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The greatest wealth transfer in history is here, with familiar (rich) winners

Published Fri, 01 Nov 2024 23:27:35 GMT

By Talmon Joseph Smith and Karl Russell, The New York TimesAn intergenerational transfer of wealth is in motion in America — and it will dwarf any of the past.Of the 73 million baby boomers, the youngest are turning 60. The oldest boomers are nearing 80. Born in midcentury as U.S. birthrates surged in tandem with an enormous leap in prosperity after the Depression and World War II, boomers are now beginning to die in larger numbers, along with Americans older than 80.Most will leave behind thousands of dollars, a home or not much at all. Others are leaving their heirs hundreds of thousands, or millions, or billions of dollars in various assets.In 1989, total family wealth in the United States was about $38 trillion, adjusted for inflation. By 2022, that wealth had more than tripled, reaching $140 trillion. Of the $84 trillion projected to be passed down from older Americans to millennial and Generation X heirs through 2045, $16 trillion will be transferred within the next deca...

Hundreds of migrants are arriving in Denver, again stretching city resources. What’s the long-term plan?

Published Fri, 01 Nov 2024 23:27:35 GMT

When gunfire erupted in front of his uncle’s business in Venezuela, it was the last straw for Jeremy Jimenez. He decided to make the long and dangerous trek to the United States.Jimenez, 22, set out alone, but eventually made friends with others who were fleeing violence. After months of journeying through treacherous conditions in multiple countries, he made it to El Paso, Texas. There, he was told he could get a bus ticket to Denver before ultimately making his way to Chicago, where a friend of his lives.And that’s what he did. Among a crowd of people getting food Tuesday at the migrant processing center on Denver’s Auraria Campus, Jimenez said he wants people to know he’s been treated well and welcomed in Denver. He wants to remain in the U.S. and work.But for now, “I’m just taking it day by day” and making “small plans,” he said in Spanish. “If you have (too many) plans, it can be stressful and weigh you down.”As ...

Colorado wildflowers could be epic this year thanks to abundant snowpack, but other factors in play

Published Fri, 01 Nov 2024 23:27:35 GMT

With Colorado’s snowpack ranging from ample to exceptional this spring, hikers who adore wildflowers may already be envisioning days of strolling along lush landscapes of spectacular blooms under columbine-blue skies when all that snow melts.It could well happen this summer. But because several factors affect the quality of wildflower seasons, and some of them have yet to play out, experts say it’s too soon to predict whether wildflower viewing will be good this year or great. It depends on what happens over the next few weeks.“The mountains are probably going to have a pretty good year,” said Thomas Bates, a plant ecologist for the Arapaho and Roosevelt national forests, which encompass the northern Front Range high country. “The critical time is not now, because there’s still snow. It’s that three to six weeks after the snow melts. We have ample moisture, but it does depend on how that moisture comes off — in the timing, and the rate.”Rosy...

Here's what could happen to the military if the U.S. defaults on its debt

Published Fri, 01 Nov 2024 23:27:35 GMT

(The Hill) - As the United States stares down the barrel of a deadline to raise the national debt ceiling, past and current Pentagon leaders are sounding the alarm on how such an event could be deeply damaging to the country and those who keep it safe.  Disrupted pay for service members, late benefits checks for veterans and a hit to U.S. national security are only a glimpse into what could come.  Defense Secretary Lloyd Austin made that much clear this week, telling lawmakers that the Pentagon “won't, in some cases, be able to pay our troops with any degree of predictability,” should a default come to pass. And Joint Chiefs of Staff Chair Gen. Mark Milley said such an event could also “embolden China and increase risk to the United States.”  The debt limit, is the dollar figure up to which the Treasury Department can borrow to pay for congressionally approved spending decided through the annual appropriations process. The Biden administr...

Raging rivers are replenishing historic Gold Rush spots

Published Fri, 01 Nov 2024 23:27:35 GMT

BUCK MEADOWS — For 170 years, the gold deposits along Sierra streambeds have been so poked and prodded that easy supplies of the precious metal have grown scarce and are a challenge to find.This spring’s raging rivers are regifting them.“There it is!” said Kevin Bell of Sacramento, swirling a pan in the cold waters of Moore Creek, as glitter suddenly illuminated the inky black sand. A half bucket of material yielded 12 showy specks — nearly a tenth of a gram of gold, worth about $7 — about double the typical haul in previous years.Prospectors call it “flood gold” — fine-sized flakes carried by alluvial waters and then deposited as flow recedes.Glowing gold flakes stand out among black sand as Kevin Bell, California director of Gold Prospectors of America, pans for the precious metal along Moore Creek near Buck Meadows, Calif., Tuesday, May 9, 2023. Winter storms sent water blasting through rocks in the Sierra Nevada, leading to what is widely anticipated to be the biggest discovery ...

