• I tried to spend as little as possible on Carnival’s newest cruise ship. I recommend shelling out for better food and more fun.

    A man taking picture of the Carnival Firenze cruise ship.
    I snubbed all upcharges on the new Carnival Firenze except for WiFi. I wouldn't recommend it.

    • I turned down almost all upcharged amenities during my four-day Carnival Firenze cruise.
    • The new ship has more complimentary family-friendly activities than some of its competitor's latest vessels.
    • But snubbing the up-charged food made for a less-than-amazing cruise.

    Looking for a vacation that lets you ball on a budget? You'll certainly hit your "budget" requirement on Carnival's new Firenze ship — so long as you don't expect to truly ball out.

    Cruises are an economical vacation option. After all, what other ticket includes unlimited food, a hotel room, activities, and the opportunity to see several destinations in one trip — all for less than $80 a day like Carnival is offering in 2024?

    But if you're unwilling to spend more than the base fare, you could have a pretty different vacation experience from your peers who are ready to pay-to-play. At least, that's how I felt during my first Carnival cruise in mid-May on the new Firenze.

    My stubborn stance against upcharged services resulted in a less-than-amazing experience.
    close-up of Carnival Firenze ship model
    Costa, also owned by Carnival Corp, had planned to launch Firenze in China in 2020 but couldn't because of the COVID-19 pandemic. The funnel remains "as a nod to the ship's Costa Cruises connection," a Carnival spokesperson told Business Insider.

    Josh Weinstein, president and CEO of Carnival Corp, the cruise line's parent company, told investors in late June that the company wants to continue to be known as a "cost leader" in the industry.

    Its new ship is a great example of this. Carnival says it's seeing strong demand from its US market. But instead of building a new vessel, the company acquired Firenze and its sister ship from Costa Cruises, another Carnival Corp brand, in 2022.

    Besides WiFi, I refused to front for Firenze's up-charged activities and services.
    empty children's water playground on Carnival Firenze
    Children had a water play area near the waterslides.

    I went on Carnival Firenze for work, which meant I had to cave on the ship's premium WiFi at $85 for all four nights.

    Internet connectivity, specialty dining, and drinks packages are always extra on mass market ships. But over the last few years, cruise giants have added more irresistible pay-to-play amenities to their vessels, all while still luring travelers in with affordable base fares.

    On Norwegian's newer ships, for example, this means paying $10 for a round of mini-golf or $29 for an hour at the VR arcade.

    Not bad compared to Royal Caribbean's new Icon of the Seas, where travelers have to pay $200 for the fanciest restaurant or $49 for a ropes course that could be completed in less than a minute.

    To Carnival’s credit, Frienze had more complimentary family-friendly amenities than some of its competitors’ newer ships.
    mini golf on Carnival Firenze
    Carnival Firenze had a straightforward, unpretentious mini-golf course.

    The mini-golf course wasn't nearly as flashy as Norwegian's. But mini-golf is mini-golf, no matter the number of bright lights and animated courses.

    The same was true for Firenze's ropes course. While it didn't have the same thrilling floor drop as Icon of the Seas', the multi-part walkway was longer, more diverse, and, more importantly, free.

    I much preferred it to the one on Icon.

    Families could spend their afternoons shooting hoops, going on the waterslides, and competing over board games — all without spending a cent.
    person playing basketball on carnival firenze
    Firenze's complimentary amenities include basketball, giant chess, and ping pong tables.

    The arcade was one of the few activities that wasn't free. Then again, they rarely are.

    But don't book Firenze if you're seeking a quiet, relaxing ship. I struggled to find a peaceful public space where I could churn out some work without being distracted by the loud music and guests.

    The only truly quiet space could've been the spa. But again, I wasn't going to pay for a massage.

    In the eveing, I passed the time by catching the nightly movies and attending the theater's shows.
    A busy indoor pool on a cruise ship.
    Carnival Firenze hosts nightly movies by the indoor pool.

    Just know that the latter isn't a must-do. Some singers in the cheesy song-and-dance production "Dear Future Husband" were painfully off-key.

    And if you want to munch on a bag of popcorn during the movie, you'll have to pay $4. Smelling the buttery snack without having one in my hands was a torturous tease.

    Several of Firenze’s bars — like Piano Bar 88 — featured live musicians, too.
    people watching pianist on Carnival Firenze
    Piano Bar 88 featured a live pianist.

    Moda Bar and Lounge also had singers, if you count karaoke night.

    But if you want a drink to accompany the entertainment, you'll have to spend about $13 for cocktails and $9 for beers and seltzers.

    So, late-night foosball it was — for four nights in a row. At least it was free.

    Activities like live music and board games are almost always free on cruise ships.
    King prawns, lobster, snow crab, branzino fish, snipper fish, and oysters on ice with price tags.
    During the day, the breakfast and chicken shack are complimentary. At night, the space becomes a seafood shack that sells $18 lobster rolls.

    But that doesn't exempt Carnival Firenze from the industry-wide push for more pay-to-play amenities. There's a reason the company saw a spike in onboard spending in the second quarter of 2024 compared to the same time last year — despite rising ticket prices.

    I doubt it's solely because of increased participation at Firenze's live "Deal or No Deal" game show, which starts at $25 to play. Or the $4 shuttle from the port at Ensenada, Mexico on day three to downtown (which I regret not paying for).

    In retrospect, I wish I had fallen for Firenze's upcharged foods.
    plate of fried calamari on Carnival Firenze
    The calamari in the main dining room was chewy and greasy, with breading that adhered like a mediocre onion ring.

    Norwegian and Royal Caribbean's newer ships had complimentary dining that was as good as, if not better, than the premium options. I still crave Norwegian Prima's free food hall.

    I can't say the same for my no-fee dining experience on Firenze.

    The ship had six specialty restaurants ranging from teppanyaki to steaks.
    A composite image of a plate of linguine with clams and of the author's finger with a small bit of clear plastic on it on Carnival Firenze
    I found a small piece of plastic in my clams with linguini.

    The cruiseliner has a kitschy Italian theme, as its name might suggest. But if I had wanted to continue the Italian tune with some shrimp scampi and burrata at the Il Viaggio restaurant, I would've had to drop more than $40.

    So, instead, I had my nightly meals in the mediocre main dining room, which served the same dinner dishes as the buffet.

    None of my Carnival Firenze dinners were stellar, and finding a piece of plastic in my pasta didn't help, either.

    I always have juice with my breakfast at home.
    composite of a breakfast burrito and stand where it's made on Carnival Firenze
    Carnival Firenze's chicken and Mexican-Italian fusion stands, located just outside the buffet, also served breakfast.

    But continuing my ritual on Firenze would've meant coughing up $5 per glass. It was tempting, especially as the main dining room server stopped by every table with a tray of the colorful concoctions.

    For lunch, I bounced around options like the Guy Fieri-branded burger shack and the pizza, Italian-Mexican fusion, and Italian sandwich stands.
    A composite image of a buffet and of a menu showing the prices of wings.
    The cost of wings ranged from six pieces for $5 to 24 for $18.

    My no-spend requirement meant I had to snub the almost $40 teppanyaki lunch, $1.50-a-piece empanada, and $6 Korean barbecue steak pizza (the pizza stand had free and upcharged pies).

    That meant none of my lunches were standouts. The burgers were too heavy (mine came with a slab of fried mozzarella), the salsa verde at the sandwich stand was inedible, and the buffet was forgettable.

    Even worse, the chicken wings at the buffet cost extra. Oh, Carnival.

    The only craveable lunch was at La Strada Grill, a tucked-away buffet with sandwiches and fresh vegetables.
    A sandwich, salad, and grilled vegetables on a plate.
    The buffet-style La Strada Grill offered options like mac and cheese, a quinoa and chickpea salad, and grilled vegetables.

    It was the only light and fresh meal I had on the ship. I couldn't understand why it and another salad stand were closed until the last day of the cruise.

    At that point, I had already grown tired of all the heavy foods.
    person at cafe on Carnival Firenze
    Spiked coffees and milkshakes cost more than $9 and $7, respectively.

    But a quick pick-me-up at the coffee shop would have required me to break my no-spend rule, too.

    The buffet had free coffee, Lipton, and Bigelow's green tea bags. But if you want something closer to your neighborhood coffee shop, the onboard café charges $4.50 for a latte and $4 for a doughnut.

    I don't remember the last time I drank that much Lipton tea.

    Activities like the afternoon 'Tea Time' also had a cost barrier.
    composite of two tea bags
    Art of Tea bags (right) were $1.50 each during Tea Time. Bigelow's green tea (left) was free.

    Tea bags at the program were $1.50, unbeknownst to me until I was seated. After expressing disinterest in paying, I was later offered the buffet's teas.

    Caffeine might be mandatory if you stay in the cheapest windowless cabin.
    furniture in my Carnival Firenze cruise cabin
    The windowless cabin didn't have much decor.

    Like any mass-market cruise ship, the most affordable option was a windowless interior stateroom and letting Carnival assign me my cabin.

    Traveling alone for work meant I had to eat the solo supplement. My interior cabin, booked fairly last minute, cost $735, including $64 in optional gratuities.

    But in 2024, the cheapest itinerary starts shy of $360 per person, including taxes and fees, for the same four-night sailing — from Long Beach, California, to Catalina Island and Ensenada, Mexico — as the one I went on.

    Carnival put me in one of Firenze’s accessible, wheelchair-friendly rooms.
    my bathroom in my Carnival Firenze cruise cabin
    The bathroom was ugly but spacious, a reoccurring theme of my cabin.

