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☆ Some millennial and Gen X parents are leaving it all behind to spend 6 figures on a family gap year. Here's how they budget and 'worldschool' their kids.
▼ + stars: | 2024-05-01 | by ( Hillary Hoffower | ) www.businessinsider.com time to read: +11 min

Some white-collar parents are leaving their jobs to take family gap years. It's sticking around as the world somewhat normalizes; Reddit is littered with threads looking for family gap year advice, which posters can easily find in various blogs. She now offers a family gap year and extended travel planning service for $80 to $100 an hour. "It could expand into a big business," she said, adding that her family gap year clients typically have disposable income and kids around 8 to 11 years old. AdvertisementWorld lessons, no classroom requiredNo family gap year is complete without immersive travel.

Persons: —, Claire Williams, Matt, they'd, Claire, It's, Jennifer Spatz, itineraries, Amy Chang, Chang, Allen, they've, Spatz, Marisa Vitale, it's, She's, hadn't, what's Organizations: Service, Area, Federal, Global, United Nations Sustainable Locations: Sri Lanka, Sahara, worldschooling, COVID, Massachusetts, Asia, Europe, Venice, Italy, Airbnbs, Greece, Nepal, Sydney, Australia, Santiago, Chile, Spanish, Guatemala, Vietnam, Argentine, Jordan, Patagonia, Los Angeles, California, Salt Lake City, U.S

☆ 21 of the best '90s-inspired looks at the Met Gala through the years
▼ + stars: | 2024-05-01 | by ( Gabbi Shaw | ) www.businessinsider.com time to read: +1 min

Ahead of the 2024 Met Gala on Monday, we're looking back at some of the best looks in history. Some celebrities, like Anne Hathaway, have directly emulated iconic red-carpet looks from the '90s. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementHere are some of the best '90s-inspired Met Gala looks of the last few years.

Persons: we're, Anne Hathaway, —, Hillary Hoffower, Krystine Batcho, Hoffower, Elana Klein Organizations: Service, Le Moyne College

☆ Taylor Swift has now reached billionaire status thanks to her showstopping Eras Tour — see how the pop star makes and spends her fortune
▼ + stars: | 2024-02-09 | by ( Hillary Hoffower | Taylor Nicole Rogers | Eve Crosbie | ) www.businessinsider.com time to read: +1 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Such success makes Swift one of the world's highest-paid celebrities and one of the richest female singers. This story is available exclusively to Business Insider subscribers. Bloomberg puts Swift's current net worth at $1.1 billion, thanks in part to her massive 146-date worldwide Eras Tour and its subsequent tour movie. It comes after Forbes estimated Swift had a net worth upwards of $740 million in July.

Persons: —, Taylor Swift, Swift Organizations: Service, Sony, Bloomberg, Business, Forbes

In a TikTok video, different generations revealed the rent prices for their first apartments. Viewers were left shocked after one baby boomer said he paid $98 per month for his first apartment. AdvertisementAdvertisementWhile a growing economy allowed the typical baby boomer to generate wealth, many millennials and Gen Zers have been weighed down by rising inflation and high rental costs. Several people argued that these prices do not account for inflation, but others pointed out that rent prices are still much higher today, even with inflation considered. Most recently, Gen Zers have been speaking out against work culture, arguing 9-to-5 schedules and in-office mandates are flawed.

Persons: boomer, Zer, Gen Zers, @captainmooseknuckless, Xer, Insider's Hillary Hoffower, Xers, Zers Organizations: Boomers, National Association of Realtors Locations: Baltimore , Maryland, Green Bay , Wisconsin, Hoboken , New Jersey, Savannah , Georgia, Denver , Colorado, Michigan, Zillow

When Wolfe Herd took Bumble public in 2021, she became the youngest female CEO to make such a move. Before Bumble, Wolfe Herd cofounded rival dating app Tinder. Wolfe Herd is married to a Texas oil heir, has two kids, and splits time between her homes in Texas. AdvertisementAdvertisementWhitney Wolfe Herd is stepping down as CEO of dating app Bumble after nearly 10 years at the helm. Keep reading to learn more about Bumble cofounder Whitney Wolfe Herd.

