Good afternoon. It's Tuesday, Jan. 30, and we're covering emergency funds, three ways to reduce taxes, 8 Affordable Places Where the Middle Class Should Retire, and much more. | First time reading? Sign up here. | Stock Market Update | | | | | Market Performance: January 29, 2024. | U.S. stocks are drifting around their record heights Tuesday following a mixed set of profit reports. The S&P 500 was 0.1% lower in afternoon trading.
The Dow Jones Industrial Average was up 100 points, or 0.3%, as of 2:19 p.m. Eastern time, and the Nasdaq composite was 0.8% lower. UPS slumped 7.1% even though it reported stronger profit for the latest quarter than analysts expected.
Its revenue fell short of Wall Street's estimates, and it also gave a forecast for full-year revenue in 2024 that was weaker than expected. |
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| | Financial Maverick Insights | | | | | Three Ways to Reduce Taxes on Your Investment Earnings |
When it comes to investing and growing wealth to secure your financial future, it isn't how much you make that matters most — it's how much you keep. And yet, investors often overlook the critical role tax efficiency can play in successful retirement planning.
The strategic management of your investments can help you minimize what you owe, maximize what you earn (and hold on to) and build a nest egg that will last longer for you and your heirs. But it takes proactive planning to make it work. This isn't something you can wait until each year's tax season to worry about and maybe try to play catch-up. Proper tax planning means looking at the big picture, assessing your goals and finding opportunities to reduce your tax burden for the short and long term.
With that in mind, here are three moves that could help you lower your tax bill — and keep more of your hard-earned money — now and in the future.
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| | | | | | No emergency fund? These tips can help you build savings and find extra cash in your budget, advisors say | Finding extra money to set aside for cash savings is a difficult goal for many Americans. Financial advisors say they use these tips to help people build better savings habits and find extra cash in their budgets to set aside. If you're like most people, you may not have an emergency savings fund. It's not necessarily our fault, experts say, as our brains are programmed to focus on our needs today.
We're just not wired to save. Research shows Americans' cash balances often fall short of that goal. A new Bankrate survey released last week found just 44% of Americans could pay for an unexpected $1,000 expense with savings. | Changing our instincts to spend today requires us to build new habits.
Financial advisors often see this barrier to savings with their clients and have their own tactics for nudging clients to set aside more cash and free up flexibility in their budgets. |
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| Real Estate News |  | Housing market update poses "massive problem" for homebuyers | Buying a home is "not even remotely possible" for first-time homebuyers, the Moody's Analytics chief economist said. |
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|  | Real Estate Agents: 8 Affordable Places Where the Middle Class Should Retire | Being middle class often means having enough to not worry about your basic needs, but not necessarily so much that saving is a breeze, which makes an affordable retirement important. |
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|  | Billion-Dollar Watson Salari Real Estate Team Joins Official Brokerage (Exclusive) | The A-list duo of Brent Watson and Marco Salari of the Watson Salari Group, who are moving from Coldwell Banker, have done deals for Nate Berkus and Jeremiah Brent and designer Brunello Cucinelli. |
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| | Personal Finance Tips |  | Traveling this summer? Keep these budget tips in mind | Flight tracking sight Hopper is listing their travel hacks for 2024. Here are three things you need to know. |
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|  | 9 Common Financial Tips You Should Ignore | Advice is plentiful, but not all of it is good. |
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|  | The Cost of Groceries In America's 15 Biggest Cities | How much you spend can vary. |
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| | Alternative Investing |  | Elon Musk's Neuralink Paves the Way for AI-Powered Crypto Boom | Neuralink successfully implants its brain-chip technology in the first human patient. |
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|  | SOL, AVAX Lead Crypto-Market Recovery, Bitcoin Tops 50-Day Average Before Fed Meeting | Altcoins are outperforming bitcoin and ether, a sign investor interest is broadening beyond the largest cryptocurrencies. |
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|  | Microsoft profit soars 33% on AI, cloud-computing investments | Microsoft Corp. said Tuesday that net profit for the October-December quarter soared 33%, powered by its significant investments in artificial intelligence technology. |
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