Latest news with #Fortunato
France 24
01-05-2025
- Sport
- France 24
Baudin in yellow on Tour de Romandie as Fortunato takes 2nd stage
Fortunato claimed the stage after a solo breakaway on the 157km ride. Baudin, who rides for the EF Education team, stands 5 and 6sec ahead of Belgians Junior Lecerf and Lennert Van Eetvelt respectively. Olympic champion Remco Evenepoel, in his first stage race since a heavy fall in training in December, sits in sixth spot in the overall standings, 52sec off Baudin's pace. The third stage on Friday sees the riders tackle a 183.1km loop around Cossonay, including a category two climb of Col du Mollendruz. © 2025 AFP
Yahoo
29-03-2025
- Business
- Yahoo
Millennial Investors Are Becoming Millionaires Fast: 4 Strategies They're Using
Millennials' wealth has been booming. According to Federal Reserve data, millennials' total net worth has nearly quadrupled since 2019, increasing from $4.54 trillion in 2019 to $16.26 trillion in 2024. Find Out: Read Next: This increase in wealth is particularly notable for millennial investors. A Wealthfront study found that for their millennial investing clients, the proportion of millionaires increased by 144% over the past five years. This is a much larger increase than other generations experienced — the proportion of Gen X millionaires only increased by 31% over the same time period, and it decreased among baby boomers. Here are the strategies millennial investors have been using to become millionaires. The key factor driving millennials' financial success is their approach to investing. 'When comparing asset allocations across generations, data shows that millennials are holding a larger portion of their wealth in equities than older generations were at the same age,' said David Fortunato, CEO of Wealthfront. 'By taking advantage of investments that offer higher risk adjusted returns, millennials have been able to accumulate wealth faster than previous generations.' Learn More: Millennials are also saving more aggressively than prior generations. 'Data shows that their savings rate is significantly higher when compared with the savings rate of older generations,' Fortunato said. 'This is a trend we expect to continue as millennials advance in their careers and continue building wealth.' Millennials' housing wealth grew by $2.5 trillion between 2020 and 2024, The Wall Street Journal reported. 'Housing is the biggest item in most budgets, and whether those funds are used to buy or rent a home can have a large impact on long-term financial outcomes,' Fortunato said. 'While renting is typically less costly on a monthly basis, buying a home offers a number of financial benefits that can help millennials reach their financial goals. 'Crucially, mortgage payments contribute to owning a long-term asset that has historically increased over time,' he continued. 'Recent increases in home values have already benefited millennials in just the past few years.' Among Wealthfront's millennial clients, the average home value increased by more than 40% between March 2020 and February 2025. 'Data also shows that real estate wealth is expected to keep increasing as millennials age, making it a smart addition to a long-term wealth building strategy,' Fortunato said. Since March 2020, the average millennial Wealthfront client's IRA balance has grown by more than 110%; Gen X's average IRA balance only grew by 52% over that time period. 'Retirement outcomes are greatly impacted by three key factors: asset allocation, tax optimization and fees,' Fortunato said. 'IRAs are one of the most powerful tools to save for retirement because they are designed to address each of those factors — IRAs offer significant tax advantages, and when compared with 401(k) plans, IRAs typically have lower fees and offer more investment options. 'Millennials are about two decades away from retirement, which means this generation still has many years for the benefits of investing in an IRA to compound over time.' Saving in IRAs is just one aspect of many millennials' retirement planning strategy. Overall, the generation's investors are on track to have long-term financial success. 'As millennials age, data shows that millennials' retirement assets are expected to become the biggest contributor to their overall wealth when also including 401(k) assets,' Fortunato said. 'In just the last five years, our millennial clients have increased their IRA assets by 110% on average, driven by consistent investments in Wealthfront's diversified portfolios. By taking advantage of smart investment strategies, millennials are putting themselves in a strong position to be well-prepared for retirement.' More From GOBankingRates 4 Things To Watch for as Elon Musk Takes on Social Security 12 SUVs With the Most Reliable Engines Warren Buffett: 10 Things Poor People Waste Money On 6 Big Shakeups Coming to Social Security in 2025 This article originally appeared on Millennial Investors Are Becoming Millionaires Fast: 4 Strategies They're Using Sign in to access your portfolio
The Independent
16-03-2025
- Health
- The Independent
Pope's message for children gathering outside hospital to pray for him
Children bearing yellow and white balloons have gathered outside Rome's Gemelli hospital, offering a poignant greeting to Pope Francis during his fifth Sunday of hospitalisation for double pneumonia. While the 88-year-old pontiff did not appear at his 10th-floor window, he acknowledged the young well-wishers in his prepared Angelus prayer. "I know that many children are praying for me; some of them came here today to Gemelli as a sign of closeness," the Pope shared in the text, which was not delivered live. He added a warm message: "Thank you, dearest children! The pope loves you and is always waiting to meet you." The gathering, organised by the Reverend Fortunato, president of the pontifical committee for World Children's Day, was described as a form of "spiritual medicine" for the ailing Pope. Fortunato called the children's presence "the most beautiful caress", adding, "The children represent a symbolic medicine for Pope Francis. Letting him know that so many children are here for him cheers the heart." The group included 20 children accompanied by the St. Egidio charity and 50 more with Unicef. The Pope traditionally delivers the Angelus prayer from a window overlooking St. Peter's Square, where crowds have swelled due to the Jubilee year he inaugurated in December. In the written text, Francis said he was thinking of others, who like him, are in a fragile state. "Our bodies are weak, but even like this, nothing can prevent us from loving, praying, giving ourselves, being for each other, in faith, shining signs of hope,'' he said. Pope no longer in critical condition Along with a stop at St. Peter's to seek indulgences by walking through the basilica's Holy Door, pilgrims are now also adding a stop at Gemelli, a 15-minute train ride from the Vatican. Doctors this week said the pontiff was no longer in critical, life-threatening condition, but they have continued to emphasise that his condition remained complex due to his age, lack of mobility and the loss of part of a lung as a young man. Still, they are issuing fewer medical bulletins as the pontiff has been on an upward trajectory. An X-ray this week confirmed that the infection was clearing. Francis has not been seen publicly since he was admitted to the hospital on February 14 after a bout of bronchitis that made it difficult for him to speak. Doctors soon added a diagnosis of double pneumonia and a polymicrobial (bacterial, viral and fungal) infection. The first three weeks of his hospitalisation were marked by a rollercoaster of setbacks, including respiratory crises, mild kidney failure and a severe coughing fit. Doctors in the most recent medical update on Saturday said they were working to reduce the pope's nighttime reliance on the non-invasive ventilation mask, which will allow his lungs to work more. The next update will not be issued until the middle of next week, the Vatican said.
