wealthy

Done Deal: Fiscal Cliff Bill Passes the House

A weary House of Representatives passed legislation late Tuesday night that will prevent the long-feared fiscal cliff of broad tax increases and spending cuts. The bill's passage on a bipartisan 257-167 vote sealed a hard-won political triumph for President Barack Obama.

Taxing the Rich: Americans Have It Good, Compared to the French

Many of America's rich are complaining that top tax rates are rising in 2013. But, really, they should be glad the new rates will be so low. France is boosting its top tax rate from 48 percent to as high as 75 percent -- and driving some businesspeople and celebrities to bid their home country adieu.

Even the Rich Can't Retire When They Planned to Anymore

The long recession and slow recovery have forced millions of average Americans to give up their dreams of retiring at 65. But you might be surprised to learn than even among those who have quite a bit of money stashed away for retirement, the vast majority are planning to work longer, too.

Sandy Highlights the Wealth Gap, Forces Rich to Drink Good Wine

A hurricane can be the ultimate equalizer. No matter where on the socio-economic spectrum they stood before the storm, its victims afterward had many of the same needs: food, shelter, electricity and flushable toilets. But some "necessities" are of a more sophisticated nature.

A Million Bucks Ain't What It Used to Be (But It Still May Be Enough)

If you ask Americans worth between $1 million and $5 million how rich they are, their answer will be "not very." That may make some of us chuckle, but the sad truth is that a million dollars today doesn't go as far as it did when we were young -- and it sure won't go as far when we're old.

Why Your 2012 Tax Bill May Jump By $8,000

Thanks to yet another lapse by Congress, more than 20 million taxpayers may pay a tax in 2012 that was originally designed to hit only the ultra-rich. It may not happen -- but you should plan ahead for it in case it does.

Should the Rich Lose Their Social Security Benefits?

For millions of retired Americans, Social Security benefits barely beat earning the minimum wage, while rich retirees who don't need the money receive much larger checks. With the iconic safety net program in budget trouble, should the wealthy be forced to sacrifice those benefits?

How to Live Richly on Just $40,000 a Year

Danny Kofke is a special education teacher in Atlanta. Married with two young daughters, Danny recently wrote A Simple Book of Financial Wisdom: Teach Yourself (and Your Kids) How to Live Wealthy with Little Money. The title says it all. Here are his tips:

How Rich Is Rich? Where We Draw the Wealth Line

America has always had a love/hate relationship with its wealthiest citizens, and the Great Recession has only made it worse. The trouble is, while everybody knows that "the rich" are the enemy, it's hard to determine where exactly the line lies between salt-of-the-earth members of the middle class and the bloated plutocrats.

'Wall Street Wives' Gets Down to Business with Auditions

Devon Fleming's casting call for her planned reality TV series, "Wall Street Wives," attracted the media attention that producers relish, and hundreds of women responded. She allowed The Price of Fame to attend a recent audition, where we got a glimpse of the sort of drama the show might deliver.

World's Millionaires Increased By 8.3% in 2010

Millionaires are back. The number of individuals worldwide with $1 million or more in assets aside from their residence grew by 8.3% to 10.9 million in 2010, topping pre-crisis 2007 levels, according to the World Wealth Report released Wednesday.

Money Advice from World's Most Beautiful Woman

We caught up with Bollywood superstar Aishwarya Rai at the Cannes Film Festival to chat what she's learned about money in her ascent to the top of India's film pantheon. Her answers show that despite her fame and fortune, in matters of finance, she's been wise enough to stay true to her middle-class roots.

Where U.S. Millionaires Will Live in 2020

Prepare yourself for the decade of the multiplying millionaires: By the end of 2020, the number of affluent households that will cross the line into seven-figure status is expected to virtually double the ranks of U.S. millionaires. So where will all that money be going?

What You Can Buy With a Literal Ton of Cash

With more and more financial transactions being conducted electronically, it's easy to forget the physicality of money. What a dollar weighs, or a pile of them. So just for fun, let's start piling up the Benjamins and see what a pound -- or 10, or 100, or a ton -- of C-notes will buy.

The Sorry State of America's Wage Earners

Everyone knows that the typical American household has been running in place or falling behind financially, thanks to stagnant wages and rising prices. But a new study from the the Economic Policy Institute shows that the problem has been endemic not for years, but for decades.

Luxury Biz on Edge After Japan's Earthquake

The Japanese are the world's most voracious consumers of luxury goods, from Louis Vuitton handbags to Cartier jewelry to Hermes high fashion. So purveyors of those luxury goods are justifiably worried about the effect of the Japanese earthquake and tsunami on their bottom lines.