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Donald Trump Net Worth

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Net Worth: $2.9 Billion
Age: 71
Born: June 14, 1946
Source of Wealth: Real estate, Television
Known For: President of the United States
Last Updated: 2017

Introduction

Donald John Trump is the 45th and current President of the United States. Trump was born and raised in Queens, New York City, and earned an economics degree from the Wharton School.

Well before he entered politics, Trump was a businessman and television personality. He built a real-estate empire through The Trump Organization that manages office towers, hotels, casinos, and golf courses. Trump also produced and hosted The Apprentice, a reality television series on NBC, from 2004 to 2015. His current net worth is $2.9 billion as of 2017, making him one of the richest person in the world.

Trump’s Net Worth

President Donald Trump’s net worth has fallen to $2.9 billion according to a Bloomberg analysis. The slumping in net worth is due to the underperformance of his New York properties. Bloomberg estimated that Trump Tower and two other major properties in New York decline by $380 million over the course of the past year.

Trump’s portfolio of liquid assets have jumped to $230 million due to the sale of condo sales and other property holdings. His debt burden also shrunk to $550 million. In the past, Trump has disputed Bloomberg’s calculations. In 2015, he said that he’s worth “much more than $10 billion.”

Google Launches an AI-Powered Jobs Search Engine

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Google officially launches a new jobs search powered by artificial intelligence right on its search result pages that lets you search for jobs across virtually all of the major online job boards such as LinkedIn, Monster, WayUp, DirectEmployers, CareerBuilder and Facebook and others. In doing so, Google turns its powerful search engine into an employment engine.

Job hunters will have a comprehensive way to search for jobs across the internet. Google will streamline job listings and eliminate duplicate jobs posted on different sites. The results will also include employer ratings from current and former workers, as well as typical commute times to job locations.

With its AI-powered jobs search engine, Google will help job seekers to find a new job as efficiently as possible. Google’s search results will displace jobs pulled directly from the biggest job sites on the internet. Job seekers can search for available jobs without having to go to multiple sites only to find duplicate postings and lots of irrelevant jobs.

Amazon on Collision Course With Wal-Mart

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With the purchase of Whole Foods for $13.7 billion, Amazon is on collision course with Wal-Mart. Consumers will see more cost savings as the two giants battles for the market shares in the grocery sector. Reuters reported:

When Wal-Mart Stores Inc bought online retailer Jet.com for $3 billion last year, it marked a crucial moment – the world’s largest brick-and-mortar retailer, after years of ceding e-commerce leadership to arch rival Amazon, intended to compete.

On Friday, Amazon.com Inc countered. With its $14 billion purchase of grocery chain Whole Foods Market Inc, the largest e-commerce company announced its intention to take on Wal-Mart in the brick-and-mortar world.

The two deals make it clear that the lines that divided traditional retail from e-commerce are disappearing and sector dominance will no longer be bound by e-commerce or brick-and-mortar, but by who is better at both.

The stakes are highest for Wal-Mart. Amazon’s move aims at the heart of the Bentonville, Arkansas-based retail giant’s business – groceries, which account for 56 percent of Wal-Mart’s $486 billion in revenue for the year ending Jan. 31. With the deal, Whole Foods’ more than 460 stores become a test bed with which Amazon can learn how to compete with Wal-Mart’s 4,700 stores with a large grocery offering that are also within 10 miles (16 km) of 90 percent of the U.S. population.

Key to Earn More: Sleep More

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If you’d like to earn more money, sleep more seems to be the key to higher wages. A 2016 study from Matthew Gibson of Williams College and Jeffrey Shrader of the University of California at San Diego showed that people who increased their sleep by just one hour a night saw their wages increase by 1.3% in the short run and by 5% in the long run.

The sleep deprivation is not only bad for your health, but it’s also bad for your bank balance. Researchers from the London School of Economics found that just one hour less sleep each night can reduce household income by up to 11 per cent, with the impact accumulating with more time spent awake.

According to a study from CreditCards.com, 65% of Americans are losing sleep over money issues. A recent study by Rand Europe shows that a third of American workers report they regularly get fewer than seven hours of sleep a night, leading to the loss of some 1.2 million working days and robbing the U.S. economy of an estimated $226 billion annually.

