Wealth Blog

Wednesday, July 28, 2010 4:42 pm
By Judy Martel · Bankrate.com

Wouldn’t we all like to know the surefire roadmap to wealth? In fact, there are more than a few infomercials that promise to take you there in a hurry … once you’ve purchased the exclusive set of 100 DVDs, that is. Or you could become an endodontist – but more on that later. Gimmicks and get-rich-quick schemes

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Friday, July 23, 2010 3:43 pm
By Judy Martel · Bankrate.com

Considering the recent news that the rich are defaulting on their mortgages faster than the rest of the population, perhaps falling jumbo mortgage rates will help revitalize the market. A year ago, the average rate on a 30-year fixed jumbo mortgage (those loans of more than $729,750) was 6.86 percent, according to the Bankrate.com weekly

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Wednesday, July 21, 2010 10:55 am
By Judy Martel · Bankrate.com

It didn’t take long for the billionaires to start dying this year, leaving the U.S. Treasury mourning millions in lost estate taxes, and many happy heirs. On March 28, Texas gas pipeline billionaire Dan Duncan, the 74th richest person in the world, died. Under the estate tax of 2009, he would have owed up to

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Friday, July 16, 2010 1:00 pm
By Judy Martel · Bankrate.com

So how are we all feeling two years after the global economic collapse? Not so great, according to a poll of 1,002 Americans conducted for Certified Financial Planner Board of Standards by Penn, Schoen Berland.   Here are some of the highlights of the opinion survey: Nearly two out of three Americans (65 percent) are more

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Wednesday, July 14, 2010 12:43 pm
By Judy Martel · Bankrate.com

If only jazz-age author F. Scott Fitzgerald could have foreseen the long and varied life of his now-famous observation, “the rich are different.” Here’s another, less favorable, differentiator of the wealthy: They’re defaulting on their mortgages in greater numbers than the rest of the underwater-mortgage population. A study for The New York Times by CoreLogic

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Friday, July 9, 2010 11:37 am
By Judy Martel · Bankrate.com

How do you define wealth? Billionaire investor Warren Buffett sat down with interviewer Willow Bay to discuss and dispense some advice about wealth. And, as is typical of the truly wealthy, the conversation didn’t focus on money. If you listen to the interview, Buffett essentially talks about the one luxury the rich always come home

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Friday, July 2, 2010 11:51 am
By Judy Martel · Bankrate.com

Have you heard about the Indianapolis businessman who surrendered his luxury car collection as a means of paying off investors who lost money in his finance company? Tim Durham, owner of Fair Finance Co., has not been charged with a crime, but U.S. District Attorney Tim Morrison in Indianapolis alleges he’s involved in a Ponzi

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Wednesday, June 30, 2010 12:03 pm
By Judy Martel · Bankrate.com

It’s probably not shocking that the wealthy try to avoid paying taxes on their fortunes. After all, trusts and other tax-avoidance and postponement tactics have been around for centuries. But IRS data shows that the wealthy are going even further – literally – to avoid paying Uncle Sam. They’re moving to states that have lower taxes, and,

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Friday, June 25, 2010 2:11 pm
By Judy Martel · Bankrate.com

Sometimes it’s fun at the end of the week to assemble the latest weird news from the world of wealth. And the moneyed population is always a rich (so to speak) source. Consider two recent news items from my home state of Florida. By way of explanation, I offer the excuse that the 90-plus degree

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Tags: news, wealthy, weird
Wednesday, June 23, 2010 9:01 am
By Judy Martel · Bankrate.com

It appears the millionaire population has returned to pre-recession levels, and is feeling the itch to spend. Boston Consulting Group’s latest study says that global wealth staged a “remarkable comeback” in 2009, increasing by 11.5 percent to $111.5 trillion, just shy of the number at year-end 2007, before the recession. What’s more, North America posted

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