Persons: Wolfe Herd, —, Whitney Wolfe, Bumble, Drena Kusari, We're, Wolfe Organizations: Service, Fast Company, Company Locations: Texas

☆ The frugal life of Warren Buffett: How the billionaire spends his fortune, from McDonald's breakfasts to a rare and 'indefensible' splurge
▼ + stars: | 2023-09-20 | by ( Hillary Hoffower | Taylor Nicole Rogers | Kylie Kirschner | ) www.businessinsider.com time to read: +1 min

Berkshire Hathaway CEO and chairman Warren Buffett's net worth is now an estimated $124 billion. Buffett is the sixth-wealthiest person in the world, worth more than Larry Page and Mark Zuckerberg. With an estimated net worth of $124 billion, according to the Bloomberg Billionaires Index, the 93-year-old Berkshire Hathaway chairman and CEO is now the sixth-wealthiest person in the world. He's richer than Mark Zuckerberg, whose net worth is an estimated $111 billion, Google cofounder Sergey Brin, worth $116 billion, and former Microsoft CEO Steve Ballmer, worth $118 billion. He eats McDonald's for breakfast in the mornings and borrowed furniture when his children were born.

Persons: Warren Buffett's, Buffett, Larry Page, Mark Zuckerberg, Sergey Brin, Steve Ballmer Organizations: Berkshire Hathaway, Service, Bloomberg, Oracle Locations: Wall, Silicon, Omaha

Wealthy people use many accounts to build wealth, and three are widely available. And they love to buy low-cost index funds in brokerage accounts to build accessible wealth. Rich people use Roth IRAs for tax advantagesRich people are always looking to minimize the impact of taxes, and Roth IRAs are designed to do just that. Roth IRAs do have income limits, but that doesn't mean wealthy people and high earners don't use them. A workplace's 401(k) plan might not seem like a likely place to amass wealth, but these accounts offer powerful perks.

Persons: Rich, Roth, Peter Thiel's Roth, Insider's Hillary Hoffower, Warren Buffett, Read Organizations: Service, PayPal, Ramsey Solutions Locations: Wall, Silicon

☆ Fake goods are everywhere online, experts say. Here's how to spot them.
▼ + stars: | 2023-08-10 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +7 min

New technology and the rise of online shopping has made it easier for scammers to sell fakes. These are the top tips to avoid buying a fake online. The rise of online shopping, particularly during the pandemic, fueled the market for counterfeit products. Here are six tips from experts on what to watch out for when you're shopping online:1. If you see any of these warning signs, the product very well could be fake," the IACC warns online.

Persons: Joe Simone, DK Lee, Jen Hanks, Lee, It's, Ben T, Smith IV, Kearney, Simone, Bob Barchiesi, Insider's Hillary Hoffower, Smith, it's Organizations: Service, Economic Co, Trade, eBay, Walmart, American Apparel & Footwear Association, Amazon, International Anticounterfeiting Coalition Locations: Wall, Silicon, Hong Kong

☆ I'm part of the luckiest class of Gen Zers. Here's how we won the economic recovery.
▼ + stars: | 2023-08-06 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +7 min

The pandemic threw Gen Zers off their professional trajectories. For the oldest Gen Zers, the pandemic economic recovery was a huge success. Here's how the class of 2019 won the pandemic recovery. The class of 2019 graduated into recession fears, but it was an economic downturn like none we've seen beforePolitano technically graduated in fall 2018, but considers himself part of my cohort as he began work in 2019. Are you a class of 2019 graduate, and have a story to tell about the economy of the last four years?

Persons: Gen Zers, Zers, Zers —, —, Joey Politano, he'd, Politano, couldn't, that's, they're, Hillary Hoffower Organizations: Service, Pew, millennials Locations: Wall, Silicon

☆ Millennials struggled to get jobs in the Great Recession. Right now, it's even worse for Chinese Gen Zers.
▼ + stars: | 2023-07-17 | by ( Sirena Bergman | ) www.businessinsider.com time to read: +2 min

Youth unemployment in China has reached 21.3%, which is really bad. It's even worse than when millennials were trying to get jobs amid the Great Recession. There are 280 million Gen Zers in the world's second-largest economy. "Youth unemployment" was the buzzword. In 2022, there were 72 million millennials in the US; there are 280 million Gen Zers in China.

Persons: millennials, Zers, Gaga's, That's, Hillary Hoffower Organizations: Service, Pew Research Center, Bureau of Labor Statistics Locations: China, Wall, Silicon, COVID

☆ Here's how much the typical worker makes at 19 retail companies, from Amazon to Walmart
▼ + stars: | 2023-03-04 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

SEC rules require publicly traded companies to disclose their workers' median annual pay. Here's what the median worker gets paid at 19 retail companies, from lowest to highest. Ever since Amazon set its minimum wage to $15 in 2018, more retailers have followed suit by offering starting wages worth more than double the national minimum wage of $7.25. Rules following the financial crisis of 2008 require public companies to calculate their median worker's annual salary in order to compare it to the CEO's compensation. Scroll through below to see where 19 of the largest companies rank, from lowest to highest annual pay.