Getting more sleep paid a big dividend to your health. In addition, more sleeps help you earn more in the long run. It’s a win-win situation for all employees.

U.S. is the Best Place to Invest

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According to Vanguard Group founder Jack Bogle, U.S. stocks are still the best and investors do not need to take any risk outside of the U.S. for big returns. “I believe the U.S. is the best place to invest,” Bogle told Bloomberg. “I’d bet that the U.S. will do better than the rest of the world. It is a simple bet on which economy is going to be the strongest in the long run.”

In fact, Bogle, who started the first index fund in 1976, put all of his investment in U.S. securities, with stocks and bonds having an equal share of his index portfolio.

One thing Bogle learned from his extremely long career in the investment world is to not follow the crowd. “Every single person I think I have ever talked to tells me I am wrong in this,” Bogle said. “If you believe in the majority, you can just throw my opinion in the waste basket. But on the other hand, I was brought up in this business and I am saying ‘the crowd is always wrong.'”

Since 1993 the S&P 500 Index has jumped more than 421 percent, more than four times the performance of MSCI’s index of world equities excluding the U.S. “I don’t think in the long run [emerging markets] will do as well as the U.S.,” he said. “They are more risky and more sensitive to interest rates, more sensitive to Federal Reserve statements and actions. They don’t have the diversity we have in the U.S.”

Data also show that money flowing into emerging markets and Europe this year dwarfs what is flowing into the U.S. It’s wise for investors to buy U.S. indexes. Why mess with what’s worked? Ignore the crowd and stick with U.S. stocks.

Fed Approved a Quarter-Point Rate Hike

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Despite inflation running below the target, the Federal Reserve announced another rate hike by a quarter point on Wednesday. This second rate hike this year came after the previous rate increase in March. The new benchmark’s range will be 1 percent to 1.25 percent for a rate that is currently at 0.91 percent.

In addition, the Federal Reserve provided more detail on how it will unwind its $4.5 trillion balance sheet the contains debts such as Treasuries, mortgage-backed securities and government agency debt. This is good for America in the long haul as less debts will be more manageable and sustainable. The Fed also thinks that inflation will be less than its 2 percent target throughout 2017.

Savers will enjoy a modest increase in their checking and saving accounts. On the other hand, the interest rate hike negatively affects debtors with adjustable-rate and revolving debt like credit cards and home equity loans. The prime rate that banks use as a baseline for interest rates usually rises immediately after the Fed makes a move. Effective, new loans will be more expensive to consumers.

E-cigarettes Potentially as Harmful as Tobacco Cigarettes

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Electronic cigarettes, or e-cigarettes, are an expensive habit especially for some vaping aficionados that use premium e-liquids. Now there is a study by chemists at the University of Connecticut that shows e-cigarettes are potentially as harmful as tobacco cigarettes. The findings appear in the journal ACS Sensors.

Researchers from the University of Connecticut found that e-cigarettes loaded with a nicotine-based liquid are potentially as harmful as unfiltered cigarettes when it comes to causing DNA damage. The researchers also found that vapor from non-nicotine e-cigarettes caused as much DNA damage as filtered cigarettes, possibly due to the many chemical additives present in e-cigarette vapors. Cellular mutations caused by DNA damage can lead to cancer.

An article on UConn Today explains: “Electronic cigarettes are battery-powered devices that heat up liquid and turn it into an aerosol vapor that can be inhaled. Using e-cigarettes is also called ‘vaping.’ The contents of e-cigarettes, called e-liquid or e-juice, are usually made up of propylene glycol, glycerine, nicotine, and flavorings such as menthol, cherry, vanilla, or mint.”

With the finding of this new research, there is no longer a consensus that e-cigarettes are much safer than regular cigarettes. Karteek Kadimisetty, a postdoctoral researcher in UConn’s chemistry department and the study’s lead author, said: “From the results of our study, we can conclude that e-cigarettes have as much potential to cause DNA damage as unfiltered regular cigarettes.”

