BofA’s 2024 Study of Wealthy Americans surveyed more than 1,000 people who had at least $3 million in household investable assets, and found that 72% of those aged 43 and younger were “skeptical” about solely investing in traditional assets. Conversely, just 28% of those aged 44 and above were cautious about holding all of their
Young people are increasingly adopting alternative career paths, opting to forgo the traditional four-year university route in favour of entering the professional workforce through different means. This trend reflects a significant shift in career aspirations and educational choices among Gen Z, who are prioritising financial stability and practical experience over traditional academic credentials. A growing
Surprise, surprise. Gen Z doesn’t like banking. A lot of Gen Zers might just be bank-shy, according to a new survey by Socure, a digital identity verification provider, which found nearly half of Gen Z respondents wished they applied for financial accounts earlier in life but also did not feel prepared to enter the financial
At a time when every financial decision counts, many small to medium-sized businesses (SMBs) can at least take some comfort knowing there are a wide variety of borrowing tools available if needed. Today’s entrepreneurs can choose from reward-earning credit cards; merchant loans; bank loans; buy now, pay later (BNPL) products; lines of credit and more.
Rockaa / Getty Images As we live in a multigenerational America, with each generation comes different views on money. Whether it’s investment strategies, spending habits or confidence in their financial knowledge, each generation differs from one another when it comes to their finances. However, among all of the generations, it’s Gen Z that is proven
Canadian Prime Minister Justin Trudeau ’s government announced Tuesday it is imposing higher taxes on the wealthiest Canadians as part of the federal budget. The budget proposes to increase the capital gains inclusion rate, which refers to the taxable share of profit made on the sale of assets. The taxable portion of capital gains above $250,000 Canadian
One should properly diversify the portfolio, but over or under-diversification will not work. Reasonable diversification is important, says Mukesh Kochar, National Head of Wealth, AUM Capital. In an interview with MintGenie, Kochar said that investors must refrain from investing in a sole financial instrument or those of the same kind of instruments, as putting all
As the year draws to an end, it’s essential to assess our financial situation, focusing on debt, which can pose a significant challenge, especially for individuals with fixed incomes. A considerable segment of the populace, particularly those with a fixed income, inevitably faces debt. However, indulging in irresponsible borrowing can result in complications. Numerous individuals