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☆ Democrats need to focus on the economy and expose Republican 'anti-worker views' to win the midterms, Bernie Sanders says
▼ + stars: | 2022-10-10 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

With midterms looming, Bernie Sanders has a message for the Democrats: Focus on the economy. In a new opinion piece, Sanders said Democrats should "expose the Republicans for the phonies that they are." He said it's time for Democrats to confront Republicans about them — "and expose their anti-worker views on the most important issues facing ordinary Americans." As Insider's Walt Hickey reported, Biden saw a huge upswing in polling in late August as those economic policies were announced. Sen. Kyrsten Sinema memorably voted down the $15 minimum wage, and has continually spiked tax hikes on the wealthy.

☆ Meet a 70-year-old former pastor who started a painting business just 2 weeks after retiring because his stock investments are tanking
▼ + stars: | 2022-10-09 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

Joe Mlaker, 70, decided to start a business just two weeks after retiring from his job as a pastor. But just two weeks later, he decided to start an interior painting business. Along with being a "hedge" against the markets, he hopes his business income will help him and his wife travel the way they envisioned during their retirement. Since he'd run a small painting business for nearly three years in his 20s, it seemed like a natural fit. "Being active is a part of my life," Mlaker said.

For years, the LGBTQ+ community has had to focus more on survival than wealth-building. Why we need to build wealth in the LGBTQ+ communityIf you hear words like "wealth" and "investing" and cringe, you're not alone. Here's one: Wealth in our culture means security and power, and the LGBTQ+ community can wield those to make a difference. Here are some tips for building wealth within the LGBTQ+ community. Search for fee-only, fiduciary advisors in your ZIP code, and filter for terms like "LGBTQ family."

☆ New money is pouring into Singapore, but a series of recent multimillion-dollar real-estate transactions show the old status symbols are as popular as ever
▼ + stars: | 2022-10-07 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +4 min

Good Class Bungalows, or GCBs, are powerful status symbols for old and new money alike in Singapore. With land this scarce, the most elite level of property on the island is the Good Class Bungalow, or GCB. New money, old status symbolWith new money pouring into Singapore, a series of recent multimillion-dollar real-estate transactions show these old status symbols are as popular as ever. And in 2019, British billionaire inventor James Dyson purchased an SG$50 million bungalow opposite Singapore's Botanic Gardens, per the Straits Times. Moreover, some prospective Good Class Bungalow renters are not even living in these properties.

☆ The bottom half of American families hold just 2% of the country's wealth — while the top 1% of families have a third
▼ + stars: | 2022-09-29 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +3 min

A new report from the nonpartisan Congressional Budget Office tracks wealth distribution. The report finds that American families in the top 10% held 72% of the country's wealth in 2019. US families in the top 10% of the wealth distribution added about $60 trillion to their wealth from 1989 to 2019, while the bottom half of Americans added just under $1 trillion to their total wealth during the same time. The report, requested by Sen. Bernie Sanders, shows just how uneven wealth distribution is in the US — and how the rich have only gotten richer. "The total wealth held by families in the top 10 percent increased at a faster rate than wealth held by families in the rest of the distribution."

☆ 'We get paid less and we live longer': 2 personal finance experts discuss why it's crucial for women to focus on building wealth and share their top strategies for investing and maintaining financial
▼ + stars: | 2022-09-28 | by ( Jennifer Streaks | ) www.businessinsider.com time to read: +8 min

Retirement saving for women can be difficult because of pay gaps and time out of the workforce. "It's vital that women understand what their specific challenges to saving and investing will be," Kaufman said to Insider. But it will definitely take more than telling women to just save more money or make more money. "We have to do more than save money in a 401k and a bank account," says Kaufman. Just working and saving money is not going to get you there," Tisdale says.

Below is a compilation of great personal finance books authored by inspiring women. Other personal finance books by women we consideredThere are many personal finance books by women. While these weren't chosen as our top picks, you also might consider reading some of the following books:Frequently asked questionsWhy should I read personal finance books? Personal finance books can serve as a great resource for anyone interested in learning to use and manage money effectively. Other personal finance books may be ideal as a source of inspiration.

High-yield savings accounts can earn significantly more interest on cash you need in the short term. Dozens of banks offer high-yield savings accounts, but we compared three of the most popular. To help out, we compared three of the most popular high-yield savings accounts on offer today: the Ally High Yield Savings Account, a favorite among financial planners and super savers; , investment bank Goldman Sachs' online savings account; and the Wealthfront Cash Account by the popular robo-advisor. Below you'll find each of these high-yield savings accounts compared on a variety of metrics. That's because interest rates on savings accounts fluctuate depending on inflation and the government's interest-rate benchmark.

☆ Stock market losses wipe out $9 trillion from Americans' wealth
▼ + stars: | 2022-09-27 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

With major market indexes falling even further since early July, and the bond market adding further losses, market experts say the current wealth losses from financial markets could total $9.5 trillion to $10 trillion. The top 10% of Americans have lost over $8 trillion in stock market wealth this year, marking a 22% decline in their stock wealth, according to the Federal Reserve. While Americans have gained wealth from rising housing prices, the gains have been more than offset by stock market losses. The drop in stock wealth also far exceeds the $6 trillion in quarterly stock losses during the beginning of the pandemic in 2020. Yet some say the "negative wealth effect " − the theory that wealth declines lead to spending declines − could soon start to bite, especially if market declines continue.

