The winner takes it all, including financial anxiety. That might be the case for the younger generations who are posed to benefit from the incoming historic Great Wealth Transfer. Boomers, who account for half of the wealth in the U.S., are expected to distribute an expected $72 trillion to their offspring. While that includes some Gen Xers and Gen Zers, the Great Recession-afflicted millennials are likely to be the biggest winners of this reallocation, as they’re the typical children of...

Getty Images North America—Getty Images Warren Buffet is a staunch supporter of many things: the McMuffin, Diet Coke, and philanthropy. The Berkshire Hathaway CEO donated $4.6 billion of his Berkshire Hathaway stock (consisting of about 13.7 million B shares) to five charities in his annual donation on Wednesday. While the number of shares Buffett gives away decreases by 5% each year, it’s his largest in value yet thanks to the company’s climbing stock prices. “Nothing extraordinary has...

Bettmann / Contributor—Getty Images In the words of the genius with uncombed hair and tongue stuck out, everything is relative. The speed of light, gravity, and laws of physics in space all mean that different forces work differently in different places, according to Albert Einstein’s famous Theory of Relativity. As he raked in more money after his life than during it, Einstein’s existence itself proves his theory. Taking Einstein’s teachings and applying them to money instead of space,...

Of course, the TikTok version is a bit more aestheticized and polished than previous generations’ takes on budgeting. Trending videos with up to 200,000 likes usually show a pair of hands sorting wads of cash into various envelopes that all have different budgeting purposes: including gas, groceries, and eating out. The idea of the activity—making budgeting money more of a tangible thing—is that people will stop their spending once they reach the allotted limit of cash in each envelope....

The ultra-wealthy aren’t typically known for asking to be taxed, but a group of 200 millionaires challenged that reputation with an open letter at the World Economic Forum in Davos last week. Known as the Patriotic Millionaires, the group—which includes celebrity Mark Ruffalo and heiress Abigail Disney—called for a solution to end extreme wealth in a petition endorsed by PMUK, Tax Me Now, and Millionaires for Humanity. “You, our global representatives, have to tax us, the ultra rich, and you...