Insurable Interest Canadian Insurance Blog

The 2024 Forbes ranking of America’s 400 wealthiest people includes billionaires whose interests extend to the sports world. They own or have significant stakes in major franchises in the United States and abroad. In compiling the new list, Forbes researchers met in person or spoke virtually or by phone with each one when possible, and interviewed their employees, handlers, asset managers and financial advisors, rivals, peers and attorneys. They also examined Securities and Exchange Commission documents, court filings, probate records and news articles. They took into account all types of assets, and factored in debt and charitable giving. See the accompanying gallery for the 12 wealthiest Americans in sports, according to the Forbes 400 as of Sept. 1.

Age breakouts: Here’s what happened to activity for each age group between July 2023 and the latest month: Ages 0-30: -0.6% Ages 31-40: +1.9% Ages 51-60: -3.7% Ages 61-70: -6.0% Ages 71 and older: -2.2% Policygenius: A web broker, Policygenius, now prepares monthly term life price index charts. The lowest price shown is for a 25-year-old female nonsmoker who wants $250,000 in death benefits. The highest price is now for a 60-year-old male smoker who wants $1 million in coverage. The highest price present in both 2023 and this year is for a 55-year-old male smoker who wants $1 million in coverage. For the 25-year-old, the lowest rate fell to $14.29, from $14.59. For the 55-year-old smoker, the highest rate rose to $1,010.11, from $1,006.88. Credit: Adobe Stock

Michael Farley Title/company: President/Farley Financial Partners Branch: U.S. Army Rank held at beginning of service and at end: 2nd Lieutenant/Captain Service dates: 1988–1995 Work you did: Combat Engineer Platoon Leader at Fort Carson, Colorado. Responsible for the well-being of 30 combat engineers and enlisted soldiers. Brief story that stands out from your service time: The 30-soldier team I was in charge of was named the best of 12 combat engineer platoons at Fort Carson after an exhaustive three-day, 24-hour-a-day exercise. I learned so much about leadership, motivation and teamwork in those three days as I worked with my non-commissioned officers and soldiers. I find myself using some of those same lessons 30 years later as I would my team and our clients. Ryan R. Hyslop Title/company: Managing Partner/Sierra Pacific Wealth Management Branch: U.S. Navy and U.S. Naval Reserves Rank held at beginning of service and at end: Ensign/Lieutenant Commander Service dates: 1997–2018 Work you did: Naval Aviator with nearly 3,000 flight hours and 256 carrier landings in the T-34C, T-45A, F-14B, C-2A and C-40A Brief story that stands out from your service time: My commanding officer from my first fighter squadron, who was my mentor, always told me you have...

For both equities and fixed income, “this is a backdrop where you do want to stay up in quality,” said Sonders. On the fixed income side, “you’re not getting enough of a yield pickup by going out the risk spectrum into high yield, given how tight spreads are. So stay in investment grade or in Treasurys,” she said. Sonders would advise investors to stay disciplined, “the boring stuff” like diversification across and within asset classes, making sure they’re aware of concentration problems in their portfolio and periodically rebalancing. These are the tried and true recommendations from Schwab, particularly in an environment like this,” she said. While some investors rebalance on a calendar schedule, Schwab suggests considering volatility- or portfolio-based rebalancing, “meaning let moves in your portfolio beyond some parameters dictate when it might make sense to do some trimming or some adding as opposed to just waiting for a moment in time on the calendar,” Sonders said. Advisors, besides conveying these themes to clients, may need to “help the half of the people that are not happy about what happened, not letting the emotion associated with a very emotional election get in the way of investment decision making.” Peter Mallouk...