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☆ This woman made up to $110,000 a year as a nanny for the ultra-rich. Here's what she learned from the job
▼ + stars: | 2024-08-24 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +10 min

In Kiser's final year as a nanny during the pandemic, she estimates she took home about $110,000. CNBC spoke with Kiser about some of the financial lessons she learned during her time as a nanny, and why she ultimately left the role. Stephanie Kiser: I read "The Nanny Diaries" when I started my first job. SK: A contract as a nanny is important because there's no human resources; there's no laws protecting you. It seems like nannying work can have a low barrier to entry, with salary growth potential, but then there are all these other risks.

Persons: Stefanie Kiser, Jillian Rahn, Stefanie Kiser Stephanie Kiser, Tim Walz, Kiser, Scarlett Johansson, James Devaney, Ana Teresa Solá, Stephanie Kiser, nannying, I'm, Nannies, nannies, they've, who've, There's, weren't Organizations: Upward Mobility, Mercedes, Hamptons, Finance, CNBC, Upper, Wireimage, Getty, SK, New, Domestic, ATS, Pew Research Center Locations: New York City, America, New York City , New York, United States, New York

Mortgage rates dropped substantially earlier this month and they remain low today. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-Year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 5.62%, a four-basis-point decrease from the previous week, according to Freddie Mac data. Mortgage rates have been elevated for most of 2024, but they've been trending down in recent months. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: Jerome Powell, Powell, you'll, Freddie Mac, it's Organizations: Federal Reserve, Traders, Zillow Locations: Jackson Hole, Chevron

☆ I'm a 101-year-old who just published my 9th book—here are my 8 best lessons for a long, happy life
▼ + stars: | 2024-08-24 | by ( Babette Hughes | As Told To Stav Ziv | ) www.cnbc.com time to read: +6 min

There's an idea in our culture that's so wrong: that life is over when you get to be a certain age. Take our new online course Today, as a 101-year-old in Austin, I'm living the kind of life I feel fortunate to have. Here are eight lessons I've learned that have helped me live a long, happy life:1. Do things you loveWhen I'm writing, I feel different. Sometimes I'll come back and I'll see something I wrote and think, "That's good."

Persons: I've, It's, That's Locations: Cleveland , Ohio, Austin

☆ Why Black men's job situation is worse than it looks
▼ + stars: | 2024-08-24 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +10 min

That means that the tens of thousands of Black men who are incarcerated aren't being included in these calculations, effectively boosting the Black male employment rate. As of July, the BLS estimated a there were 16.2 million US Black men in the noninstitutional population, compared to 18.8 million Black women. AdvertisementThe bottom line: If the survey data had a more complete picture of Black men, Holzer said the Black male employment rate would likely be "considerably worse." Education differences and discrimination can work against Black menEducation is one factor that can help explain the lower employment rate of Black men, Wilson said. A strong job market and workforce development programs could drive progressThere are several things that might help get more Black men into the workforce.

Persons: —, there's, it's, Harry Holzer, aren't, Holzer, Valerie Wilson, Wilson, Jared, Black, didn't, weren't, " Holzer Organizations: Service, Business, Georgetown University, US Department of Labor, Pew, BLS, Black, University of California, University of Chicago, BI, Harvard, Stanford, Initiative Locations: Berkeley

☆ I spend less than $300 on back-to-school shopping for my 2 kids. Here's what works to help me save money.
▼ + stars: | 2024-08-24 | by ( Jill Robbins | ) www.businessinsider.com time to read: +5 min

AdvertisementI buy most of my kids' school clothes during the after-Thanksgiving sales. Even when buying school clothes for my kids on sale, I don't buy a lot. Keeping a stock of school supplies basics on hand saves both time and moneyI spent more on school supplies when my kids were in elementary school — school supply lists times two with crayons, colored pencils, and so many glue sticks drove my expenses up. That said, my kids still need school supplies, but they're usually the basics, such as paper, notebooks, folders, and pens and pencils. AdvertisementAlso, I never go to the store in person to buy school supplies.

