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The number of Miami millionaires has increased by 75% over the last decade

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Miami, millionaire,


The influx of the ultra-rich into Miami has skyrocketed, with the number of millionaires increasing by 75% over the past decade.

Charlie Garcia, managing partner at R360, an exclusive community of ultra-rich individuals with a median net value of roughly $400 million, noted: “If you look at the number of billionaires who have moved to Florida, it’s unbelievable. This causes problems.” He he said “Making dinner reservations has become much more difficult.”

The “305” has turn into one of the hottest destinations for millionaires and billionaires in the US, and the millionaire population growing 90% in West Palm Beach and 75% in Miami over the past decade, in accordance with the 2023 Wealth Report. Miami is one of the 4 cities with the highest concentration of millionaires, centimillionaires and billionaires.

Garcia attributed the surge in R360 members in Florida partially to recent tax law changes in states like Washington, which imposed a 7% capital gains tax in 2022. “It’s not what you have or what you do, it’s what you keep… what you keep every year, what you keep when you die… what you keep if there’s a slip and fall in your house and they pursue everything,” he said.

Florida’s lack of state income tax, estate tax and capital gains tax make it a sexy destination for the ultra-wealthy who need to preserve their wealth.

The most notable recent transfer is Jeff Bezos, who moved from Washington to Miami. According to , the billionaire is predicted to avoid wasting about $600 million in taxes over the next yr by unloading inventory of e-commerce giant Amazon. While some states, resembling California, Connecticut, Hawaii, New York and Washington, are imposing or proposing additional taxes on the wealthy, the Sunshine State’s tax-friendly policies proceed to draw the ultra-wealthy.

“Regulations won’t make people move if there are no other reasons to move… it’s a much more complex decision,” said Barbara Goodstein, one other managing partner in R360’s New York office.

She emphasized that Florida’s appeal as a destination for the wealthy goes beyond its favorable tax policies, but it’s also highly wanted for its warm weather, housing and cultural attractions.

reported that there was a rise in distant work played a key role in driving the state’s population growth, giving professionals greater flexibility to relocate. However, it isn’t just individuals who’re behind this influx; businesses are also coming to the Sunshine State in droves.

HireAHelper.com’s comprehensive evaluation of SEC filings revealed a remarkable 86% increase in the number of corporate headquarters established in Florida in the 12 months ending March 2023 – the highest growth rate of any state. The study also found that three Florida cities – Jacksonville, Tampa and Miami – secured positions amongst the top 10 U.S. cities for gaining the most corporate headquarters, underscoring the state’s growing attractiveness as a business center.


This article was originally published on : www.blackenterprise.com
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Business and Finance

Can listening to music increase your productivity at work?

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Listening to music can improve our lives in some ways – a lot of us use it while exercising, to regulate our mood, or at work.

But does listening to music within the background while working really increase productivity?

This is a controversial topic. Some people swear by it, others find it painfully distracting. Research confirms that there isn’t a universal answer to this query.

The best way to use music within the workplace relies on several aspects, including your personality traits, what you do and what form of music you listen to.

Here’s how to discover what’s best for you.

Who are you

Your personality has a key influence on whether background music can enhance your productivity or be a distraction within the workplace, which relates to your unique optimal arousal level.

Arousal on this context refers to mental alertness and the brain’s readiness to process latest information. Background music can enhance this.

Tests suggests that being at an optimal level of arousal facilitates a state of “flow”, increasing efficiency and productivity.

Introverts may have less external stimuli – akin to music – to focus well.
Ground photo/Shutterstock

Introverts have already got a high basic level of inner stimulation.

Adding background music may exceed optimal levels, possibly reducing productivity.

On the opposite hand, extroverts have a lower baseline level of internal arousal, in order that they need more external stimulation to perform at optimal levels.

That’s why introverts can look worse than extroverts with music within the background, especially when it is vitally exciting.

What are you doing

Research has shown that the character of the duty performed may also have a big impact.

Due to connections between music and language within the brain, trying to read and write while listening to complex music – especially music with lyrics – may be particularly difficult.

However, for those who’re performing a straightforward or repetitive task, akin to data entry or a manual task, playing music within the background might help with your productivity – especially upbeat and complicated music.

These findings could also be related to the influence of music on motivation and maintaining attention, in addition to activating the reward network within the brain.

A man in headphones arranges flowers in a flower shop
Complex music can increase the efficiency of some easy or manual tasks.
Krakenimages.com/Shutterstock

Same type of music

An necessary and infrequently neglected factor is the form of music you listen to.

Research has shown this fast and loud music could also be more harmful for complex tasks akin to reading comprehension than soft and slow music.

Other studies have shown that listening to music can have a relaxing effect memory advantageswhile aggressive and unsightly music can have the alternative effect.

However, these effects also depend upon your personality, knowledge of music, and musical preferences, so the form of music that works best shall be different for everybody.

Music may be very satisfying and might have a positive effect on attention, mood and motivation.

Choosing music that’s meaningful, rewarding, and uplifting will likely assist you to increase your productivity, especially when performing easy tasks.

