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

On Beacon Hill, tense wait for SJC 'millionaire tax' ruling

All eyes are on the Massachusetts Supreme Judicial Court as it determines the fate of a proposed constitutional amendment that would impose a 4 …

Paid Leave

Asset rich but cash poor?: how to use your property to boost your income

Baby-boomers are often said to be better off than younger generations, but many are struggling to generate enough income in their later years.<p>The over-55s are increasingly referred to as the “sandwich generation”, as they fund their children’s education or first step on the property ladder, often …

Retirement

Why India's Richest Are Seeking Citizenship In Cyprus

India’s wealthy have long coveted foreign passports. Some see it as a ticket to easier tax regimes and more business friendly climates. For others, it’s the desire for a more western lifestyle or the ability to study, work or travel abroad with ease. For rich Indians looking for citizenship or …

Real Estate

Heirs of Heirs of Heirs of Heirs Love Dynasty Trusts

Everyone dies eventually, but if you’re wealthy enough, your money might live forever. Dynasty trusts are a tool to make that possible. Thanks to the …

Retirement

Balancing the Benefit and the Burden of Wealth

So much for that old saw that money can’t buy happiness. A new survey of people who have built significant wealth on their own found that money has actually bought them a lot of happiness.<p>The majority of those surveyed — 300 people with assets of $1 million to $20 million — said they equated wealth …

Multiple Sclerosis

DAFs vs. Private Foundations: How the Wealthy Engage in Philanthropy

DAFs now significantly outnumber private foundations in the U.S., and the gap is widening.

Retirement

Clean Up Your Foreign Reporting Deficiencies Before It Is Too Late

If you still have issues with unreported foreign transactions and accounts, you don’t need a wake-up call. You need to be hit on the head with a two by four. The announcement that the IRS is closing its OVDP (Offshore Voluntary Disclosure Program) program on September 28th might have been your …

Finance

Rich people are buying up dinosaurs because museums are too poor to get them

On June 4, an auction house in Paris will put a highly coveted item on the block: A nearly complete skeleton of a carnivorous dinosaur, almost 9 meters (30 feet) long, believed to have lived during the late Jurassic era 154 million years ago. The world’s paleontologists would love to get their …

Paleontology

Family fight over money in Jonesboro

It's an old story: Ugly family fights over money. Today, the New York Times delves deeply into such a dispute in Jonesboro. <b><br>Bobby McKee,</b> an …

12 celebrities you didn't know were born rich

Plenty of your favorite celebrities have a rags to riches story, but do you know about the ones that have gone from rich to richer? Sure, you've heard the stories about stars like Emma Roberts — whose aunt is Julia Roberts — and the infamous Barrymore family, but there are even more stars who were …

Ariana Grande

Never Mind the Millionaires. Here’s Advice From Billionaires.

The richest offer life lessons about how they got where they are.<p>Last month, I described an email that promised vast riches if I would adopt “The Millionaire Mindset.”<p>This is the sort of silly wishful thinking I hate:<p>Consider, instead, the Cartesian pitch as applied to self-help being sold today:</i> …

Self-improvement

The most expensive private jets in the world

Having never fully recovered since the subprime crisis, the business jet market has recently seen an uptick backed by one of the best US markets in a …

Aviation

Taxation of Athletes and Entertainers Under the New Tax Law

Many adverse effects on the players’ pocketbooks can be mitigated or offset with decisive planning and action.

