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Affluent Consumers Show How to Manage Money for a Richer Life - Business Insider

New research shows affluent people enjoy optimizing their wallets. This can include juggling cards with digital wallets and mobile payments. At Mastercard, we recently caught up with today's affluent — that is, people in the top 10% of household incomes — to inform the creation of the most attractive, exciting card propositions, tailored to their needs.While many interesting habits stood out, my personal favorite is "financial gymnastics," which refers to optimizing wallets as much as possible, juggling payment methods, and strategically using different cards. In fact, as many as 75% of affluent individuals globally "like managing money closely and don't mind spending time doing it," with almost half reporting that they use financial gymnastics to maximize rewards.That said, stacking up rewards is only one aspect of their gymnastics routine. While the affluent manage spending and benefits, they also tend to think long-term and want to build a legacy for their loved ones.To maximize and diversify rewards, the affluent use as many as six different payment methods, including about two credit cards (2.1) on average. Those based in Asia Pacific tend to go even further, juggling approximately 7.5 payment methods.

Affluent Virginia suburb rocked by mansion murder mystery as nanny faces trial

A Brazilian au pair charged with murder in connection to a double homicide at her employers' suburban Fairfax County, Virginia, home in February 2023 is set to face trial. Original article source: Affluent Virginia suburb rocked by mansion murder mystery as nanny faces trial

The lowly bank branch is JPMorgan's key tool to reach the wealthy. Kristin Lemkau explains why.

Kristin Lemkau took over JPMorgan's US wealth business in 2019. After taking on First Republic, she's looking to branches for greater growth. Lemkau, previously JPMorgan's chief marketing officer, took over the newly reorganized US wealth-management division in late 2019. Despite being the country's largest bank, JPMorgan lags behind its peers when it comes to managing money for affluent customers who aren't rich enough for private banking.If all goes according to plan, branch advisors will take advantage of the new products in order to focus on richer clients with $1 million to $10 million in investible assets, Lemkau said. The advisors can direct less affluent clients with simpler needs to hybrid advice or self-directed investing.She had planned to aggressively grow JPMorgan Advisors, the high-net-worth-client unit, by doubling its head count to 1,000 advisors. She has since abandoned a head-count target for the boutique unit, saying it will never resemble Merrill's thundering herd of 13,000-plus advisors.

Affluent Virginia suburb rocked by love triangle murders as prosecutors highlight key evidence

Virginia prosecutors say blood-splatter analysis led to the arrest of Brendan Banfield in connection with the 2023 murders of his wife and an unknown man. Affluent Virginia Husband, Nanny Charged With Murders In Mansion Love TriangleOriginal article source: Affluent Virginia suburb rocked by love triangle murders as prosecutors highlight key evidence

Inside the Wealthy's Playbook: How the Affluent are Mastering Their Money with Financial Gymnastics

Mastercard today revealed that 73% of affluent consumers like to closely manage their money, with 48% even using "financial gymnastics" to maximize rewards. These consumers, who are in the top 10% of household incomes domestically, juggle various payment methods, plan their spending carefully, ... Mastercard today revealed that 73% of affluent consumers like to closely manage their money, with 48% even using "financial gymnastics" to maximize rewards. These consumers, who are in the top 10% of household incomes domestically, juggle various payment methods, plan their spending carefully, and rely on diverse information sources like word of mouth and proactive research.Mastercard's study, which surveyed 29,536 consumers in 23 markets globally[1] (including the affluent in Australia, Hong Kong SAR and India), found that affluent consumers look for many ways to achieve the perfect wallet. Carefully considered payment decisions help them to make the smartest choice for every transaction, earning them points, rewards, and discounts.Their high level of engagement with payment choices extends to how the affluent seek to benefit from their financial institutions, with 69% worldwide trusting that they can take advantage of opportunities offered by their financial services providers.The study also found that affluent consumers take a more intentional approach to their finances to maintain their comfort level. Their payment choices are led by convenience, but not at the expense of safety. Payment methods that are widely accepted, dependable, portable, and quick, with the assurance of security, become top choices.

Republican David Schweikert wins reelection in affluent Arizona congressional district

Republican David Schweikert has won an eighth term in an affluent congressional district in the Phoenix area by fending off a challenge from a Democratic former state lawmaker. Schweikert defeated Amish Shah, an emergency room doctor, Sunday in Arizona’s 1st Congressional District that includes ... Republican David Schweikert has won an eighth term in an affluent congressional district in the Phoenix area by fending off a challenge from a Democratic former state lawmaker. Schweikert defeated Amish Shah, an emergency room doctor, Sunday in Arizona’s 1st Congressional District that includes north Phoenix, Scottsdale, Fountain Hills and Paradise Valley.PHOENIX (AP) — Republican David Schweikert has won an eighth term in an affluent congressional district in the Phoenix area by fending off a challenge from a Democratic former state lawmaker.

Affluent Virginia husband and nanny charged with murders in mansion love triangle

Virginia police say Brandon Banfield was having an affair with his Brazilian nanny at the time of the double murder involving his wife. AFFLUENT VIRGINIA SUBURB ROCKED BY MANSION MURDER MYSTERY AS NANNY FACES TRIALOriginal article source: Affluent Virginia husband and nanny charged with murders in mansion love triangle

We may not know the next president on Election Day. This Arizona swing county could be why

Inside a squat building ringed with a chainlink fence and concrete barriers in downtown Phoenix, election workers on Nov. 5 will begin a grindingly slow tally of every ballot cast in the vast expanse of stucco and saguaro that is Maricopa County, Arizona. In what has become the nation’s ultimate ... Inside a squat building ringed with a chainlink fence and concrete barriers in downtown Phoenix, election workers on Nov. 5 will begin a grindingly slow tally of every ballot cast in the vast expanse of stucco and saguaro that is Maricopa County, Arizona. In what has become the nation’s ultimate swing county, the count here could determine whether Democrat Kamala Harris or Republican Donald Trump will be the next U.S. president.The fast-growing county also has become home to a stew of key demographic groups in the battle for the White House: a growing Latino population, retirees, younger, newly arrived voters and a broad and deep conservative population wrestling with a pivotal splinter group — college-educated, more affluent Republicans who’ve soured on the party’s more pugnacious, and at times anti-democratic, turn under Trump.The change by voters like him is visible by comparing Maricopa’s votes in the 2012 presidential election with 2020. A crescent of more affluent neighborhoods ringing central Phoenix from the north to the southeastern edge, where a new Intel chip plant has attracted high-tech workers, switched from Republican to Democratic.

I've been to Las Vegas over 50 times. Here are the 9 big mistakes I see most first-time visitors make.

I often watch tourists miss hotel deals, wear the wrong shoes, and forget to make restaurant reservations during their time on the Strip in Nevada.