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☆ Wealthy millennials and Gen Z are redefining philanthropy
▼ + stars: | 2024-10-10 | by ( Robert Frank | ) www.cnbc.com time to read: +3 min

Wealthy millennials and Gen Zers are redefining the world of charitable giving, seeing themselves more as activists than donors, according to a new study. Older donors give from of a sense of responsibility. Those over the age of 44 were more than twice as likely to give due to "obligation" than younger donors. Those under 43 were more likely to cite self-education and the influence of their social circle as drivers of their philanthropy. The younger wealthy are still building their fortunes and inheriting their wealth, so they're more likely to give their time and help fundraise.

Persons: Robert Frank, millennials, Zers, Gen Xers, Dianne Chipps Bailey, fundraise, Bailey, They're Organizations: Bank of America Private Bank

☆ Where are Gen Z's tech founders?
▼ + stars: | 2024-10-09 | by ( Amanda Hoover | ) www.businessinsider.com time to read: +10 min

So where are Gen Z's tech founders? Gen Z founders and would-be founders are stepping into a vastly different tech world from that of their predecessors — a world where launching a unicorn is far more difficult, and publicly scrutinized, than it was for the garage-band generation of Jobs and Gates. Gen Z is coming of age in an era when the same Big Tech companies are diffuse and dominant. In other words, millennial founders ran so that Gen Z founders could walk. Perhaps we won't see Gen Z founders standing before a crowd and unveiling their latest shiny products anytime soon.

Persons: Bill Gates, Steve Jobs, Jeff Bezos, Gen X, Sergey Brin, Elon Musk, Travis Kalanick, Peter Thiel, Millennials, I'm, Zuckerberg, Whitney Wolfe Herd, Brian Chesky, Elizabeth Holmes, Sam Bankman, Gen, aren't, Zers, Jerry Neumann, millennials, Uber, Z, There's, Neumann, Kimberly Eddleston, they've, Adam Neumann, Holmes, Alexandra Debow, that's, Alexandr Wang, Wang, They've, Ibrahim Rashid, Rashid didn't, COVID, Rashid, Martin Shkreli, Forbes, Alexis Barreyat, Barreyat, Julian Kage, Kage, they'd, Debow, It's, Eddleston, Emma Chamberlain's Organizations: Boomers, Columbia University, Big Tech, Northeastern University, Facebook, New York University, MIT, Wired, Forbes, University of Chicago, Deloitte, Harvard, Harvard Business Locations: swaggering, Silicon Valley

☆ Ambient AI might be listening in on your next doctor's appointment: What it is, and what it means for patients
▼ + stars: | 2024-10-08 | by ( Renée Onque | ) www.cnbc.com time to read: +4 min

There might be another listener in the room at your doctor's appointments now or in the near future: ambient AI. Ambient AI is a technology that records and automates transcripts of conversations in real time — like a scribe. Over 15,000 patient visits were conducted "using this type of ambient AI technology to augment the documentation," he says. Seliby Perkins is prepared for patients to either decline the use of ambient AI during their visits or have a lot of questions about how it works. Prior to implementing ambient AI at TGH, the hospital set up an AI governance group with physicians, ethicists and experts in compliance, risk, privacy and security.

Persons: Nishit Patel, Patel, LaTasha Seliby Perkins, Seliby Perkins Organizations: Tampa General Hospital, Georgetown University, Tampa General Hospital physicians Locations: Tampa

☆ Baby Boomers are living longer than previous generations but have worse health, study finds
▼ + stars: | 2024-10-08 | by ( Rosa Rahimi | ) edition.cnn.com time to read: +3 min

London CNN —Baby Boomers may be expected to live longer than their predecessors, but a recent study has found that they are more likely to suffer from worse health than previous generations. It covered several generations, including the Greatest Generation (born before 1925) and Baby Boomers (born between 1946 and 1959), according to the study. Younger post-war cohorts, like Generation X, are also at risk of worse health than the generation preceding them, Gimeno said. “Generation X were more likely to be obese, have diabetes, and be in poor mental health than Baby Boomers in their 40s,” said Gimeno. The analysis of 135,000 people living in England suggested that although they’re living longer, their lives weren’t necessarily healthier.

