Author: Arabian Media staff

The New York Stock Exchange (NYSE) and the Nasdaq did not open for trading on Tuesday morning, Sept. 11, 2001 as terrorists attacked the World Trade Center and Pentagon. The terrorist attack on caused a sharp plunge in the stock market and a $1.4 trillion loss in market value. Key Takeaways The terrorist attack on Sept. 11, 2001 was marked by a sharp plunge in the stock market, causing a $1.4 trillion loss in market value.The first week of trading after the attacks saw the S&P 500 fall more than 14%, while gold and oil rallied.The industries most directly impacted…

When America was attacked by terrorists on Sept. 11, 2001, the entire business community felt the blow. Stock markets immediately nosedived, and almost every economic sector was economically damaged. The U.S. economy was already suffering a moderate recession following the dot-com bubble, and the terrorist attacks added further injury to the struggling business community. Miraculously, however, the markets and business in general bounced back in a relatively short time. By the end of the year, the U.S. Gross Domestic Product (GDP), the total value of all goods and services, had increased over the previous year about 1%, to more than…

Key Takeaways Failing to plan for health care can ravage your retirement finances and even family relationships. A typical 65-year-old couple will need about $330,000 for health care in retirement, according to Fidelity. Medicare covers only part of medical costs and provides little help with long-term care. Long-term care can cost more than $100,000 a year and quickly drain savings. Most Americans are woefully unprepared for the true cost of health care in retirement. Fidelity estimates that a 65-year-old couple needs about $330,000 saved to cover medical expenses in retirement, excluding long-term care, which can add hundreds of thousands more.…

For Gen Xers entering their 50s, downsizing isn’t just a matter of square footage; it’s about freeing up cash flow, reducing stress, and preparing for a confident retirement. But the right timing depends on more than just age. Many Gen Xers still carry mortgages and are managing rising costs. The average monthly mortgage payment exceeds $2,300, squeezing budgets as retirement nears. As adult children move out and lifestyle needs change, downsizing to a smaller home can be a practical way for Gen Xers to better align their retirement living arrangements with their financial goals. Key Takeaways Downsizing can reduce financial…

Image: Supplied Red Sea Global (RSG), the Saudi developer behind The Red Sea and AMAALA tourism projects, will open the first phase of resorts and attractions on Shura Island in the coming weeks, marking a key milestone in the Kingdom’s efforts to expand luxury tourism. The initial launch includes the debut of three hotels, SLS Red Sea, The Red Sea EDITION, and InterContinental The Red Sea Resort,  as well as Shura Links, the country’s first island golf course. “As the heart of The Red Sea, Shura Island represents everything Red Sea Global stands for: bold ambition, deep respect for nature,…

Not all debts can be discharged through bankruptcy, including child support, alimony, certain unpaid taxes, and more. Income tax debt is also very difficult, though not impossible, to get discharged. Most loan debt can be alleviated through bankruptcy. Bankruptcy offers people who are overwhelmed by debt an opportunity for a fresh start through either liquidation (Chapter 7) or reorganization (Chapter 13). In both cases, the bankruptcy court can discharge certain debts, but not all types of them. Once a debt has been discharged, the creditor can no longer take action against the debtor, such as attempting to collect the debt…

Your wine collection represents more than a hobby or a few bottles collecting dust. Collections can also be a curated investment portfolio that could rival traditional investments in both their value and market volatility. A single bottle of Screaming Eagle Sauvignon Blanc can go for over $7,000, and the most expensive bottle of wine ever sold at an auction was a 1869 Chateau Lafite Rothschild that went for $207,075. With single bottles commanding this much, an entire collection can easily sell for six or seven figures. Yet unlike stocks and bonds, wine is a tangible asset, putting it at risk…

For investors seeking alternative assets with the potential for long-term returns and stability, fine wine investments have emerged as a compelling option for diversification—it’s projected that the fine wine market is expected to grow by a compounded annual growth rate (CAGR) of 5.7%, from approximately $1.9 trillion in 2025 to $3.3 trillion by 2035. Combining tangible appeal with strong projected growth, fine wine offers a unique investment path for high-net-worth individuals seeking diversification and enjoyment. This guide walks you through the top ways to buy, hold, and sell wine as part of your portfolio. Key Takeaways Fine wine investments offer…

Did you know that, beyond being a collectable find for enthusiasts, fine wine is also considered an investable asset? There’s certainly some appeal to investing in such a prestigious and timeless commodity—not to mention, its value doesn’t waver in accordance with stock market movements. In fact, fine wine has a history of strong performance, being one of the few luxury items that tends to appreciate with age. This isn’t to say you should shift your investment strategy to incorporate fine wine—particularly if you aren’t a passionate wine enthusiast. The reality is that fine wine as an investment is complicated, thanks…

The rules governing the inheritance of an individual retirement account (IRA) when the IRA owner dies are complicated, but one aspect is straightforward: When the IRA owner dies, the current tax law allows the inheritance, or the total sum in the account, to be accepted tax-free. Beneficiaries of the IRA may be able to withdraw from the account without penalty depending on who is inheriting and how they transfer the funds. Generally, spouses who inherit an IRA have more flexibility than non-spouse beneficiaries if they are the account’s sole beneficiary. Some withdrawals (also known as distributions) from an inherited IRA…