Author: John Smith

John Smith is an accomplished financial writer with a focus on stocks and cryptocurrencies. He has a Bachelor's degree in Finance and has been working in the financial industry for over 10 years. John has a deep understanding of both traditional and alternative investments and has a proven track record of helping his readers make informed investment decisions.

An Upwork study found that 64 million people, or 38% of the U.S. workforce, did freelance work in 2023. This is 4 million more than the year before. Freelancers not only grew in number but also made a lot of money. The study said they added about $1.27 trillion to the U.S. economy last year. Freelancers aren’t just earning a bit extra for their retirement or emergency fund; they’re replacing their salaries and sometimes making even more than in their old jobs. If you want to join the self-employed trend but worry about money, here are 4 tips to become…

Read more

Hackers stole more than twice as much cryptocurrency in the first half of 2024 compared to the same period last year, according to a report from blockchain research firm TRM Labs. The report indicated that $1.38 billion worth of crypto was stolen between January 1 and June 24, up from $657 million during the same period a year ago. Just like last year, a few major attacks were responsible for most of the stolen crypto, with the top five hacks accounting for 70% of the total amount stolen in the first half of this year. Understanding Crypto Security and Recent…

Read more

The global tax landscape is evolving rapidly. Laws and regulations about taxes are always changing. Recently, there have been many important developments, like the OECD’s Pillar Two rules, the introduction of CESOP (Central Electronic System of Payment information), and ViDA rules (VAT in a Digital Age) in the EU. There are also new requirements for electronic reporting and invoicing. These changes mean more rules to follow and will affect how you handle taxes. Everyone is thinking about how to prepare for them—so much that “adapting to changing tax laws and regulations worldwide” was the top challenge mentioned in Deloitte’s 2023…

Read more

Warren Buffett gave his largest yearly donation on Friday, giving $5.3 billion in Berkshire Hathaway shares to five charities. The famous investor, who will be 94 in August, changed 8,674 of his Berkshire Class A shares into over 13 million Class B shares for the donation. According to a statement on Friday, 9.93 million shares went to the Bill & Melinda Gates Foundation. The rest went to the Susan Thompson Buffett Foundation, named after his late first wife, and the three charities run by his children Howard, Susan, and Peter Buffett. The “Oracle of Omaha,” Warren Buffett, has promised to…

Read more

Buy now, pay later options are getting easier for people to use. In a survey from April 2024, a quarter of Americans said they used these services in the past year, according to a report from NerdWallet. The number of buy now, pay later loans went up almost 1,100% from 2019 to 2021, based on data from the Consumer Financial Protection Bureau. Some analysts are worried about the fast growth because more loans mean more debt, but it’s not clear how much debt there is. A Wells Fargo report from December 2023 said that while the ‘Buy Now, Pay Later’…

Read more

People call Warren Buffett the Oracle of Omaha for a good reason. Every year, thousands of investors go to Nebraska to hear him talk at the yearly meeting of his company, Berkshire Hathaway. Millions more people around the world watch, listen, and read what he says. It’s no surprise that people wanting to make money are interested in Buffett’s advice. With an estimated net worth of over $120 billion, he clearly knows what he’s doing. But Buffett’s followers aren’t just looking for financial advice. When he answers questions, he’s often asked about the secrets to a better life in general.…

Read more

Henley & Partners, a firm that helps people move to different countries for investment purposes, recently published its yearly report on wealth in the US. The report includes a list of the richest cities in the US based on the number of residents who are millionaires. The top five cities on the list are the same as last year. However, Henley & Partners pointed out a trend they call a “millionaire remix.” This refers to an increasing number of wealthy Americans and foreigners moving to cities like Austin and West Palm Beach in recent years. According to the report, the…

Read more

In today’s world, family offices face various risks. It’s not just about financial stability and investments anymore. Wealthy families and their offices are at risk of harm to their reputation, physical safety, online security, and more. Becoming an expert in every area of risk control and management is probably impossible. But for family offices wanting to update their operations and ensure the safety of future generations, it’s essential to grasp the changing risks they face. 1. Grasping the Evolving Risk Situation A recent online talk about risk for family offices showed that change is always happening. Family offices need to…

Read more

Although they remain a very small minority in the 401(k) landscape, the number of 401(k) participants with balances exceeding $1 million reached a record high at the end of the first quarter this year, Fidelity Investments announced on Thursday. Specifically, 485,000 of them. This represents a 15% increase from the 422,000 accounts recorded at the end of 2023 and a 43% rise compared to a year ago. As one of the largest providers of workplace retirement plans, Fidelity’s 401(k) data encompasses over 23 million plan participants. Bloomberg was the first to report the record number of accounts exceeding one million…

Read more

In the United States, whether you’re classified as middle class can vary depending on your location. In certain states, earning above $150,000 might still categorize you as middle class. GOBankingRates determined the most recent data from 2022, sourced from the U.S. Census Bureau’s 2022 American Community Survey, to establish the income threshold for middle-class qualification in all 50 states. According to the personal finance website, “middle class” pertains to households earning an annual income ranging from two-thirds to double the median income of a given state. In Maryland and New Jersey, the upper limit of the middle-class income spectrum nears…

Read more