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☆ How Trump's 'I'm rich!' boasts are coming back to bite him in court
▼ + stars: | 2024-02-02 | by ( Laura Italiano | Jacob Shamsian | ) www.businessinsider.com time to read: +11 min

The day before awarding Carroll $83.3 million in damages — Trump's penance for calling her a lying "whack job" when she told the world he'd sexually assaulted her — jurors heard, firsthand, how rich he was. AdvertisementTrump's "I'm rich" boasts hurt him in both the Carroll verdict and the upcoming fraud trial verdict, Snell said. Punitive damages in defamation cases are supposed to have a deterrent effect, to stop the defamation from happening again. AdvertisementTrump's wealth also illustrates why the jury imposed enormous punitive damages compared to the $18.3 million to compensate Carroll. The Carroll jury also heard Trump boast about the value of his "brand."

Persons: Donald Trump's, Jean Carroll, Donald Trump, Carroll, Roberta Kaplan, Trump, Letitia James, I'm, Tristan Snell, General's, Snell, Trump's, —, Kaplan, J, Erik Connolly, Connolly, Stephanie Keith, There's, We've, that's, Forbes, Timothy A, Clary, didn't, Chris Mattei, Alex Jones, Mattei, Arthur Engoron, Engoron Organizations: Carroll, Trump, New York Attorney, New, New York, Trump University, Disney, Benesch, NEW, Manhattan Federal Court, E, MSNBC, Trump Organization, Forbes, Bloomberg, Getty Locations: Manhattan, Smartmatic, New York City, AFP, New York

☆ Money tips for single moms: 'It can be very challenging to raise kids on one income,' advisor says
▼ + stars: | 2023-11-22 | by ( Annie Nova | ) www.cnbc.com time to read: +3 min

"It can be very challenging to raise kids on one income," said Cathy Curtis, founder and CEO of Curtis Financial Planning in Oakland, California. Experts shared these 3 financial tips for single mothers. After accounting for fixed expenses, Curtis said, "closely monitor and budget for variable and miscellaneous expenses." Single mothers also should make sure they're preparing for their own future, said Jennifer Bush, a certified financial planner with Mainstreet Financial Planning in San Jose, California. To manage fears and be prepared for such a scenario, Curtis said, single mothers should take some additional precautions.

Persons: Christopher Hopefitch, Cathy Curtis, Curtis, That'll, Jennifer Bush, Bush, Emma Johnson, Johnson Organizations: Bank, Getty, National Women's Law, U.S . Department of Agriculture, Curtis Financial, CNBC FA, Fidelity Investments Locations: Oakland , California, overspending, San Jose , California

Now that I'm stepping away from an employer-sponsored retirement plan, I need to save for my future on my own. Anjali Jariwala, the founder of financial planning firm FIT Advisors, says the most important aspect of planning contributions is setting good financial habits. Consider an IRANow that I'll be saving for retirement without the help of my employer, I'll want to consider an IRA. Consider a solo 401(k)I can also consider a solo 401(k), which provides similar benefits to an employer 401(k). And you can open up multiple retirement accounts, but keep track of your contributions and limits.

Persons: I've, it's, —, Anna Sergunina, Sergunina, Anjali Jariwala, Jariwala, Roth, Tricia Rosen, Robinhood, Rosen, Wealthfront, Read Organizations: Roth IRA

In order to protect Republican spending priorities for defense, veteran and disaster relief, it cuts other spending by over 8%. McCarthy planned to hold a vote on a Department of Defense spending bill on Wednesday, then the stopgap funding measure the next day. Leaders of the so-called “five families” — the various conservative factions that make up the House Republican majority – are expected to convene later Monday behind closed doors in the speaker’s office. “How are you going to win your arguments to secure the border if the border agents don’t get paid? Still, Schumer called on McCarthy to take a bipartisan approach to keep the government running.