Taxes

Saudi Royals Fight Over 28-Bathroom California Mansion in Divorce

It’s divorce American-style for two Saudi royals who are duking it out in a Delaware court over an 18-bedroom Beverly Hills compound in a …

Real Estate

How The Wealthiest Person In Every State Got Rich

One hundred years ago, the richest person in California likely would have been a railroad baron. In Texas, it would have been an oil tycoon, and in New York a banker.<p>Today, as the world gets smaller and technology moves faster, the way some of America’s richest people make their money seems to be …

Emerging Markets

Jeff Bezos is spending $12 million to renovate his Washington, DC, mansion — here's what it will look like when it's done

Jeff Bezos is so rich that the value of $1 to the average person is about $88,000 to the Amazon founder.<p>Needless to say, a $12 million home renovation in Washington, DC, isn't a budget crusher.<p>In 2016, Bezos paid $23 million in cash for the property in DC's exclusive Kalorama neighborhood, home to …

Jeff Bezos

Resentment of Crazy-Rich Americans Isn’t Just Envy

People are bothered by a sense that the system is rigged and unfair.<p>In the forthcoming movie “Crazy Rich Asians,” an American woman discovers that her boyfriend belongs to Singapore’s secretive, obnoxious jet set. It’s fun to laugh at the ultrarich when they’re just a caricature on a screen. But …

Peter Thiel

25 richest cities in America: Does your metro area make the list?

Incomes have been on the rise in the United States for the last several years, but of course income levels are not uniform nationwide. According to the U.S. Census Bureau, the typical American household earns $57,617 per year. In some U.S. cities, however, more than half of all households earn well …

Income Inequality

One weird trick in the new tax law can increase charitable deduction value

I’ll admit it. I was so excited to be able to use the “one weird trick” clickbait meme – and actually mean it!<p>As I have written before, the new tax …

What to Do Right Away After Inheriting Money

The first thing to do is absolutely nothing.<p>Turns out, grandma was hoarding millions.<p>Or grandpa. Or maybe your old ex who forgot to update their will, or your aunt who you had a close relationship with, or you’re a participant in any number of scenarios where huge inheritances suddenly come out of …

Pet planning: What happens to your animals if something happens to you?

In today's busy world, you try to have a plan for everything: your work, your finances and even your death, but do you have a plan in place for your …

The 33 richest people on earth

The Sunday Times has published its much-anticipated Sunday Times Rich List for 2018, which ranks the wealthiest people in Britain, as well as the rest of the world— and it gives readers a sneak peek into the net worth of some of the world's most successful entrepreneurs, self-made billionaires, and …

The richest family in the world beat the Koch brothers, Bezos, Gates, and Buffett

The Walton family tops a list of the richest people in the world.<p>According to the Sunday Times’s annual Rich List (paywall), the Walton family’s net wealth in 2018 totaled £128.9 billion ($174.9 billion), thanks to its ownership of the retail behemoth Walmart, which happens to also owns another …

The Impact of Lifestyle Creep on Your Wealth

You're doing well, and as you move up in the world you treat yourself along the way. But while it's important to enjoy life, getting carried away …

Personal Finance

Collector Sues Sotheby’s to Block Basquiat Auction, Exposing Ugly Family Dispute

“This is a case about a broken promise, a family disagreement, and an art masterpiece that, if this Court does not step in now to save it, will be lost to the people who love it, and to New York, forever.”<p>This is not the opening voice-over for a Netflix drama. It is, rather, the first sentence in a …

Fine Art

Big Think

Want to be a better philanthropist? Think like a poker player!<p>When some charities are 100 times more effective than others, world champion poker …

What Consumers Need To Know About Private Equity

There are tons of investment funds out there. Some of these funds are actually traded publicly on the markets. Private equity funds are not<p>Source: …

The Millionaire Next Door

• <b>Author:</b> Thomas J. Stanley<p>The incredible national bestseller that is changing people's lives -- and increasing their net worth!<br>CAN YOU SPOT THE MILLIONAIRE NEXT DOOR?<p>Who are the rich in this country?<p>What do they do?<p>Where do they shop?<p>What do they drive?<p>How do they invest?<p>Where did their ancestors …

This Family Was Amongst the First to Bring Family Offices in India

Managed by the father and daughter duo, RAAY Global Investments was established in 2002 as a family office<p>Opinions expressed by <i>Entrepreneur</i> contributors are their own.<p>You're reading Entrepreneur India, an international franchise of Entrepreneur Media.<p>At a time when families are tearing apart …