    This meant the shower — a curtain surrounding floor drains — was one of the largest I've had at sea. And all the furniture came pushed against the wall, making the cabin feel spacious for someone without physical disabilities.

    But where the stateroom excels in size, it fails in design.

    It was one of the ugliest rooms I've ever stayed in. The furniture looked dated, the bathroom had almost no storage, and there were no bedside outlets.

    That said, the starting price of $90 a day is hard to beat. At least it encouraged me to spend more time around the ship than inside my windowless dungeon.

    Overall, my no-spend Carnival Firenze cruise was fine. Not amazing. Not life-changing. Just fine.
    person on ropes course on Carnival Firenze
    Complimentary activities on Carnival Firenze included an elevated ropes course.

    The surplus of complimentary onboard activities rivaled that of more expensive ships. But if my meals weren't lackluster, they were bad.

    I'm sure I would have a different review if I had spent an additional $50 on the steakhouse or $100 on the chef's table. But the less-than-desirable complimentary food ultimately plagued my four nights at sea.

    If you're considering cruising on Carnival Firenze, I'd recommend paying for at least one of the specialty restaurants. The money will be worth skipping the buffet and uninspiring dining room.

    Read the original article on Business Insider
  • Luxury-travel advisors are in demand as Gen Z and millennials splurge on stress-free, meaningful vacations

    Woman traveler being carried by four bellhops on a luggage carrier that doubles as a palanquin, surrounded by clothes and luggage
    • Careers in luxury-travel advising are growing as travelers seek stress-free, high-end experiences.
    • Gen Z and millennials are driving the growth, seeing vacation spending as a worthy expense.
    • This article is part of "Trends to Bet Your Career On," a series about trending professional opportunities.

    The internet has revolutionized the way people research and book travel. Travelers now have access to hotel- and flight-booking platforms, travel content on social media, travel blogs, and travel publications.

    Today's travelers, especially those seeking luxury experiences, don't always want to wade through all that information. Consequently, the travel-advisor industry has experienced significant growth in recent years, especially among Gen Z and millennial travelers. According to Grand View Research, the global luxury-travel market is worth an estimated $1.3 trillion and expected to grow 7.9% from 2024 to 2030.

    Luxury travelers are not necessarily looking for the best deals but the best way to plan a trip without the hassle. This is where a luxury-travel advisor comes in. Agents can provide personalized itineraries, access to upgrades and selective experiences, and support throughout the trip.

    Business Insider talked to three luxury-travel advisors about the industry's growth and how to transition into travel advising.

    Why the luxury-travel industry is booming

    Diana Hechler, the owner of D. Tours Travel, said the luxury-travel industry has grown because travelers have access to more luxury-level properties, and more people are willing to pay luxury prices. Also, a vacation is seen as a necessity for Gen Z travelers.

    "People are booking vacations more than ever and want them to be stress-free and restorative. And nothing does that better than luxury travel," Hechler told BI. "Despite the higher prices, the segment of travelers that want luxury and are willing to pay for it has grown as well."

    Diana Hechler smiling against the backdrop on a scenic landscape
    Diana Hechler, the owner of D. Tours Travel.

    Angela Adto Tepper, the owner of AZA Luxury Travel, said that the shift toward luxury travel had increased since the pandemic, with more Americans prioritizing travel.

    "The luxury-travel sector has evolved to prioritize wellness, health, sustainability, and transformative experiences, and people are now prioritizing meaningful travel experiences and pursuing bucket-list trips," Tepper said. "Advisors have adapted by curating journeys tailored to each client."

    Why travelers work with advisors

    One of the biggest advantages of working with a travel advisor is that it helps travelers cut through the noise and information overload. Traveler agents work on commission, getting a percentage of hotel, cruise, or tour costs, which is paid after a trip is over. Many agents also charge an up-front fee for research and planning.

    "The internet was supposed to be the death of advisors, and instead, it's made us more valuable than ever," Hechler said. "While some people love to spend time researching their vacations and doing it themselves, many don't have time to 'waste' on the internet starting from scratch. Saving time is problem-solving for almost everyone; anytime you can solve people's problems, you can have a successful business."

    Travel advisors can also offer complimentary upgrades and have access to experiences that might not be available to the public.

    "Working with a travel advisor can be summarized by three E's," Tepper said. "We can provide expertise and insider knowledge, extras with personalized service, and emergency assistance."

    Angela Adto Tepper headshot
    Angela Adto Tepper, the owner of AZA Luxury Travel.

    With the prevalence of Instagram and TikTok, it might seem like everyone is going to the same places. So booking luxury hotels or making reservations at Michelin-starred restaurants is no longer enough; travelers want advisors to curate one-of-a-kind experiences.

    "The luxury-travel sector is not just about opulence and indulgence but also about creating meaningful, enriching experiences that leave a lasting impact," Maurice Smith, the founder and CEO of the luxury-travel agency Eugene Toriko, said. "Sustainable and regenerative travel practices are becoming increasingly important, focusing on preserving and enhancing the destinations we visit."

    Tips for transitioning into travel advising

    If you're ready to move into the industry, it's worth taking stock of your skills first. For example, Tepper said people with event-planning experience might transition well into travel advising since itinerary planning and familiarity with booking platforms are part of the job. She added that soft skills, like interpersonal communication, problem-solving, and adaptability, would also come in handy.

    Tepper recommended contacting an advisor before switching over. "If you're considering the career change, one of the best things you can do is secure a reputable mentor," she said. "A mentor can offer invaluable guidance, accelerating professional growth and enhancing skill development, leading to greater success and higher earnings."

    It also helps to study travel trends, have a deep knowledge of a destination, and build expertise around types of travel, such as multigenerational trips, cruises, or honeymoons. Tepper said that prospective advisors must also remember that they're not necessarily looking for the "best discounts" for clients but creating tailored trips with impeccable customer service.

    "To maintain the quality of our personalized work, we occasionally have to turn away a client," Tepper said. "Not every client is the right fit for our service. This selectivity ensures that we can devote the necessary time and attention to crafting great experiences for everyone while upholding the high standards we have put in place."

    The benefits of travel advising

    Travel advising provides valuable services to travelers, but agents can also receive perks like complimentary trips sponsored by hotels and tourism boards and travel discounts.

    "One of the biggest perks of this job is the opportunity to explore the world and indulge in my passion for travel," Tepper said. "Imagine waking up in a new city, tasting exotic cuisines, and immersing yourself in diverse cultures while doing what you love. For me, it's a career that blends passion and purpose."

    The job also comes with a few challenges. Smith said that agents must stay on top of ever-changing travel regulations to ensure the safety of their clients. But ultimately, he said, it's a rewarding career that prioritizes relationships.

    "Travel advising offers flexibility and the potential to work remotely, allowing for a good work-life balance," Smith said. "Additionally, the satisfaction of helping clients create unforgettable memories and the joy of turning their travel dreams into reality is incredibly rewarding."

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  • Here’s what the economy could look like with a Biden or Trump presidency

    President Biden and Donald Trump on a blue background
    President Joe Biden and former President Donald Trump have different plans for how they'd tackle the US economy if they win the November election.

    • Voters are concerned about issues like inflation and home prices ahead of the presidential election.
    • BI analyzed Biden and Trump's plans for eight major economic categories.
    • The analysis evaluated the candidates' past records as president and their campaign promises.

    The economy will likely be top of Americans' minds as they gear up to watch the first presidential debate.

    On June 27, President Joe Biden and former President Donald Trump will go head-to-head once again as they take the debate stage for the first time this year ahead of November's presidential election. While there's a lot that will likely be addressed, the two candidates' comments on the economy — from inflation to higher education and housing — will be ones to watch.

    For starters, inflation is keeping the cost of living high in many US cities, and astronomical home prices are preventing aspiring homeowners from buying. Issues like abortion access and tax policy are also a key consideration for many voters.

    With the election just over five months away, Business Insider looked at President Joe Biden and former President Donald Trump's plans for eight major economic categories that affect Americans' daily lives: domestic manufacturing, higher education, healthcare, housing, labor, taxes, tariffs, and trade.

    "President Biden is going to keep fighting for working families — lowering the costs of prescription drugs, housing, and childcare; investing in our future; supporting workers and small businesses; and making sure big corporations and the wealthy to pay their fair share," Lael Brainard, the director of the National Economic Council, told BI in a statement.

    Business Insider reached out to Trump's campaign team but didn't receive a response.

    The analysis is based on the candidates' past records as president and their promises on the 2024 campaign trail.

    Jump to a category: Domestic manufacturing | Higher education | Healthcare | Housing | Labor | Taxes | Tariffs | Trade

    Domestic manufacturing
    Employees work on the assembly line of new energy vehicles at a factory.
    During their tenures in office, Trump and Biden both focused on costs and the labor force for auto manufacturing and steel.

    The future of domestic manufacturing will be shaped by federal labor and business policy. Although the president doesn't have complete control over the economy, the Oval Office has a role in shaping factors like job growth, tax incentives, and industry regulations. A March report published by The Economist and YouGov found that 22% of voters identified inflation and the price of goods as their most important issue this November. The poll is based on the responses of 1,594 likely voters between March 24 and March 26.

    During their tenures in office, Trump and Biden both focused on costs and the labor force for two major American industries: auto manufacturing and steel.

    If reelected, Biden plans to continue efforts to keep auto manufacturing in the US and push back against the growing Chinese auto industry. Trump has also expressed plans to protect American car manufacturers. At a March rally, Trump said he plans to raise tariffs on foreign-made cars and suggested there will be a "bloodbath" in the domestic auto industry if he isn't reelected.

