One reason many people shy away from competition is that they dislike losing. With often only one winner, the sting of defeat can feel too humiliating. When people stop competing, they can become more fragile over time, to the point where even small setbacks can disrupt their well being. Ironically, the best path to victory often involves losing repeatedly. After enough losses, you build resilience, learning to handle failure and keep moving forward. Every loss is a chance to learn from your mistakes, sharpening your skills and improving your odds of winning the next time. If you’re someone who has…

The 401(k) contribution limit for employees in 2025 has increased to $23,500, up from $23,000 in 2024. The employer contribution limit also rises to $46,500, bringing the combined employee and employer 401(k) contribution limit to $70,000 for 2025. Don’t underestimate the power of employer 401(k) contributions, especially as you advance in your career. As you gain seniority, you might find that employer profit-sharing or matching contributions become more significant. In strong years, some companies increase their profit-sharing contributions to reward employees. The year I left Credit Suisse, for instance, I received a $22,000 match/profit-sharing contribution on top of my maximum…

The greatest generational wealth transfer in history is underway, with older generations (in particular baby boomers) passing on around $84 trillion to younger generations between now and 2045. This “Great Wealth Transfer” will impact millions of people around the world and could potentially open up exciting opportunities to reshape our financial systems and redistribute wealth to support both people and our planet. More immediately, however, this unprecedented transfer of wealth represents a major challenge for banks, particularly those who provide services to high-net-worth individuals. From now until 2025, $35.8 trillion (42%) of the overall total volume of wealth transfers is…

Home Awards Award Ceremonies and Events Global Finance’s Central Bank Report Cards, Interviews with A Grade Governors Global Finance Editor speaks with A Grade Governors on pressing issues impacting their economies, hearing their perspective on economic policy, financial stability, and the transformative role of banking in today’s rapidly evolving global landscape. The interviews were done during Global Finance’s 31st annual best bank awards ceremony held at the National Press Club in Washington D.C. on October 26th alongside the IMF World Bank annual meetings. Discover how the Reserve Bank of India, Bangko Sentral Pilipinas, Bank of Jamaica and the Central Bank…

Global Finance spoke with Yousef Khalawi, secretary general of the AlBaraka Forum for Islamic Economy, about the role of Islamic finance and economics as a holistic and sustainable framework for all economies. Global Finance: Against a backdrop of rising debt, geopolitical and economic instability, how is the role of Islamic finance evolving to address emerging global challenges? Yousef Khalawi: Despite its centuries-old heritage, Islamic finance is still a comparatively young industry. In its modern iteration, it is really just a half century old. Sukuk, for example, is less than 20 years old, making it relatively new compared with Western bonds.…