Persons: —, I'm, they've, I've, it's Organizations: Service, Business, Facebook

☆ This couple went on one cruise together. Now, they're moving onto a never-ending residential cruise ship.
▼ + stars: | 2024-08-24 | by ( Brittany Chang | ) www.businessinsider.com time to read: +8 min

AdvertisementThat is, until this spring, when Canen and Bodin, both 54, uprooted their lives in Maui, Hawaii, to move onto a new residential cruise ship called Villa Vie Odyssey. AdvertisementThe couple sold their business in MauiBodin told BI that before Villa Vie, the couple had never really considered leaving Maui. "We went pretty much every day for two weeks and spent all day there until they kicked us off," Canen told BI. AdvertisementBefore committing to Odyssey, Canen and Bodin looked into Storylines, which plans to construct its own residential cruise ship, MV Narrative. AdvertisementAre you sailing on a residential cruise ship like Villa Vie or have a tip?

Persons: —, Lanette Canen, Johan Bodin, Canen, Bodin —, we'd, Bodin, Mikael Petterson, Fred Olsen Cruise, Lanette, Villa Vie's, Villa, Maui Bodin, they've, Petterson, Villa Vie, We're, Angela, Stephen Theriac Canen, they'd, Kendra Holmes, they're Organizations: Service, Business, Villa, Residences, Fred Olsen Cruise Lines, South Pacific, YouTube, Sea Cruises, Cruises, Victoria Cruises Locations: Maui, Hawaii, Europe, Asia, Australia, South, North America, Africa, Belfast, Ireland, Braemar, Maui —, Italy, Croatia, Slovenia, Sweden, Canary, Norwegian, Villa Vie, Canen, Petterson

☆ Former OpenAI researchers warn of 'catastrophic harm' after the company opposes AI safety bill
▼ + stars: | 2024-08-24 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

"We joined OpenAI because we wanted to ensure the safety of the incredibly powerful AI systems the company is developing," the researchers, William Saunders and Daniel Kokotajlo, wrote in the letter. "But we resigned from OpenAI because we lost trust that it would safely, honestly, and responsibly develop its AI systems." AdvertisementThey continued: "Developing frontier AI models without adequate safety precautions poses foreseeable risks of catastrophic harm to the public." SB1047 "has inspired thoughtful debate," and OpenAI supports some of its safety provisions, Kwon's letter, dated a day before the researchers' letter was sent, read. "We cannot wait for Congress to act — they've explicitly said that they aren't willing to pass meaningful AI regulation," Saunders and Kokotajlo wrote.

Persons: —, Gavin Newsom, William Saunders, Daniel Kokotajlo, Saunders, Kokotajlo, Sam Altman, Jason Kwon, Scott Wiener, Kokotajlo aren't, OpenAI, California's, — they've, Newsom Organizations: Service, Politico, California Gov, Business, California Legislature, Wiener Locations: California

☆ Is Nvidia's earnings report really make or break? Here's why we don't think so
▼ + stars: | 2024-08-23 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

While expectations are high and caution is certainly warranted, we don't think it's quite that simple. While the Oscillator and Williams' work do point to possible selling pressure ahead, we don't want to get too bearish. However, we don't think the risks are so elevated as to warrant more than a small cash raise. We still view Nvidia as an "own it, don't trade it" stock, but we also don't keep our heads in the sand. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, Larry Williams, Williams, Jim, Estee Lauder, Morgan Stanley, hasn't, they've, We're, Jim Cramer's, Dominika Organizations: Nvidia, Club, Abbott Laboratories, Federal, Blackwell, Apple, Microsoft, Super Six, Jim Cramer's Charitable, CNBC, Nurphoto, Getty Locations: Williams

☆ Ukraine got America's top tank without the latest and greatest armor upgrades, which are 'top secret,' but it's adding its own
▼ + stars: | 2024-08-23 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +9 min

Read previewUkraine is adding more protection to its US-provided Abrams tanks as it tries to fight back against Russia. The US started sending Abrams tanks to Ukraine in fall 2023, and altogether it has sent 31 of them. But without top armor, Ukraine needs to come up with its own solutions, he said. AdvertisementA Ukrainian tank with an added cage near the Russian border in northern Ukraine in August 2024. That confirmation indicates that the armor on the Abrams tanks, among certain other things, was downgraded prior to delivery.