Persons: Kevin McCarthy, “ I’ve, you’re, ” McCarthy, ”, we’ve, McCarthy, Chuck Schumer, “, it’s, Kevin Hern, Dusty Johnson, I’ve, don’t, aren’t, Byron Donalds, Biden, Janet Yellen, We’ve, Schumer, ” Schumer, Fatima Hussein Organizations: WASHINGTON, Republican House, Republican, Capitol, Republicans, Caucus, Main Street Caucus, Democrats, Department of Defense, Committee, Mainstreet Caucus, Fox, Twitter, Freedom Caucus, U.S . Chamber of Commerce, CNBC, House Democrats Locations: shutdowns, Washington

☆ Trump's Top 5 defenses in his massive NY financial fraud case, in his own words
▼ + stars: | 2023-09-03 | by ( Laura Italiano | ) www.businessinsider.com time to read: +17 min

AdvertisementAdvertisementHere are Trump's top five business fraud defenses – in his own words – as revealed in a recently-unsealed deposition transcript. New York attorney general's officeTrying to pass the blame won't work, two attorneys who used to work for previous New York attorneys general told Insider. And you're suing them instead of going after violent criminals," he scolded the attorney general and her lawyers. Then there's the $250 million Trump allegedly pocketed by lying about the size of his collateral. 3: his math is "worthless"At the center of the attorney general's case are a decade's worth of Trump's Statements of Financial Condition.

Persons: Trump, Donald Trump, Letitia James, James, Andrew S, Amer, Kevin C, Wallace, Brittainy Newman, Eric, I've, Mazars, We're, I'm, general's, Kenneth Foard McCallion, Tristan Snell, –, Susan Watts, they'd, Snell, McCallion, Donald Trump's, Laura Italiano, Kathy Willens, Jennifer S, Altman, Carlo Allegri, John Minchillo, Drew Angerer, George Washington, Jack Nicklaus, Tom Watson, He's Organizations: Trump Org, Service, York, New York State, New York, AP Trump, Trump Organization, New, Trump University, Trump, Deutsche Bank, NY Daily, Getty, Associated Press Deutsche Bank, McCallion, Associates, Washington, MSNBC, Reuters, U.S, Marriott Marquis Locations: NY, Wall, Silicon, Manhattan, New York, Trump's, Trump Tower, Manhattan , NY, . New York, Trump, New York City, Springs, Westchester County , New York, Mount Kisco, N.Y, Washington ,, Miami

Here are four important steps to take to determine just how much money you'll need to save:1. Calculate how much you'll need to save during retirementUnderstanding what you expect retirement to look like will help determine how much you'll need in order to fund that lifestyle. In retirement, your savings will cover many of the same expenses that you had prior to retirement. This rule states that retirees can withdraw up to 4% of their retirement savings in year one of retirement. So, if you have $2,000,000 in retirement savings, you would withdraw $80,000 that first year.

Persons: you'll, it'll, Jim Ludwick, They're, Roth, Ludwick, Tolen Teigen, Everyone's, Charles Schwab Organizations: Service, Gallup, Utilities Insurance, Inc, Fidelity, Social Security, IRA, Roth IRA, Consulting, Security Locations: Wall, Silicon, Chevron

☆ A Florida Republican running for Congress says DeSantis may have tanked his own political career in the state by running against Trump
▼ + stars: | 2023-07-30 | by ( John L. Dorman | ) www.businessinsider.com time to read: +2 min

Republican Alan Pincus told WaPo that DeSantis may have tanked his political future in Florida over his 2024 bid. DeSantis once led Trump in earlier Florida surveys of the Republican presidential primary. But Trump has continued to dominate the GOP race and DeSantis has had to reboot his campaign. DeSantis once led in early Florida polling among the GOP presidential contenders. But even in the Sunshine State, he's fallen behind Trump — in a head-to-head contest, the latest Florida Atlantic University/Mainstreet Research survey had Trump leading DeSantis 54%-37%.