    As electric vehicles gain popularity, the Biden administration has said it wants to make EVs more affordable and invest in charging infrastructure across the country. Biden is also working to boost US EV manufacturing and increase tax credits for EV drivers. Trump, on the other hand, has said EVs could give Mexican and Chinese manufacturers an advantage and cut US auto jobs.

    In light of the pending US Steel Corp sale to Japan's Nippon Steel for $14.9 billion, Biden has said steel should stay domestically owned — but has not yet taken regulatory steps to affect the deal. While Trump was in office, he also made efforts to protect the US metals industry, placing tariffs on steel and aluminum imports.

    Sameeksha Desai, a professor at Indiana University and the director of the school's manufacturing policy initiative, told BI that the health of the country's domestic-manufacturing industry directly affects the labor market. Unemployment soared in many manufacturing industries during the pandemic but those jobs made a modest recovery during the remainder of Trump's time in office.

    As far as environmental regulations go, Biden has worked to tighten standards for vehicle pollution and expand the use of renewable energy, while Trump has called for the dismantling of clean-energy and carbon-capture tax credits and more investment in fossil fuels.

    Back to top

    Higher education
    Students on college campus
    Biden and Trump have major differences in how they view student-loan debt.

    Biden and Trump have major differences in how they view education policy, particularly student-loan debt.

    Since Biden took office, his Education Department enacted a series of reforms to student-loan-repayment programs. For example, after Trump's Education Department ran up a backlog in applications to the Public Service Loan Forgiveness program — which forgives student debt for government and nonprofit workers after 10 years of qualifying payments — Biden's department established a limited-time waiver. The initiative allowed students' past payments that had been deemed ineligible for the program since it was established in 2007 to count toward debt forgiveness.

    Additionally, the Education Department is carrying out one-time account adjustments for borrowers on PSLF and income-driven repayment plans to bring borrowers' payment progress up to date. It also implemented the new SAVE income-driven repayment plan in July, which includes a provision to shorten the timeline for borrowers to have their monthly pay reduced. Two conservative groups recently halted parts of the SAVE plan from being implemented.

    During his term so far, Biden's administration has canceled $153 billion in student debt for 4.3 million borrowers. And there's still more to come — Biden unveiled details in early April about a new student-loan-forgiveness plan after the Supreme Court struck down his first attempt.

    However, that new plan is not set to be implemented until the fall, and should Trump win the presidential election, it could jeopardize Biden's relief efforts. After the Supreme Court decision on debt relief, Trump posted on his campaign website that the ruling was "only made possible through President Trump's strong nomination of three distinguished and courageous jurists to the Supreme Court."

    While in office, Trump worked to weaken the borrower defense to repayment, an avenue for relief for thousands of borrowers who were defrauded by the schools they attended. For-profit schools like Corinthian Colleges and ITT Technical Institutes, for example, misrepresented their programs and forced students to take on debt they could not afford. While Biden's administration enacted a range of relief for defrauded borrowers, it's unlikely those efforts would continue under Trump if he were reelected.

    More broadly, student-loan borrowers would likely face very different outcomes under a Biden or Trump presidency. While plans for relief would likely continue should Biden win a second term, a Trump presidency could halt the efforts Biden's Education Department already enacted — meaning borrowers would continue to repay their loans without new avenues for relief.

    Additionally, the Education Department would likely face more budget cuts under Trump. While in office, Trump proposed cutting billions of dollars from the department, which included eliminating PSLF.

    However, he did support capping the amount parents can borrow through PLUS loans, which are loans parents can take out to cover up to the full cost of their kid's education. Those loans have the highest federal-student-loan interest rate, making them difficult to pay off. Trump's budget also called for an extension of the Pell Grant, a grant for those who demonstrate financial need, to incarcerated people.

    Back to top

    Healthcare
    abortion protest
    Biden has worked to expand the Affordable Care Act, while Trump has said he hopes to "repeal and replace" the law.

    Eighty percent of voters believe it's important for Biden and Trump to talk about healthcare costs on the campaign trail, a poll by KFF found.

    Biden has worked to expand the Affordable Care Act, while Trump has said he hopes to "repeal and replace" the law and make cuts to Medicare. However, Trump has not publicly outlined an alternate affordable healthcare plan.

    In March, the Biden administration expanded the 2022 PACT Act to provide healthcare for millions more veterans, including those who were exposed to toxins while in training or in active service during the Vietnam War, the Gulf War, Iraq, Afghanistan, and post-9/11 combat zones. This follows a 2018 law signed by Trump that allows some veterans to seek VA-funded care at their community medical facilities. Trump has not mentioned new veteran healthcare initiatives as part of his reelection campaign.

    The price of pharmaceutical drugs is also a priority for voters, as some Americans say they are unable to access prescriptions due to high costs and drug shortages. While in office, Biden signed the 2022 Inflation Reduction Act, which included provisions to lower the price of insulin to $35 a month. His administration is also negotiating lower prices for 10 major pharmaceuticals, including medications to manage diabetes, arthritis, and heart conditions. The Inflation Reduction Act would require Trump to continue these drug price negotiations should he win a second term. Trump has not focused on drug affordability in his 2024 campaign.

    Ninety percent of Democratic voters believe Biden has done more to address healthcare costs, compared to 91% of Republicans who believe Trump did more to address costs while he was in office, a KFF poll of 1,309 US adults found.

    Nearly two years after the Supreme Court overturned Roe v. Wade, Biden — along with Vice President Kamala Harris — is emphasizing abortion access as part of his reelection platform. The president said he hopes to restore the Constitutional right to abortion if reelected, despite an evolving stance on the issue during his 50-year political career. Both Biden and Trump support access to IVF following an Alabama Supreme Court decision in February that ruled frozen embryos can be considered people under state law.

    If reelected, Trump has said he would not sign a nationwide abortion ban if it were passed by Congress, but his personal stance on the issue has varied during his time in the public eye — and many Americans worry about GOP efforts to limit reproductive healthcare access. Trump said at an April campaign rally that abortion should be a state issue, which could allow state legislatures to continue passing bans that restrict abortion access and place doctors who perform the procedure at risk of prosecution. In an April interview with Time Magazine, Trump also said he would "let red states monitor women's pregnancies and prosecute those who violate abortion bans."

    Trump has also said he will ban all gender-affirming healthcare and hormone therapies for minors if he returns to office. Biden signed an executive order in 2022 to enhance protections for transgender children and has taken steps toward banning so-called conversion therapy.

    Back to top

    Housing
    home for sale sign
    Housing costs present a major challenge for both Biden and Trump.

    Housing costs present a major challenge for both Biden and Trump as millennials and Gen Zers find themselves priced out of many markets.

    The state of the housing market can be summed up by two compelling statistics.

    A Gallup survey of 1,013 adults released in April 2023 showed that only 21% of Americans said it was a good time to purchase a home, while 78% said it was a bad time to buy one.

    Millennials will play a crucial role in this November as voters in their 30s and early- to mid-40s with growing families cannot live in the communities where they grew up because of the scarcity of available homes and elevated costs.

    Affordable housing has been a top concern for Biden, who's aware of the saliency of an issue that could make or break his reelection bid.

    With the current 30-year fixed-rate mortgage currently above 7%, many potential buyers simply aren't purchasing homes and are continuing to rent.

    For decades, housing has failed to keep up with demand. After the Great Recession and throughout the COVID-19 pandemic, the problem only grew worse. Now, many would-be sellers have decided to stay put, exacerbating a housing shortage that has become one of the most pressing public-policy issues on the local, state, and federal levels.

    In the swing state of Nevada, which Biden wants to keep in his column this fall, he recently talked about his efforts to tackle the housing crisis, including the 1.7 million housing units currently under construction. He also noted that his administration planned to create an additional 2 million affordable homes, with thousands of the units poised to be built in the Silver State. However, there's no official timeline for when these homes will be completed.

    Housing affordability will also be a key issue in other battleground states including Arizona, Georgia, North Carolina, and Pennsylvania.

    Biden also called for more office-to-residential conversions, adding that the administration would create a program to "help communities build and renovate housing or convert housing from empty office spaces into housing."

    Such conversions have become increasingly popular in recent years. With legions of employees able to work remotely during the pandemic, many companies have opted to not renew their office leases.

    Trump has also zeroed in on the issue. While campaigning in Iowa last year, he said that the key to driving down housing costs was to lower energy costs.

    "We'll get the prices way down," he said, referring to energy costs, "and then the interest rates down and then the home builders will start building again."

    Trump's record on affordable housing has been mixed. In 2019, he created a White House council to remove impediments to the construction of affordable housing. But during his presidency, Trump also called for major cuts to the Department of Housing and Urban Development's budget. In 2020, he sought to end the Community Development Block Grant program — which offers annual grants to states and local municipalities to fund redevelopment and community services — in the next year's budget, arguing that housing policies were best handled at the state and local levels.

    A second Trump term would likely mean the federal government would be more hands-off in shaping housing policy than the Biden administration has been.

    Back to top

    Labor
    UAW strike
    Trump is looking to chip away at Biden's union support this fall.

    Biden has long been an ally of organized labor — even becoming the first sitting US president to walk a picket line last year — but Trump is looking to chip away at the president's union support this fall.

    In April 2019, Biden launched his 2020 presidential campaign at a Teamsters union hall in Pittsburgh, putting his primary rivals on notice of his longtime relationship with organized labor. At that time, labor advocates were pushing hard to allow fast-food employees at restaurants like Chipotle and McDonald's to unionize.

    Once in office, Biden prioritized passage of the bipartisan infrastructure law, with one of its selling points being the creation of thousands of well-paying union jobs. And last year, Biden's Department of Labor tweaked a rule in how it calculates prevailing wages for construction workers, with the changes affording them higher pay and more workplace protections.

