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  SmartAsset

  I Want to Give My Daughter and Her Husband $50,000 For a Down Payment. Do I Have to Worry About the Gift Tax?

  Imagine you have $50,000 to give to your daughter and her husband for a down payment on their new home. The question is, will you owe gift taxes because of your generous gesture? Despite popular framing, the federal gift and estate taxes only apply to very wealthy households. Unless you have approximately $13 million to […] The post I Want to Give My Daughter and Her Husband $50,000 For a Down Payment. Do I Have to Worry About the Gift Tax? appeared first on SmartReads by SmartAsset.

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  Benzinga

  Are You Rich? Here's What Americans Think You Need To Be Considered Wealthy

  In the United States, the concept of being rich is often a subject of discussion, curiosity and, sometimes, aspiration. Charles Schwab's 2023 Modern Wealth Survey provides insights into this topic, revealing that the average American equates being wealthy with a net worth of approximately $2.2 million. Although the most recent data from the Federal Reserve reveals the average American household is a millionaire with a net worth of $1.06 million, looking at the median or midpoint value portrays a

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  SmartAsset

  I'm 55 With a $2 Million Net Worth and $6k in Monthly Expenses. Can I Retire Now?

  Retiring early raises a series of questions around both income and spending. You will need to manage your portfolio for longer-term drawdowns, an early end to new earnings, and a long wait for Social Security to kick in. You will need to manage your spending around new needs, particularly health insurance, long-term care insurance and […] The post I'm 55 With a $2 Million Net Worth and $6k in Monthly Expenses. Can I Retire Now? appeared first on SmartReads by SmartAsset.

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  Barrons.com

  Tesla and Rivian Get Another Electric Pickup Truck Competitor: VinFast

  The Vietnamese electric vehicle start-up VinFast Auto made a splash with its pickup truck at the Consumer Electronics show in Las Vegas Tuesday. VinFast unveiled the VF Wild pickup truck. A prototype is on-site in Las Vegas, but the Wild is intended for production and sale.