Jeff Bezos is now the wealthiest person on the planet with a net worth over $150 billion. The top 1 percent of U.S. families controlled 38.6% of wealth in the U.S. in 2016, compared with 22.8% held by the bottom 90%. Warren Buffet donated $3.4 billion to charity yesterday - many his own family foundations - bringing the total he has donated to $24.5 billion. Because the donations were made in the form of stock, they are now worth over $30 billion. (Bloomberg)
About $30 trillion will be passed on to younger generations over the next 30 or so years in the USA alone. Those beneficiaries may have to wait a long time, though as 53% of people polled by UBS recently with more than $1million in investible assets expect to live to be 100. What are you doing to educate future generations and those who will inherit about real estate? (Bloomberg)
63% of affluent children between ages 18 - 22 say financial stability in retirement will depend on inheriting money.
DID YOU KNOW? People over 65 are staying in the workforce at a rate not seen in more than 50 years. Almost 20% of 65 year old plus workers remain working in the USA. Is sixty the new forty after all? Those of us aging (myself included) are healthier than prior generations. How will this impact labor markets? How will this impact real estate? Offices?(NY POST)
DID YOU KNOW? What is the ultimate wedding present? A home of course! And that's exactly what Queen Elizabeth gave Harry and Meghan for their wedding. A cottage (York Cottage) on the 20,000 acre Sandringham Estate, a little over 100 miles from London.
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