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☆ 'Hamilton' star Anthony Ramos lived in New York City on $420 a week when the show first started: 'I was struggling'
▼ + stars: | 2024-11-25 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

It's an obstacle Grammy-winning actor, singer and songwriter Anthony Ramos faced during his time in the cast of the hit Broadway musical "Hamilton." Ramos was one of the show's original cast members, playing the dual roles of John Laurens and Phillip Hamilton. "Getting that first paycheck was great because I was getting paid to do something again, to do something I loved, but I was still struggling in New York," Ramos said. However, Ramos soon realized how expenses like taxes and manager and agent fees could quickly chip away at his earnings. "If you're an ensemble member, you're probably making $1,800 a week and then you get taxed on that," he said.

Persons: Anthony Ramos, Hamilton, Ramos, John Laurens, Phillip Hamilton, Vivian Tu, SoFi's Richer Organizations: Broadway Locations: New York

☆ I run a group for individuals worth at least $100 million. Our members want their kids to have purpose — and prenups.
▼ + stars: | 2024-11-25 | by ( Kelly Burch | ) www.businessinsider.com time to read: +5 min

R360 is a peer-to-peer networking group for people who have a net-worth of at least $100 million. There's a lot of concern about making sure children don't become spoiled or entitled. They don't want to hand over their wealth to their kids and have money go toward causes they don't support. AdvertisementThe adult children want to fill their parents shoesWe host a group for the adult children of our members. Families are transferring money over a lifetimeOur members aren't afraid to leave their children money.

Persons: Barbara Goodstein, didn't, They've, I've, they're Organizations: New Locations: New York City

☆ Michael Yoshikami: Don't see a 'massive bull rally' ahead as markets are getting ahead of itself
▼ + stars: | 2024-11-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMichael Yoshikami: Don't see a 'massive bull rally' ahead as markets are getting ahead of itselfMichael Yoshikami of Destination Wealth Management says it's time to 'take some profits' amidst this market rally. He also does not see 10-year interest rates moving below 4%.

Persons: Michael Yoshikami Organizations: Wealth Management

☆ Warren Buffett has advice for parents on inheritance planning
▼ + stars: | 2024-11-25 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

AdvertisementWarren Buffett shared advice on discussing inheritance with children in a nearly 1,500-word letter. Warren Buffett is sharing wisdom for parents: talk to your kids about their inheritance — before it's too late. Advertisement"When your children are mature, have them read your will before you sign it," Buffett wrote. in respect to testamentary decisions when you are no longer able to respond," Buffett wrote in the letter. Along with Melinda French Gates and Bill Gates, Buffett founded the Giving Pledge, a commitment for the world's billionaires to give the majority of their wealth towards philanthropy.

Persons: Warren Buffett, Buffett, they're, it's, Berkshire Hathaway, Susan Buffett, Howard, Peter, Susan, he's, jealousies, I've, Melinda French Gates, Bill Gates, Michael Bloomberg Organizations: Berkshire, Forbes

☆ Can Saudi Arabia keep pace with its ambitious mega-project spending spree?
▼ + stars: | 2024-11-25 | by ( Natasha Turak | ) www.cnbc.com time to read: +6 min

Digital render of NEOM's The Line project in Saudi Arabia The Line, NEOMIn Saudi Arabia's northwestern desert, a sprawling construction site replete with cranes and pile drivers sits encircled by a recently-built road. The changes come as the Saudi deficit grows and the outlook for oil demand, along with global oil prices, sees sustained lows. Construction for The Line project in Saudi Arabia's NEOM, October 2024 Giles Pendleton, The Line at NEOMThat begs the question: does Saudi Arabia have enough money to meet its lofty goals? Saudi Arabia has poured tens of billions into projects that have yet to hint of any financial returns." Saudi Arabia has an A/A-1 credit rating with a positive outlook from S&P Global Ratings and an A+ rating with a stable outlook from Fitch.

