Wealth
There’s a growing interest in direct indexing as the investing trend becomes ‘democratized’
As demand grows for specialized portfolios, a trend known as direct indexing is quickly becoming an option for more investors. Rather than owning a mutual or exchange-traded fund, direct indexing is buying the stocks of an index to achieve goals like tax efficiency, diversification or values-based investing. Traditionally used by institutional and high-net worth investors, […]
Read More
EssilorLuxottica Chairman Leonardo del Vecchio dies at 87, local media reports
Leonardo Del Vecchio Marka/Universal Images Group via Getty Images Leonardo del Vecchio, the chairman of spectacles maker EssilorLuxottica and one of Italy’s wealthiest business figures, has died aged 87, Italian media reported on Monday. There was no immediate comment from his company but a source confirmed the reports. Del Vecchio rose from a childhood in […]
Read More
Women prefer values-based investing. Here’s what that might mean for their wealth
Mint Images | Mint Images Rf | Getty Images Women prefer investing in a way that helps the environment and does social good, some studies have found. Such values-based investing could help raise women’s general enthusiasm for investing and boost long-term wealth, according to financial experts. About 52% of women would rather invest in […]
Read More
Tax return backlog is still ‘crushing the IRS’ — and taxpayers — as pileup exceeds 21 million, agency watchdog reports
IRS Commissioner Chuck Rettig testifies before the Senate Finance Committee on April 7, 2022. Kevin Dietsch | Getty Images News | Getty Images The IRS backlog of tax returns has swelled over the past year, despite efforts to clear the pileup, according to an agency watchdog. There were 21.3 million unprocessed paper returns as of […]
Read More
Tourists are flocking back to Southeast Asia — but the robust recovery is showing signs of cracks
After more than two years of lockdowns and border controls, Southeast Asia is finally experiencing some semblance of the old days of travel. Flights are steadily returning to 2019 levels in the region’s major economies, with Singapore, Thailand and Malaysia being the most popular destinations this year, according to the flight data analytics firm Cirium. […]
Read More
Fraud trial against Elizabeth Holmes’ partner at Theranos nears end
SAN JOSE, Calif. — In a harshly worded closing argument, prosecutors on Tuesday said former Theranos COO Ramesh “Sunny” Balwani “wasn’t a victim, he was the perpetrator of fraud” in the company’s downfall, while his attorney blasted the government’s case calling it inconsistent. The closing statements capped a three-month-long trial where the government alleged Balwani […]
Read More
Tax pros ‘very skeptical’ about expanded IRS voice bots for payments plans
Westend61 | Westend61 | Getty Images If you get a tax bill and want help from the IRS to set up a payment plan, newly expanded voice bots may make for faster phone service, according to the agency. But some tax professionals are doubtful about the new plan to reduce wait times. Artificial intelligence-driven IRS […]
Read More
Estate planning 101: the do’s and don’ts, what to expect to pay and what your options are
Jodi Jacobson | Getty Images You don’t have to be older and rich to do some estate planning. In fact, regardless of age and wealth, experts say virtually everyone should consider how they want their assets distributed upon their death and what decisions will be made by whom if they are unable to make those […]
Read More
Many younger baby boomers may outlive their 401(k) savings, new research finds. Here’s why
Elena Kurkutova | Istock | Getty Images Older Americans may have a number of different goals with their retirement savings. But usually their main goal is the same: to make it last. Unfortunately, many younger baby boomers and members of subsequent generations who don’t have access to a traditional pension could outlive the funds in […]
Read More
One key problem has 1 in 4 expats ‘seriously considering’ or ‘planning’ to renounce U.S. citizenship
Valentyn Semenov / Eyeem | Eyeem | Getty Images While many filers dread tax season, Americans living abroad face even bigger yearly burdens — and those are frustrating enough that some want to ditch their U.S. citizenship. Roughly 1 in 4 American expatriates is “seriously considering” or “planning” to renounce their U.S. citizenship, according to […]
Read More