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Wealthy amass record US$121bil in tax-sheltered accounts

NEW YORK: It’s better to give than to receive, the saying goes. But to give, receive an immediate tax deduction and then dole out charitable dollars at your leisure is even better, judging by a recent report.

Are you retirement ready?

THE question most people ask is what would you do after retirement. different people have different aspirations. Some want to travel and others want to do charity work while there are many others who want to spend time with family and indulge in hobbies. Standard chartered recently commissioned an independent study to find out how ready asians were for retirement and what they would like to do. the sample size was 1,000 affluent consumers aged 35 to 59 across five countries - Malaysia, china, Hong Kong, Singapore and taiwan. In most markets, the study revealed that the affluent associated retirement with freedom but the question was, whether they could afford it. about 67% of them started retirement planning well before retirement. the study also revealed that 78% of affluent Malaysians viewed travel as an ideal retirement lifestyle.

Warren Buffett distracts from ‘mind-numbing’ earnings

AS a larger-than-life CEO, Warren Buffett tends to overshadow anything happening within his US$500bil conglomerate, Berkshire Hathaway Inc. Case in point: An entirely inconsequential charity lunch that’s been cancelled between the billionaire and a Chinese cryptocurrency entrepreneur has gotten far more attention than quarterly earnings report from Berkshire will.