The number of millionaires worldwide is predicted to increase over the next five years, according to the 2024 Global Wealth Report from UBS. The report states that the number of adults who own $1 million or more is expected to rise in 52 out of 56 developed and developing economies surveyed between 2023 and 2028.
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The recent surge in home prices, which has seen an increase of over 40% from pre-pandemic levels, should theoretically prompt existing homeowners to consider refinancing. However, the current scenario is quite the opposite. With interest rates more than double what they were just two years ago, the cost of pulling cash out through refinancing has
The U.S. Federal Reserve is contemplating initiating interest rate cuts before the end of the year, a move that could have implications for Americans traveling abroad. The connection between interest rate policy and the strength of the U.S. dollar is crucial to understanding this dynamic. A rise in U.S. interest rates in comparison to those
China’s consumer price inflation for June missed expectations, rising only by 0.2% from a year ago. The producer prices, on the other hand, fell in line with forecasts, dropping by 0.8% from a year ago. This data, released by the National Bureau of Statistics, paints a picture of a slow-moving economy with low inflation rates.
When it comes to retirement planning, reducing future tax liabilities is a crucial aspect that should not be overlooked. One popular method that experts recommend for achieving this goal is utilizing a Roth conversion ladder. This strategy involves transferring pretax or nondeductible IRA funds to a Roth IRA, which provides the advantage of future tax-free
Inflation rates may be slowing down, but this does not necessarily translate to a significant reduction in prices for consumers. While the economy is experiencing growth alongside a decrease in the rate of price growth and a thriving job market, the reality is that elevated prices across various sectors persist. According to Mark Hamrick, a
Athletic Brewing Company’s recent announcement of raising an additional $50 million in equity financing has caught the attention of the beverage industry. Led by General Atlantic, this funding round is expected to propel the company into its next phase of growth by increasing production capacity and expanding offerings in global retailers. The demand for nonalcoholic
The housing market has been experiencing some unusual dynamics lately, especially when it comes to the inventory of new homes versus existing homes. While overall inventory is showing signs of improvement, the supply of newly built homes seems to be disproportionately high compared to existing homes. This strange phenomenon can be attributed to the unique
The recent announcement by BP regarding its anticipated impairment of up to $2 billion in the second quarter has sent shockwaves through the market. As a result, BP shares dropped by 2.6% in early trading, reflecting the investors’ concerns about the company’s financial health. The energy firm also highlighted that weaker refining margins and oil
The San Francisco real estate market has been facing significant challenges, with the vacancy rate for office space reaching a record high of 34.5% in the second quarter of the year. This marks a steady increase from previous quarters and is a stark contrast to the low vacancy rates before the pandemic. Additionally, the average