Persons: Prince Mohammed bin Salman, Saudi Arabia's NEOM, Giles Pendleton, Andrew Leber, Leber, Mohammed Al, Jadaan Organizations: Saudi, Public Investment Fund, CNBC, Tulane University, Saudi Finance, Fitch, —, P Global, Al Locations: Saudi Arabia, NEOM, Saudi, Neom, Saudi Arabia's, Riyadh

☆ Cramer's Lightning Round: Symbotic is a buy
▼ + stars: | 2024-11-25 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Symbotic's year-to-date stock performance. Stock Chart Icon Stock chart icon Tetra Tech's year-to-date stock performance. Stock Chart Icon Stock chart icon Linde's year-to-date stock performance. Stock Chart Icon Stock chart icon Brookfield's year-to-date stock performance. Jim Cramer's Guide to Investing Click here to download Jim Cramer's Guide to Investing at no cost to help you build long-term wealth and invest smarter.

Persons: Linde, it's, Jim Cramer's Organizations: Tetra Tech, Linde, Brookfield

☆ Warren Buffett just updated his will—you can learn from it, 'whatever your level of wealth,' says estate planning expert
▼ + stars: | 2024-11-25 | by ( Ryan Ermey | ) www.cnbc.com time to read: +4 min

Throughout his sparkling career as an investor, Berkshire Hathaway chairman Warren Buffett has become a leading role model for those looking to accumulate wealth. Buffett shared new details of his estate plan in a letter published on Monday, elaborating on how he intends to transfer the vast majority of his fortune to philanthropic causes. "As a general matter, if you do not have an estate plan, the state will provide one," Reynoso says. To avoid confusion — and to keep your loved ones out of a lengthy and expensive legal process — you'd be wise to put together a basic estate plan. How to estate plan like Buffett

Persons: Warren Buffett, Buffett, he's, I'm, hadn't, it's, Jose Reynoso, Reynoso, Powers Organizations: Berkshire Hathaway, Wall Street, Private Wealth, Buffett Locations: Berkshire

On the first trading day since Donald Trump chose the billionaire financier Scott Bessent as his pick for Treasury secretary, investors seem to be signaling they like the choice. Bessent does,” Paul Donovan, chief economist of UBS Global Wealth Management, wrote in a research note on Monday. The Key Square Group founder overcame serious opposition from some in Trump’s inner circle. On Wall Street, a document was circulated suggesting that his Key Square hedge fund had underperformed the booming markets. Bessent’s ascent is notable in that he doesn’t appear to have been on Trump’s radar during his first administration.

Persons: Donald Trump, Scott Bessent, ” Paul Donovan, Elon Musk, Howard Lutnick, Cantor Fitzgerald, Trump, Lutnick, Bessent, Mark Rowan Organizations: “, UBS Global Wealth Management, Key Square, Commerce Department, Apollo Global Management

☆ One of Trump's cabinet picks shows how making it easier to build homes is a rare point of bipartisan agreement
▼ + stars: | 2024-11-24 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

Doug Burgum, Trump's nominee for Secretary of the Interior and "energy czar," won praise from pro-housing advocates from both parties earlier this year when he made the case for denser, more walkable, mixed-use communities. Advertisement"He's been a champion of zoning reform and parking reform and transportation reform," Chuck Marohn, the founder of the urbanism nonprofit Strong Towns, told Business Insider. Doug Burgum — President-elect Donald Trump's pick to lead the US Department of Interior — reflects the growing bipartisanship around deregulating housing. At the same time, the housing shortage has begun to impact communities across the country rather than just large coastal metros. While Republicans use language about private property rights, free markets, and deregulation to make a case for YIMBY policies, Democrats talk about racial equity and environmental sustainability, Nolan Gray, research director for California YIMBY said.

