MONEY MASTER

A recent Bloomberg survey reveals that the wealth of American investors is poised to grow, regardless of whether Donald Trump or Kamala Harris wins the upcoming November 5 election . The survey suggests that stocks are expected to perform well under both candidates, though Trump is viewed as more favorable for Bitcoin and gold , while a Harris presidency could provide a slight relief in housing costs . According to the Bloomberg Markets Live Pulse survey , 38% of respondents believe stock market gains will accelerate under Trump, compared to 13% who anticipate the same under Harris. Still, nearly half of investors expect the stock market to continue its strong performance under the Democratic candidate, with 59% predicting similar results under Trump. Historical data shows that US elections tend to have a limited long-term effect on the markets. Analysts at Deutsche Bank AG , led by Jim Reid , note that 13 of the last 15 US presidents saw annualized stock returns of between 10...

China has begun cracking down on overseas investment gains by its ultra-rich , marking a significant shift in the country’s tax enforcement strategy, according to insiders. In recent months, wealthy individuals across major Chinese cities have been summoned by tax authorities for meetings to assess potential payments, including back taxes from previous years. The enforcement aligns with President Xi Jinping’s “common prosperity” campaign , which aims to reduce wealth inequality. Wealthy individuals could face up to 20% tax levies on their investment gains, with some also subject to penalties for overdue payments . However, the final amounts are negotiable , according to those familiar with the matter. This move is part of the government's broader effort to boost revenue , especially as land sales decline and economic growth slows. China’s tax authorities are leveraging data from the Common Reporting Standard (CRS) , a global system aimed at preventing tax evasion. Since 2018, C...

A record-breaking 55 million dirhams ($15 million) was spent by a wealthy bidder on a rare car license plate in Dubai, surpassing the previous United Arab Emirates record established over a decade ago. Emirates Auction LLC sold the P 7 license plate, appearing like the number 7 with the P set aside, during a charity auction on Saturday. The proceeds will be donated to the global food aid initiative, 1 Billion Meals Endowment, led by Dubai ruler Sheikh Mohammed bin Rashid. The UAE has a tradition of auctioning vanity plates, which the ultra-rich use to flaunt their status and wealth, for charitable causes. The recent auction broke a 2008 record when local businessman Saeed Abdul Ghaffar Khouri paid 52.2 million dirhams for a plate with the number 1 in Abu Dhabi. The identity of the recent auction's winner remains undisclosed. Exorbitant prices for vanity plates are not exclusive to the Middle East, as a single-letter "R" plate was auctioned in Hong Kong this year for HK$25...

IN recent years, the level of household debt among Malaysians has been a matter of growing concern, as the statistics show that the average person is way over his head in debt. Based on Bank Negara figures, the typical household borrowing is a shocking 140% of disposable income. That's something to think about, as it means that at least half of Malaysians are struggling desperately with their finances. So, they probably have very little idea of how they can become financially free, let alone wealthy. Incredible, isn't it? Most people we know would like to be free of financial worries and to enjoy a high standard of living, but so few seem to get it right. The journey towards financial success begins by first knowing where you are. Strangely, many people in the middle class find it difficult to answer this question: are you middle class, financially free or rich? In my latest book, Set Yourself Free: How To Optimise Money and Become Wealthy With Minimum Effort and Risk, I have t...

It's been like a while since I last update this blog, but finally I intended to update this blog with an article that I found which suits the blog very very much. It is about how the richest 400 people in the United States of America got so rich, and basically the summary of the article is stocks will outperform any form of other investment. The article is as follows:-   In 1992, the 400th richest person in America made $24 million. In 2007, the 400th richest person in America made $138 million (or $87 million, inflation-adjusted). Now, that almost certainly wasn't the same guy. There's a lot of churn at the top of the money pyramid. In all of the 1990s, only 25% of the Fortunate 400 made more than one appearance. But the overall message is the same. The rich keeping getting richer. According to the IRS, which recently released 2009 data from the 400 richest individual income tax returns, the real runaway growth in wealth has come from capital gains. In the la...

As I was browsing through some Financial articles, I came across this one .... How the Middle Class Became the Underclass. I am sharing the article because I feel that the article really fits the blog theme, in which we are talking on the Realm of Wealth. The article simply reflects the truth of the rich will get richer. Below is the full content of the article which you can also get it from Yahoo Finance. ******* Are you better off than your parents? Probably not if you're in the middle class. Incomes for 90% of Americans have been stuck in neutral, and it's not just because of the Great Recession. Middle-class incomes have been stagnant for at least a generation, while the wealthiest tier has surged ahead at lighting speed. In 1988, the income of an average American taxpayer was $33,400, adjusted for inflation. Fast forward 20 years, and not much had changed: The average income was still just $33,000 in 2008, according to IRS data. Meanwhile, the richest 1% of Americans -- t...

There is this book called The Millionaire Next Door by Thomas J. Stanley and William D. Danko regarding the process of every one to accumulate great wealth. Don't get me wrong, this book is not giving the tips on how to get rich in 5 minutes, but rather the slow and steady process of successfully accumulating wealth. According to the book, there is a formula to calculate or benchmark whether a person has successfully accumulate wealth according to their age and income and it summarizes into the following:- Multiply your age by your gross annual income from all sources except inheritances. Divide this by ten. This, less any inherited wealth is what your net worth (excluding home equity) should be. There are few classification of wealth accumulator and is as follow:- A prodigious accumulator of wealth (called a PAW throughout the book) has a net worth twice as high as this formula. An under accumulator of wealth (UAW) has a net worth under half of this. An average accumulator ...