Wealth

By Michael Hartley CFP® | Cultivating Change LLC curated information about the challenges and rewards of thoughtful financial, estate, life, and legal planning. CultivatingChange.com

A Record Number of Millionaires are Fleeing to These Countries

As the political climate has begun to shift around the world, many millionaires are packing up and leaving their home countries for greener …

United Arab Emirates

3 Brands You've Only Heard About If You're Ridiculously Wealthy

The super-rich don't just live a different lifestyle. They live in a different world altogether.<p><i>Which brand is preferred mostly by the rich? originally appeared on Quora:</i> <i>the place to gain and share knowledge, empowering people to learn from others and better understand the world</i>.<p><b>Answer by Maxwell</b> …

Wealth

20 Truths About Billionaires That Nobody Understands

The world has billions of people but only a few billionaires.<p>Successful individuals are known for sharing similar habits such as waking-up early, saving, providing value to others, and taking calculated risks. But, sometimes the person or the habits aren't 100 percent understood - no matter how …

Success

Amazingly, Warren Buffett And Bill Gates Aren't Rich Enough

An interesting little point being made about the wealth of some of those in the past, the implication of which is that Warren Buffett, Bill Gates, Jeff Bezos and the like simply aren’t rich enough to be considered truly wealthy by those historical standards. This is obviously a contentious point …

How to Calculate Your Net Worth

When you see Beyonce's net worth of $450 million or President Donald Trump's net worth of $3.7 billion, you're probably wondering, "What is my net …

Wealth

Reverse Veil Piercing Given New Life In California Against A Delaware LLC In Curci

California real estate developer James P. Baldwin formed a Delaware LLC called JPB Investments LLC (“JPBI”), with Baldwin himself owning a 99% membership interest and his wife owning the other 1%, for the exclusive purpose of “holding and investment Baldwin and his wife’s cash balances”. Baldwin …

19 Secrets Your Millionaire Neighbor Won't Tell You

The secret to financial freedom.<p><i>From time to time we bring you posts from our partners that may not be new but contain advice that bears repeating.</i> …

Wealth

Richest men in history: Vladimir Putin, Bill Gates and Warren Buffett aren't even close

<b>Video by Money</b><p>Vladimir Putin’s wealth, even with the most generous calculations, pales in comparison. In fact, throw in the vast riches of …

Wealth

An Oil Baron Stiffed Goldman Sachs, So It Seized His 217-ft. Yacht

A Texas man, once swimming in oil wealth but now reportedly fallen on hard times, has suffered the ultimate indignity—having his yacht seized by a …

Goldman Sachs

Who Moved the Most on Bloomberg's Billionaire Index 8/11

Here's who moved the most on the Bloomberg's Billionaire Index. (Source: Bloomberg)

Billion Dollars In Losses From EY Tax Shelter Knocked Out By Tax Court

The legal fallout from the “X-Rated” tax shelters first exposed by Janet Novack in 1998 seems never ending. This week’s decision BCP Trading and Investments LLC by Judge Holmes is on a petition filed in 2008 and concerns tax savings from 2000 to 2002. Judge Mark Holmes is noted for his clear …

Does wealth always improve your life?

Few argue about the existence of the ‘one percent’ in society. And it’s easy to imagine that as well as financial success, these people have achieved …

Equality

A Wealthy Family’s Battle With Drugs Laid Bare, but to What End?

LONDON — In July 2012, the Swedish billionaire Hans Kristian Rausing was driving erratically when he was stopped by the police in South London. The officers discovered a still-warm crack pipe in the back of the car and then asked about the whereabouts of his wife, the American socialite Eva …

Books

Set a new table, create a “safe zone” for effective family philanthropy

Philanthropic strategists often work closely with families to help them establish, refine or refocus mutigenerational family foundations and …

Philanthropy

IRS Can Take Passports, But Here's How To Keep Yours

The IRS has power over passports, but not to <i>take</i> them exactly. It can tell the <i>State Department</i> to do it. The rules are not limited to criminal tax cases, or even where the IRS thinks you are trying to escape a tax debt. Section 7345 of the tax code broadly empowers it, and the IRS has details on …