Persons: Doug Burgum, Donald Trump's, Burgum, Chuck Marohn, it's, Doug Burgum —, US Department of Interior —, Scott Olson, Marohn, millennials, It's, Bryan Caplan, Nolan Gray, California YIMBY, Gray, Emily Hamilton Organizations: North Dakota Gov, homebuilding, US Department of Interior, George Mason University, Democrats, Republican Locations: Fargo, Bismarck, Strong, California

☆ Meet the typical billionaire. He's not exactly surprising.
▼ + stars: | 2024-11-24 | by ( Madeline Berg | ) www.businessinsider.com time to read: +3 min

If you're looking for a billionaire, you might as well be looking for a man in finance, trust fund, 6'5", blue eyes. AdvertisementMost — 87% — of billionaires are male, and have amassed their fortunes in different ways than the world's 431 female billionaires. While the majority of all billionaires, about 60%, are fully self-made, men are more likely to be than female billionaires. In fact, 76% of the world's female billionaires have inherited at least part of their wealth, compared to 35% of male ones. The interests of male and female billionaires follow suit: 71% of women billionaires count philanthropy as a top interest, while sports was the most popular one for male billionaires.

Persons: isn't, Elon Musk, Jeff Bezos, Altrata, maters Locations: New York City, United States, China, Germany

☆ Who told the Bros to start journaling?
▼ + stars: | 2024-11-24 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +4 min

AdvertisementBut journaling has been going mainstream as part of a daily wellness routine that prioritizes mental health. AdvertisementMost of the hustle bros I've seen talking about journaling don't describe a specific journaling method. Procopovich told me that he's been journaling for two years. AdvertisementVinny Brusco, a life coach and host of "The Council of Dudes Podcast," talks often about mental wellness and masculinity. "I think we are seeing a major shift in what mental health looks like in general, especially for men," he told Business Insider.

Persons: Instagram influencers, Greg Heffley, Apple, Andrew Huberman, Huberman, journaling, Thomas Procopovich, Andy Elliott, Procopovich, he's, He's, Vinny Brusco Organizations: MediaNews, Getty Images, Getty

☆ 12 tactics America's wealthiest use to save big on taxes, from putting mansions in trusts to stashing fortunes for a 1,000 years
▼ + stars: | 2024-11-23 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +12 min

Currently, individuals and married couples can gift or bequeath $13.61 million and $27.22 million, respectively, before a 40% federal estate tax kicks in. AdvertisementThe heirs don't own the trust assets but rather have lifetime rights to the trust's income and real estate. Any payout is also protected from estate taxes, even if the insured's estate and death benefit exceed the exemption. AdvertisementThis tactic can also be used to save on estate taxes by ultra-rich entrepreneurs who have already used their exemption but have less-wealthy parents who haven't. When the children inherit the assets, the federal estate tax doesn't kick in as long as the grandparents' estate does not exceed $27.22 million.

Persons: Trump, Robert Strauss, Weinstock Manion, Uncle Sam, Wrigley, Jeff Bezos, Jackie O, Edward Renn, Tyler Le, remarries, Jenny Chang, Rodriguez, Sam Walton, haven't Organizations: Republican, Getty, IRS, Federal Reserve, Walmart Locations: Cayman Islands, Bermuda, Washington, Florida, Wyoming, Plenty

☆ Starring on 'The White Lotus' changed Fred Hechinger's life. Now, he's playing an unhinged emperor in 'Gladiator II.'
▼ + stars: | 2024-11-23 | by ( Olivia Singh | ) www.businessinsider.com time to read: +5 min

The actor said that starring on "The White Lotus" changed his life. Hechinger's Caracalla is sick and twisted — a 'dangerous concoction'Fred Hechinger, Pedro Pascal, and Joseph Quinn in "Gladiator II." "Gladiator II" is also a study of what unchecked power does to a civilization. Advertisement'The White Lotus' gave Hechinger his big breakFred Hechinger as Quinn on season one of "The White Lotus." Hechinger prides himself on playing varied roles, whether he's a menacing emperor in "Gladiator II," a concerned grandson in "Thelma," or a school staff member in "Nickel Boys."

