Range

We've reached a big milestone as one of the fastest growing wealth advisors in the country: Range has surpassed $1 billion in assets under management. This is a huge checkpoint, but just the beginning of our journey as we scale to serve millions of households across the country. A huge thanks to our members, our team of incredible Rangers, our custodial partner @Altruist, and our investors at @scalevp @gradientvc @cathayinnov @expa @redseaventures @53stations and @8bitcapital We have more exciting announcements coming soon... Stay tuned.

There's a fee eating your portfolio that never shows up on a single statement. Everyone checks their expense ratio. Almost nobody checks their tax drag — and over a lifetime, taxes can take a bigger bite out of your wealth than fees or a bad year in the market. Every time you sell at a gain, collect a dividend, or earn interest, you may owe tax on it. How your portfolio is *set up* decides how much. Three things planners actually look at: → Asset location — where your investments live, not just what you own. Things that throw off ordinary income (like corporate bonds) can belong in tax-deferred accounts; tax-efficient holdings (ETFs, munis, direct indexing) in taxable ones. Same portfolio, different tax bill. → Tax-loss harvesting — using a down investment to offset gains elsewhere and trim the overall bill, while staying invested. → Trade frequency — every impulse sale is a taxable event you volunteered for. Trade with intention, not reaction. Your returns aren't fully in your control. Your tax efficiency is. Because it's not what you earn that builds wealth — it's what you keep. Save this. 📌

Two words over Times Square: Do less. 🗽 Earlier this year, Range crossed $1 billion in assets under management, and last week our friends at Ramp sent their congratulations. With Range, members get to "do less," and still rest easy knowing their wealth is taken care of. Investments, taxes, equity and estate planning, coordinated on one platform for one flat fee, so our members get to do… anything else.

Retire before you claim Social Security? You may have just walked into one of the lowest tax brackets of your life. Say you stop working at 57. No salary, Social Security hasn't started, and RMDs don't begin until 73 or 75 depending on your birth year. Your taxable income sits near the floor — while your pre-tax IRA keeps growing. That gap is the window. Moving money from a pre-tax IRA into a Roth in those years can be taxed at a rate you may never see again — and qualified withdrawals later are generally tax-free. How planners actually run it: → Convert enough to fill a bracket, not to hit a round number → Pay the tax from cash or a taxable account, not the IRA — or you shrink the very thing you're growing → Start years before you retire; the best version is multi-year, not one big conversion Early retirement isn't just a spending phase. It's a planning window. Save this if you're within 10 years of retiring.

Make too much for a Roth IRA? You still have options. The backdoor Roth sounds simple: put after-tax money in a traditional IRA, convert it to a Roth. Done. But one rule quietly wrecks it — the pro-rata rule. If you already have pre-tax money in a traditional, SEP, or SIMPLE IRA, the IRS won't let you pick which dollars you convert. It looks at all of it, and part of your "tax-free" conversion gets taxed. The fix most people miss: if your 401(k) accepts rollovers, move that pre-tax IRA money into it. That drops your IRA balance to zero for pro-rata purposes and clears the way for a clean backdoor Roth, year after year. Over decades, that's the difference between compounding tax-free and getting taxed. Matt Ragone, CFP® breaks it down. 👆

Disney will spend $24 billion on content this year — and half of it isn't movies or shows. It's live sports. 🏟️ The company built on animation now spends as much on live games as it does on Mickey. Here's the tell nobody caught: when ESPN launched its own streaming app last year, 80% of sign-ups came through the Disney+/Hulu bundle. Almost nobody bought the sports app on its own. That's the whole strategy. Sports is the hook that sells the bundle — and the bundle is what stops you from cancelling. That's what $24B is actually buying. Streaming finally turned a profit ($1.3B last year, Disney+/Hulu up 88% last quarter) — but the target margin is still only ~10%. Because rights fees never stop climbing. Would you keep the bundle if they split it up? 👇

Killing the penny was supposed to save $56M a year. It might save nothing. A penny costs 3.69¢ to make (losing ~3¢ a coin). A nickel costs 13.78¢ — it loses almost 9¢. That's 3x worse. Do the math and ~638 million extra nickels wipes out the entire $56M savings. The Mint routinely stamped over a billion a year. Treasury's own report even named the nickel the bigger problem… and they retired the cheaper coin first. One more thing worth sitting with: only cash rounds to the nearest nickel — so the "rounding tax" lands hardest on unbanked and cash-reliant households who can't just tap a card to avoid it. Did we ditch the wrong coin? Let us know in the comments. 💬

Miami was supposed to be the cheap escape. 🌴 For the first time on record, the Miami metro is now more expensive than greater New York — the second-priciest large metro in America, behind only San Francisco. Here's the part nobody planned for: the prices caught up to New York, but the paychecks didn't. • Consumer prices up 36% since 2019 • Home prices up 79% since Covid • Property taxes up 62% — more than 2x the national average • Home insurance averaging ~$8,300/yr, roughly 4x New York State Meanwhile the typical Miami household earns about $1,000 below the national median. Same prices, smaller checks. So the tax-haven trade still works — but only at the very top. 24 homes sold for $30M+ in the first half of 2026 (nearly double last year), while the merely well-off are quietly getting priced out. Miami didn't stop being a tax haven. It just stopped being a discount.