E-cigarettes increasing grows in popularity as a less toxic alternative for people looking to break their habit of smoking tobacco cigarettes. The result of the study is an early warning to people who regularly use e-cigarettes because they think there is no harm. Of course, to save money it’s better to avoid e-cigarettes and smoking altogether.

Suze Orman Net Worth

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Net Worth: $35 Million
Age: 66
Born: June 5, 1951
Source of Wealth: Author, Financial Adviser, Motivational Speaker, Businesswoman
Known For: The Suze Orman Show
Last Updated: 2017

Introduction

Susan Lynn “Suze” Orman is well-known as a personal finance author, motivational speaker and television host. With a degree in social work, Suze Orman worked as a financial advisor for Merrill Lynch. In 1983 she became a vice-president of retail customer investments at Prudential Bache Securities. In 1987, she founded the Suze Orman Financial Group. Her popular The Suze Orman Show started to air on CNBC in 2002. Currently, her net worth is $35 million.

Early Life

Suze Orman was born on the South Side of Chicago in 1951 to Jewish parents of Russian and Romanian origin. She attended the University of Illinois at Urbana-Champaign and received a B.A. in social work in 1976.

After graduating from college, Orman moved to Berkeley, California to work as a waitress. In 1980, she borrowed $52,000 from friends and acquaintance to open a restaurant.

At the early stage of her investing journey, Orman lost her entire investment trading options through a representative at Merrill Lynch. She learned this hard lesson that the type of investment her broker put her in was not suitable for her situations, as option trading is considered a high-risk but high-reward investment only suitable for a small group of high-net worth individuals. [Read more…]

More than 40% of Americans Won’t Date a Person With Low Credit Score

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A credit score is a three-digit number derived from your credit history. Not only one’s credit score plays an important role in your ability to purchase a home, it might also affect other’s willingness to date that person.

According to a survey by personal finance website Bankrate.com, more than 40% of Americans say knowing someone’s credit score would affect their willingness to date that person. Half of women and 35 percent of men say a credit score could have an impact on whether they’d find a date appealing.

Bad credit could point to deeper issues of irresponsibility,” one respondent says. “They may be unstable in other areas of their life.” A credit score is an useful tool to evaluate potential mate without knowing all aspects about the partner’s personal finance.

So how does one overcome a low credit score? You should pay off debts and avoid mistakes that can derail your credit score fast. Improving your credit score also saves you a lot of money by letting you qualify for the better rates and terms. It’s a win-win situation that applies to everyone’s personal finance .

Household Net Worth Climbs to Record $94.8 Trillion

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As the stock market hits record high, household wealth in the stock market climbed by $1.3 trillion in the first quarter of 2017. In total, U.S. household net worth climbed by $2.3 trillion, reaching a record $94.8 trillion as the stock market soared and home prices soared.

The Wall Street Journal reported: “The U.S. has about 126 million households, meaning the average net worth of U.S. households is about $750,000.” Meanwhile, household debts increased by about $46 billion in the quarter.

Net Worth Report for May 2017

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As our kid gets off from school for summer break, our family will take a two-month oversea vacation. We have planned this international trip for over a year to take full advantage of anticipation for the long vacation. The study, published in the journal Applied Research in Quality of Life, demonstrated that the largest boost in happiness comes from the simple act of planning a vacation. Indeed, we found that anticipation for vacation really boosts happiness.

I also designated a separate fund for the summer trip to account for the upcoming expenses. I have budgeted $8,000 for daily family spending while on vacation. Vacation makes us happy, so the money is well worth it for us.

As mentioned in previous month, I increased my contribution rate to retirement accounts as long as my cash holding continues to build up. The goal is to save close to the overall 401(k) contribution limit of $54,000.

Here’s the breakdown for May:

Net Worth Report for May 2017: $1,048,045

Future Game Plan

Including company matching contribution, I should hit $18,000 contributions next month. After that I will maintain 50% contribution rate to see how far I get to the $54,000 limit.

During our family’s two-month vacation, I will have to return to U.S. for three weeks for work. I will then fly back and reunite with the family before bringing them back home in August. Essentially, I have to buy another round-trip ticket, but I will enjoy two vacation trips this summer.