☆ The Obamas' net worth: How Michelle and Barack Obama make their money
▼ + stars: | 2023-02-22 | by ( Hillary Hoffower | Joshua Zitser | ) www.businessinsider.com time to read: +2 min

Barack Obama makes his money from a six-figure pension, public speaking, and his best-selling books. makes his money from a six-figure His latest memoir, "A Promised Land," sold nearly 890,000 copies within a day of its 2020 release. Michelle Obama has also penned bestsellers, while the couple give generously to charity. For her part, Michelle Obama's first memoir, "Becoming," was published in November 2018 and became that year's No. From philanthropic efforts, to vacationing where the sun shines and making long-term investments in their daughters' education, here's how the Obamas make and spend their money.

As excited as you may be to share the big news with everyone, it's the last thing you should do. "Once you're announced as the winner, the sharks will start circling," Kristen Euretig, a financial planner who founded Brooklyn Plans, previously told Insider. With only a few states allowing anonymity to lottery winners, it can be difficult to keep the news private. But you can do a few things to stay under the radar, like deleting your social media accounts, leaving town for a few days, and setting up an LLC or trust so people can't track you. You can also refrain from announcing the big win publicly on social media, in a TV appearance, or in person.

☆ Here's how the Trump family spends their billions, from a $11 million beachfront estate in St. Martin to a $15 million fleet of private aircraft
▼ + stars: | 2022-11-24 | by ( Hillary Hoffower | John L. Dorman | ) www.businessinsider.com time to read: +2 min

Former President Donald Trump's net worth is estimated to be $3.2 billion, according to Forbes. Combine that with the reported individual net worths of the Trump children, and the entire Trump family could be worth over $4 billion. And that's not to mention the individual net worths of his adult children: a reported $25 million each for both Donald Trump Jr. and Eric Trump, according to Forbes; and a reported $600,000 for Tiffany Trump, according to Cheat Sheet. Ivanka Trump, who runs her own business, has the largest net worth of all the children. From pricey penthouses and expensive schooling to high-end shopping and a full-on aviation fleet, here's how they spend their money.

☆ Amazon founder Jeff Bezos pledged to donate the majority of his wealth to charity. Here's how he currently spends his $122 billion fortune, from giant underground clocks to space exploration.
▼ + stars: | 2022-11-16 | by ( Hannah Towey | Katie Canales | ) www.businessinsider.com time to read: +1 min

Jeff Bezos has amassed a $122 billion fortune since founding Amazon in 1994, per Bloomberg. Bezos stepped down as Amazon CEO in mid-2021 after seeing a pandemic-era surge in wealth. He recently announced plans to donate the majority of his fortune to various charities. Billionaire Amazon founder Jeff Bezos has become one of the wealthiest and most recognizable figures in the tech world. In November, Bezos announced plans to donate the majority of his fortune to charity, a commitment he had until recently shied away from.

☆ Meet the 'sandwich generation': Financially strapped Gen Xers helping out both their parents and their children
▼ + stars: | 2022-04-26 | by ( Hillary Hoffower | ) www.businessinsider.com time to read: +3 min

Most members of "the sandwich generation" are Gen Xers, per a new Pew report. Sandwiched adults have a parent age 65 or older and either a young child or an adult child they've helped financially. Gen X, who turn ages 42 to 57 this year, make up the majority of this demographic. Gen X caregivers are typically employed, with most saying caregiving has had at least one impact on their work. That flips for those in their 50s, most of whom have an adult child they've helped financially.

☆ Meet the Cathys, heirs to the Chick-fil-A empire, who have a fortune of more than $14 billion and are one of America's wealthiest family 'dynasties'
▼ + stars: | 2021-06-24 | by ( Hillary Hoffower | ) www.businessinsider.com time to read: +1 min

Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Loading Something is loading. That's because the Cathys are the family behind the Chick-fil-A empire. Born and raised in the south, the Cathy family has been dedicated to continuing Truett's legacy, growing Chick-fil-A across the US. AdvertisementAdvertisementTake a look inside the rise of Chick-fil-A and the family behind it.

