The firm reports that although the West accounted for a third of luxury revenue last year, states across the Southeast including Florida, Georgia and the Carolinas are expected to post the fastest growth through 2030. The region's appeal includes low taxes, warm weather and access to high-end amenities. Realtor.com senior economist Anthony Smith said the forecast aligns with long-term trends. Following a surge in demand and pricing during the pandemic period,
Zohran Mamdani's election as mayor of New York City has thrust the US democratic socialist movement into the national spotlight. If Mamdani's triumphant affordability platform-which includes plans to provide universal childcare by increasing taxes on high-income earners-is implemented, it could lead to a significant transfer of wealth from the wealthy elite to the working class and provide a blueprint for socialist leaders across the country.
As a wealth advisor, I've noticed that my clients often have two reactions to meetings with me. They come out relieved, and even say "That felt like therapy." Or, they emerge worried that they shared too much. Money is really hard to talk about. So is death. It's no wonder that planning for inheritance is fraught for many families. That's why I decided to become a certified financial therapist in addition to a wealth advisor.
Possibly advisors don't prioritize Gen Xers because they carry more credit card debt than any other generation. Or maybe it's because they are struggling to raise their children and put them through college while simultaneously taking care of aging parents. Younger Gen Xers are in mid-career, still paying off their student loans. As they age, many will have adult children returning to the nest.
The generational transfer of nearly $124 trillion in assets over 25 years will profoundly impact families, advisers, businesses, and every segment of the financial industry.