    In recent decades, public-sector unions have become increasingly diverse, with more female, Black, and Latino members who have often thrown their support behind Democratic candidates.

    But Trump has been successful in earning endorsements from influential police unions like the Police Officers Association of Michigan and the Florida Police Benevolent Association.

    Trump's mission is clear: He wants to win over more union households in battleground states like Michigan and Wisconsin. In 2016, Trump made strong gains with these voters, but Biden flipped many of them back into the Democratic column in 2020, promising robust support for the automobile industry. In January, Biden earned the backing of the United Auto Workers after joining them on the picket line, with UAW president Shawn Fain saying: "Joe Biden bet on the American worker while Donald Trump blamed the American worker." Trump responded that Fain "didn't have a clue."

    In March, Biden gave the auto industry slightly more time to adopt strict new rules for tailpipe emissions, in a huge win for organized labor, as automakers and unions were concerned about meeting the administration's initial electric vehicle transition proposals. In a second term, Biden is poised to continue his administration's push to advance EV production. Meanwhile, Trump has said that the transition to electric vehicles would decimate the auto industry and benefit China and Mexico.

    A Gallup poll conducted in August found that 67% of Americans approved of labor unions, a marked increase from the 48% who backed unions in 2009.

    With many Americans working multiple jobs and inflation continuing to take a toll on people, labor unions have fought for higher wages for employees. Looking at the Gallup survey, 61% of Americans said that unions help the economy more than they hurt it, a figure that exceeded the previous high-water mark from 1999.

    Trump has made the economy the hallmark of his campaign, touting low pre-COVID-19 unemployment numbers, especially among Black Americans. In both September 2019 and February 2020, the overall unemployment rate hit 3.5%, which at the time represented a 50-year low.

    When Biden took office in January 2021, the unemployment rate, which rose sharply during the COVID-19 pandemic, sat at 6.4%. But unemployment hit a modern low of 3.4% in both January 2023 and April 2023, a figure that hadn't been seen since 1969. In April 2023, Black unemployment hit a record low of 4.7%.

    The unemployment rate has risen since last year, and it remains at 4.0% as of June.

    Biden has overseen a strong job market throughout much of his administration. In May, the US added 272,000 jobs, far exceeding the 182,000 jobs that were projected. The latest figure represents the 41st-straight month of job growth, which is tied to the president's argument that his policies have created an economy in which the number of jobs — and wages — have risen.

    Back to top

    Taxes
    An activist calls for higher taxes for the ultra-rich and corporations in Houston, Texas in 2021.
    There's likely to be some bipartisan agreement over taxes under either a Trump or Biden presidency.

    Earlier this year, the White House released Biden's tax priorities should he secure a second term. They're largely focused on ensuring big corporations and the wealthy pay what Biden deems their fair share.

    According to the White House's fact sheet, Biden's tax plan would seek to raise the corporate tax rate from 21% to 28%, and the minimum corporate tax rate from 15% to 21%. This differs from Trump's tax plan: His 2017 Tax Cuts and Jobs Act established a 21% corporate income tax rate — a decrease from 35% — and Trump would maintain that rate, Bloomberg reported.

    Additionally, Biden wants to require billionaires — the richest 0.01%, or people worth $100 million or more — to pay at least 25% of their income on taxes every year.

    The White House said that Biden's tax plan would cut taxes for middle- and low-income people by $765 billion over 10 years. This would be accomplished by restoring the fully refundable expanded child-tax credit, which was first enacted under the American Rescue Plan in 2021 and gave $3,000 per child to families with children over the age of 6, and $3,600 per child to families with children under the age of 6.

    Biden would also increase the Earned Income Tax Credit, which is a refundable tax credit for working individuals or couples.

    While Trump has not yet released a detailed tax plan, many of the provisions in his 2017 tax law are set to expire in 2025. Biden's tax plan would support extending Trump's tax cuts for households making under $400,000 a year, but some Republican lawmakers want all of Trump's provisions extended past 2025, and they introduced a bill last year to make the tax law permanent.

    Trump has also proposed a 10% tariff on goods coming into the US, along with a 60% tariff on all imports from China. The Tax Foundation, a nonpartisan think tank, has said the proposed 10% tariff would raise taxes for Americans by over $300 billion a year. Trump recently said during an interview with Time Magazine, however, that the 10% tariff could end up being higher.

    Given that Democrats and Biden are on board to extend some of Trump's tax cuts for low- and middle-income households, there's likely to be some bipartisan agreement over taxes under either a Trump or Biden presidency. But there's a significant divide over how much wealthy individuals and corporations should be taxed.

    Back to top

    Tariffs
    Car park
    Trump's tariffs may have contributed to a spike in the price of washers, dryers, new cars, furniture, and other goods.

    During his presidency, Trump imposed sweeping, unprecendented tariffs on imported goods. While Biden has left some of Trump's tariffs in places, he is far from the self-proclaimed "Tariff Man."

    Unlike traditional Republicans, Trump is proudly a protectionist. While he's changed his views on many other policy issues, the former president has for decades bashed the US trade deficit and sweeping deals like the North American Free Trade Agreement, saying the agreements had harmed workers.

    Trump's tariff barrage relied on Section 232, a provision of the Trade Expansion Act of 1962, which allowed his commerce secretary, Wilbur Ross, to declare some imports a national-security risk. The former president wasn't afraid to use this power against US allies, which outraged European and Canadian leaders. In response, other nations imposed retaliatory tariffs. But Trump's approach helped secure the US-Mexico-Canada Agreement, a NAFTA substitute.

    But those disputes paled in comparison to China's reaction. Beijing, by far the biggest target of Trump's tariffs and other trade actions, responded by suspending purchases of US agricultural exports and imposing other retaliatory tariffs. The Trump administration spent billions bailing out US farmers as it tried to manage the political and actual costs of the trade war. Trump and China eventually announced a deal to soothe tensions, but Beijing never purchased the additional US goods it said it would under the so-called "Phase 1" agreement.

    In response to criticism, Trump argued that foreign countries were footing the bill. Many economists pointed out that tariffs are paid by US importers. Consumers are also likely to face higher costs on goods that are subject to high tariffs. Both Biden and Trump's teams dispute that tariffs can lead to higher costs for consumers. Some economists have found evidence that Trump's actions caused a spike in the price of washers, dryers, new cars, furniture, and other goods. In an April interview with Time Magazine, Trump disputed that tariffs end up costing consumers more. In comments to reporters, Tai defended Biden's decision to keep in place some Trump-era tariffs, arguing that previous price increases "were about the chaos and unpredictability that it created."

    Many economists have long been skeptical about countries engaging in trade wars and the tit-for-tat cycle of tariffs that result. An analysis by CNBC suggested that Trump's tariffs were equivalent to one of the largest tax increases in decades based on the revenue they generated for the Treasury Department. Unsurprisingly, not everyone on Trump's team was on board: Gary Cohn, a former president of Goldman Sachs who served as a Trump economic advisor, resigned his White House post shortly after Trump announced high tariffs on steel and aluminum imports.

    As a candidate, Biden criticized Trump's trade war with China. As president, Biden brokered a deal with the European Union to largely end Trump's tariffs on its member nations. But Biden has left Trump's tariffs on China largely untouched. In fact, Biden wants to triple US tariffs on Chinese steel. Biden also recently imposed higher tariffs on Chinese electric vehicles, solar cells, and other goods.

    If he returns to office, Trump wants to impose more tariffs. He's proposed everything from a flat 10% tariff on every product that enters the US to a 100% tariff on all imported cars.

    Back to top

    Trade
    shipping containers
    Biden has left some of Trump's tariffs in place, illustrating the protectionist bent that continues to take hold in Washington.

    The US is not returning to a pre-2016 trade consensus, that much is clear.

    Trump dramatically shifted the Republican Party away from its largely held belief that free trade would help all nations. Biden, like many Democrats in the 1990s, also championed this mindset, which led to the sweeping North American Free Trade Agreement and paved the way for China to join the World Trade Organization.

    Biden and his top officials have signaled they also favor a paradigm shift. Katherine Tai, the US trade representative, has argued for a move away from a "colonial mindset" that all too often led to supply chains that preyed on developing countries. The Biden administration's focus is best seen in one of his biggest trade shifts: withdrawing US support for digital trade principles that some progressive lawmakers, including Sen. Elizabeth Warren, say were hijacked by Big Tech companies. Other Democrats have criticized the administration's approach.

    Biden has left some of Trump's tariffs in place, illustrating the protectionist bent that continues to take hold in Washington. In April, Biden pushed for even higher tariffs on Chinese steel and aluminum amid his reelection push. European leaders are also concerned about Biden's pursuit of climate-related tax credits that may lure green jobs away from their countries to the US.

    If Biden and Trump have anything in common it's their stance on China. Biden has used his trade powers to restrict US investment in Chinese technology, particularly semiconductors, quantum computing, and some artificial-intelligence sectors. As Bloomberg News reported, Biden has even surpassed Trump in adding more Chinese companies and individuals to an export blacklist.

    As president, Trump fixated on the US trade deficit even as some economists argued against reading too much into such figures. Still, the trade gap grew under his watch.

    Overall, Trump's combative trade policy led to mixed results. He didn't see the fruits of his biggest trade deal, which went into effect in July 2020: the USMCA, a revamped North American trade deal known Experts at Brookings Institution have praised the treaty for growing regional trade. Unlike NAFTA, the USMCA also contains new provisions on digital trade and labor protections. The Biden administration has used the deal to push Mexico over its labor practices.