Persons: —, Abrams, Ukraine didn't, Nicholas Drummond, Hamish de Bretton, Gordon, M1A2 Abrams, Pat Ryder, Charlie Dietz, Bretton, De Bretton, Drummond, ALEXANDER NEMENOV, Volodymyr Zelenksyy, Ryan Pickrell Organizations: Service, Russia, US, Business, British Army, Soviet, Bradley, Nuclear, Getty, Politico, M1A2, Pentagon, BI, Department of Defense, International Institute for Strategic Studies, Abrams, Challenger Locations: Ukraine, Russian, ROMAN, Bakhmut, Soviet, Russia, Khortytsky_wind, AFP, Western

☆ Nvidia will be in the spotlight next week as Wall Street wraps up a tumultuous August
▼ + stars: | 2024-08-23 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

NVDA YTD mountain Nvidia Wall Street is bullish heading into Nvidia's earnings results next week, figuring any hiccups to its next generation AI chips does little to dim the earnings potential of a company that essentially has a monopoly on the market. Economists polled by FactSet anticipate PCE to show increases of 0.2% month on month and 2.6% from the year-earlier period. Wall Street anticipates that stocks could go higher from here, though the road from now to the end of the year could be bumpy. Other notable earnings results include tech names Salesforce and CrowdStrike, as well as consumer names such as Campbell Soup, Dollar General and Ulta Beauty. Earnings: Nvidia , Bath & Body Works , J. M. Smucker , Salesforce , CrowdStrike , NetApp , HP Thursday Aug. 29 8:30 a.m.

Persons: Nvidia's, chipmaker, they've, Harsh Kumar, Piper Sandler, Blackwell, Jensen Huang, Jim Cramer, Kumar, Louis Navellier, Jerome Powell, Jackson, Powell, FactSet, David Miller, Miller, Kamala Harris, Donald Trump, He's, Campbell, Lululemon Organizations: Nvidia, Blackwell, Navellier, Associates, Federal Reserve, PCE, Nasdaq, Dow Jones, U.S, Catalyst Funds, Ulta, Dallas Fed, Richmond Fed, Body, HP, Autodesk, PCE Deflator, Chicago PMI Locations: Russia, Ukraine, Chicago, Michigan

☆ How Google makes custom chips used to train Apple AI models and its own chatbot, Gemini
▼ + stars: | 2024-08-23 | by ( Katie Tarasov | ) www.cnbc.com time to read: +7 min

He's been covering Google's custom cloud chips since they launched in 2015. Google was the first cloud provider to make custom AI chips. Microsoft 's first custom AI chip, Maia, wasn't announced until the end of 2023. But being first in AI chips hasn't translated to a top spot in the overall rat race of generative AI. Google TPUs still dominate among custom cloud AI accelerators, with 58% of the market share, according to The Futurum Group.