Persons: Cathy family's, Truett Cathy, Truett's, Dan Cathy, Don, Bubba, Cathy, — Organizations: Service, Policy, Forbes Locations: Wall, Silicon

Before Bumble, Wolfe Herd cofounded rival dating app Tinder. When Wolfe Herd took Bumble public in 2021, she became the youngest female CEO to do so. Wolfe Herd is married to a Texas oil heir, has two kids, and splits time between her homes in Texas. A representative for Wolfe Herd at Bumble did not respond to Insider's request for comment on Wolfe Herd's career, net worth, or personal life. Keep reading to learn more about Bumble CEO Whitney Wolfe Herd.

☆ The Obamas' net worth: How Michelle and Barack Obama make money
▼ + stars: | 2020-12-09 | by ( Hillary Hoffower | Joshua Zitser | ) www.businessinsider.com time to read: +2 min

Barack Obama makes his money from a six-figure pension, public speaking, and his best-selling books. makes his money from a six-figure His latest memoir, "A Promised Land," sold nearly 890,000 copies within 24 hours of its release. While Obama spends his money in various ways, he notably gives to charity and takes family vacations. For her part, Michelle Obama's first memoir, "Becoming," was published in November 2018 and became that year's No. These endeavors — along with the six-figure pension all former presidents receive — have significantly contributed to the Obamas' net worth, which is at least $70 million, according to International Business Times.

☆ Here's how the Trump family spends their billions, from a $11 million beachfront estate in St. Martin to a $15 million fleet of private helicopters and airplanes
▼ + stars: | 2020-06-15 | by ( Hillary Hoffower | John L. Dorman | ) www.businessinsider.com time to read: +2 min

Loading Something is loading. The Daily Beast reported that the book will include Mary Trump's claim that she supplied The Times with confidential family tax documents. Trump's net worth is currently estimated to be $2.1 billion — down an estimated $1 billion since the pandemic. Ivanka Trump, who runs her own business, has the largest net worth of all the children. From pricey penthouses and expensive schooling to high-end shopping and a full-on aviation fleet, here's how they drop their millions and billions.

Nearly half of indebted graduates think their college degree didn't earn them a higher salary, according to a survey from Insider and Morning Consult. The average student-loan debt is nearly $30,000 per borrower in the graduating class of 2018. Of these respondents, 17% have undergrad student-loan debt and 7.5% have graduate student-loan debt. For those with undergrad student-loan debt, this might be influenced by how stressed they are about their debt. That's still more than what the average millennial earns — $35,455, just slightly more than the average student-loan debt.

In a survey from Insider and Morning Consult, the majority of partnered millennials said money added stress to their relationships. While slightly more millennials with a financial imbalance — that is, with very different incomes — reported stress, most millennials with similar incomes did as well. But, who's making more is just another factor adding financial stress to millennials' lives. According to data from the same survey, Gen Xers also report quite a bit of money stress in their relationships, with about 56% overall reporting money stress. Millennials are putting off life events as a result of their money stressMoney might be adding stress to millennials' relationships ... but it's also adding stress to just about everything else.

The survey found that 49% of millennials have had to delay medical or dental care as a result of their finances. That hasn't kept up with climbing health care costs. National health care costs per person have increased by $9,000 since 1970, according to the SuperMoney report. Being able to afford healthcare is more important than ever for millennials who need to find help for their mental health. Rising healthcare costs could be at play here.

☆ Millennials might lag behind their parents when it comes to money, but there's something they do better: talk about it
▼ + stars: | 2019-10-31 | by ( Hillary Hoffower | Economics Correspondent | Millennial Wealth | ) www.businessinsider.com time to read: +4 min

Millennials are more open to talking about money than their parents, according to a new survey by Insider and Morning Consult for "The State of Our Money." More than 80% of married millennial and baby boomer respondents said they share financial info with their spouse, but the similarities stop there. Millennials are much more open about money than their parents are. Thirty percent of millennials share financial info with their friends, compared to just 9% of boomers; 25% of millennials share financial info with their siblings, but 12% of boomers do the same; and 12% of millennials talk to their colleagues about money, whereas only 2% of boomers do. Copeland aims to make students more comfortable and knowledgeable when talking about money and encourages them to talk to mentors and parents about it.

Forty-five percent of millennials think they earn less than their peers, according to a new survey by Insider and Morning Consult. Only 34% of millennials think they earn more, and 21% said they didn't know. The picture is brighter debt-wise — 48% percent of millennials think they have less debt than their peers, while 35% think they have more. Millennials think they have less debt than their peersHowever, millennials are slightly more positive about their debt situation in comparison to their friends — 48% think they have less debt than their peers, while 35% think they have more. But of those who do have a mortgage, half owe more than $100,000, while the other half owe less.

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