Persons: Alan Pincus, WaPo, DeSantis, Trump, Ron DeSantis, Donald Trump, Sen, Tim Scott of, Charlie Crist, Republican Alan Pincus —, —, Pincus, he's, Vivek Ramaswamy Organizations: Trump, Republican, GOP, Service, Democratic Rep, Republicans, Washington Post, Sunshine State, Florida Atlantic University, Mainstreet Locations: Florida, Wall, Silicon, Tim Scott of South Carolina

OTTAWA, July 24 - Canada's Liberal Prime Minister Justin Trudeau is planning to reshuffle his cabinet this week, likely replacing ministers deemed to have struggled in their posts or who are not planning on running again in the next election, two government sources said. It is common for cabinet members to clear their schedules and be called to Ottawa ahead of a reshuffle. Speaking to reporters in Toronto, the 72-year-old minister did not say whether she would stay in government in the meantime, adding only that she would do "whatever the prime minister wants me to do". The most influential ministers including Deputy Prime Minister and Finance Minister Chrystia Freeland, Foreign Minister Melanie Joly, Innovation Minister Francois-Philippe Champagne and Natural Resources Minister Jonathan Wilkinson are expected to keep their jobs. Trudeau won a parliamentary majority in 2015 but was reduced to leading a minority government after elections in 2019 and 2021.

Persons: Justin Trudeau, Trudeau, Carolyn Bennett, Marco Mendicino, Chrystia Freeland, Melanie Joly, Francois, Philippe Champagne, Jonathan Wilkinson, Steve Scherer, David Ljunggren, Deepa Babington, David Holmes Organizations: OTTAWA, Canada's Liberal, Canadian Broadcasting Corp, Mental, Liberal, Monday, Public Safety, Finance, Innovation, Natural Resources, New Democrats, Conservatives, Liberals, Thomson Locations: Ottawa, Toronto

☆ You're late on your taxes. Now what?
▼ + stars: | 2023-05-10 | by ( Chris Taylor | ) www.reuters.com time to read: +5 min

Being late on your taxes isn’t ideal, but it happens. If you didn’t file for an extension, then it is too late to do that now, says Bell. Then there is the non-filing penalty, which is 5% of the unpaid taxes for every month late, up to 25%. But for those who are late in filing taxes, there really is only one path forward. “People have a lot of reasons for not filing taxes, and the main one is that they can’t pay,” says Bell.

☆ Banking turmoil is far from over. Bill Ackman, Jeffrey Gundlach, and Mohamed El-Erian have renewed their warnings about unresolved risks.
▼ + stars: | 2023-05-06 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +4 min

Bill Ackman, Jeffrey Gundlach, Mohamed El-Erian and others are warning the banking turmoil is far from over. That's prompting top economists and investors to once again warn that the banking turmoil is far from over. Below is a selection of the most recent warnings on US banking risks from high-profile investors, analysts and other experts. Bill Ackman, billionaire investor"The FDIC's failure to update and expand its insurance regime has hammered more nails in the coffin," Ackman said Wednesday on Twitter. He was raising doubts about Federal Reserve chair Jerome Powell's suggestion during a Wednesday press conference that the worst of the banking turmoil is over.

☆ The Fed will cut rates in the fall as banking turmoil puts credit conditions in a 'tight vise', economist says
▼ + stars: | 2023-05-04 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The Fed will finally cut interest rates in the fall, former PIMCO economist Paul McCulley predicted. That's because banking turmoil will put credit in a "tight vise," slowing the economy, he warned. Economists have flagged the risk of recession over the past year as the Fed aggressively hiked rates. Economists have been flagging the growing odds of recession over the past year, as the Fed raised interest rates over 1,700% to combat inflation. "We have this chronic condition that I think is a really tight vise on MainStreet lending," McCulley warned.