Persons: ”, Laura Gimeno, Boomers, Gimeno, X Organizations: London CNN, University of Oxford and University College London, UCL, Boomers, CNN, Gerontology, Baby Boomers Locations: United States, England, Europe

☆ Millennials and Gen X Are Figuring Out What to Do With Boomers' Stuff
▼ + stars: | 2024-10-07 | by ( Emily Stewart | ) www.businessinsider.com time to read: +15 min

AdvertisementIn short, boomers love stuff, and not just their stuff. They held on to their parents' stuff when they inherited it, and a lot of them are sitting with their kids' stuff in their attics now, too. The market value of the object and the sentimental value don't always go hand in hand. "I often emphasize the idea that the market value of the object and the sentimental value don't always go hand in hand," he said. Remember, it takes a lot of stuff to live a full life — and it's hard to let go of it.

Persons: Dale Sperling's, Sperling, it's, they're, It's, they've, Gen Xers, Gen Zers, Sarah Hersh, Ben Hersh, — you'll, Mary Kay Buysse, They're, Hummel, Mindy Godding, you've, Godding, Elizabeth Hirsh, Wen Stone, Janelle, Ben Miller, they'll, Miller, Stephanie Preston, Buysse, we've, —, Janelle Stone, I've, that's, she's, doesn't, downsizers, Cameron Huddleston, Let's, Emily Stewart Organizations: Facebook, National Association of Senior, Boomers, University of Michigan, eBay, Business Locations: New York City, New Jersey, North Carolina, Dallas, downsizers, New York

☆ Earnings season kicks off after a blowout jobs report upended investors' hopes of another interest-rate cut
▼ + stars: | 2024-10-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

Tech: Amazon's Prime Day kicks off tomorrow, and there are some deals on surprising items . Amazon's Prime Day kicks off tomorrow, and there are some deals on . Getty Images; Jenny Chang-RodriguezWe've already got one indication companies are in good shape: Friday's blockbuster jobs report . But another blowout report — 250,000 jobs added and at least 4% wage growth — could lead the Fed to reconsider its easing policy. In addition to the usual Prime Day gadgets, like TVs and Airpods, Amazon is dishing out deals on tents, pocket knives, and chainsaws.

Persons: —, Jenny Chang, Rodriguez, Matthew Fox, we'll, Rodriguez We've, there's, Philipp Carlsson, Chelsea Jia Feng, haven't, Donald Trump's, Tyler Le, John Tomac, that's, boomers, They're, Gen Xers, Gen Zers, Kamala Harris, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Grace Lett, Amanda Yen, Milan Sehmbi Organizations: Business, Service, . Tech, Amazon's, Pfizer, Wall Street, JPMorgan, Wells Fargo, Big Tech, Getty, Fed, Boston Consulting, Trump Media, Microsoft, BI, pharma, CBS, ASEAN Locations: Israel, fintech, Vientiane, Laos, New York, London, Chicago

☆ What it's like to launch a startup with friends, according to 3 Gen Z cofounders who created a childcare startup together
▼ + stars: | 2024-10-07 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +6 min

"Sasha was basically our mom's third son," Daniel Andrews told Business Insider. Around 60% of Gen Z founders who were surveyed had involved their friends in the business, compared to 42% of millennials and 21% of Gen X and boomers. Advertisement"We're each other's biggest fans, but we're also each other's biggest critics," Daniel Andrews said. "Being a first-time founder, it is incredibly beneficial to work with friends and family who can step up and take on that work. "If you have friends that you find that are like slowing you down, or like trying to distract you, or other things, those might not be the best friends to launch a startup with," Daniel Andrews said.