Persons: Fred Hechinger, Emperor Caracalla, Ridley Scott's, He'll, Hunter, Fred Hechinger's, Joseph Quinn, Paul Mescal's, Ridley, Hechinger, Hechinger's Caracalla, Pedro Pascal, Aidan Monaghan, Maximus Decimus Meridius, Russell Crowe, Caracalla, Geta, Quinn, Mescal, Maximus, Connie Nielsen, They'll, HBO Hechinger, Quinn Mossbacher, he's, Nicolas Cage, Christian Bale, Thelma, he'll, Kraven Organizations: Business, Paramount Pictures, HBO, Hollywood, Marvel Comics Locations: Rome, Hawaii, Maui

President-elect Donald Trump on Friday asked Scott Bessent, a top fundraiser to his campaign, to serve as secretary of the Treasury Department, two sources familiar with the matter confirmed to NBC News. And with Trump proposing aggressive tariffs on imports from countries spanning the globe, the new Treasury Department chief will have to manage relationships with global finance ministers who may choose to retaliate with tariffs of their own. With inflation moderating over the past year, the Powell-led Fed has cut interest rates as part of a bid to stop high borrowing costs from unduly raising unemployment. In Trump’s first term, he tapped banker Steven Mnuchin to lead the Treasury Department. But his tenure at the Treasury Department was more stable than those of other high-level Cabinet posts in Trump’s first term.

Persons: Donald Trump, Scott Bessent, Bessent, Trump, Jerome Powell, “, ” Powell, Powell, Steven Mnuchin, Mnuchin, Trump’s Organizations: Treasury Department, NBC News, Senate, White, Republican, Congress, Federal Reserve, Bloomberg News, Fed, CNBC Locations: Hollywood

☆ How the world's 431 women billionaires make, spend and give away their fortunes
▼ + stars: | 2024-11-22 | by ( Robert Frank | ) www.nbcnews.com time to read: +3 min

Of the 3,323 billionaires in the world, 13% (or 431) of them are women, according to the Altrata Billionaire Census. Of the 431 female billionaires today, three-quarters inherited a portion of their wealth, according to the report. By contrast, only 5% of male billionaires inherited their fortunes. Nearly one in five female billionaires spend most of their professional time in nonprofits, compared with 5% of men. Billionaire men are 3.8 times more likely that billionaire women to own a car worth more than $1 million.

Persons: they’re, Alice Walton, Julia Flesher Koch, Françoise Bettencourt Meyers, Altrata, — Organizations: Altrata, Cerulli Associates

☆ Denzel Washington commands ancient Rome and movie theaters with ‘Gladiator II’
▼ + stars: | 2024-11-22 | by ( Ronda Racha Penrice | Atlanta-Based Writer Ronda Racha Penrice Is The Author Of | Black American History For Dummies. | ) www.nbcnews.com time to read: +5 min

The biggest surprise of “Gladiator II” is not that Denzel Washington is great. Instead, it’s how pivotal his character Macrinus is to the long-awaited sequel starring Paul Mescal as the heir of Russell Crowe’s iconic character Maximus. But it’s Washington’s Macrinus who moves “Gladiator II” forward. “His grand purpose,” Washington told NBC News, “is to take over the world.”Denzel Washington plays Macrinus, Pedro Pascal plays Gen. Acacius and Connie Nielsen plays Lucilla in “Gladiator II.” Aidan Monaghan / Paramount PicturesTo select his gladiators, Macrinus leans into their rage. “Almost everything that is done in the film, I’ve done before: fight scenes, swords, riding horses,” he said, noting one exception.