Persons: Google's, Daniel Newman, He's, Maia, wasn't, Gemini, OpenAI's ChatGPT, Newman, Amin Vahdat, Marc Ganley, Vahdat, they've, Stacy Rasgon, Rasgon, it's Organizations: Google, Apple, Apple Intelligence, Nvidia, Futurum, Amazon Web Services, Microsoft, CNBC, Systems, Unit, Bernstein Research, Broadcom, TSMC, Trillium, Taiwan Semiconductor Manufacturing Company, Intel, Samsung Locations: Mountain View , California, China, Taiwan, U.S

☆ China is Starbucks' 2nd biggest market, but sales are slumping. Here's why.
▼ + stars: | 2024-08-23 | by ( Grace Dean | ) www.businessinsider.com time to read: +7 min

Comparable store sales, a key measure for the restaurant industry, were down 14% in its most recent quarter. Sales slumpStarbucks' comparable store sales in China have been incredibly volatile over the past five years. But in recent months, they've been hit by cautious consumer spending and increased competition, then-CEO Laxman Narasimhan told investors in July. Luckin Coffee, Starbucks' biggest rival in China, has nearly three times as many stores as Starbucks in the country after monumental unit growth. "We're not interested in entering the price war," Starbucks China CEO Belinda Wong told investors in January.

Persons: —, Brian Niccol, they've, Laxman Narasimhan, Narasimhan, Sherri, Kearney, Luckin, McCafe, KFC's, Dave Xie, Oliver Wyman, Xie, latte, We're, Belinda Wong, Wong, it's, Brian Yarbrough, Edward Jones, Liu Ying Organizations: Service, Starbucks, Business, Bank of America, Bloomberg, Publishing, Getty, Reuters Locations: China, Beijing, Shanghai, Seattle, Luckin, Cotti, Xinhua

☆ Sen. Warren on Harris' price gouging plan: Consumers need to know they've got somebody on their side
▼ + stars: | 2024-08-23 | 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 EmailSen. Warren on Harris' price gouging plan: Consumers need to know they've got somebody on their sideSen. Elizabeth Warren (D-Mass.) joins 'Squawk Box' to discuss night 4 of the Democratic National Convention, Kamala Harris' price gouging proposal, and more.

Persons: Email Sen, Warren, Harris, they've, Sen, Elizabeth Warren, Kamala Harris Organizations: Email, Democratic National Convention

☆ AI copilots are making internal breaches easier and costlier to defend against
▼ + stars: | 2024-08-23 | by ( Rachel Curry | ) www.cnbc.com time to read: +7 min

At least, that's what data security experts like Matt Radolec, vice president of incident response at data security company Varonis, say. "Copilots have pass-through permissions," Radolec said. There's also value in proceeding at a slow and steady pace with gen AI processes. Instead, Ensono is developing its own tool so the company can better enable and control its data security. Gen AI has made cybersecurity mistakes costlier, and insiders now pose a bigger threat — malicious or otherwise — than ever before.

Persons: Matt Radolec, GitHub, Salesforce's Einstein, Radolec, it's, they've, Shawnee Delaney, Uber, Delaney, Meredith Graham, I'm, Graham, costlier Organizations: Istock, Getty, Vaillance Group, Defense Intelligence Agency, Merck, Microsoft Locations: —

☆ I've been to bachelorette parties in places like Hawaii and Las Vegas, but a Canadian city has been the best destination so far
▼ + stars: | 2024-08-22 | by ( Latifah Al-Hazza | ) www.businessinsider.com time to read: +4 min

I've been to Cabo, Napa, Puerto Rico, Palm Springs, India, Hawaii, Las Vegas, and more to celebrate dear friends who were getting married. Latifah Al-HazzaMy absolute favorite part of the trip was renting dresses at The Fitzroy for a night at the opera. AdvertisementI never expected a Canadian city to become my favorite bachelorette destinationI can't believe I got to wear a stunning gown to the opera in Toronto. It ended up being an incredible destination for a bachelorette party — and would probably be great for any old girls' trip, too. The diverse activities, luxe accomodations, and memorable meals made Toronto my favorite bachelorette-party destination to date.

