Wealth in the United States

Herbert B. Rosenberg Joins Ryan as Director

Retrieved on: 
Monday, May 4, 2020

Ryan , a leading global tax services and software provider, announced today that Herbert B. Rosenberg has joined the Firm as a Director in the Commercial Property Tax practice to represent real estate clients in Illinois.

Key Points: 
  • Ryan , a leading global tax services and software provider, announced today that Herbert B. Rosenberg has joined the Firm as a Director in the Commercial Property Tax practice to represent real estate clients in Illinois.
  • Mr. Rosenberg brings a diverse book of business to Ryan, comprised of a wide variety of commercial, industrial, and retail properties.
  • Mr. Rosenberg has been practicing for 50 years and has focused on representing property owners with real estate tax reduction.
  • Ryan, an award-winning global tax services and software provider, is the largest Firm in the world dedicated exclusively to business taxes.

Jupai Reports Full Year 2019 Results

Retrieved on: 
Friday, March 13, 2020

[3]"Active clients" for a given period refers to clients who purchase wealth management products distributed by Jupai at least once during that given period.

Key Points: 
  • [3]"Active clients" for a given period refers to clients who purchase wealth management products distributed by Jupai at least once during that given period.
  • The amount of AUM of Jupai is recorded and carried based on the historical cost of the contributed assets instead of fair market value of assets for almost all AUM of Jupai.
  • Operating costs and expensesfor the full year 2019 were RMB922.6 million (US$132.5 million), a decrease of 37.7% from 2018.
  • General and administrative expenses for the full year 2019 were RMB265.5 million (US$38.1 million), a decrease of 3.4% from 2018.

Encouraging Signs For Black Homeownership Rate as it Rebounds From Historic Lows

Retrieved on: 
Tuesday, February 18, 2020

In general, areas with a higher share of black residents have a higher black homeownership rate.

Key Points: 
  • In general, areas with a higher share of black residents have a higher black homeownership rate.
  • There are some areas where the black homeownership rate is higher than might be expected based on the area's black population.
  • San Antonio has the 37th-highest share of black residents among those included in this analysis, but the black homeownership rate there (42.9%) ranks 14th.
  • The situation is similar in Riverside (15th-highest black homeownership rate; 35th-highest share of black residents), Orlando (6th-highest black homeownership rate; 24th-highest share of black residents) and Sacramento (23rd-highest black homeownership rate; 39th-highest share of black residents).

Global Very High Net Worth Population Grows to 2.7 million with over $26 trillion in Combined Wealth

Retrieved on: 
Thursday, February 13, 2020

The Very High Net Worth Handbook 2020 analyzes the world's very high net worth (VHNW) population (those with $5 to $30 million in net worth) revealing significant growth in 2019, rising by 10.2% to nearly 2.7 individuals.

Key Points: 
  • The Very High Net Worth Handbook 2020 analyzes the world's very high net worth (VHNW) population (those with $5 to $30 million in net worth) revealing significant growth in 2019, rising by 10.2% to nearly 2.7 individuals.
  • The VHNW population's combined wealth increased alongside the population, expanding 10.2% to nearly $26.6 trillion.
  • Further key insights from the Wealth-X Very High Net Worth Handbook 2020 include:
    The VHNW population and their combined wealth grew by over 10%: a sharp acceleration in growth from just 1% in 2018.
  • Historically, Wealth-X has focused solely on tracking ultra high net worth (UHNW) individuals - those with a net worth of $30 million or more.

Industry Top Rated Lake Mary, Florida Financial Planner and Wealth Advisor Broadcasts Newest Radio Show

Retrieved on: 
Thursday, December 19, 2019

Oliver and his team of financial planners at The Hidden Wealth Solution help clients build a market correction and tax protection plan to ensure one's financial safety, liquidity, and retirement savings are secured.

Key Points: 
  • Oliver and his team of financial planners at The Hidden Wealth Solution help clients build a market correction and tax protection plan to ensure one's financial safety, liquidity, and retirement savings are secured.
  • In Oliver's recent radio broadcast, he discussed the importance of proactive 2020' new year's resolution focus on retirement market correction and tax protection planning.
  • To hear Oliver's archived show visit online at: https://thehiddenwealthsolution.com/hidden-wealth-radio/
    The Hidden Wealth Solution is a recognized top rated financial and wealth advisory firm in Lake Mary, Florida.
  • My new book is entitled "The Savings Tax Optimization Plan, the unfair advantage to paying the least amount of tax".

Penn Wharton Budget Model Scores Senator Warren's Wealth Tax

Retrieved on: 
Thursday, December 12, 2019

PHILADELPHIA, Dec. 12, 2019 /PRNewswire-PRWeb/ -- Since Senator Elizabeth Warren announced her proposal to tax wealth, a few questions have arisen: How much money would these taxes actually raise?

