17-year millennial bull market; Student loan forgiveness

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Trust in trusts

In light of the revelations surrounding billionaires exposed in the Pandora Papers, it’s important to know that offshore and domestic trusts aren’t always covert operations. There are in fact many legal family planning agreements established for purposes other than tax benefits by US and non-US taxpayers, for example. protection against creditors. The secrecy surrounding these trusts leads some to believe that they are fraudulent, but it is perfectly legal for a US taxpayer to establish a trust in an offshore jurisdiction and for a non-US taxpayer to establish one in the United States.

The forgiveness of student loans is extended, watch out for the movement of scholarships

This week, the Biden administration announced a significant expansion of the civil service loan forgiveness program that could benefit nearly 600,000 student loan borrowers, according to the Education Department. here is an overview of the changes, including who may be eligible and how to request relief.

Are you planning to get a private scholarship to cover high tuition fees? Think again. Most colleges require students to declare when they are awarded a private scholarship, which could reduce other forms of financial aid such as grants. A survey conducted by Student beans, found that 50% of American students who receive private awards have experience moving stock market.

The government’s need to raise the debt ceiling may impact your portfolio; you may see higher interest rates, lower investment returns, and overall economic instability.

Ineffective portfolio, side effects of the debt ceiling

Having too many funds in your investment portfolio can cause holdings to overlap, which is not the most efficient way to maximize your returns. when you have too many mutual funds and index funds in your retirement account, each can contain hundreds or even thousands of individual stocks. Sometimes less is more, especially when your funds don’t work together.

Potential public debt default could prevent 56 million Americans from receiving Social security payments on time or not at all. And nearly 100 million people could temporarily lose Medicare, Medicaid, and children’s health insurance benefits. Goldman Sachs

GS
warned in a note to clients this week that the uncertainty in Washington “looks riskier than usual” and is starting to resemble the 2011 crisis that triggered a market correction.

Novel Graphic: How Rich is America’s Richest Person?

Source: Forbes 400

Bitcoin and the surge in oil

Although it is still around 15% below the all-time high in April, the 10% price increase in bitcoin Wednesday far outpaced market gains, with Cardano’s Ether, Ada and Binance climbing around 6%, 2% and 1% in a 24-hour period, respectively. Part of the price momentum is attributed to the U.S. bank’s launch of a custodial service to help investment managers store private keys for bitcoin.

Bitcoin isn’t the only thing on the rise. Traders are also considering the rise in oil prices, which are testing the level of $ 79 last reached in November 2014. With the energy crises in Europe and China, some investors believe there are fundamental reasons for the rise oil prices. Check Out More Market Updates This Week here.

During our SHOOK Top Advisor summit in Las Vegas, one of our speakers,Thomas Lee, said a 17-year bull market is possible as Millennials reach their economic peak in 2038 when he believes this group will reach their highest income level. The Silent Generation peaked in 1929, the Biggest Generation peaked in 1974, Baby Boomers peaked in 1999, and Generation X peaked in 2008. As Lee contemplates the rise of the millennium, he sees the possibility of a bull market for a considerable future.

The richest 29-year-old in the world

See how one of the Forbes 400 richest Americans raised $ 22.5 billion before turning 30 by profiting from the cryptocurrency boom. FTX co-founder Sam Bankman-Fried wants his wealth to survive long enough to give it all. Its cryptocurrency exchange, which allows traders to buy and sell digital assets like bitcoin and ethereum, raised $ 900 million from Coinbase Ventures and SoftBank in July for a valuation of $ 18 billion.


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