Richest Americans

The rich mostly got richer in 2012 thanks to rebounding stock, real estate and art prices, according to the annual Forbes 400 list.

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  • The rich mostly got richer in 2012 thanks to rebounding stock, real estate and art prices, according to the annual Forbes 400 list.  Microsoft founder Bill Gates and investor Warren Buffett held on to their No. 1 and 2 spots respectively while Facebook founder Mark Zuckerberg wasn’t so lucky. He dropped from 14th to 36th after his company’s lacklustre IPO saw the value of his shareholdings cut almost in half, costing him $8.1 billion in net worth. Other social media execs were similarly battered in 2012. Poor guys.
  • Would you pay a contractor cash “under the table” to avoid paying taxes?  Fifty-five per cent of respondents to an HR Block survey said they would. Careful here folks. Proper documentation is your best defence against shady contractors. Instead, try these insider tips to help you save money on your next reno project.
  • The truth is you may not get to decide when it’s time to retire. In fact, one-in-five retired Boomers knew one month or less before their actual retirement that they were going to retire and 42%  had less than six months notice before they retired, according to a new RBC poll. While it’s hard to control what the future has in store when it comes to your health and your employer’s business plans, you can prepare your finances for the unexpected. Start now by reading 6 steps to a wealthy retirement.
  • The make up of the Canadian household is changing, according to the latest Census data. There are now more single-person households than couples and families. Also, good news for all you Boomer parents out there.  The tendency among young adults aged 20 to 29 to live with their parents appears to have levelled off at 42.3%.
  • Attention budget travellers: Air Canada is just weeks away from unveiling plans for its low-cost carrier coming in 2013. Let MoneySense contributor John Lee help you pick your next destination.

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