Persons: Sasha Reiss, Andrews, Zs, —, Daniel, Josh Andrews, Sasha, Daniel Andrews, Reiss, Japan —, Gen, X, we're, We've, I've, it's, we've Organizations: Service, Business Locations: Mexico, Brazil, Korea, Japan

☆ Issa Rae Reveals Skills That Made Her Profitable, Red Flag in Business
▼ + stars: | 2024-10-06 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com time to read: +9 min

"Insecure"/HBO"I'm a coffee shop girl," the LA native told Business Insider in September during New York Fashion Week. I'm braving myself for the day," Rae continued. "A red flag is just the sensitivity; you can always tell when people aren't being honest with you." Advertisement"The first day will always be spent procrastinating or finding things wrong and reasons I can't start, and I need to allow for that day," Rae added. "So, I recognize the perfect amount of time is three days, and by that third day, I'm off."

Persons: Issa Rae's, Issa Dee, It's, millennials, Rae, Justin Bieber, Chloe, Halle, Issa Rae, Rae friended, Barbie, Max, Gallo, Hannah Diop, I'm, I've, Deniese, that's, Deniese Davis, Davis, Rae's, She's, Talitha Watkins, she's, Z, it's Organizations: LA, Business, New York, YouTube, Facebook, Atlanta Records, WarnerMedia, Sienna Naturals Locations: Inglewood, Los Angeles, The, SoHo, New, Hilltop, California, San Francisco, LA, Miami

☆ Insider Today: Consultants hit the exits
▼ + stars: | 2024-10-06 | by ( Matt Turner | ) www.businessinsider.com time to read: +5 min

This post originally appeared in the Insider Today newsletter. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This week's dispatchHot jobs reportgradyreese/Getty, Tyler Le/BIThe US economy added way more jobs in September than expected. AdvertisementThe jobs report on Friday showed 254,000 jobs added, way ahead of the 147,000 expected, while unemployment dropped to 4.1%. Here's what it all means:Rates: The strong job numbers likely mean a longer wait for lower rates.

Persons: —, Tyler Le, Kamala Harris, Donald Trump, Joe Biden, Harris, Alyssa Powell, Marc Rowan, Apollo, Rowan, Natalie Ammari, Scooping, Van Cleef, Morgan Stanley Organizations: Business, Service, UC Berkeley, Fed, Dow, Deloitte, Accenture, Reuters, Apollo Management, Apollo, JPMorgan Locations: Zegna, Bridgewater

☆ There's a 'hidden truth about American-style capitalism' that investors need to know, Josh Brown says
▼ + stars: | 2024-10-06 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +7 min

Josh Brown Photo: Duncan HillJosh Brown once had this idea that in order to be a financial advisor, you needed to be buttoned up and fit a particular mold. Throughout his new book, "You Weren’t Supposed To See That: Secrets Every Investor Should Know," Brown encourages investors to look beyond the surface level of financial advice you see in traditional and social media. "The hidden truth about American-style capitalism is that if everybody is good all at once, the whole thing breaks down. Gen Z doesn't need financial planning advice. 'Gen Z doesn't need financial planning advice'

Persons: Josh Brown, Duncan Hill Josh Brown, Brown, Joshua Brown, Ana Teresa Solá, James Moock, Gen, They're, they've, X, Let's Organizations: CNBC, Ritholtz Wealth Management, Finance, New York Stock Exchange, ATS Locations: New York City

☆ A major curveball in retirement preparedness: divorce
▼ + stars: | 2024-10-05 | by ( Allie Kelly | Juliana Kaplan | ) www.businessinsider.com time to read: +10 min

Monthly Social Security checks aren't enough for most baby boomers to get by, further fueling a retirement crisis. A prenuptial agreement can be helpful, but it typically doesn't protect wealth built after the couple ties the knot, like retirement savings. Men's monthly retirement incomes are nearly $600 more than women's — $2,610 to $2,042 — and they're more likely to have a balance in a retirement account. Overall, divorced women like Clark see lower monthly retirement incomes than their male counterparts — and peers who have remarried. One of Mintzer's greatest divorce regrets is that she didn't safeguard her retirement savings.