    While Trump has bragged about brokering a historic trade deal with China, economists found that Beijing never lived up to its commitment to purchase an additional $200 billion worth of US exports. He successfully ended US support for the TransPacific Partnership, a massive trade deal that President Barack Obama supported with the hopes it would align much of the region more closely with the US. Trump has pledged to kill the Biden administration's new Asian trade talks, which the former president has dubbed "TPP two."

    Some Trump allies have signaled that he'll push the envelope even further if he wins in November. Politico reported that some of the former president's top economic advisors are discussing how to devalue the dollar to boost US exports. It's a risky proposition, as it could drive up the costs of some items that have already risen because of inflation.

    Back to top

    Read the original article on Business Insider
  • I quit teaching to become a luxury-travel advisor. Since making the transition, I’ve learned a lot and grown professionally.

    Kaylee Stith sits at a cafe and smiles into the camera
    Kaylee Stith is a former teacher who decided last spring to pursue luxury-travel advising.

    • Kaylee Stith left teaching to join The Travel Mechanic as a travel agent last year.
    • Stith leveraged her organizational skills from teaching for her new role in travel advising.
    • This article is part of "Trends to Bet Your Career On," a series about trending professional opportunities.

    Kaylee Stith is a travel agent at The Travel Mechanic, a luxury-travel agency in North Carolina. This as-told-to essay is based on a conversation with Stith, who left her full-time teaching job to become a luxury-travel agent last year. It has been edited for length and clarity.

    Before I started travel advising, I worked as a middle-school special-education teacher in North Carolina.

    I stumbled upon the travel-agent industry. I was following someone on Instagram who recently started her own Disney-specific travel agency. I love Disney, and when she announced that she was hiring an agent, I thought that would be a fun part-time job. I applied and made it through the first round. I didn't get hired, but I couldn't stop thinking about becoming a travel advisor.

    After that, I started exploring on my own. I listened to podcasts about the industry and learned more from the American Society of Travel Advisors.

    One day I was listening to "Trade Secrets," a travel-agent podcast, when they interviewed Lauren Doyle, the president and owner of The Travel Mechanic, an agency based where I live in Raleigh, North Carolina. I filled out the form for prospective agents and interviewed, and I was offered a position on the team. I signed a contract on April 1, 2023, and left my full-time teaching role in June 2023.

    Skills I transferred from my teaching career

    Some of my skills transferred from teaching, like being organized and helping people. Because I came from a special-education setting, I was often the liaison between students and their teachers. Being a travel advisor is similar because you're connecting with your clients and interfacing with them.

    But the transition was also a challenge, because I forgot what it feels like not to know what you're doing.

    My dad is a commercial airline pilot, and I've been traveling my whole life and planning my own trips for a long time. I assumed I'd naturally slide into this role and automatically know how to do everything. But there's a lot to learn.

    There were very practical things I had to learn, like how to use the customer-relationship-management system we put client information into, how to take payments, and how to make sure clients are signing off on the right terms and conditions — a lot of that was new to me.

    How I make money as an advisor

    I offer a complimentary consultation and discuss options with the client to ensure we're both a good fit. Then I charge a flat-rate planning fee. Some agents have a base amount, and depending on how complicated the trip is or how many people are going, they might charge more. Once the client pays the fee, I put their itinerary together.

    I also make a commission on things like hotels and tour packages. Some suppliers will pay a decent commission; if you work on the higher end, you make a bigger commission. Commissions are usually paid out after the client has finished the trip.

    Because I work with The Travel Mechanic, I get some leads, but I have to find most of them on my own. So a big part of this job is telling everyone I'm a travel agent. I'll mention it in conversations with people I meet because it's travel, it's fun, and people enjoy talking about that.

    My clients have so far been in my circles. I've worked with several people from my church, friend groups, and family. Sometimes it's good to start with the people near you.

    Have a niche when you're starting out

    It's good to have a niche to present yourself as an expert in when starting out. My niches are Hawaii and the UK because they're what I know and love. My family loves Hawaii, and I've visited regularly since I was 9. I've also been to England many times. I studied abroad in college and lived in Bath for four months as a student.

    The locations are similar in some ways because they're higher-ticket bucket-list destinations. They're also great destinations for first-time travelers who want to adventure out on a bigger trip but go somewhere that feels familiar.

    Hawaii is still far away, but the driving and currency are familiar. Though England is also pretty far away, the language and culture are not that different from the US. Those are my two favorite destinations, and I do some Disney trips on the side.

    Advice for prospective travel agents

    Many people think this job is fun and relatively easy to get into. You don't need specific training, but it can be hard to get going. It's a marathon, not a sprint.

    If you want to get into travel advising, I recommend starting part time or having another source of income before you get established and move to full time.

    Also, do a lot of research. This will help you see if you're a good fit for the industry and find an agency you feel aligned with that will support you. If you're unsure where to start, visit Host Agency Reviews to research agencies near you.

    While it's possible to go at it alone, starting with an agency is easier. Your commissions with an agency may be a bit lower, but an agency will offer advice and assist you when you're starting out with leads.

    Lessons I've learned so far

    I attended the annual Ensemble travel-agent conference in Las Vegas last year. I met with suppliers, tour operators, destination-management companies, and other agents. Everyone was welcoming and encouraging, which was a pleasant surprise. Because I'm an independent contractor, it'd be easy to think I'm competing with other people, but that isn't the case; there are enough clients to go around.

    Also, I learned that it's OK that I'm not the perfect fit for everyone. I can be a perfectionist, but it's impossible to always get everything right. I had a potential client who contacted me about a honeymoon, and I felt like it was a great conversation, but she never got back to me. I couldn't stop thinking what did I do wrong? But I can't be the best fit for everyone. It's been a tough lesson, but I've learned and grown so much this past year.

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  • Meet Josh Kushner, the billionaire venture capitalist who’s married to Karlie Kloss and just made a major investment in Hollywood

    karlie kloss josh kushner
    Josh Kushner is married to Karlie Kloss.

    • Josh Kushner, founder of venture capital firm Thrive Capital, has a net worth of $3.6 billion.
    • Known as Jared Kushner's brother and Karlie Kloss' husband, he's successful in his own right.
    • Thrive Capital has invested in companies like Instagram, Spotify, and, most recently, A24.

    Josh Kushner is widely known as the brother of Donald Trump's son-in-law, Jared Kushner, and the husband of supermodel Karlie Kloss, but he's also an accomplished businessman in his own right.

    Kushner's investments in tech startups through his venture capital firm, Thrive Capital, have made him a billionaire worth $3.6 billion, according to Forbes.

    Most recently, Thrive Capital backed A24, the independent studio responsible for hits like "Everything Everywhere All at Once," "Uncut Gems," and HBO's "Euphoria."

    Here are 10 things to know about Josh Kushner.

    Josh Kushner, 39, is the youngest son of real estate developer Charles Kushner.
    Josh Kushner, Charles Kushner, and Jared Kushner.
    Josh Kushner, Charles Kushner, and Jared Kushner.

    Charles is the founder of Kushner Companies, a real estate developer that owned 25,000 apartments throughout the Northeast at its peak in 2004, Forbes reported.

    Charles served two years in prison and paid a $40,000 fine after pleading guilty in 2005 to tax evasion, retaliating against a federal witness, and lying to the FEC. Trump pardoned him in 2020.

    He's a Harvard graduate.
    Josh Kushner.
    Josh Kushner.

    Kushner graduated from Harvard with a bachelor's degree in government in 2008. He spent a year working at Goldman Sachs before earning his MBA from Harvard Business School in 2011, Forbes reported.

    Kushner told the publication in 2012 that he was "not the best student" in business school due to his frequent travels as a cofounder of Vostu, a social network turned gaming platform based in Brazil that he cofounded as an undergrad.

    Kushner founded the venture capital firm Thrive Capital while at Harvard Business School. Its investments made him a billionaire.
    Joshua Kushner, founder and managing partner of Thrive Capital walking down the street in NYC.
    Joshua Kushner, founder and managing partner of Thrive Capital.

    Founded in 2009, Thrive Capital's early investments in tech startups such as Instagram, Spotify, Slack, and ClassPass paid off.

    Andrew Golden, president of Thrive client Princeton University Investment Co., told Forbes that Kushner "has tremendous entrepreneurial instincts, he understands the perspective of founders and he's wickedly smart."

    Thrive Capital was valued at $5.3 billion as of January 2023.

    In June, Thrive Capital added the independent movie studio A24 to its portfolio with a $75 million investment.
    The cast of "Everything Everywhere All At Once" holds their Oscars for best picture.
    The cast of "Everything Everywhere All at Once," an A24 film, after winning best picture at the 2023 Oscars.

    The investment deal increased the valuation of A24, known for Oscar-winning films such as "Everything Everywhere All At Once" and "Moonlight," to $3.5 billion.

    Kushner will also join A24's board of directors. He already holds board positions at companies including the wedding planning platform Zola and online fine-art marketplace Artsy, according to Crunchbase.

    Kushner also cofounded the health insurance startup Oscar Health in 2012.
    Mario Schlosser, Mark Bertolini, and Josh Kushner pose in front of a plain white background.
    Oscar Health chief technology officer Mario Schlosser, CEO Mark Bertolini, and cofounder Josh Kushner.

    Oscar Health, which sells health insurance plans on the Affordable Care Act marketplace, has about 1.5 million members as of April 2024, according to the company's official website. Its revenue totaled $5.9 billion in 2023, per the company.

    Kushner is vice chair of Oscar Health's board of directors, and his cofounder, Mario Schlosser, is its chief technology officer.

