It would be natural to expect someone who earns a high salary to be socking more money away than a lower-earning employee.» Read more
There are two rules about building wealth the rich generally never forget. The first is to always take advantage of “found money.”» Read more
More than half of working Americans (57 percent) with between $50,000 and $250,000 in investable assets, defined as the mass affluent, say they will retire later than planned. That’s an increase of 36 percent from those who said the same thing a year ago. A survey by Bank of America shows that despite more effort» Read more
They used to be called “nerds” or “computer geeks,” but now you can call them multibillionaires.» Read more
It may be a little late for some, but the No. 1 way for the average person to retire rich is to become a hoarder while you’re young.» Read more
Presidential candidate Mitt Romney is finding himself in an awkward spot: He’s defending his net worth and at the same time trying to keep it private.» Read more
As China’s economy booms, its leaders are looking to the U.S. for guidance on both corporate and individual philanthropy.» Read more
If you could experience life as a billionaire for one day, what would you most look forward to: the VIP treatment, the opportunity to spend as much as you want on luxury, or would you seek opportunities to help others and make a difference?
From the Occupy Wall Street movement to reality TV to Bloomberg’s daily ranking of billionaires, fascination with the uber-rich has only increased, even as the effects of the Great Recession are still being felt.
So with a desire to “walk a mile in their Ferragamo loafers,” New York Times reporter Kevin Roose wondered what it would be like to be a billionaire for a day.» Read more
Predicting a rise in inflation or a drop in the stock market at some point in the future reminds me of the saying, “Nobody gets out of life alive.” The inevitability simply reinforces the fact that there is no avoidance; we can only prepare and plan.
This week on CNBC, Marc Faber lived up to his nickname, “Dr. Doom,” by predicting a catastrophic investment loss for investors, particularly the wealthy.
Faber, editor of the “Gloom, Boom & Doom Report,” says within the next few years, high inflation will wipe out up to half the wealth of the affluent because the government has been printing money in response to its inability to control debt.» Read more
You wouldn’t want to put this baseball card in your bicycle spokes: A 1909 card of Pittsburgh Pirates shortstop Honus Wagner, whose nickname was “The Flying Dutchman,” will probably sell at auction for between $1.2 million and $1.5 million. The card is owned by a Texas businessman who wishes to remain anonymous.
In his 21-year career with the Pirates, Wagner hit a career batting average of .327 and was known as one of the greatest players of the time. If you’re thinking anyone would be crazy to buy a baseball card for $1 million plus, it’s actually less than half the price of another Wagner baseball card.» Read more