Persons: —, Libby Mintzer, Mintzer, she's, Melody Evans, Evans, Roth, couldn't, didn't, Kathryn Clark, Clark, Clark didn't, Clark's, it's Organizations: Service, Social Security, Social, Gerontology, —, Roth IRA, SNAP, allisonkelly Locations: Florida, Tampa, California's Bay

☆ How immigration reform will supercharge the labor market, reduce national debt by over $600 billion in the next 2 decades: Research Affiliates CIO
▼ + stars: | 2024-10-04 | by ( Christine Ji | ) www.businessinsider.com time to read: +5 min

Research Affiliates CIO Chris Brightman believes immigration reform is needed to boost the economy. One proposed policy is projected to energize the labor market and liquidate $0.6 trillion in debt. But to one chief investment officer, immigration policy isn't a matter of political debate — it's an economic nonnegotiable. A declining population brings with it a declining labor force. Immigration policy solutionsBrightman sees the need for more friendly immigration policies such as providing permanent residency to immigrants who graduate from US universities.

Persons: Chris Brightman, —, Brightman, they're Organizations: Research, Service, Social Security, Medicare, Immigrants, Penn Wharton Budget, Immigration Locations: Japan, Korea, Taiwan, Canada, New Zealand, Australia, outlays

☆ Red Lobster is a mess. Here’s why the new 35-year-old CEO wanted the job anyway
▼ + stars: | 2024-10-04 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +10 min

Red Lobster's new chief executive Damola Adamolekun during an interview with CNN at a Red Lobster in Long Island, New York, last week. CNNIn Springfield, he first ate at a Red Lobster with his parents and two siblings after church one Sunday. Red Lobster was where he, like millions of Americans, experienced eating lobster and cracking crab legs for the first time. Beyoncé sang about taking a romantic partner to Red Lobster in her 2016 hit song “Formation.”After Red Lobster filed for bankruptcy, Flava Flav ordered the whole menu to try to save the company. Red Lobster closed more than 100 restaurants this year, including a location in Orlando, Florida, shown this year.

Persons: Damola Adamolekun, “, ” Adamolekun, It’s, ”, Adamolekun, Bill Darden, Mills, Chris Rock, Nicki Minaj, Beyoncé, Flav, “ Mr, ” —, Kevin Lamarque, Clarence Otis Jr, RJ Hottovy, Hottovy, Adamolekun’s, ” Hottovy, ’, Red, Phelan M, can’t, John Paulson, Paulson, P.F, Chang’s, Morgan McClure, Fortress, ” McClure, Brandon Bell, isn’t Organizations: New, New York CNN, CNN, Fortress Investment, Fortress, Red, Boomers, Darden, Thai Union Group, Former Red Lobster, Thai Union, As Thai Union, Thai, Brown University, Harvard Business School, Paulson & Co Locations: New York, Long, , New York, Nigeria, Zimbabwe, Netherlands, Springfield , Illinois, United States, Long Island , New York, Springfield, America, Alexandria , Virginia, Olive, Thai Union, Thai, Orlando , Florida, P.F, Chang’s, Columbia , Maryland, New York City, Scottsdale , Arizona, Austin , Texas

☆ Looking to retire soon? 10 most boomer-friendly cities to buy a home.
▼ + stars: | 2024-10-02 | by ( Christine Ji | ) www.businessinsider.com time to read: +3 min

States such as North Carolina and Florida remain popular among retirees for tax benefits. Retirees also have their eyes on cities in North Carolina. North Carolina offers strong healthcare facilities, a pleasant climate, and does not tax income from Social Security. Only 0.25% of local boomers bought a home in the San Francisco metro area in 2023 for a median price of $1.55 million. AdvertisementBelow, we list the top 10 most boomer-friendly cities to buy a home, the percentage of local boomer homebuyers, and the total number of boomer mortgages originated in 2023.

Persons: SmartAsset, —, Freddie Mac Organizations: Service, Sunshine, North Carolina . North Carolina, Social Security Locations: North Carolina, Florida, North Carolina . North, San Francisco

☆ Tonight's vice presidential debate matters a lot more this time around
▼ + stars: | 2024-10-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, what you need to know about tonight's vice presidential debate , and why it's worth paying attention to. The big storyUp for debateDrew Hallowell/Getty Images; Andrew Harnik/Getty Images; Brandon Bell/Getty Images; Rebecca Zisser/BIOhio Sen. JD Vance and Minnesota Gov. ET for an uncharacteristically important vice presidential debate , write Business Insider's Brent D. Griffiths and John L. Dorman. Thanks to a hot streak at Miu Miu, Prada has done what few luxury retailers have been able to do this year: grow. In short, it doesn't get trendier than Miu Miu — and trendy is good for business.

