing a boost during economic downturns. From 1973 to 2021, companies paying dividends earned a 9.6% […]
Read More
A can of Coca-Cola for $13? Prices are rising on one of Europe’s most popular islands
A seaside restaurant charges 30 euros ($30) for a burger. A large sunbed at an upscale beach club can cost 500 euros in August. And a table at a “VIP” nightclub can run into the thousands. Though Spain is generally considered a reasonably priced travel destination, the Spanish island of Ibiza has long been known […]
Read More
Vegas home builder bets $32.5 million spec mansion will smash a local record in Southern California
Blue Heron’s cliffside spec house spans three levels in San Diego’s La Jolla neighborhood. Blue Heron This newly built cliff-side mansion overlooking the Pacific Ocean in Southern California comes with an ambitious $32.5 million asking price. It’s one of the most expensive homes for sale in San Diego County, and that price tag puts it […]
Read More
Lawmaker urges Yellen, Treasury Department to remove ‘red tape’ for Series I bonds
As the cost of living soars, one federal lawmaker wants to remove any barriers to buying Series I bonds, an inflation-protected and nearly risk-free asset that currently pays 9.62% annual interest through October. Rep. Abigail Spanberger, D-Va., on Thursday sent a letter to Treasury Secretary Janet Yellen, voicing concerns about the difficulties of buying I bonds […]
Read More
Average rent in Manhattan was a record $5,000 last month
A Chelsea Tower rental apartments billboard. Jeff Greenberg | Getty Images The average monthly rent for a Manhattan apartment surpassed $5,000 for the first time — and brokers say demand and prices are headed even higher into the fall. The average apartment rent in June was $5,058, the highest on record, according to a report […]
Read More
Inflation is still soaring — but here’s why it’s less likely to hurt some retirees
Inflation has continued to rise, but some retirees won’t feel the brunt of many soaring costs, experts say. Annual inflation jumped by 9.1% in June, growing at the fastest pace since late 1981, the U.S. Department of Labor reported Wednesday. Higher prices have many worried, even those earning six figures. Some 65% of Americans making […]
Read More
These 10 U.S. real estate markets are cooling the fastest: Here’s what to know if you’re a prospective buyer
David Ryder | Getty Images After staggering growth during the pandemic, the U.S. housing market is starting to cool — and it’s happening fastest along the West Coast. The quickest-cooling real estate market is San Jose, California, according to a new Redfin analysis, which ranked U.S. metropolitan markets based on median sales prices, year-over-year inventory […]
Read More
Op-ed: The toughest challenges for cryptocurrency lie ahead, not in the rear-view mirror
More than a third of millennials and half of Generation Z would be happy to receive 50% of their salary in cryptocurrencies, revealed a study. Srdjanpav | E+ | Getty Images With more than $1 trillion in cryptocurrency value wiped out since the 2021 high-water mark, many investors may be tempted to enter the cryptocurrency […]
Read More
Family offices have become a $6 trillion powerhouse in investing—and deal-making
The post-pandemic wealth boom has sparked an explosion in family offices, creating a new gold rush among Wall Street firms, private equity funds and investment advisors to manage the fortunes of the world’s richest families. Family offices now manage more than $6 trillion in wealth, according to some estimates, surpassing the estimated $4 trillion managed […]
Read More