Persons: —, I've, I'm, Latifah Al, Hazza, Boulud Organizations: Service, Business, Toronto, Michelin, CN, Niagara Helicopters Limited, Bata Shoe, The Fitzroy, Fitzroy Locations: Cabo, Napa , Puerto Rico, Palm Springs, India, Hawaii, Las Vegas, Toronto, Yorkville, Baro, It's, Niagra, Niagara Falls, Distillery, The, Canadian

☆ I'm a VC in the world's fastest-growing major economy. I look for 5 traits in first-time founders.
▼ + stars: | 2024-08-20 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +6 min

Read previewThis as-told-to essay is based on a conversation with Rajiv Srivatsa, a partner at Antler India, a pre-seed venture capital firm based in Bengaluru. I'm a partner at Antler India, an early-stage venture capital fund. The classic Antler model includes running a cohort of individuals who are transitioning from being employees to startup founders. Ambition and scale: The venture capital industry does not work if you want small outcomes. We look for complements and see pair-ups between one person with a technical background and one person with business acumen.

Persons: —, Rajiv Srivatsa, I've, They're, it's, they've Organizations: Service, Business Locations: India, Bengaluru

☆ Want to work at Goldman Sachs? These are the traits the bank looks for, according to CEO David Solomon.
▼ + stars: | 2024-08-19 | by ( Jaures Yip | ) www.businessinsider.com time to read: +3 min

Read previewGetting a job at Goldman Sachs is even harder than Havard, according to its CEO. In an episode of "The David Rubenstein Show," CEO David Solomon revealed that of over 300,000 applications last year for entry-level jobs out of undergraduate university, the bank hired around 2,500 people — less than 1%. AdvertisementWhile he listed off more classic desirable traits — people who are hardworking, smart, and "believe in excellence" — Solomon emphasized tenacity. In a letter to their 2024 summer internship cohort, Solomon advised them to "embrace your unique skills and experiences." AdvertisementThe investment bank received a record-breaking 315,126 applications for its 2024 internship program, admitting only 2,700 spots — slightly less than 0.9%.

Persons: —, Goldman Sachs, Havard, David Rubenstein, David Solomon, Solomon, — Solomon, Rubenstein, Goldman, Robbie Stankard Organizations: Service, Business, Colombia University

☆ AI is unlocking new uses for military drones, boosting demand for these companies
▼ + stars: | 2024-08-18 | by ( Pia Singh | In | ) www.cnbc.com time to read: +8 min

We're approaching a new era of defense, one that will use AI-enabled military drones that can run without a human operator. According to BTIG, the DoD requested $5.3 billion in fiscal year 2025 for unmanned systems, most of which is directed at procurement programs. The firm forecasts the DoD's entire unmanned funding requests to grow at a 9.5% compound annual growth rate through fiscal year 2029. General Dynamics is another of Madrid's buy-rated stock in the unmanned systems arena. Strong demand of its defense products, including ammo and ground vehicles, also indicate earnings growth potential, the analyst added.

Persons: Andre Madrid, BTIG, spender, They've, Stocks, Northrop, Lockheed Martin, Morgan Stanley, Kristine Liwag, Liwag, Northrop Grumman, Madrid, Northrop's, It's, Atomics, You've, they've, Kratos, Morgan Stanley's Liwag Organizations: U.S . Department of Defense, DoD, Aircraft, Air, U.S . Navy, U.S . Air Force, Pentagon, CCA, Department of Defense, Dynamics, Kratos Defense, Security Solutions, Northrop Grumman, Lockheed, Air Force, Raider, Defense, Northrop, Boeing, FactSet, General Dynamics, U.S . Army Locations: Nagorno, Karabakh, Ukraine, Madrid, France

☆ A $1.4 million vacation? Take a look inside a yacht that costs that much per week
▼ + stars: | 2024-08-15 | by ( Marylou Costa | ) www.cnbc.com time to read: +6 min

You don't feel like you're on a yacht," said Sacha Williams, global charter marketing director at Northrop & Johnson, Malia's broker. Source: Northrop & JohnsonLike a hotel, the yacht has a gym and spa, the latter with a massage room, sauna and Turkish hammam bath. Source: Northrop & JohnsonThere's also a glass-edged infinity pool on the main deck and a glass-bottomed Jacuzzi on the sundeck, plus an outdoor theater. Some crew members double as personal trainers and have musical skills to entertain in the evenings. There are 21 crew members on board the Malia, a custom-built yacht by the Greek builder Golden Yachts.

