Good morning. It's Thursday, March. 07 and we're covering where you should keep your emergency savings, unraveling Lee Majors' financial success, real tips from a real estate agent, and much more. | First time reading? Sign up here. | Stock Market Update | | | | | Market Performance: March 06, 2024. | US stocks popped on Wednesday, with techs vaulting back from a steep sell-off as investors digested Federal Reserve Chair Jerome Powell's stance that interest rate cuts are still likely this year.
The tech-heavy Nasdaq Composite (^IXIC) jumped nearly 0.6% after techs led a sharp slide in stocks more broadly on Tuesday. The S&P 500 (^GSPC) also added 0.5%, while the Dow Jones Industrial Average (^DJI) popped 0.2%, as both indexes came off losses of more than 1%.
Powell's testimony to Congress later may provide a catalyst for stocks, which have logged two days of losses as a battering for "Magnificent Seven" stalwarts Apple (AAPL) and Tesla (TSLA) fueled bubble fears.
Investors will listen closely for any deviation by Powell from Fed policymakers' much-repeated message that there's no rush to cut interest rates. Powell told lawmakers that rate cuts are likely to be warranted "at some point" in 2024. Investors will look for more clarity on this issue as Powell fields questions from lawmakers over the next two days. |
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| | Financial Maverick Insights | | | | | Where Should I Keep My Emergency Savings | An emergency fund is an essential part of the journey to financial freedom. As for where to stash it, you want it somewhere accessible that's earning interest while it sits. This is true for every type of cash reservoir, so let's talk about what to do with all your so-called "savings." | Savings account.
Theoretically, this is where you want your emergency fund. A quick step away from the checking account so you can cover a medical emergency or a change in income, but not mixed in with the money that's getting spent day to day. That said, if your current savings account has a .05% APY, that's not a great place for a significant capital reserve. There are lots of online banks offering between 4-5% interest, meaning your emergency fund could earn $50-100 a month just by existing. You don't want money sitting around doing nothing; you also don't want to lock your emergency fund up in a 3-year CD. A high-yield savings account is the perfect solution.
Bonds.
Once you build up savings that aren't strictly for use in the event of an emergency, you can get a little more creative with where you stash those funds. Bonds can be purchased through your average brokerage company, like E*Trade or Robinhood, and the limited risk is balanced by a return upwards of 6%. You can also get government bonds through Treasury Direct—very safe, and occasionally the rates are pretty high. Again, these options aren't for the emergency fund, but rather alternatives for money that would otherwise be growing stale in a bank account.
Invest or pay off debt.
A lot of people have an emergency fund and then an additional savings account because their Money Personality is Saver and they just can't help themselves. I recently worked with a woman who had, in addition to emergency savings and two retirement accounts, $20,000 that she had no real plan for. Meanwhile, she had $10K in student loan debt with a 15% interest rate. Her urge to have a flush savings account was actually costing her money because she couldn't pull the trigger and part with her earnings to pay off debt. Once you have a security net in place, the rest of your money needs to get to work. Put it in your IRA, into a brokerage account, or earmark it for buying a house. Just don't let it sit around and do nothing. |
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| | | | | | Unraveling Lee Majors' Financial Success: How He Achieved a $15 Million Net Worth by 2024 | The enigmatic world of celebrity net worth continues to fascinate and perplex us as we delve into the financial standings of our beloved stars. One such figure that has captured our attention is none other than Lee Majors, whose net worth in 2024 is estimated to be a staggering $15 million.
The American actor, renowned for his iconic roles in The Six Million Dollar Man and The Fall Guy, has solidified his status as a Hollywood legend through his impressive contributions to the entertainment industry. With a career spanning decades, Lee Majors has not only captivated audiences with his charismatic presence on screen but has also amassed a substantial fortune along the way.
As we contemplate the vast wealth accumulated by celebrities like Lee Majors, we can't help but marvel at the seemingly limitless opportunities that exist within the realm of show business. It serves as a testament to the boundless potential for success and prosperity that can be achieved through talent, hard work, and perseverance in an industry where dreams truly have the power to become reality.
What factors have contributed to Lee Majors' impressive net worth of $15 million in 2024?
First and foremost, Lee Majors' successful acting career has played a significant role in his impressive net worth. With iconic roles in TV series like The Big Valley, The Six Million Dollar Man, and The Fall Guy, he not only gained fame but also accumulated significant wealth. Additionally, his popularity from television appearances opened doors to lucrative endorsement deals with various companies, further boosting his net worth and solidifying his status as a household name in the entertainment industry.
Moreover, Lee Majors is known for making wise financial decisions and strategically investing his earnings. This shrewd approach to money management has undoubtedly played a crucial role in his financial success and accumulation of wealth. |
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| Real Estate News |  | Buying a Home in 2024? Real Tips From a Real Estate Agent | I've guided a lot of homebuyers over the years. Homeownership is challenging in today's market, but it's not impossible if you're prepared. |
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|  | Weekly mortgage demand surges 11% as more homes hit the spring market | Mortgage demand surged back last week as the spring season kicked off with still higher mortgage rates. |
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|  | Housing Market 2024: Buy a Home in These 25 Places If You Want It To Gain Value | Many financial experts agree that purchasing a house is a solid investment. As you pay down your mortgage debt, you'll gain equity in your home. Also, in general, the value of a home goes up over... |
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| | Personal Finance Tips |  | Why do people with little money make so many bad decisions? | Psychologist Ingvild Stjernen Tisløv says that people with payment problems need more professional help. This year, thousands of bank employees in Norway are being taught basic psychology. |
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|  | Supercharge Your Savings: Surefire Tips to Grow Your Money Faster | Saving money doesn't have to be a struggle. These strategies can help. |
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|  | Can Money Really Buy Happiness? | Money and happiness are related—but not in the way you think. |
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| | Alternative Investing |  | Why Small Businesses Are Investing in AI This Year | Small businesses are investing in artificial intelligence (AI) software and services to keep up with the fast-developing technology. |
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|  | Elon Musk Raises Alarm on Big Tech AI Threats and Population Collapse Concerns | Elon Musk's recent comments shed light on the risks posed by Big Tech AI giants and the challenge of population collapse. |
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|  | Warren Buffett Says He Wouldn't Pay $25 For All The Bitcoin In The World – He Considers Crypto 'Rat Poison' And Warns: 'I Can Say With Almost Certainty That They Will Come To A Bad Ending' | The cryptocurrency market is a whirlwind of excitement and uncertainty, fueled by a fear of missing out (FOMO) and speculation about its future trajectory. |
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