Persons: —, Drew Hallowell, Andrew Harnik, Brandon Bell, Rebecca Zisser, JD Vance, Tim Walz, Insider's Brent D, Griffiths, John L, Dorman, Donald Trump, Kamala Harris aren't, Vance, Walz, hasn't, Brent, Trump's, There's, Harris, Joe Biden's, Matt Stroshane, Tyler Le, Blackstone, Getty, Justin Sullivan, Nvidia's, Jensen, Mira Murati, Natalie Ammari, That's, Miu Miu, Prada, Jimmy Carter, Mark Rutte, Jens Stoltenberg, Claudia Sheinbaum, Elliott Hill, Mike Johnson, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Business, Service, Microsoft, Getty, Ohio Sen, Minnesota Gov, CBS, Netflix, Republican, UBS, Venture, Murati, Consulting, Nike, NYSE Locations: Minnesota, Silicon, New York, London

☆ Boomers Are Selling Their Small Businesses; Millennials Are Buying
▼ + stars: | 2024-10-01 | by ( Ann C. Logue | ) www.businessinsider.com time to read: +12 min

Sure, many small businesses aren't glamorous — think dental practices or accounting firms — and they involve long hours and unpredictable market forces. The US Small Business Administration said in July that there were nearly 35 million small businesses in the US. Fewer than two-thirds of small businesses in the US in 2022 were profitable, and over a million businesses of all sizes close each year. Traditionally, small businesses were family businesses, and the eldest male child was expected to take it over when the patriarch was ready to step down. Buying up small businesses allows people without wealthy boomer parents to cash in on the trillions of dollars of wealth the generation is sitting on.

Persons: George Coulam, Coulam, Forrester, Nancy Forster, Holt, Ernst & Young, Steve Holt, Shaw, Tenney, Paul, Helen Reagan, Forster, who's, Jennifer, Neil Gutekunst, Edie Ellis, Ellis, BizBuySell, you've, Dave Specht, Specht, they've, " Forster, She's, PwC, Norm Dinkel, Brian Brogan, — he's, hasn't, it's, Jennifer Gutekunst, boomer Organizations: Texas Renaissance, NewEdge Wealth, Ernst &, Shaw, University of Rhode, US Small Business Administration, Small Business Administration, Drucker School, Family Business, Claremont Graduate University, Wall, American Investment Council, Saint Joseph's University Locations: Texas, America, Sacramento , California, Maine, Orono, Chicago, Washington, Pennsylvania

☆ The job market is rough right now. 7 young professionals share what they think sets them apart.
▼ + stars: | 2024-09-30 | by ( Maria Noyen | Mykenna Maniece | ) www.businessinsider.com time to read: +3 min

Many cited soft skills, including having patience and the ability to speak with different people. And yet, those we consider pioneers and leaders in the tech, finance, and business industries almost always respond with soft skills. In October 2023, Business Insider's Tim Paradis reported that soft skills have become increasingly in demand in the years following the COVID-19 pandemic. AdvertisementIn short, it's young professionals who'll be setting the standard of success at work for years to come. Here's what they said — and how their answers reflect qualities business leaders also emphasize.

Persons: —, Warren Buffett, Mark Zuckerberg, it's, Tim Cook, there's, Tim Paradis, Norman Bacal, Paradis, millennials, Glassdoor, Amanda Hoover, who'll, Gen Zers Organizations: Service, Labor Statistics Locations: NYC

(Harris, 59, is herself among the youngest baby boomers, born in 1964, the last year that’s considered part of the generation.) Smith and her husband have struggled to stretch their monthly Social Security income of around $4,000 as their costs have increased. The average Social Security check was around $2,000 at the start of the year and adjusts annually for inflation. About half of Social Security recipients make enough income to have their benefits taxed, according to the Social Security Administration. Polls show a tightening race between Trump and Harris among seniors, with Harris appearing to pick up support compared to Biden.