☆ 5 key things to know when you create a will and make other end-of-life plans
▼ + stars: | 2023-03-19 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +6 min

Here are five key things to know if you start thinking about how you'd craft an estate plan. A will may not cover all your basesA will is a basic part of an estate plan. Be aware that many 401(k) plans require your current spouse to be the beneficiary unless they legally agree otherwise. watch nowAdditionally, an estate plan should include other end-of-life documents, including a living will. You'll need to revisit your estate plan

☆ Donald Trump, a billionaire, is fighting NY Attorney General Letitia James over a measly $110K check
▼ + stars: | 2023-01-28 | by ( Laura Italiano | ) www.businessinsider.com time to read: +7 min

Trump and NY's attorney general are in a wordy war over his $110K contempt-of-court check from May. "OAG" is short for Office of the Attorney General. The first, a federal lawsuit in Florida that he'd filed in November and dropped on Friday, had sought the dismissal of James' lawsuit. On Thursday night, attorneys for the 16 defendants named in James' lawsuit filed nearly 5,000 pages of response papers. The filings repetitively complain that James' lawsuit errs in repeatedly referring to "the Trump Organization," as her 222 pages do some 300 times.

☆ ‘Don’t wait until March’ to hire a tax pro, says advisor — 3 moves to make before the 2023 tax filing season opens
▼ + stars: | 2023-01-11 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Take steps to reduce your 2022 tax billWhile many tax planning opportunities vanish after year-end, experts say there are still a few ways to trim your 2022 tax bill. I believe there is tremendous value in thinking ahead and coordinating both your tax and financial planning strategies. You can also still make individual retirement account contributions until the tax-filing deadline on April 18, 2023, said Brown, who is also a CPA. "If you have not already done so, review last year's records and create a checklist of the forms" you're expecting, he suggested. For deductions, you may have 1098 for mortgage interest, 5498 for individual retirement account deposits, 5498-SA for health savings account contributions and more.

☆ The private-equity firm behind Italian soccer champs AC Milan is quietly building a financial services powerhouse
▼ + stars: | 2023-01-05 | by ( Hayley Cuccinello | Dakin Campbell | ) www.businessinsider.com time to read: +4 min

RedBird Capital is best known as the private-equity owner of soccer club AC Milan. But the sports dealmaker is quietly building a financial services arm to rival its flashier bets. RedBird Capital is one of the buzziest names in dealmaking when it comes to sports and Hollywood. In August, the New York City-based private equity firm bought soccer club AC Milan for $1.2 billion. The firm's philosophies for financial services and sports are one and the same: taking advantage of fragmented environments with firms that have long-term recurring cash flow.

☆ Donald Trump will fight hard against Letitia James' lawsuit. Ex-AG insiders say these are his top 5 defenses.
▼ + stars: | 2022-09-24 | by ( Laura Italiano | ) www.businessinsider.com time to read: +9 min

Donald Trump has 5 ways to fight Letitia James' lawsuit, ex-NY AG prosecutors told Insider. James filed a 220-page lawsuit against Trump, his family, and the Trump Organization on Wednesday. Trump Defense No. Still, the judge must at least weigh any "I just signed what they gave me" defense, Morian said. "There's a yawning silence" from the banks Trump allegedly tricked into lending to him, he noted.

☆ Donald Trump, Ivanka Trump, and Donald Trump, Jr. have all been deposed by NY's attorney general's office — now what?
▼ + stars: | 2022-08-10 | by ( Laura Italiano | ) www.businessinsider.com time to read: +6 min

Donald Trump was deposed Wednesday by the NY attorney general's office — after promising to plead the Fifth. So what's next for the Trumps, the Trump Organization and James' three-year investigation? The lawsuit will seek steep financial penalties for an alleged decadelong pattern of playing fast and loose with the assessed values of Trump Organization properties. The Trump Organization probe is the third time the former president has been in the AG's crosshairs. Why did the AG insist on a deposition in this current, Trump Organization case?

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