Persons: “, Washington, Paul Mescal, Russell Crowe’s, Lucius, Washington’s Macrinus, ” Washington, Denzel Washington, Macrinus, Pedro Pascal, Acacius, Connie Nielsen, Lucilla, ” Aidan Monaghan, stokes, ”, Crowe’s, —, Ridley Scott, Thelma, Louise, ” Scott “, Scott, ’ ” Washington, “ He’s, ’ ” Paul Mescal, Caesar, Janty Yates, Cuba Scott, I’ve, “ I’ve, It’s, Malcolm, Katia, John David, Pauletta, “ we’re Organizations: NBC News, Paramount Pictures, Netflix Locations: ” Washington, Cuba, Pittsburgh

☆ Greene: If it was just the MAG seven, the rally would not be sustainable.
▼ + stars: | 2024-11-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGreene: If it was just the MAG seven, the rally would not be sustainable. Victoria Greene, Founding Partner & CIO at G Squared Private Wealth, discusses the broader market rally, noting that small-cap stocks are outperforming tech giants. She sees opportunities in traditional stocks like Walmart, Costco, and IBM, and views the market as a bull run, urging investors to take advantage rather than stay on the sidelines.

Persons: Greene, Victoria Greene Organizations: MAG, Partner, G Squared, Wealth, Walmart, Costco, IBM

☆ One of Trump’s Treasury contenders hails from the most cutthroat private equity firm on Wall Street
▼ + stars: | 2024-11-22 | by ( Allison Morrow | ) edition.cnn.com time to read: +7 min

The words “private equity” are almost poetic in their power to obfuscate in such a way that most people simply tune out when they hear them. But there’s a reason workers tend to have a negative association with private equity. Per Bloomberg, Apollo “built its name as the scrappiest private equity and distressed-debt investor on Wall Street by buying businesses and loading them up with debt that offered creditors meager protections in the face of default.”Historically, private equity deals were largely handled by big banks. Private equity firms now hold controlling stakes across an array of industries, including supermarkets, housing, health care, fashion, restaurants and vet clinics. And other efforts to force more transparency and accountability in private equity have similarly faced opposition.

Persons: CNN Business ’, Marc Rowan, Donald Trump’s, Rowan, Bill Lazonick, he’s, ”, Megan Greenwell, aren’t, ” Dennis Kelleher, Apollo “, it’s, Sen, Elizabeth Warren of, hadn’t, Scott Bessent, Kevin Warsh, “, ” Greenwell Organizations: CNN Business, New York CNN, Apollo Global Management, Treasury, OCC, Republicans, Industry Research Network, — Bloomberg, KKR, Blackstone, Carlyle Group, Securities and Exchange Commission, “, Research, Treasury Department, Bloomberg, Financial Times, Federal Reserve Locations: New York, ”, Elizabeth Warren of Massachusetts

☆ Diddy's prosecutors compare him to R. Kelly in fighting his latest bail application
▼ + stars: | 2024-11-22 | by ( Laura Italiano | ) www.businessinsider.com time to read: +4 min

Ex-Abercrombie & Fitch CEO Michael Jeffries won bail on sex-trafficking charges, Combs' lawyers noted. On Friday, prosecutors said that Combs' case is more like R. Kelly's than like Jeffries'. Prosecutors compared Sean "Diddy" Combs to sex-trafficking convict R. Kelly during two hours of bail arguments in federal court in Manhattan on Friday. "These cases are much more comparable, your honor," she told US District Court Judge Arun Subramanian. AdvertisementKing Combs, center, son, D'Lila Combs and Jessie Combs, daughters of Sean "Diddy" Combs, leave Manhattan federal court, Friday, Nov. 22 2024, in New York.