☆ Bankrupt crypto lender Voyager to sell assets to Sam Bankman-Fried's FTX for $1.4 billion
▼ + stars: | 2022-09-27 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Sam Bankman-Fried, founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange, speaks during an interview on an episode of Bloomberg Wealth with David Rubenstein in New York, US, on Wednesday, Aug 17, 2022. Customers of beleaguered cryptocurrency lender Voyager Digital may find some solace in the news that FTX, the bitcoin exchange founded by billionaire Sam Bankman-Fried, is set to take on the company's assets after winning a bankruptcy auction. After several rounds of bidding, FTX's U.S. subsidiary was selected as the highest bidder for Voyager's assets, the companies said in a statement late Monday. The bid was valued at roughly $1.4 billion, a figure that includes $1.3 billion for the fair market value of Voyager's digital assets, plus a $111 million "additional consideration" in anticipated incremental value. The sale of Voyager's assets to FTX U.S. is dependent on a vote by creditors, as well as "other customary closing conditions," according to the statement.

☆ Personal finance expert and 'Financial Grownups' podcast host Bobbi Rebell shares her top personal finance books for money security and preparing for retirement
▼ + stars: | 2022-09-24 | by ( Jennifer Streaks | ) www.businessinsider.com time to read: +6 min

Rebell, who has previously worked in various reporter roles, specializes in personal finance topics. "I was always fascinated with money — but from a personal finance perspective — so I took the leap to get into financial journalism," Rebell tells Insider. "I found that all of the financial news coverage focused on the economy and the stock market, but I knew there was a place for personal finance," Rebell says. "I was offered the opportunity to write a personal finance column and it really resonated with readers." Here are her four favorite personal finance books that will help you become a smarter investor.

☆ TSX falls by most in 3 months, C$ slides as oil rout weighs
▼ + stars: | 2022-09-23 | by ( Fergal Smith | ) www.reuters.com time to read: +3 min

The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended down 521.70 points, or 2.8%, at 18,480.98, its biggest decline since June 16 and its lowest closing level in more than two months. Wall Street's main indexes also closed sharply lower but not as much as the Toronto market. read moreThat added to pressure on the Canadian dollar. "While yields can continue to move up you are seeing a coupon that will at least absorb some of that."

☆ Ex-Cravath lawyer Andy Klein wants to raise $5 million for his new startup. Here's his pitch to get the Big Law lawyers who use his company's tech to also invest.
▼ + stars: | 2022-09-21 | by ( Jack Newsham | ) www.businessinsider.com time to read: +5 min

His company Reynen Court is now looking to raise $5 million using a provision of the JOBS Act. More recently, Klein, who lives in Amsterdam, has been growing Reynen Court. The company launched in 2018 with financial backing from a consortium of large law firms, including Latham & Watkins and Clifford Chance. Klein said Reynen Court really took off once he was able to persuade 20 of the world's largest law firms to begin using the platform. If the offering succeeds, Reynen Court expects to go forward with a series B fundraising next year, Klein said.

☆ A 39-year-old who owns 21 rental homes and recently quit his 9-to-5 after building his real estate portfolio up for 18 years stresses the importance of playing the long game and taking a conservative
▼ + stars: | 2022-09-21 | by ( A.J. Cohen | ) www.businessinsider.com time to read: +10 min

He's built his portfolio over 18 years and stresses the importance of building up sustainably. He prefers fixer-upper properties and invests a lot in his real estate investments. He talks about his real estate investing journey online under the moniker of The Frugal Gay, instructing other aspiring real estate investors as to how he built up his portfolio. Being in the real estate space is something that Brickman actively enjoys. "I really like transforming [my properties]," Brickman said, adding that his "hardest project" was the former home of a hoarder.

☆ Russia's early resilience to sanctions is fading - its economy is on the back foot and Moscow could soon lose its place among the world's energy superpowers.
▼ + stars: | 2022-09-20 | by ( Phil Rosen | ) www.businessinsider.com time to read: +7 min

Today, though, I'm homing in on another front in the global markets story — specifically, Russia. Official customs data showed China spent a record-breaking $8.3 billion importing Russian oil products, gas, and coal in August. "What happens is that [isolationism] reduces the number of products that [Russia] can buy," Jay Zagorsky, a markets professor at Boston University, told Insider. They told Insider the exact books that got them started on the path to building wealth — see their list of four reads here. That's according to Bank of America analysts, who wrote Monday that global markets will remain strained heading into next year thanks to a variety of factors.

