Young, wealthy investors are reshaping the traditional investment landscape by moving away from the conventional mix of stocks and bonds. According to recent research conducted by Bank of America, individuals between the ages of 21 and 43 with a minimum of $3 million in investable assets are showing a strong preference for alternative investments. These
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The Internal Revenue Service (IRS) is facing a significant challenge with a pileup of tax identity theft cases, with roughly 500,000 unresolved cases reported as of April. This number has increased from 484,000 cases in September, indicating a growing backlog of unresolved cases. Identity theft victims have been waiting for more than 22 months for
In today’s digital age, social media has completely transformed the way we approach vacationing. Platforms like Instagram, Facebook, and TikTok inspire us to seek out picturesque destinations, trendy attractions, and photogenic experiences. A survey conducted by Forbes Advisor revealed that a significant number of Gen Zers and millennials choose their travel destinations based on what
As portrayed in the movie “Thelma,” the elderly are particularly vulnerable to scams that prey on their emotions and ability to make quick decisions. The story of Thelma Post, a 93-year-old grandmother who almost fell victim to a family emergency scam, sheds light on the increasing threat of imposter fraud in today’s society. The ease
In recent years, cybercriminals have been increasingly targeting wealthier individuals by exploiting their emotions through what is known as romance scams. These scams involve building a relationship with the victim, gaining their trust, and then persuading them to provide access to their financial accounts or even transfer money directly to the criminal. According to Tracy
As many retirees approach the age of withdrawing funds from their retirement savings, the topic of taxes becomes increasingly important. Surprisingly, only a small percentage of Americans have a concrete plan to reduce taxes on their retirement savings, according to a study conducted by Northwestern Mutual. This lack of preparation can lead to potential financial
Investors have traditionally relied on cash as a safe haven, especially during times of economic uncertainty. However, with interest rates at historic lows and the lure of 5% annual percentage yields on savings accounts, many are becoming complacent with the returns they are receiving. While the safety and stability of cash cannot be denied, experts
Individual retirement accounts (IRAs) are seeing an increase in size, with the median IRA balance reaching $87,000 in 2022, up from $81,144 in 2019. This growth poses potential tax challenges for retirees and their children who inherit these assets. A report from the Employee Benefit Research Institute revealed that a considerable portion of IRA assets
Amidst a challenging year for college applicants, the issue of financial aid has taken center stage in determining which school to attend. The significance of financial aid in the college decision-making process cannot be understated. According to a survey conducted by Ellucian and EMI Research Solutions in March, 76% of students cited the amount of
The U.S. Department of the Treasury and IRS have recently announced final tax reporting rules for digital asset brokers, and this has significant implications for crypto investors. With mandatory reporting set to begin in 2026, investors have limited time to prepare for these new regulations. The new regulations will require digital currency brokers to cover