Homeowners are increasingly forgoing home insurance, gambling that the likelihood of a disaster isn’t high enough to justify the cost of a policy. The national average for home insurance based on $250,000 in dwelling coverage increased this year to $1,428 annually, up 20% from 2022, according to Bankrate. Few people can financially withstand the loss of an uninsured home, according to financial advisers. Continue reading

Ms. Schwartz, who co-founded SMAC Entertainment with retired football player and current television personality Michael Strahan, worked for years in the National Football League before she eventually started her talent management, music, branding and production company. In the latest episode of Secrets of Wealthy Women, she explains how she’s been successful in a male-dominated field, what it’s like to work with rapper Snoop Dogg and gives advice for women who get married later in life. In...

The Senate’s proposed tax change could also hurt digital wealth advisers who rely on algorithms to make investment decisions for investors. Betterment LLC, a robo adviser with $10 billion in assets under management, said its tax-loss harvesting service is a significant contributor to investors’ gains by prioritizing sales of share lots that have decreased in value to offset taxes. But under the tax proposal, that service would be less effective since the oldest shares in a position would have...

When it comes to their personal finances, ultrawealthy individuals share many of the same problems as investors with lower balances. Some of the ultrawealthy—with at least $10 million in investible assets—turn to a peer network to get help and perspective managing and preserving their fortunes. Members of Tiger 21 (which stands for The Investment Group for Enhanced Results in the 21st Century) pay $30,000 a year for admission and do...