Persons: Teresa Smith, Smith, Donald Trump, Joe Biden, Kamala Harris, she’s, “, he’d, “ He’s, Harris, that’s, Mitt Romney, Barack Obama, ”, Bob Ward, Fabrizio Ward, Biden, hasn’t, ” Trump, Medicare —, Walz, Seth Schuster, Trump, Phil Martin, Martin, Pam, “ Trump’s, Denise Meyer, ” Meyer, Kamala, Gary Schlossberg, Dick Edgecombe, Edgecombe, we’re, Gary Allen, Allen, Kristen Soltis Anderson Organizations: White House, Democratic, Trump, Republicans, Biden, AARP, Social Security, Social, Social Security Administration, Medicare, Pew Research Center, NBC, FedEx, Wells, Investment Institute, Republican, “ Locations: Georgia, North Carolina, Charlotte, Wells Fargo, “, Pennsylvania, Pittsburgh, ”, Michigan

☆ These real estate stocks top Bank of America’s buy list
▼ + stars: | 2024-09-26 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Investors looking to get in on the recent rise in real estate stocks should focus on quality, according to Bank of America. The real estate sector of the S & P 500 has been moving higher over the past month or so and is now up 10% year to date, after being in the red earlier this year. Real estate investment trusts are also an income play, often paying out attractive dividends. .SPLRCR YTD mountain S & P 500 Real Estate Sector The Federal Reserve started its rate-cutting cycle last week, slashing the federal funds rate by 50 basis points. Health-care real estate is a play on the aging of America , which will see more people seeking medical services and senior housing, Hall said.

Persons: Jill Carey Hall, REITs, Hall, Jeffrey Spector, Welltower, Spector Organizations: Bank of America, Real, Federal Reserve, Communities, American, Federal Realty Investment Trust Locations: America, U.S

☆ 49% of workers think they can meet their retirement goals — 35% say they will need over $1 million to retire comfortably
▼ + stars: | 2024-09-25 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

Overall, 35% of Americans believe they will need more than $1 million to retire and live comfortably, according to a new report by Bankrate.com. Older generations closer to retirement age are more likely to regret not saving for retirement early enough, the CNBC survey found. More than any other money misstep, not saving for retirement early enough is the biggest financial regret for 22% of Americans, according to another recent report by Bankrate. The retirement savings gapOther reports show that a retirement savings shortfall is weighing heavily on Americans, especially as they approach retirement age. "They are focused on their health and financial well-being, but many are at risk of not achieving a financially secure retirement."

Persons: Bankrate, Gen Xers, Zers, Jacqueline Reeves, you'll, Reeves, they're, Catherine Collinson Organizations: Fidelity Investments, Bankrate.com, CNBC, Bryn Mawr Capital Management, Pew, American, Transamerica Center, Retirement Studies, Transamerica Institute Locations: U.S, Bryn Mawr

☆ Boomers Regret Not Taking Sick Days, Time Off From Work Like Gen Z
▼ + stars: | 2024-09-25 | by ( Emily Stewart | ) www.businessinsider.com time to read: +11 min

"I was sort of raised that you do a hard day's work and you're honest, and things will work out for you — it's a two-way street between you and your employer," he says. After publishing the article about Gen Z's predisposition to take time away, I got a lot of feedback from older generations. Some of it was predictable "the kids these days" complaints lamenting that nobody wants to work nowadays, that work ethic has disappeared, etc. "When you work for yourself, you're working for one of the biggest jerks you've ever worked for," he said. None of the boomers I talked to was in favor of people calling out of work willy-nilly.

Persons: Ron Sherman, Sherman, Gen, youngs, wasn't, Zoomers, who's, they're, It's, millennials, David Johnston, Johnston, You've, he'd, There's, Dave Kotwitz, Kotwitz, Charlie Stuart, He'd, David Vequist, Paul Miola, Miola, boomer, Xers, Chris Woods, they'd, Woods, that's, willy, nilly, it's, you'd, Emily Stewart Organizations: American, Silvis, Business Locations: Wisconsin, Texas, Charlotte , North Carolina

☆ China's worsening relationship with US businesses could put AI's chip supply on shaky ground
▼ + stars: | 2024-09-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, China isn't proving to be the economic promised land US companies once hoped for . US-China relations have been on shaky ground for a while, to put it mildly. But despite the growing animosity, US corporations' push to sell things to Chinese consumers has been a middle ground everyone can agree on. AdvertisementTaiwan Semiconductor Manufacturing Company makes vital hardware components for most the world's chip companies, including industry giant Nvidia. Nvidia CEO Jensen Huang recently said his company has a backup plan if things were to kick off in Taiwan .

