Month: November 2023

31% of millionaires say they’re part of the middle class, survey finds. ‘People feel squeezed,’ advisor explains

Wealth
Feeling “rich” is increasingly elusive. Even among millionaires, only 8% would characterize themselves as wealthy these days. Roughly 60% of investors with $1 million or more of investable assets said they are more likely upper middle class, according to a recent Ameriprise Financial survey of more than 3,000 adults. To that point, 31% consider themselves
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‘Maid’ author Stephanie Land’s new book tells the story of how this homeless single mom clawed her way out of poverty

Advisors
Stephanie Land Source: Simon and Schuster Stephanie Land’s daughter, Emilia, was 7 months old when Land was forced to leave her volatile life partner. What came next for the single mother was homelessness and food insecurity — but somehow, at the same time, Land also worked to finish her college degree and pursue a writing career.
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Health savings accounts, with a triple tax advantage, are ‘perfect,’ advisor says — but only if used the right way

Personal finance
Delmaine Donson | E+ | Getty Images Health savings accounts offer perhaps the best tax perks relative to other investment accounts. But most account holders use them in a way that dilutes their benefits, data shows. Just 19% of HSA participants invest their account assets, according to a new survey by the Plan Sponsor Council
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Here’s why it ‘doesn’t make financial sense’ for Americans living abroad to give up their U.S. citizenship, one expert says

Advisors
Alexander Spatari | Moment | Getty Images Americans who move abroad still have a responsibility to file their taxes with the IRS, sometimes in addition to taxes paid in their place of residence. Unsurprisingly, the thought of renouncing their U.S. citizenship may have crossed their minds at least once. However, experts advise against the move.
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Average credit card balances top $6,000, a 10-year high, as delinquencies rise

Personal finance
Credit card debt is mounting. Americans now owe $1.08 trillion on their credit cards, the Federal Reserve Bank of New York reported Tuesday. Balances jumped 15% from a year ago, according to a separate quarterly credit industry insights report from TransUnion, while the average balance per consumer hit $6,088, the highest in 10 years. Persistent inflation has put
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Trade Desk shares plunge about 30% on weak guidance tied to auto, Hollywood strikes

Earnings
Jeff Green, CEO, The Trade Desk Scott Mlyn | CNBC The Trade Desk shares plunged about 30% in after-hours trading on Thursday after the ad-tech company issued fourth-quarter revenue guidance that fell well short of analysts’ estimates. Third-quarter results topped estimates. Here’s how the company did: Earnings per share: 33 cents, adjusted vs. 29 cents expected
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Chinese business database Qichacha passes Beijing’s security test for resuming overseas operations

Finance
Chinese business database Qichacha said it passed a data export security assessment that allows the company to resume overseas operations. Vcg | Visual China Group | Getty Images BEIJING — Chinese business database Qichacha said Friday it passed a data export security assessment that allows the company to resume overseas operations. The news signals an
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