Range ranked second on LinkedIn's Top Startups in Washington, DC list for 2026 🚀 buff.ly/ZVZXe6b Top talent in every seat, and a team that has a lot of fun building together. We're hiring: range.com/careers #LinkedInTopStartups

A 64-year-old Ferrari sold for $19.5 million. A modern hypercar would beat it in every measurable way. So why the price? Only 56 of these 1962 California Spiders were ever built. 39 with covered headlights. You can build another hypercar but you can't build another one of these. Scarcity, not speed, set the price — and blue-chip classics are starting to trade like an asset class. Send this to the person in your life who "collects" things. 🏎️

SpaceX just lost a whole Tesla — $1.2 trillion gone in six weeks. 🚀📉 The largest IPO in history is now trading below the price it opened at. Peaked at $225. Closed Monday at $113. Thirteen of its first sixteen sessions? Down. But here's the part almost nobody's watching 👇 Only ~5% of SpaceX trades today. On Aug 6 — two days after its first earnings report — the post-IPO lockup starts to open. By December the tradable float is set to reach 5.33B shares. That's roughly 8× more sellable stock in five months. First earnings drop Aug 4. Buying the dip at $100, or steering clear? Drop your call below 👇 Not investment advice.

A million new millionaires last year. The typical person got poorer. UBS says global wealth jumped 10.8% in 2025 — but median wealth (the person in the middle) actually **fell** in most countries. In the U.S., the average is up ~10% since 2020; the median's down ~20% after inflation. Stocks and property did the minting. Paychecks got left behind.

$24.5M. Never listed. The buyer? A cartoon pirate. 🏴‍☠️ Brooklyn's priciest home of the year just changed hands at 192 Columbia Heights — no listing, no open house, completely off-market. The name on the deed? An anonymous LLC called "Luffy and Friends" — a wink at the treasure-hunting anime pirate. The treasure hunt's over. The rest of us just found out it happened.

Christopher Nolan's Odyssey made $264M in 3 days — and it still might lose money. - 💰 $264M opening weekend ($124.5M home + $139.6M overseas) - 💸 ~$375M to make + market it - 🎟️ Theaters keep about half of every ticket sold - 📉 So it needs ~$700M worldwide just to break even Even the cast took the discount — Damon, Zendaya, Hathaway and Holland reportedly worked for a fraction of their usual $15–20M. A record opening and a profit are two very different things.

Apple put ChatGPT on every iPhone and now it's suing OpenAI for stealing its secrets. On Friday, July 10, Apple filed suit in California — naming OpenAI and two former Apple employees. The complaint claims 400+ ex-Apple employees now work at OpenAI… allegedly "at every level." The hardware chief? Tang Tan — 24 years at Apple, designed the iPhone and Apple Watch. Add the $6.4B OpenAI paid for Jony Ive's design startup, and OpenAI's hardware team is basically Apple's old bench. The wildest part (all per Apple's complaint): candidates were allegedly told to bring real Apple parts to interviews for "show and tell." One engineer allegedly kept his Apple laptop to pull confidential files. OpenAI says it has "no interest in other companies' trade secrets" — and its IPO may now slip to 2027. But whenever it goes public, a lawsuit means discovery… and its secret device plans could still get dragged into court. The device hasn't shipped. The fight already has.

$158 billion pay package. $0 actually taken home. Elon Musk just topped the WSJ's annual CEO pay ranking — his Tesla package is valued at ~$158B, roughly 16x what all 391 other CEOs on the list made combined. Here's the catch: It's entirely stock tied to milestones. Tesla missed its 2025 targets, so his realized pay for the year was zero. He only touches it if Tesla hits its marks over the next decade. Headline pay and take-home pay turn out to be two very different things.

David asked Meta's AI what it knew about his Instagram algorithm. It said: startups, business… and raccoons. 🦝 So he asked it to change the algorithm, and it did. No hack. The AI just went into Instagram's own settings and adjusted the topics for him, the same way you could on your phone. It simply did it for him. That's the real shift with AI agents: give them the right tools and secure access to your apps, and they can handle the tasks you'd normally do yourself. 🎙️ Range co-founder & Chief AI Architect David Cusatis on Okay Computer with Dan Nathan What would you want an AI agent to take off your plate first? 👇