Die With Zero or Retire by FIRE? What's Next
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U.S. Boomers Refusing $84 Trillion Wealth Transfer
A recent article discusses how many Baby Boomers in the U.S. are choosing not to pass on their accumulated wealth, estimated at $84 trillion, to their heirs. Instead, they are opting to spend or donate their assets, the “die with zero” mentality, significantly impacting financial planning and wealth management industries. What will this mean for other generations?
Americans Struggle with Record Credit Card Debt
U.S. credit card debt has reached a record $1.17 trillion by the third quarter of 2024, up from $770 billion in early 2021. Many Americans are struggling with financial strain, with 10.75% of cardholders making only minimum payments—the highest rate since 2012.?
High-interest rates, averaging 28.6%, exacerbate the situation, leading to increased reliance on high-interest payday loans. This debt crisis disproportionately affects low-income individuals, minorities, and those with disabilities. What can we do?
New York Bans DeepSeek from Government Devices Over Data Privacy Concerns
New York State has prohibited the use of DeepSeek, a popular AI app developed in China, on government devices due to significant data privacy and censorship concerns. Security analyses suggest that the app contains hidden code capable of transmitting data to China and aligns with Chinese government positions on sensitive political issues. This move reflects broader apprehensions about data privacy and foreign surveillance associated with certain applications. But what happens with U.S. consumers’ data privacy moving forward?
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