Wealth Blog

Sunday, December 18, 2011 2:00 am
By Judy Martel · Bankrate.com

Just because the rich and famous can afford the best legal representation for their estate, doesn’t mean they don’t make mistakes — sometimes enormous errors that not only greatly diminish the value of their assets through legal fees, but tarnish the image of the family whose founder worked so hard to earn the fortune. Too

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Wednesday, December 14, 2011 6:41 am
By Judy Martel · Bankrate.com

One of the fastest-growing segments of the retail industry is on track to have a prosperous holiday season, especially since stores have begun leasing space in more upscale neighborhoods. Consignment and thrift stores that sell used merchandise have proven alluring to those looking to cut back on price but not quality. According to U.S. Census

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Sunday, December 11, 2011 10:41 am
By Judy Martel · Bankrate.com

Giving with no strings attached and no expectation of acknowledgement has to be the sweetest form of charity. And when times are hard, many donors find that giving directly to a person who doesn’t anticipate it provides even more gratification. Three Michigan shoppers were surprised to find that their Kmart layaway bills had been nearly

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Wednesday, December 7, 2011 3:51 am
By Judy Martel · Bankrate.com

Given that most lottery winners lose it all within three years, it’s notable to take a closer look at how the three Connecticut money managers are handling their $254 million Powerball win. The partners in a wealth management company, Greg Skidmore, Tim Davidson and Brandon Lacoff, opted for the lump sum of $103.5 million instead of

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Sunday, December 4, 2011 2:01 pm
By Judy Martel · Bankrate.com

Discussing money used to be one of the taboo topics of polite society, along with religion and politics. Unfortunately, many wealthy parents won’t even discuss money with their kids, leaving them ill-equipped to handle finances and the emotions that often come with inheriting wealth. One survey, by SEI Private Wealth Management, showed that about a

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Tuesday, November 29, 2011 5:13 pm
By Judy Martel · Bankrate.com

Investor fear has driven down stock prices on even the best-quality equities, which makes for a great opportunity for iron-stomached, sophisticated investors to buy. Yet watching the news for even one day could give investors plenty to worry about globally, and I haven’t talked to a single seasoned investment professional who hasn’t told me that

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Sunday, November 27, 2011 10:28 am
By Judy Martel · Bankrate.com

The predictions for holiday spending among the wealthy are out, and you know how it goes with the best intentions. The rich might be saying one thing while doing another. The Neiman Marcus annual Christmas Book aside, a retail study by GfK MRI Focus says baby-boomer millionaires are not into making impressions and that they

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Tuesday, November 22, 2011 5:50 pm
By Judy Martel · Bankrate.com

What’s money for if not to buy luxury? In the heart of Manhattan, that often means a private, secure and convenient place to park the Bentley. A new, 19-story, 14-unit condo in the Chelsea neighborhood has a unique concept to appeal to those who want their parking situation to match their high-priced dwellings: en suite

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Sunday, November 20, 2011 11:29 am
By Judy Martel · Bankrate.com

If you think the rich should pay more in taxes, you’re not alone. Supporters come from among the millionaire ranks themselves. In the wake of billionaire Warren Buffett’s written plea in the New York Times calling for Congress to impose more taxes on the super-wealthy, two dozen millionaires went to Capitol Hill to make their

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Tuesday, November 15, 2011 4:51 pm
By Judy Martel · Bankrate.com

Being a millionaire ain’t what it used to be. Nearly 800 wealthy individuals worldwide surveyed by Barclays Wealth say it takes a minimum of $10 million in liquid assets to define a person as wealthy. The fact that the definition specifies liquid wealth is important. As many of the superwealthy discovered during the recession, wealth

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