Tax Court Nixes Roth IRA Tax Shelter

How much can you stuff into your Roth IRA before the Internal Revenue Service comes calling? In a recent case in U.S. Tax Court, Jan Jansson, a southern California business owner, made initial $2,000 deposits into Roth IRAs for himself, his wife and his two adult sons. Then, over a six-year period, …

Millennials are set to inherit record wealth — and the way they manage it will be unprecedented

<b>• Millennials are set to inherit more than $30 trillion from their baby boomer parents.</b><p><b>• This wealth transfer is a huge opportunity for financial advisers, but they will face challenges.</b><p><b>• Young Americans turn to technology to manage their money, and tend not to trust advisers.</b><p>The hyperbolic …

U.S. News & World Report

The amazing life of billionaire 'Cable Cowboy' John Malone, the single largest landowner in the US

You may not know his name, but chances are you’ve used a service or watched a channel with connections to John C. Malone.<p>The largest individual landowner in the US, Malone is the chairman of Liberty Media and has interests as wide ranging as race cars, the Discovery Channel, and the Atlanta …

Atlanta Braves

1,700 People in America Are Becoming Millionaires Every Day

Despite little wage growth and declining job prospects among young Americans, the U.S. is home to vast stores of wealth and a millionaire class that …

Wealth

Billionaire bunkers: How the 1% are preparing for the apocalypse

<b>(CNN) —</b> Say "doomsday bunker" and most people would imagine a concrete room filled with cots and canned goods.<p>The threat of global annihilation may feel as present as it did during the Cold War, but today's high-security shelters could not be more different from their 20th-century counterparts.<p>A …

Luxury

Debtor Cannot Assert Homestead Exemption For Residence Owned By LLC In White

Dean and Julie White, husband and wife, in 2007 set up a limited liability company called unpretentiously “The White Empire, LLC”. Into that LLC, the Whites transferred their legal title to a rental house.<p>Only three years thereafter, in 2010, the Whites’ marriage landed on the rocks, and the now …

The 4 Biggest Tax Breaks for High-Income Households

Ever wonder how high-income households keep their tax bills relatively low? Here are the four biggest tax deductions for households making over $200,000 per year in income, according to data collected by the Tax Foundation -- and I'll guarantee that #1 will surprise you.<p>4. Investment interest …

Retirement

New partnership audit regulations require changes for all partnerships | Insights

The IRS reissued Bipartisan Budget Act of 2015 partnership audit regulations on June 14, 2017 (the new partnership audit regime). These regulations …

Accounting

Bill de Blasio Will Push for Tax on Wealthy to Fix Subway

Mayor Bill de Blasio plans to push for a tax on wealthy New Yorkers to pay for improvements needed to address the crisis engulfing New York City’s subway, city officials said on Sunday, the latest salvo in the battle between Mr. de Blasio and Gov. Andrew M. Cuomo over who bears responsibility for …

Bill de Blasio

Richest royals: This is how much money Europe's royal families get from their taxpayers

There are 14 active monarchies across Europe, ranging from the obvious to the more obscure.

Royal Family

Take a rare look at the enormous mansions hidden behind the Hamptons' famously high hedges

Beyond its beautiful beaches, bays, and lagoons is another type of eye candy native to the Hamptons: gorgeous, hidden real estate.<p>At the end of snaking driveways, with huge shrubs blocking any roadside view, some of the East End's most breathtaking homes are rarely seen — at least until now.<p>Jeff …

Luxury

Where do Washington State's billionaires live? - Curbed Seattle

<i>Editor’s Note: A version of this map was first published in February 2013. It has been updated with the most current information.</i><p>Microsoft founder Bill Gates has topped so many world’s-wealthiest lists for so long that it was a bit of a shakeup when, thanks to an uptick in Amazon shares, Jeff …

Steve Ballmer

A new study claims we can tell rich from poor in split seconds

Rich or poor? The answer may be written on your face.<p>A recent study by researchers at the University of Toronto has found that we are able to judge a …

Psychology

After a decades-long legal battle, beachgoers can stroll through billionaires' backyards on a 1.5 mile stretch of sand in Malibu

Nicknamed "Billionaire's Beach" — an homage to the ultra-wealthy residents who call it home — Carbon Beach is a 1.5-mile stretch of sand that sits between the iconic Pacific Coast Highway and the glistening Pacific Ocean in Malibu, California.<p>Up until mid-2015, the beach was largely closed off to …

Luxury