Let's break down some of the myths around real estate as an investment that can mislead you — and in the process, show why real estate isn't a prerequisite for building assets. Real estate isn't always a good investment (or an investment at all)"Always" and "never" don't have a place in a savvy investor's vocabulary. Insider's Featured Real Estate Investing Platforms FundriseYieldstreet Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. You don't have to purchase a property to invest in real estate, anywayNone of this is to say that buying real estate is a bad move or won't work out in your favor. By investing in an REIT, you invest in a company that professionally buys, sells, and manages real estate properties for profit.

But whatever your feelings toward Elizabeth, it’s clear that the institution of the British monarchy is far from benevolent. Meanwhile, the exact worth of the British monarchy is very difficult to calculate. The Sunday Times' Rich List calculated the queen’s personal net worth as 370 million pounds (more than $420 million), while the author and royal expert David McClure estimated it at 400 million pounds (around $460 million). In 2021-2022, the royal household’s financial report calculated this as 86.3 million pounds ($98.5 million). (According to the BBC, this portfolio generates around 20 million pounds a year in profits.)

☆ A married couple with a 47-unit real estate portfolio worth $19 million share the top 4 books that got them started on the path to building wealth
▼ + stars: | 2022-09-18 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +7 min

Today, Kenny Simpson and Krystle Moore have amassed a $19 million, 47-unit real estate portfolio. They share their four top book recommendations to help aspiring real estate investors. These cover wealth building, money-saving tax strategies, negotiating, and deal making. Before Kenny Simpson and Krystle Moore met in late 2008, both had previously harbored separate real estate investing ambitions. "If you're thinking about getting into real estate, you need to read 'Rich Dad Poor Dad.'"

Read our review Read Our Review A looong arrow, pointing rightBottom line: Ally Invest Robo Portfolios is ideal for hands-off investors in search of automated ETF portfolios without fees. Ally Invest Robo Portfolios: Overall RatingFeature Insider rating (out of 5) Fees 5.00 Investment selection 4.25 Access 4.03 Ethics 4.50 Customer service 5.00 Overall score 4.56Is Ally Invest Robo Portfolios right for you? Ally Invest Robo Portfolios is an Ally Financial-affiliated automated account offering investing without fees for US residents. Ally Invest Advisors, Inc. manages the account and is in turn a subsidiary of Ally Invest Group, Inc. Read our review Read Our Review A looong arrow, pointing rightAlly Invest Robo Portfolios vs. FidelityAlly Invest Fidelity Investments Min.

Most luxury brands could theoretically stop marketing since they can’t produce goods fast enough to meet current demand, but smart marketers are spending more to build long-term equity, Mr. Sproule said. “There’s no filtering, it’s direct-to-consumer, and we think that’s how consumers want to hear from luxury brands,” said Jeff Curry, vice president of marketing, communications and product, in describing Lucid’s marketing strategy. About 300 people who preordered the $300,000 Aston Martin 2022 V12 Vantage sports car attended dinner at the company's main factory in May. Executives said these events for existing customers and even paid events double as marketing functions, because they have the potential to raise luxury brands’ profiles among wealthy consumers. Separately, Aston Martin held a black-tie dinner for people who purchased the 2022 edition of its V12 Vantage sports car.

☆ Housing wealth drops as tappable equity falls
▼ + stars: | 2022-09-09 | by ( Diana Olick | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHousing wealth drops as tappable equity fallsCNBC's Diana Olick joins 'The Exchange' to discuss the decrease overall household wealth as home prices fall.

☆ Homeowners lose wealth as rising interest rates weigh on home values
▼ + stars: | 2022-09-07 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

Some homeowners are losing wealth as high mortgage rates weigh on home values, at least on paper, as the once red-hot housing market cools quickly. From April through July, San Jose, California, lost 20% of its tappable equity, followed by Seattle (-18%), San Diego (-14%), San Francisco (-14%) and Los Angeles (-10%). Current borrowers, on average, owe just 42% of their home's value on both first and second mortgages. There are, however, about 275,000 borrowers who would fall underwater if their homes were to lose 5% of their current value. Even with a universal 15% decline in prices, negative equity rates would still be nowhere near the levels seen during the financial crisis, according to the report.

☆ How Jay-Z and Jack Dorsey's Bitcoin Academy provides financial inclusion and breaks down barriers of inequity
▼ + stars: | 2022-09-07 | by ( John Lynch | ) www.businessinsider.com time to read: +16 min

Insider profiled Jay-Z and Jack Dorsey's Bitcoin Academy at the conclusion of its program for Marcy Houses in Brooklyn. For Marcy resident Mariela Regalado, The Bitcoin Academy represented a continuation of an altruism she had seen from Jay-Z firsthand. Lamar Wilson teaching at The Bitcoin Academy. Following the conclusion of its summer courses at Marcy Houses, The Bitcoin Academy is "looking to expand to other neighborhoods soon," the program said. The over 350 people who attended The Bitcoin Academy classes let us know that this education is important to them - and that it matters.

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A Registered Investment Advisor (RIA) is a professional firm that manages the assets of clients and offers investment advice. During your search, you may have learned about Registered Investment Advisor (RIAs). And how does a Registered Investment Advisor differ from all those other folks offering financial advice? What is a Registered Investment Advisor (RIA)? What does the "registered" in Registered Investment Advisor mean?

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