Persons: Sean, Diddy, Combs, Michael Jeffries, Jeffries, R, Kelly, King Combs, Janice Combs, Yuki Iwamura Combs, Michael Jeffries —, Keith Raniere, Raniere, Mike Jeffries, Abercrombie &, Rebecca Blackwell, Christy Slavik, Slavik, Arun Subramanian, D'Lila Combs, Jessie Combs, Yuki Iwamura, Marc Agnifilo, I'm, Agnifilo Organizations: Ex, Abercrombie, Fitch, AP, Prosecutors, Abercrombie & Fitch, US, Office Locations: Manhattan, New York, Side, Brooklyn, Chicago

☆ JPMorgan's AI rollout: Jamie Dimon's a 'tremendous' user and it's caused some 'healthy competition' among teams
▼ + stars: | 2024-11-22 | by ( Michelle Abrego | Bianca Chan | ) www.businessinsider.com time to read: +5 min

AdvertisementJPMorgan tech exec Teresa Heitsenrether talked about the bank's ongoing adoption of generative AI. And it certainly has helped with that," Heitsenrether, who is responsible for executing the bank's generative AI strategy, told a conference in New York on Thursday. AdvertisementDimon himself is a "tremendous user," she said, and is waiting for the ability to use the bank's tools on his phone. JPMorgan, America's largest bank, has now rolled out the LLM Suite, a generative AI assistant, to 200,000 of its employees. The wealth and asset management arm was the first division to use generative AI, piloting a generative AI "copilot" for its private bank this summer.

Persons: Teresa Heitsenrether, Heitsenrether, it's, Jamie Dimon, Dimon, He's, Keri Smith, What's, she'll, Sumitra Ganesh, Ganesh Organizations: JPMorgan, Accenture Locations: New York

☆ There's another surge in Americans seeking secondary passports. Global citizenship firms explain what's changed.
▼ + stars: | 2024-11-22 | by ( Ana Altchek | ) www.businessinsider.com time to read: +5 min

Global citizenship firms said clients are especially concerned about LGBTQ+ rights and the economy. American interest in secondary passports has been on the rise over the last year — and global citizenship firms have reported another surge since President Donald Trump's reelection. AdvertisementThe firm said it saw a 392% increase in inquiries from US nationals during election week compared to the week prior. AdvertisementHe said people are concerned about Trump's promise to raise tariffs, and how that could impact the economy and the US dollar. Leading up to the 2020 election, Jafri said there was an increase in interest from his clientele's Republican contingent.

Persons: Donald Trump's, Judi Galst, Reaz Jafri, Dasein, Jafri, isn't, he's, Galst, Rose Emmett, she's, Emmett, Elizabeth Warren, they've, Galt Organizations: Global, Henley & Partners, New, CS Global Partners, Republican Locations: New York, Europe, London, United States

☆ Opinion | We Wanted a New Republican Party. Trump Delivered.
▼ + stars: | 2024-11-22 | by ( Ross Douthat | ) www.nytimes.com time to read: +55 min

Barack Obama was elected president, and the mood in the Republican Party picked up on the mood you’ve already described. But in the end, what he did electorally was not in that election to build the pan ethnic working class Republican Party. But at the very least, there was the conventional wisdom was that the Republican Party had to move substantially to the left on immigration. I just think that if the Republican Party is not the party of private property and wealth building, so I don’t think. Is there any chance that the Republican Party is about to not be the party of private property and wealth building No, no, I think you’re right.

Persons: I’m Ross Douthat, Donald Trump didn’t, Trump, I’ve, Reihan Salam, Reihan, George W, I’m, pry, Ross, Ross Douthat, let’s, Bill Kristol, Bush, Boomer, Giuliani, Ronald Reagan, wasn’t, Bill O’Reilly, Ross Reihan, Bush’s, Barack Obama, Obama, That’s, Mitt Romney, Paul Ryan, Ryan, Rush Limbaugh, notionally, Jeb Bush, Marco Rubio, Bill Clinton, Donald J, Let’s, it’s, It’s, ”, Donald Trump, Rudy Giuliani, Will, electorally, Romney, we’d, didn’t, Pat, John McCain, Frank, Kavanaugh, Trump’s, George Floyd, Biden, hadn’t, progressivism, premised, ender, New Party ”, ryan, neoliberals, Steve Bannon, Steve Moore, we’re, Moore, Bannon didn’t, COVID, JD Vance, Elon Musk, Musk, he’s, Vance, hasn’t, Clinton, Hillary Clinton, Margaret Thatcher’s, Reagan, Roosevelt, Republican policymaking, we’ve Organizations: New York, Republican Party, Manhattan Institute for Policy Research, New Party, New York Times, Harvard Institute of Politics, Harvard, The, Democratic, Great Society, Republicans, Republican, Reagan Democrats, Tribune, Trump, Perot, Tea Party, Party, Social Security, Grand New Party ”, Romney, Obama Trump voters, GOP, Amnesty, Reagan, Biden, American, America, romney, Infrastructure, Clinton Democrat, Uc Locations: Washington , DC, Northwestern, Washington ,, New York, Washington, Iraq, America, “, China, American, United States, Clinton, it’s, Nevada