    Kushner's brother, Jared Kushner, served as a senior White House advisor in the Trump administration.
    josh kushner jared kushner ivanka trump
    Jared Kushner, Ivanka Trump, and Josh Kushner.

    Kushner's brother, Jared Kushner, married Donald Trump's daughter, Ivanka Trump, in 2009. Both Jared and Ivanka served as senior White House aides during Donald Trump's presidency.

    Kushner has been open about the fact that he and his brother disagree on politics, but has shied away from commenting on Jared directly. He declined to speak to Esquire for a 2016 profile of Jared, saying through a spokesperson that he "loved his brother and did not want to say anything that might embarrass him." The spokesperson added that Kushner is a lifelong Democrat who did not vote for Trump.

    Kushner donates to Democratic campaigns and has attended protests supporting women's rights and gun control.
    Josh Kushner at a March For Our Lives protest
    Joshua Kushner at a March For Our Lives protest.

    OpenSecrets data shows that Kushner has donated to Democratic PACs and committees across the US and to candidates including former president Barack Obama, Sen. Cory Booker, and Beto O'Rourke.

    He was spotted at the Women's March in Washington, DC, the day after Trump's inauguration in 2017. He also attended a March For Our Lives rally protesting gun violence in 2018 weeks after making a $50,000 donation to the group, Axios reported.

    Kushner told Forbes in 2017 that he supports political leaders who share his "liberal values."

    Kushner married supermodel and entrepreneur Karlie Kloss in 2018.
    Josh Kushner and Karlie Kloss
    Josh Kushner and Karlie Kloss in 2018.

    Kushner and Kloss met in 2012, according to a post Kloss made on X, and dated for six years before marrying.

    They held two wedding ceremonies: a small Jewish ceremony in upstate New York in 2018 and a star-studded, Western-inspired reception at a Wyoming ranch in 2019.

    In March, Kushner and Kloss bought the publication rights to Life magazine in order to relaunch the brand.
    Josh Kushner and Karlie Kloss in Paris
    Josh Kushner and Karlie Kloss.

    Kushner and Kloss acquired Life magazine through their media startup, Bedford Media.

    Kloss, who serves as the media group's CEO, said in a statement that she and Kushner see the magazine as "an uplifting and unifying voice in a chaotic media landscape."

    He and Kloss have two sons, Levi and Elijah.
    Josh Kushner and Karlie Kloss on their way to the Met Gala.
    Joshua Kushner and Karlie Kloss at the Met Gala in 2023.

    Their first child, Levi, was born in March 2021.

    Kloss revealed her second pregnancy at the Met Gala in May 2023 in a black velvet satin Loewe dress designed by Jonathan Anderson. She gave birth to their second child, Elijah, that July.

    Kushner and Kloss post occasional photos of each other and their family on social media but don't often comment publicly on their private lives.

    "I know in my life what really matters to me," Kloss told Harper's Bazaar in 2018. "I'm not trying to hide that from the world. I just really like having a more private life."

    Read the original article on Business Insider
  • Here are all the top contenders to be Trump’s vice-presidential nominee in 2024

    Photo illustration of Trump's potential vice presidential shortlist.
    • Trump is less than a month away from formally becoming the GOP's presidential nominee.
    • The former president is facing competing pressures to find his new running mate.
    • Trump has a lot of choices, from old rivals or MAGA allies.

    Former President Donald Trump could tap a running mate as soon as this week. At the very least, his extensive process will be wrapped up by next month.

    Ultimately, no one but Trump knows how this ends. He is famously mercurial. In 2016, it was reported that former House Speaker Newt Gingrich and then-New Jersey Gov. Chris Christie were the leading contenders. As you know, then-Indiana Gov. Mike Pence ended up winning the veepstakes.

    According to NBC News, Trump could make a surprise announcement ahead of his Thursday debate with President Joe Biden. Otherwise, the timeline will likely remain an announcement around the Republican National Convention, which kicks off in Milwaukee on July 15.

    North Dakota Gov. Doug Burgum, Sen. Marco Rubio of Florida, and Sen. JD Vance of Ohio remain high on the shortlist, per NBC News.

    Trump previously stoked speculation about his pick by publicly confirming half a dozen names on his list: Florida Gov. Ron DeSantis, Sen. Tim Scott of South Carolina, biotech entrepreneur Vivek Ramaswamy, South Dakota Gov. Kristi Noem, Florida Rep. Byron Donalds, and former Congresswoman Tulsi Gabbard.

    According to earlier reports, Trump's campaign sent out vetting requests to Burgum, Rubio, Vance, and Scott. Traditionally, prospective vice presidents have to turn over significant documentation about their lives to presidential campaigns in hopes of avoiding any surprise reports about whoever becomes the nominee.

    According to the Associated Press, Donalds, Rep. Elise Stefanik of New York, and former HUD Secretary Ben Carson also received some requests for information

    Here's a look at the names to watch as Trump continues his quest to retake the White House:

    Sen. Marco Rubio of Florida
    Donald Trump and Marco Rubio campaign in Florida ahead of the 2022 midterms
    Former President Donald Trump campaigned for Sen. Marco Rubio of Florida, a former 2016 GOP arrival, ahead of the 2022 midterms.

    Rubio once viewed as the GOP's future, is reportedly gaining attention as a possible pick.

    Rubio, like DeSantis, endured significant taunting and attacks when he opposed Trump during the 2016 primaries. But the pair have moved beyond the "Liddle Marco" jabs.

    The Florida senator was a key ally during Trump's presidency, though Rubio did not support overturning the 2020 election results. After the January 6, 2021 Capitol riot, Rubio delivered an impassioned speech on the Senate floor, arguing that it was "a terrible idea" to continue to raise objections to the results.

    Like many on this list, Rubio has given combative answers on whether he would accept the 2024 results.

    "'No matter what happens?' No, if it's an unfair election, I think it's going to be contested by each side," Rubio told "Meet the Press" host Kristen Welker in late May.

    Now a third-term senator, Rubio would also have more experience in federal office than Vice President Kamala Harris did when Biden tapped her to be his running mate.

    Gov. Doug Burgum of North Dakota
    Donald Trump looks on as Doug Burgum endorses him
    Former President Donald Trump has hinted that North Dakota Gov. Doug Burgum would be in his next administration.

    North Dakota Gov. Doug Burgum was virtually unknown nationally before his brief GOP primary run. It's not even clear if his campaign changed that status. Arguably, one of the biggest news days of his campaign was whether he would attend a primary debate after he injured his leg.

    But since ending his campaign, Burgum has maintained a ubiquitous presence as a top-level surrogate all over TV. He's now a serious contender to be Trump's running mate.

    If he doesn't get picked, Trump has already suggested including Burgum in his potential cabinet.

    Burgum also shares the former president's background of parlaying business success into a political career. He sold his software company to Microsoft for $1.1 billion.

    In late June, The Wall Street Journal editorial board, often considered the voice for establishment Republicans, endorsed Burgum out of the potential final three of Burgum, Rubio, and Vance.

    "Mr. Burgum would be loyal to Mr. Trump, while also unafraid to offer hard advice or speak an unhappy truth when the moment demands it," the editorial board wrote.

    Sen. JD Vance of Ohio
    Vance at the Capitol on November 14, 2023.
    Vance at the Capitol on November 14, 2023.

    Despite having just been elected to the US Senate last year, Vance has repeatedly been floated as a vice-presidential candidate for Trump.

    And he's not saying no. In fact now, he's admitting that he would be disappointed if it doesn't work out.

    "I'm human, right?" Vance recently told Fox News. "So when you know this thing is a possibility, if it doesn't happen, there is certainly going to be a little bit of disappointment."

    A former venture capitalist and the author of the bestselling book "Hillbilly Elegy," Vance was once a "NeverTrumper" and a fierce critic of the former president. But he has since morphed into one of his staunchest acolytes in the Senate, and he's at the vanguard of a movement that seeks to reorient the party more towards the working class.

    Vance and some other top VP contenders made it a point to attend Trump's Manhattan criminal trial. Trump later became the first former president to be convicted of a felony.

    Rep. Byron Donalds of Florida
    Byron Donalds shakes Donald Trump's hand
    Rep. Byron Donalds, a Florida Republican, shakes former Donald President Donald Trump's hand

    Donalds, currently in just his second term, has risen rapidly in Congress. Conservatives opposed to Kevin McCarthy's leadership put the Florida Republican forth as an alternative to the then-longtime House GOP leader. Donalds was later added to the powerful House Steering Committee after he switched his support to McCarthy and McCarthy went on to become speaker.

    That wasn't his only major flip. Donalds, who had previously been DeSantis' close ally, endorsed Trump last April, part of a string of Florida Republicans that snubbed their governor to back the former president. Donalds has also been floated as a potential successor to DeSantis, who cannot run for reelection in 2026 due to consecutive term limits.

    Donalds was also among the six potential names Ingraham suggested to the former president. Trump responded by saying, "They're all good, they're all solid."

    Like Florida Gov. Ron DeSantis, Donalds would also have to deal with potential concerns of sharing the same home state as Trump.

    Rep. Elise Stefanik of New York
    Stefanik at the Capitol on September 13, 2023.
    Stefanik at the Capitol on September 13, 2023.

    The chairwoman of the House GOP Conference, Stefanik is the highest-ranking official who is seen as a potential Trump pick.

    The New York congresswoman, who ascended to her leadership position on the heels of Liz Cheney's ouster, has notably undergone a sharp shift when it comes to Trump, beginning with the 2019 impeachment hearings.