A group of violinists playing in an orchestra
The form of music you listen to can have an effect.
Samuela Sianipar/Unsplash

What about complex tasks?

It largely seems that the more complex and demanding the duty, the more distracting the background music may be.

One way to use the motivating and mood-enhancing effects of music to increase productivity within the workplace is to play music when you work.

Using music for improve your mood and focusing your attention before starting a piece task can assist you to grow to be more productive on that task.

Woman listening to music on the train
Playing music right before a task can provide advantages while reducing the danger of distraction.
XiXinXing/Shutterstock

It has been shown that playing music before a demanding task increase language skills especially.

So for those who’re about to do a cognitively demanding reading and writing task and you’re feeling such as you is perhaps distracted by music if it’s playing at the identical time, try listening to it right before you do the duty.

Find what works for you

Music may be each helpful and harmful to productivity within the workplace – the most effective advice is to experiment with different tasks and several types of music to discover what works best for you.

Try experimenting with your favorite music first by completing a sure bet.

Does music assist you to engage in a task? Or do you get distracted and begin delving deeper into the music? Listening to music without lyrics and with a powerful rhythm can assist you to focus on the duty at hand.

If you discover that music distracts you from your work, try scheduling music breaks throughout the day. Listening to music during breaks can improve your mood and increase your motivation, thereby increasing your productivity.

It is recommended to move to the rhythm of the music increase reward processingespecially in social situations.

Dancing has the additional advantage of getting you out of your chair and moving to the beat, so bonus points for those who manage to get a dance break!



This article was originally published on : theconversation.com
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Allen Media Group begins another round of layoffs

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Byron Allen’s Allen Media Group is undergoing further layoffs. According to an exclusive report published on October 11, the corporate has fired another round. Media Group confirmed that these layoffs were allegedly part of a company-wide growth strategy.

Sources revealed to the socket that Allen Media Group – the owner of several popular affiliated broadcast and news stations – has laid off employees from its weather, news and sports reporting teams. The changes can be visible within the lineup of The Weather Channel, the HBCU Go series, Entertainment Studios and even the final promoting sales departments.

This is just not the primary time employment has been cut at Allen Media Group; earlier this yr, the corporate announced it could be cutting jobs to extend efficiency. An Allen Media Group spokesman said these latest layoffs “are a continuation of the job cuts announced by Allen Media Group in May.”

Byron Allen’s Allen Media Group has revealed that the staffing changes will “improve the positioning of the growing company”.

According to the corporate’s statement, the changes will include “expense and employment reductions across all company departments.” Allen Media Group is a non-public company and has 36 affiliated television stations from ABC, NBC, CBS and Fox. He can be the owner of the digital platform TheGrio.

Although the corporate claims that the newest layoffs are a continuation of those who began in May, sources say that the truth is it’s a very different situation. The dismissed employees were reportedly only informed of the choice, and the uncertainty had an impact on the environment within the affected departments.

In May, the corporate explained in an announcement: “Allen Media Group’s brands continue to perform well, and in many areas our revenue growth significantly outperforms the market.”

“We are adapting these changes to ensure future business opportunities and support our growth strategies in our rapidly growing industry.”


This article was originally published on : www.blackenterprise.com
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Can credit card debt become uncollectible? It depends on the location

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credit cards, personal finance, credit scores, debt


August was a historic moment for Americans. AND report from the Federal Reserve Bank of New York found that Americans owe a record $1.14 trillion on their credit cards. Credit card balances reportedly increased by $27 billion in the second quarter of 2024, a rise of just about 6% from the previous 12 months.

Unfortunately, credit card delinquency rates are also higher. In the second quarter of 2024, 7% of households reported being seriously delinquent on their credit cards (90 days or more) in comparison with 5% at the same time in 2023.

Vonda Copeland, co-owner of Copeland Insurance Agency, he said that with the current economy, high rates of interest and job uncertainty, increasingly more individuals are using credit cards to satisfy basic needs. Unfortunately, it is a terrible recipe for defaulting on payments.

According to them, the average American has a complete balance on their credit card of about $6,501 Experimentand as increasingly more people seek debt relief, questions arise about whether credit card debt can become uncollectible. It seems that it depends on many aspects, including the location of the credit card user.

Factors resulting in bad debt

James Lambridis, founder and CEO of DebtMD, said creditors typically sell unpaid debts to collection agencies inside three to 6 months. Most agencies attempt to withdraw between 20 and 40% of the original balance.

Credit card debt becomes uncollectible after three predominant aspects: the expiration of the statute of limitations, a bankruptcy filing, and a call by creditors to discharge the debt.

If there may be a statute of limitations, it begins when creditors start sending notices and letters looking for payment for the debt.

“If a debt remains unpaid within the statute of limitations – typically three to 10 years depending on the state – the creditor loses the right to sue for repayment,” said Kristy Kim, CEO and co-founder of TomoCredit, adding that the debt is legally time-barred and is legally uncollectible.

Even though creditors lose the right to sue borrowers or collect their wages once the debt becomes uncollectible, Kim says the debt can still appear on your credit report and affect your rating for as much as seven years.


This article was originally published on : www.blackenterprise.com
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