Persons: Malia, surcharges, Sacha Williams, Johnson, Williams, Johnson There's, I've Organizations: Cruising, Northrup, Northrop, Golden, North Locations: Europe, Monaco, Sardinia, Maddalena, Saint, Caribbean, Bahamas

☆ Teacher says contract wasn’t renewed because he wouldn’t use trans students’ preferred names
▼ + stars: | 2024-08-14 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Dennis-Romero-Circle-Byline-Template.Jpg | Dennis Romero | ) www.nbcnews.com time to read: +5 min

A high school English teacher is suing a Wisconsin school district, alleging it did not renew his contract last year because he refused to use the preferred names of two transgender students. Argyle School District Superintendent Randy Refsland said in an email Tuesday night that he could not comment because the matter was being litigated in court. But after one of the students expressed unhappiness with the situation — the student's father was described as a fellow district teacher — the district demanded adherence to the policy of using students' preferred names and pronouns, according to the suit. Greul said that this fight over first names and pronouns will be crucial for "everyday Americans across the country." A 2022 report on pronouns by the Minnesota Department of Health says that the correct use of preferred pronouns "saves lives."

Persons: Jordan, ” Cernak, “, Randy Refsland, Cernak, Cernek, Luke Berg, Lauren Greuel, Greul, they've Organizations: Argyle School District, Western, Western District of, . Argyle School, Argyle High School, Wisconsin Institute for Law & Liberty, Minnesota Department of Health, Survey, National Institutes of Health, Fair, Argyle, Fair Wisconsin, Facebook Locations: Wisconsin, Argyle, Argyle , Wisconsin, U.S, Western District, Western District of Wisconsin, Cernak’s, —, Minnesota, Fair Wisconsin

☆ Monaco is 1 of 6 locations hosting the star-studded E1 — a race thought ‘impossible’ before it began
▼ + stars: | 2024-08-14 | by ( Marylou Costa | ) www.cnbc.com time to read: +6 min

During the Monaco race on July 28, Bernard d'Alessandri, general secretary and managing director of Yacht Club de Monaco, said E1 showcases new technology for boat racing. "Before E1, it was impossible to have a race with electric boats," he said. Acceptance of electric boating among the eliteRacebird creator Sophi Horne said getting the attention of Monaco's boating elite wasn't easy. Team owners Didier Drogba and Tom Brady speak with Alejandro Agag, co-founder and chairman of the E1 Series, ahead of the E1 race in Venice, Italy — the second of the series. The final two E1 races are scheduled to occur in Lake Como, Italy and Hong Kong.

Persons: Shiv, Bernard d'Alessandri, Akin, Racebird, Rodi Basso, Team Rafa, Rafael Nadal, Basso, Prince Albert II of Monaco, Sophi Horne, Cara Delevingne, Lloyd, Horne, they've, …, Will Smith, Marc Anthony, Tom Brady, Didier Drogba, Virat Kohli, Sergio Perez, Steve Aoki, Marcelo Claure —, Alejandro Agag, Italy —, Daniele Venturelli, Brady, Drogba, Nadal, Carlos Duarte, Racebirds Organizations: Port, Media Monaco, Monaco, Yacht Club de Monaco, Formula, Team, NFL, Getty Locations: Monaco, Saudi Arabia, Racebirds, Venice, Italy, Mallorca, Lake Como, Hong Kong

As the economy continues to normalize and the Fed is able to lower the federal funds rate, mortgage rates should drop further. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. Mortgage Rates for Buying a Home30-Year Fixed Mortgage Rates Increase (+0.26%)The current average 30-year fixed mortgage rate is 6.17%, up 26 basis points from where it was this time last week, according to Zillow data. 15-Year Fixed Mortgage Rates Go Up (+0.26%)The average 15-year mortgage rate is 5.45%, 26 basis points higher than last week. Mortgage Refinance Rates30-Year Fixed Refinance Rates Jump Up (+1.07%)The average 30-year refinance rate is 7.04%, 107 basis points up from last week.