☆ 41-year-old whose side hustle brings in $600,000 a year: This is the ‘best possible way' to make money
▼ + stars: | 2024-11-22 | by ( Megan Sauer | ) www.cnbc.com time to read: +4 min

Rutkay is a full-time makeup artist who sometimes works up to 16-hour days on movie and television sets. Her side hustle, Citymouse, sells cross-body diaper bags with changeable straps. I think creating a business that fills a need is the best possible way to grow and sustain a brand — a lot of people can do that. When I started Citymouse, I took a six-week course with a spiritual life coach and realized I felt very badly about my previously failed [side hustles]. I didn't spend money on advertising because I thought if I made a listing with strong SEO, people would magically find it.

Persons: they've, Alexandra Rutkay, Saint Laurent crossbody, Rutkay, David, Citymouse, weren't, She's, she's, I've Organizations: CNBC, Amazon Locations: cnbc.com, New York

☆ Opinion | A Range of Lessons From Trump’s Victory
▼ + stars: | 2024-11-22 | by ( ) www.nytimes.com time to read: +1 min

To the Editor:Re “Enough,” by Roxane Gay (Opinion, Nov. 17):I empathize with Ms. Gay’s feelings regarding not yielding “even a little” to Trumpism’s “odious politics.” But we also cannot be naïve about what’s necessary to most effectively fight and defeat Trumpism: political power. To win future elections Democrats — increasingly the party of well-educated, well-off citizens who have the privilege of voting based on concerns over the rule of law and cultural issues, not whether they can pay this month’s rent — do not need to cater to all who voted for Donald Trump. They just need to win over a small slice of the electorate that may have voted for previous Democratic candidates but, perhaps holding their noses, didn’t in 2024. They must acknowledge many voters’ fear, anger and insecurity over both major parties failing for decades to adequately address ever-increasing income and wealth inequality — that even when “the economy” improves, too often everyday workers still fall farther and farther behind. And they must relentlessly focus electoral messaging on their plans for how to repair this ever-worsening economic gulf.

Persons: Roxane Gay, Trumpism’s, —, Donald Trump Organizations: Democratic

☆ High-Yield Savings Accounts Are Still a Good Deal
▼ + stars: | 2024-11-22 | by ( Ann Carrns | ) www.nytimes.com time to read: +1 min

You’ve probably been discouraged to see the interest rate on your high-yield savings account fall during the past couple of months. But your money is still earning much more than it would in a traditional savings account — and more than inflation. Rates paid on cash in savings accounts have been dropping since the Federal Reserve began cutting its key interest rate in September as inflation cooled. Even so, the rates paid on federally insured high-yield savings accounts, many offered by banks that operate solely or mostly online, are still beating inflation, which was 2.6 percent on an annual basis in October. “High-yield savings accounts are still attractive relative to traditional savings accounts,” particularly for emergency or “rainy day” funds that savers want to be able to tap into quickly, said Alan Bazaar, chief executive and co-chief investment officer at Hollow Brook Wealth Management in Katonah, N.Y.

Persons: You’ve, Banks, “, Alan Bazaar Organizations: Federal Reserve, Wealth Management Locations: Katonah, N.Y

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