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Half Americans Die Broke

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Americans die with an average debt of $62,000, and almost half of them die nearly broke. Maurie Backman writes on The Motley Fool:

“In a recent GoBankingRates study, 69% of adults admitted to having less than $1,000 in the bank, while 34% said they actually don’t have any savings at all. But apparently, this collective lack of savings doesn’t get all that much better with age. A study by the National Bureau of Economic Research found not so long ago that almost half of Americans die nearly broke. Of the general population, 46% of retirees die with savings of $10,000 or less. But that number climbs to 57% among retirees who are single.”

“The problem is that dying nearly broke isn’t just a matter of denying one’s beneficiaries an inheritance. Rather, it points to a frightening degree of financial vulnerability during retirement. If seniors are passing without much in the way of assets, it means that in the years leading up to their death, they’re ill equipped to handle a major unexpected expense, such as a significant medical bill.”

Amazon is Refunding $70 Million In-App Purchases Made by Kids

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The Federal Trade Commission announced that refunds are now available for parents whose children made unauthorized in-app purchases. More than $70 million in charges is eligible for refunds on in-app purchases made between November 2011 and May 2016. It’s another win for consumers. So if your child bought something in an app from Amazon’s app store without your permission, you may get your money back.

Amazon Appstore is preloaded on Amazon mobile devices such as Kindle Fire tablets. Game developers often mix in paid items into free games. Kids are pushed to to make in-app purchases without the parents’ knowledge. According to CNNMoney, “a court found Amazon responsible for stuff that kids bought without parents’ permission, noting Amazon didn’t provide sufficient disclosures or ask parents to approve the purchases children made. It did not require a password to make purchases within apps.”

The FTC had previously settled with both Apple and Google on similar charges, before they caught Amazon. CNNMoney also reported: “In 2014, Apple and Google refunded customers whose children made purchases in their mobile app stores, and the companies were forced to be more explicit about in-app purchases. Both firms no longer call apps “free” when they are free to download but have upgrades you can buy. Amazon sent eligible consumers an email to receive a refund. If you didn’t get one and think you should be eligible, you can click here, or go to the Message Center to find out more information.”

Early Retiree Shares 10 Surprised Things After He Quits His Job

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On Business Insider, an early retiree shares 10 things that surprised him after he left the workforce for good. This early retiree, ESI from ESIMoney.com, decided he has enough at 52 with a $3 million net worth. He share his revelation so anyone that considers early retirement can better prepare for it.

Here are the 10 surprised things:

  1. Mondays became the best day of the week
  2. My colleagues can’t accept I’m retired
  3. I’m busier than ever
  4. I’m in the best physical shape of my life
  5. I’ve gotten very comfortable wearing casual clothes
  6. My family relationships are much better
  7. I’m learning and growing more than ever
  8. I can’t go back to work anymore
  9. The stress is gone
  10. I’ve turned into a morning person

US Supreme Court Protects Consumers’ Right To Refill Ink Cartridges

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In precedent-setting Lexmark vs Impression case in May 2017, the U.S. Supreme Court rules that companies give up their patent rights when they sell an item. This ruling puts new limits on businesses’ ability to prevent their products from being resold at a discount. The ruling is a major defeat for Lexmark International, which was trying to stop refurbished versions of its printer cartridges from undercutting its U.S. sales. On the other hand, it’s a big win for consumers to have the right to refill ink cartridges.

HotHardware reported: “Lexmark originally set its sights on Impression Products, a small company that specializes in remanufacturing print cartridges for resale at prices much lower than what a customer would pay for a “genuine” Lexmark product. These cartridges often have no noticeable difference in performance compared to genuine ink or toner cartridges — the only real difference is that customers can save a lot of money by going the remanufactured route. This secondary market for cartridges not only has implications for regular Joes looking to save a buck, but also businesses that are always looking to cut costs.”

This precedent-setting decision will save consumers money to avoid buying overprice ink cartridges. It’s also a blow to companies like HP and Canon that sell their printers for a relatively low cost with the idea that they will recoup money on sales of replacement cartridges.

The unanimous ruling to protect consumers’ right to refill ink cartridges by US Supreme Court sends a strong message to various industries that sold products are not owned by the seller after the sale. It will benefit customers for years to come.