Persons: Zillow, Price, you'll, It's, refinance, they've Organizations: Federal Reserve, Zillow, FHA Locations: U.S, Chevron

☆ A millennial couple with a $1.2 million net worth explains how they both plan to retire by 35
▼ + stars: | 2024-08-14 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +9 min

They've managed to do all that while never making more than about $200,000 combined in yearly income from work. "We got our first house young, but we didn't buy all new furniture; we furnished it with hand-me-downs and thrift store finds," Wallace said. Between their three homes, which total $1.9 million in value, they have about $850,000 in equity, and they don't plan on paying them off early as interest rates on them are below 3.5%. Becoming millionairesThey hit their first half-million in 2021 and became millionaires in 2022, bringing their net worth above $1.2 million this year. They both plan on retiring in four years but anticipate working in part-time roles that better align with their passions.

Persons: Andrea Wallace, They've, Wallace, we've, Roth IRAs, they've, they're Organizations: Service, Business, FI, FIRE, Hallmark, Arizona State University, Lean FIRE Locations: Phoenix, California

☆ Move over dealmakers: Portfolio-company operators are the rising stars of private equity
▼ + stars: | 2024-08-14 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +11 min

Read previewDealmakers have always been the stars of private equity. AdvertisementKevin Desai, partner and private equity sector leader at PwC PWCBut in the current climate, portfolio-operations professionals are gaining esteem. AdvertisementPrivate equity 3.0Rising interest rates nearly two and a half years ago ushered in a new economic reality that hit private equity firms right in the pocket. Since private equity relies on debt to boost returns, the first option is off the table. These people are taking their talents to private equity firms to manage smaller companies using an already proven playbook for technological transformation.

Persons: —, you've, Marc Rowan, Rowan, Kevin Desai, Desai, I've, What's, they're, quants, we've Organizations: Service, Business, PricewaterhouseCoopers, University of Chicago, Walmart, Nike, Harvard Business Locations: dealmaking

☆ Real Estate Status Symbol: New Home From Your Favorite Luxury Brand
▼ + stars: | 2024-08-14 | by ( James Rodriguez | ) www.businessinsider.com time to read: +11 min

This spring, the company unveiled plans for Pagani Residences, a 70-unit condo development in Miami's North Bay Village. Beyond automakers, there's a growing list of luxury brands hoping to use real estate to turn their cultural cachet into cold, hard cash. New York's five-star Sherry-Netherland Hotel began welcoming long-term residents almost a century ago, and since then roughly 700 branded residences have graced skylines around the world. But when it comes to branded residences, there are real selling points for buyers. The Elle project may seem out of left field, but Itani told me he's talking with another publication interested in making similar inroads.

Persons: carmaker Pagani, Pagani, Carlo Dipasquale, Aston Martin, Carbone, Gabbana, Elle, Sherry, we've, that's, Itani, Drake, Giorgio Armani, aren't, Brand, They're, they're, Laura Steinbruckner, Ferrari, Rob Sykes, WATG, hadn't, Cipriani, they've Organizations: Pagani Residences, Mercedes, Benz, Porsche, Bentley, Global, Condo, Brands, Carlton, Nobu, Peruvian, Armani Casa, South Florida —, Villa Miami, Major Food Group, Gabbana, Hilton, Fiat, Apple Locations: Bay, South Florida, Miami, Miami Beach, Dubai, London, New York, Netherland, Spain, Toronto, homebuilding, Plenty, Villa

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