Wealth

The mental roadblocks humans tend to throw in front of their efforts to make sound decisions have come to be known as “cognitive biases.” Cognitive biases are so apparent and so inherent that there’s no disputing their existence. Psychological research has identified an array of cognitive biases. Given the foundational level at which these biases
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Jose M. Osorio | Tribune News Service | Getty Images Mayor Rahm Emanuel speaks at a press conference following a Chicago City Council meeting at city council chambers in City Hall in Chicago on Wednesday, July 25, 2018.  The city of Chicago is considering implementing monthly payments to struggling families to cover costs of food,
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If you’re trying to guess where Amazon‘s second headquarters will be, forget about the complicated analyses of metro-area workforces, education levels, housing costs, colleges and tax rates. Instead, take a look at where Jeff Bezos lives and where he spends his spare time. By that measure, Amazon’s HQ2 will almost certainly be in the Washington,
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One of the first decisions you will have to make is whether to take all of your winnings upfront in a lump sum, or take the jackpot in periodic payments — known as an annuity — to you and your heirs. While the lump-sum payment is typically smaller than the advertised prize since you are
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Before the $2 billion fund and compared to fellow billionaires like Gates and Warren Buffett, Bezos’ charitable contributions have been relatively limited. In March 2017, Bezos gave $35 million to Seattle’s Fred Hutchinson Cancer Research Center, reports The New York Times. And, Bezos also gave $1 million to the Reporters Committee for Freedom of the
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The glitz and glamour of summer box-office hit “Crazy Rich Asians” sought to shine a light on an exclusive subgroup of the wealthy elite. But, instead, it pointed to a fast-expanding proportion of Asian society. That’s according to a new report from data firm Wealth-X, which found that Asia is now creating more ultra wealthy
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Hong Kong now has more multimillionaires than New York, as the world’s wealth-creation machine moves East and China’s big cities are minting millionaires at a record pace, according to a new report. The number of people worth $30 million or more grew 13 percent in 2017, to 255,810 worldwide, according to the World Ultra Wealth
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Various long-term studies have shown that, net of fees, actively managed mutual funds tend to underperform the S&P 500. This mounting evidence has prompted various huge institutional investors, such as the California Public Employees’ Retirement System (CalPERS) to move much of their assets into passive vehicles. One problem some investors may have with evidence-based investing
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The cuts follow a spate of even bigger cuts earlier this year. The $250 million mansion in Bel Air California known as “The Billionaire” became America’s most expensive listing when it came onto the market for $250 million in 2017. In April, the price was cut by a massive $62 million, to $188 million. Brokers
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President Donald Trump said Thursday he would consider linking capital gains taxes to inflation, repeating an idea previously floated by his administration that some see as tantamount to a tax cut for the rich. The president made the remarks in an interview Thursday with Bloomberg News. “I’m thinking about it,” Trump said Thursday in the
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European soccer’s Champions League trophy has found a home in Madrid for the past three seasons, as Real Madrid’s three successes in a row has meant it has had a firm grip on the title. On June 1 next year, the famous cup will again be in the Spanish capital for this season’s final. Atletico
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You may not be able to meet your savings targets in addition to paying down debt as quickly as you would like, given your current cash flow. In these instances, one approach to take is to pay down debt more aggressively and assume savings increases in the future as income increases and debt is paid
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