    Trump has reportedly described Stefanik as a "killer" and a potential pick in private, and the congresswoman recently said she "would be honored to serve in any capacity in a Trump administration."

    Stefanik has raised her national profile by grilling college presidents over their handling of students who have protested the Israel-Hamas war. The New Yorker has drilled into administrators whom she has accused of being too weak in their response to antisemitism.

    Sen. Tim Scott of South Carolina
    Scott on stage with Trump in Laconia, New Hampshire on January 22, 2024.
    Scott on stage with Trump in Laconia, New Hampshire on January 22, 2024.

    The 58-year-old three-term senator endorsed Trump shortly before the New Hampshire primary. The South Carolinian also largely avoided criticizing Trump in a way that may have foreclosed him being on the ticket.

    According to Politico, Scott talks with Trump or texts with the former president nearly every week.

    Scott previously stoked speculation that he could be picked by telling the Wall Street Journal that he found his and Trump's contrasting styles "to be very complementary."

    It's worth noting that while the former president has a growing list of congressional allies, the Senate has repeatedly been an issue for him.

    Former HUD Secretary Ben Carson
    Ben Carson
    Former Housing and Urban Development Secretary Ben Carson has stayed in Trump's orbit

    Former Housing and Urban Development Secretary Ben Carson has remained in Trump's good graces. It likely helps that he's one of the few Trump Cabinet veterans to endorse the former president wholeheartedly.

    Former White House chief of staff Mick Mulvaney told Sky News Australia in early June that Carson will likely get tapped.

    "The one element I think Ben Carson has that none of the other six people on the list have is I don't think Ben Carson wants to be president; I don't think he wants to run for president," Mulvaney said.

    Carson is much more conservative than Trump on a key issue: abortion. Carson has previously said he supports a nationwide abortion ban, a position that Trump has strenuously tried to avoid.

    Gov. Ron DeSantis of Florida
    DeSantis in Derry, New Hampshire on January 17, 2024.
    DeSantis in Derry, New Hampshire on January 17, 2024.

    Trump and his allies spent over a year ruthlessly attacking DeSantis. It was only toward the end of his disappointing primary that the 45-year-old began to return fire.

    DeSantis did endorse Trump immediately after dropping out before New Hampshire, but the question remains if either side would want to repair their political alliance.

    There appeared to be a brief peace, but that was thrown into after a top Trump campaign official tore into DeSantis. The public attack was in response to a report that DeSantis privately expressed concern that Trump might resort to "identity politics" when selecting his vice president.

    Businessman Vivek Ramaswamy
    Ramaswamy at an event in Des Moines, Iowa on January 15, 2024.
    Ramaswamy at an event in Des Moines, Iowa on January 15, 2024.

    Like some other candidates on this list, Ramaswamy is unlikely to be chosen as Trump's next VP. But that doesn't mean there aren't people out there who would like to see it.

    Ramaswamy was perhaps the only candidate in the race who never dared to issue substantive criticisms of Trump, choosing instead to run as a staunch supporter of the former president who would carry that mantle forward.

    He dropped out immediately after coming in 4th in Iowa, endorsing Trump and likely securing himself some sort of future position in MAGA world, if not Trump's actual cabinet.

    But while Ramaswamy would be popular with some of Trump's most devoted followers, his penchant for conspiracy theorizing would likely be a liability in a general election.

    Rep. Marjorie Taylor Greene of Georgia
    Greene at the Capitol on January 11, 2024.
    Greene at the Capitol on January 11, 2024.

    Greene, the fire-breathing conspiracy-minded congresswoman from Georgia, wouldn't exactly be a tent-expanding choice for the former president.

    But that hasn't stopped her from talking up her own prospects.

    "It's talked about frequently and I know my name is on a list," Greene told The Guardian in August. "But really my biggest focus right now is serving the district that elected me."

    A second-term legislator with no major policy accomplishments, Greene wouldn't bring much to the equation when it comes to policy chops or broadening Trump's appeal. In fact, it could damage the ticket, given her extremely poor polling.

    Greene has also alienated top party leaders over her push to oust Speaker Mike Johnson. Trump has repeatedly praised Johnson as he tried to navigate Greene's challenge.

    Sen. Katie Britt of Alabama
    Katie Britt
    Sen. Katie Britt, an Alabama Republican

    Britt quickly built her profile before delivering the Republican Party's official response to Biden's State of the Union address.

    Britt's response was widely panned, including by some Republicans. NBC's "Saturday Night Live" enlisted Scarlett Johansson to impersonate the freshman senator.

    At just 42, Britt could become one of the youngest vice presidents in recent memory. Only Dan Quayle, then a US senator from Indiana, would have been slightly younger. Quayle was 41 when he began his vice presidency under President George H.W. Bush.

    Britt has made her age and the fact she is a mother of school-age children a key selling point in her political career.

    Former UN Ambassador Nikki Haley
    Haley in Hampton, New Hampshire on January 23, 2024.
    Haley in Hampton, New Hampshire on January 23, 2024.

    Haley offered a limited endorsement of Trump in late May, ending speculation about who she would vote for in November.

    "I will be voting for Trump," Haley said at an event after listing off her disagreements with Biden. She added, "Trump would be smart to reach out to the millions of people who voted for me and continue to support me and not assume that they're just going to be with him. And I genuinely hope he does that."

    Trump, who previously shot down an earlier report that he was considering Haley to be vice president, said Haley is "going to be on our team in some form."

    Toward the end of her primary challenge, Haley repeatedly said she's not interested in being anyone's vice president. She praised Trump when she served as his UN ambassador, but was highly critical of him during the GOP primary.

    Biden has also shown greater interest in bringing Haley's voters than Trump.

    Gov. Sarah Huckabee Sanders of Arkansas
    Sanders delivers the GOP response to the State of the Union address on February 7, 2023.
    Sanders delivers the GOP response to the State of the Union address on February 7, 2023.

    No one on this list knows Trump like Sanders. As his second White House press secretary, Sanders turned her turn at the podium into a governorship. As Arkansas governor, she's pursued an array of conservative policies.

    She has endorsed Trump's campaign, but she has hinted that she wouldn't be interested in returning to the White House as vice president.

    "Look, I absolutely love the job I have. I think it's one of the best jobs I could ever ask for, and I am honored to serve as governor, and I hope I get to do it for the next seven years," Sanders previously told CBS News.

    Former Congresswoman Tulsi Gabbard of Hawaii
    Tulsi Gabbard
    Former Congresswoman Tulsi Gabbard

    Former Rep. Tulsi Gabbard was once the most surprising name under Trump's consideration. The former 2020 Democratic presidential candidate may now have her eyes set on a different Cabinet post.

    In early June, Gabbard said during an interview that serving as either Secretary of State or Secretary of Defense would be one of the ways she could best serve the country under a possible second Trump administration.

    Her politics have changed drastically since then. In 2022, she announced that she was formerly leaving the Democratic Party. Over time, the four-term former congresswoman became a fixture on Fox News and at political events. According to The Washington Post, Gabbard has also advised the former president and his team about defense policy.

    She was also among the six names Ingraham asked Trump about in terms of potential running mates.

    Gov. Kristi Noem of South Dakota
    Noem at a rally in Rapid City, South Dakota on September 8, 2023.
    Noem at a rally in Rapid City, South Dakota on September 8, 2023.

    The second-term South Dakota governor was once, perhaps best known nationally for flouting COVID restrictions during the pandemic. That was until Noem decided to include a story in a forthcoming book about her decision to kill the family's 14-month-old dog after she claimed it proved to be untrainable and overly aggressive.

    Since then, the consensus is that Noem has greatly damaged her prospects of becoming Trump's running mate.

    Before the dog episode, Noem faced concerns after she posted a bizarre infomercial-esque video touting a dental procedure she received in Texas.

    Noem may have even confirmed that her chance is over after she admitted that she had not received any vetting paperwork that others on this list did.

    "I've had conversations with the president, and I know that he is the only one who will be making the decisions on who will be his vice president," she said.

    Read the original article on Business Insider
  • One day, Nvidia stock will go down. Here’s how to keep it from hurting your portfolio

    A businesswoman gets angry, shaking her fist at her computer.

    This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

    Nvidia (NASDAQ: NVDA) has delivered staggering, market-beating gains, but would you believe it hasn’t always been that way? You don’t have to go back far to see when it has struggled — Nvidia stock lost a full 50% of its value in 2022.

    Investors who didn’t buy Nvidia stock during that down period might be kicking themselves since those steep losses were immediately followed by the artificial intelligence (AI) craze that has been fueling the stock (and the broad market) for almost two years now. But if that’s you, don’t feel too bad. Very few people understood the changes generative AI would usher in for the world.

    If you do own Nvidia stock and have benefited from its incredible gains recently, you should keep in mind there’s real debate about how long its streak can go on. It’s up over 700% since the beginning of 2023, it trades at a high valuation, and the company is facing increasing competition. There’s likely to be significant pullback at some point — here’s how to keep it from upending your portfolio.

    Diversification, diversification, diversification

    The old adage about not putting all your eggs in one basket is well-known because it’s true. Even if you own shares in one of the best companies on the planet, which Nvidia undoubtedly is, there are no guarantees regarding its future performance. Holding just one stock, or letting it make up an outsized percentage of your portfolio, is a major risk. Even the best of companies can run into all sorts of unforeseen challenges.

    With that in mind, putting your investment eggs in different baskets, so to speak, can happen in a few ways. There are layers of diversification, and the more fully diversified your portfolio is across various types of categories, the more protection it will have.

     First, there are different kinds of investments. Beyond the stock market, which includes individual stocks, exchange-traded funds (ETFs), and options, there’s real estate, bonds, cryptocurrencies, and savings accounts, among others.