Key Points: 
  • PHILADELPHIA, Dec. 12, 2019 /PRNewswire-PRWeb/ -- Since Senator Elizabeth Warren announced her proposal to tax wealth, a few questions have arisen: How much money would these taxes actually raise?
  • Penn Wharton Budget Model (PWBM), the nonpartisan, independent applied research organization housed at the Wharton School of the University of Pennsylvania, has analyzed the budgetary and economic effects of Senator Warren's most recent iteration of her wealth tax proposal, which imposes a 2 percent tax on net worth above $50 million and a 6 percent tax on net worth above $1 billion.
  • Through its analysis PWBM projects:
    The proposed wealth tax will raise between $2.3 trillion and $2.7 trillion over ten years, roughly about $1.0 to $1.4 trillion less than the Warren campaign's estimate.
  • The proposed wealth tax would shrink the economy between 0.9 and 2.1 percent by 2050, depending on how the additional tax revenue is spent.

Survey: 93 Percent Of Voters Want To Keep Employer-Provided Health Insurance Coverage Tax Free

Retrieved on: 
Wednesday, December 11, 2019

With a 419 to 6 vote in the House to repeal the 'Cadillac Tax,' 63 cosponsors in the Senate, and 93 percent of voters who want to keep employer-provided health care coverage tax-free, the message is clear: the time is now to repeal the "Cadillac Tax."

Key Points: 
  • With a 419 to 6 vote in the House to repeal the 'Cadillac Tax,' 63 cosponsors in the Senate, and 93 percent of voters who want to keep employer-provided health care coverage tax-free, the message is clear: the time is now to repeal the "Cadillac Tax."
  • Voters are worried about rising health care costs and they want Congress to keep employer-provided health insurance coverage tax free.
  • A recent poll conducted by Public Opinion Strategies found that:
    93 percent of voters flat out reject the idea of taxing employer-provided health insurance plans.
  • TheAllianceseeks to repeal the40percent "Cadillac Tax" on health benefits and to prevent increased income taxes on workers, families and retirees who rely on employer-provided health coverage.

Robust U.S. Economy Not A Boost For Black Homeownership

Retrieved on: 
Saturday, September 14, 2019

WASHINGTON, Sept. 13, 2019 /PRNewswire/ -- Despite arobust U.S. economy, a strong employment rate, and steadily increasing 401(k) plan earnings, Black homeownership rates continue to drop.

Key Points: 
  • WASHINGTON, Sept. 13, 2019 /PRNewswire/ -- Despite arobust U.S. economy, a strong employment rate, and steadily increasing 401(k) plan earnings, Black homeownership rates continue to drop.
  • Latest U.S. Census data reported the Black homeownership rate at 40.6% compared to the non-Hispanic White rate of 73.1%, a 32.5% gap.
  • The report states that the role federal housing policies have played is largely responsible for stifling Black homeownership growth.
  • The reality of staggeringly low homeownership rates during a period of overall economic growth indicates that there are other powerful forces adversely affecting Black Americans' pursuit of homeownership.

Redfin Report: Racial Gaps in Homeownership, Home Equity and Wealth Widened during the Historic Decade-Long Economic Expansion

Retrieved on: 
Wednesday, July 31, 2019

The resulting 32.5 percentage-point gap in homeownership between black and white Americans is3.6 points wider than it was at the beginning of 2010.

Key Points: 
  • The resulting 32.5 percentage-point gap in homeownership between black and white Americans is3.6 points wider than it was at the beginning of 2010.
  • Meanwhile the homeownership gap between white and Hispanic & Latino Americans widened by half a point.
  • "The growing racial homeownership gap has widened the wealth gap, as home equity remains one of the most significant wealth-building tools.
  • That's likely to contribute to growing economic inequality in the U.S."
    Redfin compiled data on homeownership rates, home equity, net worth and unemployment by race.

Redfin Report: McAllen, Texas, Salt Lake City and Grand Rapids Have the Highest Homeownership Rates for Single Mothers

Retrieved on: 
Monday, June 24, 2019

The metros with the highest rates of homeownership among single moms tend to be relatively affordable.

Key Points: 
  • The metros with the highest rates of homeownership among single moms tend to be relatively affordable.
  • That's followed by Salt Lake City (41.7%), Grand Rapids (41.5%) and Minneapolis (40.3%).
  • All but two (El Paso and San Antonio) of the top 10 metros for single-mom homeownership have higher-than-national overall homeownership rates as well.
  • The metros with the lowest rates of homeownership among single mothers all have overall homeownership rates below the national rate.