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Cheap Credit“Families with wealth of $100 million or more can borrow at less than 1%,” said Dan Gimbel, principal at NEPC Private Wealth....Yachts and private jets have been especially popular buys in the past year
Loans also allow the ultra-wealthy to avoid the hit of capital gains taxes....“Asset-backed loans are one of the principal tools that the ultra-wealthy are using to game their tax obligations down to zero,”
Some private banks offer mortgages on homes for as long as 20 years with fixed interest rates as low as 1% for the period.