    Even within the stock market, there are different kinds of stocks: growth stocks, value stocks, dividend stocks, blue chips, and other classifications. You can also break stocks down by industry, geography, or market capitalization.

    Diversification across these categories can protect you from a downturn in any one asset class, industry, region, etc. A good rule of thumb is to have around 25 to 30 holdings in your stock portfolio, but if that sounds overly complicated, consider a few ETFs. The most popular ones track major indexes like the S&P 500, giving you instant exposure to the hundreds of stocks within the index.

    Does it make sense to sell Nvidia stock?

    Some long-term investors prefer a “set it and forget it” approach to their holdings. If you buy great stocks and hold through thick and thin, you should be able to generate strong long-term gains. But even these investors need to occasionally review their portfolios to see if any adjustments are necessary to support their investing goals.

    And this brings us to the dilemma for Nvidia shareholders. What happens when a stock appreciates in value and accounts for too large a portion of your overall portfolio?

    Let’s say you originally allocated 5% of your portfolio to Nvidia, but because the stock has climbed so quickly, it now makes up over 25% of your holdings. This is a case where you might want to sell some Nvidia stock and redistribute those funds to bring your portfolio back into a more risk-ready allocation. It may seem counterintuitive to reduce your exposure to a great company, but such a move can be necessary to bring your portfolio in line with your investing goals.

    I’ll give you two recent examples of billionaire investors making high-profile sales of excellent stocks. First, Warren Buffett recently trimmed his stake in Apple by selling an estimated $20 billion of shares in the first quarter. But investors shouldn’t mistake that for any loss of confidence in the company — it still accounts for nearly 43% of Berkshire Hathaway‘s entire portfolio. Meanwhile, Bill Ackman recently sold 10% of his position in Chipotle Mexican Grill. Even with that sale, it remains the largest position in the Pershing Square Capital portfolio at 20%.

    Finally, several billionaire investors have recently sold part of their stake in Nvidia, including Citadel Advisors’ Ken Griffin, Millennium Management’s Israel Englander, and Two Sigma’s John Overdeck and David Siegel.

    Nvidia’s current momentum won’t last forever. When the pullback eventually comes, it doesn’t have to roil your entire portfolio if you take the steps to diversify your holdings based on your risk tolerance and investing goals.

    This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

    The post One day, Nvidia stock will go down. Here’s how to keep it from hurting your portfolio appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Nvidia right now?

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    The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Apple, Berkshire Hathaway, Chipotle Mexican Grill, and Nvidia. The Motley Fool Australia has recommended Apple, Berkshire Hathaway, Chipotle Mexican Grill, and Nvidia. Jennifer Saibil has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Boeing says its space mission is ‘going well’ despite its Starliner leaving 2 astronauts stuck on the ISS

    NASA astronauts Butch Wilmore and Suni Williams
    NASA astronauts Butch Wilmore and Suni Williams are stuck on Boeing's Starliner.

    • Boeing has again delayed Starliner's return from the International Space Station.
    • The spacecraft has faced multiple delays and technical issues since its launch on June 5.
    • The company appeared to downplay the issues, telling the FT the mission is "going well."

    Boeing is doing damage control as its first crewed commercial spacecraft remains on the International Space Station (ISS) with no confirmed return date.

    NASA astronauts Butch Wilmore and Suni Williams traveled in Boeing's Starliner spacecraft on June 5 after a series of technical delays and were scheduled to stay docked in space for between eight and 10 days.

    However, 12 days after the crew's arrival, Boeing delayed the spacecraft's return until June 26.

    Another delay was announced on Friday. The aviation company said it needed time to schedule two spacewalks and to assess issues on board following five helium leaks.

    As Business Insider previously reported, helium supports Starlink's reaction control system thrusters, which allows them to fire.

    In a statement to the Financial Times, Boeing said the delays were not considered a failure.

    "It is a test flight," the statement said. "The mission is still going and it is going well."

    A spokesperson for the company told BI that it had "extended the mission in order to collect more data" on the helium leaks.

    They said the helium systems and thrusters are located in the spacecraft's service module, which is "discarded and burns up in the atmosphere on reentry," preventing a failure analysis from taking place on Earth.

    The spokesperson added that the helium leaks had been fixed and were "not a concern for the return mission," while four of the five thrusters were operating normally.

    "Starliner is performing well in orbit while docked to the space station," the spokesperson said, though they added that no return date has been confirmed.

    They said a new return date will be evaluated following the second spacewalk on July 2.

    "The crew is not pressed for time to leave the station since there are plenty of supplies in orbit, and the station's schedule is relatively open through mid-August," they added.

    As BI reported on Thursday, Starliner's delay is the latest in a string of controversies surrounding the company.

    Boeing has faced criticism from lawmakers, airlines, and whistleblowers, many of whom alleged that its approach to aviation safety wasn't sufficient.

    The company previously told BI that those allegations were not representative of the work it has done to "ensure the quality and long-term safety of the aircraft."

    NASA did not immediately respond to a request for comment.

    Read the original article on Business Insider
  • A pharmacy in Denver hired staff with hemophilia then fired them if they refused to pay for its pricey medications to treat it, a federal agency lawsuit says

    Male pharmacist choosing a medicine from the drawer, side view.
    A pharmacy in Denver deliberately hired workers with hemophilia and pushed them to buy its expensive medications, the Equal Employment Opportunity Commission.

    • A pharmacy in Denver discriminated against workers who didn't buy its expensive medication, the EEOC said.
    • The pharmacy deliberately hired workers with hemophilia and "pressured" them to get their medication from it, the EEOC claimed.
    • The EEOC accused Factor One Source Pharmacy of violating the Americans with Disabilities Act in a lawsuit.

    A pharmacy in Denver deliberately hired workers with hemophilia and pushed them to buy its expensive medications — or it fired them, the Equal Employment Opportunity Commission said in a lawsuit.

    Factor One Source Pharmacy "unlawfully" asked job applicants about their hemophilia, their children's hemophilia, and the medications they took "so it could recruit individuals who had hemophilia or had family members with hemophilia," the EEOC said in a press release.

    The pharmacy then "pressured" employees to use its services to get expensive hemophilia medication, the EEOC said in the lawsuit. They were also asked to change their medications to ones that were more profitable for the pharmacy, the EEOC's suit added.

    Their employment was "contingent upon them filling their costly hemophilia medications through Factor One," the EEOC said in the lawsuit.

    "Employees who refused were fired or laid off, while employees who used Factor One's pharmacy for hemophilia medications kept their jobs, even if they had worse performance reviews than employees who were let go," the EEOC said in the press release.

    In some cases, employees felt forced to resign because of how they were treated after they refused to change their hemophilia medication, the EEOC said in the lawsuit.

    The pharmacy also shared information about which workers had hemophilia and which medications they were taking with their coworkers, the EEOC said in the lawsuit.

    Hemophilia is a bleeding disorder which stops blood from clotting properly.

    The pharmacy's actions violated both the Americans with Disabilities Act and the Genetic Information Nondiscrimination Act, the EEOC said in the press release. The violations occurred under previous ownership, the EEOC said.

    Under a settlement signed in early June, the pharmacy will pay $515,000 to affected workers in back pay and compensatory damages and its new owners have agreed to not employ or contract with the company's prior CEO and owner.

    Factor One did not respond to a request for comment from Business Insider.

    Read the original article on Business Insider
  • Monaco is the world’s most expensive place to rent. A monthly budget of $30K will get you a 1,200-square-foot apartment.

    A view of tall buildings in Monaco
    Monaco offers tax benefits, low crime rates, and good weather.

    • Monaco is the world's most expensive residential rental market, according to Knight Frank.
    • Renting a 1,100-square-foot property in Monaco starts at about $19,350 a month.
    • While a $30,000 budget would only get you a modest two-bed apartment, per The Wall Street Journal.

    Monaco is the world's most expensive luxury rental market, according to analysis provided to The Wall Street Journal by global real estate agency Knight Frank.

    The May analysis looked at the top 1% of residential properties measuring about 1,100 square feet across different cities, and found that those in Monaco start at about $19,350 a month.

    According to the analysis, the starting price in Monaco to rent a 1,100-square-foot apartment is 36% higher than in Hong Kong, the second most expensive city, followed by Singapore and London.

    Per Forbes, the average national rent price in the US is about $1,400 a month.

    The Journal noted that larger luxury rentals in Monaco can easily surpass $100,000 a month, and reach as high as $280,000.

    These often come with hotel-style amenities, including concierge services, and even a landscaping team.

    According to The Journal, with a budget of about $30,000, you could only expect to rent a modest two-bedroom apartment in central Monaco, with a small kitchen and windowless bathroom.

    In contrast, for the same budget, the outlet said New Yorkers could get a property more than twice the size — about 3,100 square feet — overlooking Central Park.

    Even so, there's demand for such expensive properties.

    One major draw may be the opportunity to acquire residency and benefit from Monaco's rich-friendly tax policies, including a lack of personal income tax (unless you are French) and no capital gains taxes.

    Monaco also has no wealth or property tax.

    Perhaps as a result, it has the highest GDP per capita in the world, per the World Bank.

    Beyond financial advantages, Monaco also offers other advantages — pleasant weather, beautiful landscapes, low crime, and opportunities for luxury shopping and dining.

    These come at a steep price, however.

    The Journal noted that tenants in Monaco are usually expected to pay quarterly — with a quarter in advance and a three-month security deposit, along with tens of thousands of dollars in service charges.

    That could easily cost you $100,000 before you've even moved in.

    Read the original article on Business Insider