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To the fine art collector, a rare Picasso makes a sensible investment. But to legions of online investors, a virtual sports card or digital drawing might appear equally lucrative. These non-fungible token (NFT) artworks are backed by a unique computer file tracked on the blockchain to ensure authenticity and scarcity, even in a copy-and-paste world. Not one to sit on the sidelines, Forbes got in on the action this week. An NFT of our latest magazine cover, featuring the Winklevoss twins, sold in an auction Thursday afternoon for $333,333, with the proceeds split between two journalism nonprofits.
Like many facets of our lives, investing looks quite different in 2021. Read on for the latest on tax deadlines, retirement planning and budding blockchain billionaires.
Revenge Of The Winklevii
The towering twins don’t just make for a pricey NFT. With their new digital art marketplace, recently valued at $1 billion, Cameron and Tyler Winklevoss are at the center of redefining the future of money and the creative economy. Senior editor Antoine Gara spent months investigating billionaire Jeff Yass, who is perhaps Wall Street’s greatest gambler. Learn how the secretive trader amassed a $12 billion fortune from giant stakes in companies, including TikTok-parent ByteDance.
In more traditional investing news, the S&P 500 closed at a record-high Thursday, largely buoyed by resurgent tech stocks and optimism. JPMorgan’s
Retirement Made Simple
After a tumultuous year that further divided Americans financially, only 27% of workers now say they’re on track for retirement. Where do you stand? If you’re overwhelmed by the retirement income offerings from the financial services companies, Senior Contributor William Baldwin shares a cheap and simple income plan alternative. And here’s why retirement savers should care about rising bond yields.
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Welcome To New York, The State Tax Collector Is Waiting For You
You probably know the IRS moved tax day back to May 17. But before you take that as an invitation to procrastinate, Contributor Cyrus Purnell explains the value in finishing your taxes sooner rather than later. Top earners in New York City are reportedly on track to pay the highest combined state and local personal income tax rate in the country. The news arrives as New York and Hawaii rank last in the nation on key economic growth measures. Tech companies may have to empty their pockets to the taxman, too.
Novel Graphic: Billionaire Boom—A Record 2,755 Billionaires Made Our List
Biden Keeps Busy
With stimulus in the rear-view mirror, the president has turned his attention to the $2 trillion infrastructure plan announced last week. To pay for it all, Biden plans to raise taxes on corporations—with a special new minimum tax for companies with book incomes of $2 billion or more. Here’s why higher corporate tax rates won’t chase off companies. While the infrastructure plan could slow growth in the short term, it’ll result in substantially more jobs by the middle of the decade, says Moody’s Analytics’ chief economist.
Air Out Those Credit Card Bills
Open the windows, clear out the closet and take some time to spring clean your budget with nine tips from personal finance experts. And as Senator Joe Manchin indicates he won’t support filibuster reform, the path to student loan forgiveness hits another bump in the road.