Persons: —, Jamie Dimon, Tyler Le, Insider's Linette Lopez, It's, that's, Kiran Ridley, Stringer, Getty, Jensen Huang, Huang, Alyssa Powell, Trump, Harris, isn't, Howard Marks, Marks, Rebecca Noble, Vance, Tom Brady, Jeff Bezos, it's, Ryan Routh, Donald Trump, Dan DeFrancesco, Jordan Parker Erb, Jack Sommers, Amanda Yen, Grace Lett, Milan Sehmbi Organizations: Service, Business, China Xinhua News Agency, Getty, Apple, Nike, Huawei, Taiwan Semiconductor Manufacturing Company, Nvidia, Billionaire, Economic Forum Locations: Washington ,, China, China . US, Washington, Beijing, Taiwan, USA, Florida, New York, London, Chicago

☆ We asked millennials and Gen Zers for their top hidden-gem travel destinations. Here's what they said.
▼ + stars: | 2024-09-22 | by ( Maria Noyen | Mykenna Maniece | ) www.businessinsider.com time to read: +1 min

As more young people prioritize travel, we took to the streets of NYC to learn where they're going. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementDepending on where you're reading this, you might have noticed a chill in the morning air or leaves turning a golden shade of brown. But while summer is coming to an end, people's travel plans are not — and that's especially true for younger generations.

Persons: —, Gen Zers, Gen Xers Organizations: Service, McKinsey, Business Locations: NYC, Turkey, Vietnam

☆ A California Gen Xer who retired early to Colombia on a $3,423 monthly pension explains how much he pays for housing and other bills
▼ + stars: | 2024-09-22 | by ( Allie Kelly | ) www.businessinsider.com time to read: +3 min

Read previewTo Jeremy Teitelbaum, the weather in Pereira, Colombia, feels like "eternal spring." According to documents reviewed by Business Insider, he lives on his $3,423 monthly teaching pension. According to the Social Security Administration, over 700,000 US workers retired abroad in 2022, the latest available data. This trend comes as millions of baby boomers are living on fixed Social Security or pension incomes with limited savings. Once he begins collecting Social Security, Teitelbaum said his teaching pension will be reduced.

Persons: —, Jeremy Teitelbaum, Teitelbaum, Teitelbaum hasn't, Pereira — Organizations: Service, Business, International, Social Security Administration, Security Locations: Pereira, Colombia, San Luis Obispo , California, America, Texas, Panama , California, Italy, Minnesota, Mexico, California, Machu Picchu, Buenos Aires, Los Angeles

☆ Baby boomers have a ton of their wealth tied up in stocks and housing. Here's why that's a risk to the economy.
▼ + stars: | 2024-09-21 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +7 min

Khurana thinks what has made boomers the wealthiest generation — stocks and housing — also makes them a risk to economic stability. AdvertisementSuch a scenario is an '"underappreciated risk," he said, given how much boomers' spending habits have fueled economic growth in recent years. The demographic spends around $548 billion a year, more than any other generation, according to a report from marketing research firm Epsilon. AdvertisementBroken down by each generation's holdings of property and stocks, boomers accounted for 42% of all real estate ownership and 54% of all corporate equity and mutual fund ownership. That's not to say boomers will cause the next recession, but the risk during a recession is dialed up under the current paradigm, Khurana said.

Persons: —, America's, Brij, Khurana, boomers, they've, John Hussman, That's Organizations: Service, Wellington Management, Business, McKinsey & Company, New York Fed, Epsilon, New, Boomers, Federal Reserve, Governors Boomers, Governors Locations: New, New York, Florida and Texas

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