Good morning. It's Wednesday, Jan. 3, and we're covering financial advisor questions, auto-paying your bills, the pros and cons of real estate investing, and much more. | First time reading? Sign up here. | Stock Market Update | | | | | Market Performance: January 3, 2024. | 659 Fed minutes, jobs data: What to watch this weekScroll back up to restore default view. Hamza Shaban and Karen Friar Tue, January 2, 2024 at 12:59 PM HST In this article: ^IXIC -1.63% ^GSPC -0.57% ^DJI +0.07% US stocks retreated Tuesday, setting Wall Street up for a downbeat start to 2024 after a winning year that left the S&P 500 just short of a new record high.
The benchmark S&P 500 (^GSPC) lost nearly 0.6%, while Dow Jones Industrial Average (^DJI) rose just above the flatline. The tech-heavy Nasdaq Composite (^IXIC) led the losses, shedding close to 1.6%.
The rally in stocks stalled on Friday after two months of gains that helped the major gauges end 2023 with strong yearly gains. Plus, the S&P 500 notched its ninth weekly win in a row, the longest streak since 2004, and is inching toward taking out its all-time closing high of 4,796.56. |
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| | Financial Maverick Insights | | | | | Ask Yourself These Questions Before Hiring a Financial Advisor |
With the rise of free online trading platforms and investment apps, more people are choosing to manage their own finances and investments instead of using a traditional financial advisor. However, going the do-it-yourself route requires asking yourself some honest questions first.
After all, you're not as objective as you think. And your own shortcomings are something to be vigilant about, especially when it's your money on the line. Here are the important questions to ask yourself to evaluate whether you have what it takes to truly be your own financial advisor.
Ask these questions before being your own financial advisor:
What are your financial goals?
Before making any investment decisions, you need crystal clarity on what you want to achieve financially. Do you want to save up for a down payment on a house? Retire early? Pay off debt? Build an emergency fund?
How much time can you devote to managing your finances?
Effectively managing your own finances and investments is a time commitment. Are you willing to carve out time to read financial resources, research investments, monitor your portfolio, etc.? If not, you may want to work with a financial advisor who can afford to dedicate their time and expertise.
Make sure you have specific short- and long-term financial goals mapped out.
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| | | | | | I Took These Bills Off Autopay: Here's What I Learned About My Money | Susan Thompson had relied on the convenience of autopay for her bills for many years. As a busy attorney, she appreciated how the automated payments simplified her finances without demanding much time or attention on her part. However, Susan eventually began to feel disconnected from her own money and financial choices.
Removing bills from autopay quickly proved to be an empowering shift for Susan.
"I wanted to feel more connected to my finances," she said. "Autopay made everything seamless, but I realized I was losing touch with the details." Susan started to manually review and approve certain bills each month instead of letting payments automatically withdraw without scrutiny.
While admittedly more time-consuming, Susan found that the simple act of logging in to assess and authorize transactions kept her actively engaged with her expenses in a meaningful way. "It was like taking the wheel after being on autopilot for too long," she described.
When reviewing her finances, Susan identified five key bills that seemed to be good candidates to take off autopay. |
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| Real Estate News |  | 'Married to Real Estate's' Egypt Sherrod and Mike Jackson Say Their Success Is Within Their Family [Interview] | Egypt Sherrod and Mike Jackson may have a hit HGTV series, but they say they're nothing without family. |
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|  | Unconventional Real Estate Riches: Finding Hidden Road | Discover unconventional real estate wealth by spotting hidden opportunities on the road. Learn the art of lucrative investment. |
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|  | Changing Real Estate Landscape Ahead: 2024 Predictions | Changing Real Estate Landscape Ahead: 2024 Predictions - Off Plan Property Exchange |
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| | Personal Finance Tips |  | Money Can't Buy Happiness, but Getting Rid of Clutter Can | Science suggests simplification, not accumulation, as a root of well-being. |
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|  | How to Reduce Food Waste and Save Money | Cutting down on food waste is good for the environment—and your wallet. |
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| :max_bytes(150000):strip_icc()/GettyImages-6412743211-09858c2621454f3591097db43cb82099.jpg) | What Phobia Is the Fear of Spending Money? | This article explores the symptoms, causes, impact, diagnosis, and treatment of chrometophobia, as well as some coping strategies that may be helpful. |
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| | Alternative Investing |  | Elon Musk Criticizes NFTs, Gives Nod to Inscriptions: 'At Least Encode the Jpeg on the Blockchain' | Elon Musk, the chairman of X, has referred to non-fungible tokens (NFTs) and the defects of their implementation, indirectly making the case for inscriptions. |
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|  | Bitcoin climbs above $45,000 for first time since April 2022 | Investor focus has squarely been on whether the U.S. securities regulator will soon approve a spot bitcoin ETF. |
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|  | 3 Artificial Intelligence (AI) Stocks to Buy Hand Over Fist in January | These companies have massive potential in AI over the next year and look too good to pass up. |
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