Fremont: Good Samaritan dies in I-880 weekend collision

Published Fri, 01 Nov 2024 23:27:35 GMT

FREMONT — A driver was arrested after a solo Interstate 880 crash, and a second driver fled on foot after his pickup truck fatally struck one of two Good Samaritans responding to the first crash, authorities said.In a statement Sunday, a California Highway Patrol spokesperson said a Chevrolet crashed around 2:40 a.m. on the northbound I-880 off-ramp to Highway 262/Mission Boulevard, blocking the off-ramp’s lanes.Shortly after, a Mitsubishi’s male driver and female passenger stopped and helped move the Chevrolet to the off-ramp’s right shoulder before parking the Mitsubishi behind it. The Mitsubishi passenger then got out of the car to speak with the Chevrolet’s driver.Moments later, as she stood between the two vehicles, a Ford F-150 pickup truck approached before drifting onto the shoulder and rear-ending the Mitsubishi.The impact pushed it forward into her, the CHP said. She was pronounced dead at the scene, and her identity was not available Sunday n...

Are you a victim of crypto crime? Erin West wants to help

Published Fri, 01 Nov 2024 23:27:35 GMT

Thieves think that stolen cryptocurrency from duped consumers is the perfect crime – anonymous, secret and safe from seizure.Erin West is proving them wrong.In the past year, the Santa Clara County prosecutor and her team have recovered $2.5 million worth of digital currency from scammed Bay Area residents, with about 75 investigations still underway.One victim was an entrepreneur whose cell phone account was hacked, then emptied. Another was a father who was tricked into a fake investment scheme, losing his child’s college fund. Yet another was a grandfather, fooled by the sobs of someone pretending to be his grandson in a car accident. There are hundreds of others.Shining light on a complex world that thrives in darkness, West is crafting legal techniques to find and return once-vanished funds. With cryptocrimes on the rise, she has gained global acclaim, earning invitations to share her strategy at conferences in New York, Boston, Los Angeles and other U.S. cities, even the...

America’s top 100 secret beaches include 8 California gems

Published Fri, 01 Nov 2024 23:27:35 GMT

There are few things more appealing than an uncrowded beach on a sunny summer day — an under-the-radar stretch of strand where you won’t find coolers and blankets monopolizing the sandy expanse.FamilyDestinationsGuide.com, a travel planning site, recently polled 3,000 families to find the best secret beaches across the U.S. It’s no surprise that beach-blessed Hawaii and Florida took seven out of the top 10 spots — but California beaches had a good showing, too.Eight Golden State beaches appear on the top 100, including Wildcat Beach in Point Reyes at No. 8), Bowling Ball Beach in Mendocino (No. 22) and Gray Whale Cove near Pacifica (No. 25). Salt Creek Beach in Dana Point, Hollywood Beach in Oxnard, Enderts Beach near Crescent City, Montaña de Oro State Park south of Morro Bay and Haskell’s Beach in Santa Barbara also made the list.“Not only do these hidden gems offer a chance to escape the crowds and enjoy a peaceful atmosphere,” says execu...

The Oakland teachers strike is over; school to resume instruction Tuesday

Published Fri, 01 Nov 2024 23:27:35 GMT

After days of ramped-up talks and momentum rapidly building, the Oakland Education Association and Oakland Unified School District announced early Monday morning that they reached a tentative agreement on a new contract, ending the seven-day long strike in time for the final eight days of the school year.School was set to resume instruction as normal on Tuesday, with schools open Monday in a modified “transition day” format. The district says teachers may return to class Monday if they wish to do so.“Our collective power forced OUSD to commit to living wages for educators, more resources in our schools, enforceable working conditions & common good issues for our students & their families,” the union said on Twitter on Monday morning.BREAKING: OEA’s Bargaining Team of over 50 Oakland educators has reached a TA with OUSD. Our collective power forced OUSD to commit to living wages for educators, more resources in our schools, enforceable working conditio...

He lost his son to suicide after a ‘sextortion’ scam. Now this lawmaker is fighting to save other teens

Published Fri, 01 Nov 2024 23:27:35 GMT

South Carolina state Rep. Brandon Guffey’s bill criminalizing sextortion is awaiting the governor’s signature after being passed in the state’s House and Senate.(Courtesy of Brandon Guffey) By Faith Karimi | CNNGavin Guffey sent a message to his younger brother and friends in the predawn hours of July 27 last year. It was short and cryptic: The heart-shaped symbol of love — <3 — on a black background.Minutes later, in a hallway bathroom a few steps from his room, the 17-year-old fatally shot himself. His father, Brandon Guffey, says he was at their home in Rock Hill, South Carolina, when he heard a loud thud. It sounded like someone had slammed a bowling ball to the floor.He rushed to the bathroom and found his oldest son bleeding on the floor between the tub and the toilet.For weeks, the grieving family searched for signs of anything they’d missed. Then they found out that scammers masquerading as a young woman had sent Gavin nude photos ...