Wealth Blog

Sunday, October 9, 2011 9:31 am
By Judy Martel · Bankrate.com

In an effort to cover the cost of his $447 billion jobs plan, President Barack Obama and the Democrats have proposed a 5.6 percent surtax on individuals who earn more than $1 million a year. “It is time for millionaires and billionaires to pay their fair share to help this country thrive,” said Senate Majority

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Tuesday, October 4, 2011 4:14 pm
By Judy Martel · Bankrate.com

If you want to know where wealth is expanding, look to the Far East. China just published a list of its richest individuals and, for the first time, hit a record 271 billionaires. Average wealth of the 1,000 individuals on the list is $924 million. There are 1 million people in China with a net worth

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Sunday, October 2, 2011 11:28 am
By Judy Martel · Bankrate.com

Just the number itself represents a milestone: seven figures that mark you as a millionaire. The U.S. has 10 million of them and the number is increasing, yet fewer people today believe they can attain that financial goal. A poll by Associated Press and CNBC finds that although 22 percent of respondents believe they need

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Tuesday, September 27, 2011 5:28 pm
By Judy Martel · Bankrate.com

In any list that includes the wealthiest individuals, you might expect a name like Rockefeller to crop up — and it does, at No. 4 on the list of richest members of Congress. Sen. Jay Rockefeller, (D-W.Va.), descendant of oilman John D. Rockefeller, has a reported net worth of $81 million, mostly in trusts. But

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Sunday, September 25, 2011 10:18 am
By Judy Martel · Bankrate.com

They seem to rumble through every few years: the Asian tsunami, Hurricane Katrina, the BP Gulf Oil spill, Hurricane Irene and last week the earthquake and landslide in India. In the aftermath of a crisis, people are quick to open their hearts and wallets and can instantly send thousands of dollars across an ocean with

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Tuesday, September 20, 2011 3:45 pm
By Judy Martel · Bankrate.com

Always dreamed of a villa overlooking the Mediterranean? The European debt crisis is fueling a decline in home prices in many popular locations for second homes. Recent austerity measures adopted by Spain, Portugal and Greece, along with a glut of new homes built during boom times, has led to a drop in prices of 15

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Sunday, September 18, 2011 8:52 am
By Judy Martel · Bankrate.com

President Obama is calling his proposal for a new, higher minimum tax rate for those earning more than $1 million a year the “Buffett Rule,” according to an article in the New York Times. This, of course, is a reference to billionaire investor Warren Buffett’s public plea to the government to force the rich to

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Wednesday, September 14, 2011 3:05 pm
By Judy Martel · Bankrate.com

Looking to trade up to a mansion with all the extras? Now’s the time to buy for a song. During the housing boom, average square footage for homes continued to trend upward according to the National Association of Home Builders, from 983 square feet for an average home in 1950 to 2,434 square feet in

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Sunday, September 11, 2011 9:32 am
By Judy Martel · Bankrate.com

It’s not easy these days to hold the line on equity investing with all the volatility we’ve seen in the stock market this year. The wealthy are responding by allocating more of their portfolio to hedge funds, according to a survey by advisory firm Rothstein Kass, which reported that nearly 90 percent of the 151

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Tuesday, September 6, 2011 3:43 pm
By Judy Martel · Bankrate.com

When Warren Buffett speaks, people listen, and not just for investing tips. Last month, Buffett published an op-ed piece in the New York Times stating that he and his fellow mega-rich have been enjoying “extraordinary tax breaks” for too long and suggested Congress impose higher rates on taxable income above $1 million. He hit a

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