Good morning. It's Thursday, March. 28 and we're covering Mark Cuban's best passive income ideas, the surprising money lessons people learned in their first jobs, what everyone's getting wrong about the housing market, and much more. | First time reading? Sign up here. | Stock Market Update | | | | | Market Performance: March 27, 2024. | The S&P 500 rose Wednesday, closing at a record as the index heads for its best first quarter since 2019.
The broader market index gained 0.86% to close at 5,248.49, while the Dow Jones Industrial Average advanced 477.75 points, or 1.22%, to end at 39,760.08. Both indexes snapped three-day losing streaks. The Nasdaq Composite rose 0.51%, closing at 16,399.52.
Stocks rose in a broad rally Wednesday, with all 11 sectors of the S&P 500 registering gains. Utilities led the index higher, posting a nearly 2.8% jump. Real estate followed with a 2.4% advance, and industrials added 1.6%. |
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| | Financial Maverick Insights | | | | | Mark Cuban's Best Passive Income Ideas | Mark Cuban is well-known for his outspoken views on everything from politics to investing. The self-made billionaire doesn't hold back when it comes to sharing his two cents on how folks can improve their finances and even get rich.
Dividend-Paying Stocks
According to Cuban, dividends put actual cash into investors' pockets, giving them real-world value by generating passive income right off the bat. With non-dividend stocks, according to Cuban, value is only a vague notion derived from various market metrics. Dividend-paying stocks are likely the closest investment Cuban has to true "passive income." In addition to the capital gains that these stocks generate, they also pay dividends every quarter, guaranteeing an income even if the markets are down.
AI Companies
For the most part, Cuban isn't a big believer in owning individual stocks. As he's put it, "I believe non-dividend stocks aren't much more than baseball cards. They are worth what you can convince someone to pay for them."
Cryptocurrency
Cryptocurrency isn't a true source of "passive income," but rather a swing-for-the-fences that'll either flame out or pay huge dividends. As Cuban tells it, cryptocurrency has value because it's based in part on smart contracts. This underlying technology, Cuban believes, eventually creates applications that have universal utility. In turn, cryptocurrencies that are based on functional smart contracts should have significant value. Unlike many individual investors, the billionaire isn't simply speculating blindly – he understands the underlying technology and sees its value.
S&P 500 Index
Although Cuban and Buffett disagree strongly on crypto, with Buffett calling Bitcoin "rat poison squared," they're definitely on the same page when it comes to the use of low-cost, S&P 500 index funds for the majority of investors. However, the index as a whole has a long-term total return of about 10% annually. With long-term, consistent investment, the index may provide a significant source of passive wealth.
Private Companies
As one of the primary investors on "Shark Tank," Cuban regularly invests in small, private companies. This is another form of high-risk, high-reward investment and to be frank, Cuban has access to more of these types of opportunities than the average investor. However, Cuban also generally has to put in more blood, sweat and tears than you might if you invested in a private company via a crowdfunding platform or mutual fund. |
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| | | | | | The Surprising Money Lessons People Learned in Their First Jobs | Because many people have little to no work experience when taking their first job, these jobs are often forgettable experiences that you might not think much about down the road. However, you might be surprised to realize you learned more at a first job than you first considered.
Show Your Work When Asking for More
Sharon Rose Hayward, founder of Winning at Work, worked her first job at a pizza shop. She soon found out that the salary advertised for her same position at a different establishment was 25% higher and she got an idea. "I created a document that showcased everything I handled, had learned, education I was pursuing, leadership examples, etc.," Hayward said. "I scheduled a meeting, told them I knew their market rate for my position was 25% more, shared my document and told them I should be at that same level." Her hard work paid off. She received the pay increase. "In reality, looking back I should have received more because I had more company knowledge and experience, but the lessons stick with me. I teach this to my clients and in all of my classes."
Your Career Is in Your Hands
In Hayward's pizza shop job, she overheard all kinds of high-level, professional people discussing their job strategies at lunch and realized even then that "[S]ometimes a job is a financial dead end and it was up to me to do something about it. That's the underlying theme to everything I do, all the women I coach, blogs, book, etc. — it's really in your control to get what you want, no blame and no giving others control." She soon left the pizza shop and applied to a job as a clerk in a law firm, which really leveled up her expectations of what was possible. "Ultimately I was inspired to become a women's career coach because of these examples, especially the 25% salary increase," she said. "Most women I worked with as colleagues and later those who reported to me had no idea that they could ask for more, expect more or that anything different was even possible. That's what inspired me and continues to drive me to this day."
Quality Work Attracts Better Pay
Derek Bruce, the operations director at First Aid at Work Course said that the most important lesson he learned in his first job was that "quality work attracts opportunities for better pay." He found that his attention to detail was reflected in his compensation. "When [you do] a good job, people take notice. Not only your boss but your co-workers whose respect you seek. Good work is the surest way to make a long-term living through a stellar reputation for excellence that eventually translates into promotions, pay increases and opportunity," Bruce said. |
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| Real Estate News |  | What everyone's getting wrong about the housing market | The rise in mortgage rates has both buyers and sellers playing the waiting game. They could be making a grave mistake. |
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|  | Real estate agent uncovers 'misinformation' involving major settlement that could shake up industry practices | New York licensed real estate salesperson-certified buyer representative (CBR) Brittany Sandarciero explains misconceptions around a settlement from the nation's leading real estate trade group. |
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|  | Three Tax-Smart Strategies for Real Estate Investing | Opportunity zones, Delaware statutory trusts and real estate income funds can help investors maximize gains and mitigate taxes. |
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| | Personal Finance Tips |  | Impulse Buying Is Hard to Stop. 5 Expert Tips That Can Help You Resist the Urge | Forget the advice you've heard before. Overspending goes deeper than you think. |
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|  | Money Tips Monday: Protecting yourself against scams, frauds - Okanagan | Globalnews.ca | 'If you suspect that you are being scammed, hang up, wait 10 minutes and call your local police service,' the RCMP said. |
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|  | Self-made millionaires share 5 money rules that helped them be more successful and grow their wealth | Beyond increasing your income and making wise investments, here are five tips to help meet your money goals. |
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| | Alternative Investing |  | AI Revolution Goes Decentralized: $7.5B Token Merger Aims To Challenge Big Tech | Three blockchain-based artificial intelligence (AI) firms — SingularityNET (CRYPTO: AGIX), Fetch.ai (CRYPTO: FET), and Ocean Protocol (CRYPTO: OCEAN) — are in talks to merge their crypto tokens into a single entity called ASI. |
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|  | History of Crypto: Ethereum's entry and Bitcoin's expansion | As Bitcoin continued its early stages of development, the largest exchange at the time was on its way to ruin. |
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|  | Amazon spends $2.75 billion on AI startup Anthropic in its largest venture investment yet | Amazon is spending billions more to back an artificial intelligence startup as it looks for an edge in the new technology arms race. |
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