Good morning. It's Friday, Dec. 22, and we're covering financial advice for young Americans, effective cash flow management during uncertain times, expanding your real estate network, and much more. | First time reading? Sign up here. | Stock Market Update | | | | | Market Performance: December 22, 2023. | US stocks climbed Thursday to rebound after the major indexes suffered their worst daily sell-off in months. The S&P 500 (^GSPC) popped about 1%.
The Dow Jones Industrial Average (^DJI) rose 0.9%, while the teach-heavy Nasdaq Composite (^IXIC) gained more than 1.2% after both indexes had snapped nine-day win streaks. Thursday brought a wave of economic data:
The final reading of Gross Domestic Product for the third quarter showed the US economy grew 4.9% on annualized basis in the period, below the consensus estimate for 5.2% growth. Meanwhile, the latest data on initial jobless claims showed 205,000 people filed for unemployment insurance in the week ending Dec. 16. Economists had estimated 215,000 claims were filed. |
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| | Financial Maverick Insights | | | | | Here's the top place Americans get financial advice – even young Americans |
More than half of Americans (57 percent) sought out financial advice in 2023, and their top resource may surprise you, according to a new Bankrate survey. Friends and family topped the "go-to" list, with 47 percent of those seeking advice saying they tapped these sources for information.
Popular sources of information differed strongly by age group. Younger generations were among the most likely to hit up friends and family for advice and were also the most likely to use social media for their financial questions, too. In contrast, older generations were least likely to use social media for advice and were the most likely to use financial advisors.
Despite these numbers, 43 percent of Americans said they did not seek financial advice in 2023. Older Americans were more likely to not seek out advice than younger generations.
Here's the full rundown of where Americans get their financial advice from, by age and income. Given the wide variety of sources of financial information and the ability of almost anyone to offer advice, Americans need to carefully vet financial guidance before taking action.
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| | | | | | Strategies for Effective Cash Flow Management in Uncertain Times | Cash flow management is integral to running a company, but many companies fail because of it. Many organizations find it's getting trickier to navigate the complex modern business landscape. Learning what effective cash flow management entails can help them thrive in any risky environment.
Cash flow management is the process of understanding and optimizing monetary inflows and outflows to sustain a company's operations. It involves staying on top of financial transactions, like tracking spending and customer payments. Organizations must ensure their cash inflow is more significant than their outflow to continue doing business.
Here are several strategies businesses can use to ensure effective cash flow management during economic uncertainty. |
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| Real Estate News |  | The importance of expanding your real estate network in 2024 - REM | Knowledge-sharing is such an incredibly valuable tool that many business owners forget about and is perhaps the biggest reason to prioritize networking through 2024 |
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|  | AI Chatbot For WhatsApp And Facebook In Real Estate Industries | Definition and Purpose: |
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|  | Unlocking the Potential of Just Sold Postcards in Real Estate Marketing | OCNJ Daily | In the dynamic realm of real estate, effective marketing strategies can also make all the difference between success and stagnation. |
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|  | 10 cities where homes are selling faster than last year | Median homes in the top three cities in this ranking are being sold on average 12 days faster than the year before. |
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| | Personal Finance Tips |  | 10 Most Important Money Lessons To Learn in Your 20s, According to Experts | Your 20s are a great opportunity to enjoy life, explore your tastes and interests and try new experiences. |
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|  | 54 Side Hustle Ideas To Make Money Fast In 2024 | A list of side hustles ideas and interesting jobs that you can use to earn extra money fast to pay down debt or start investing in your future. |
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|  | 5 lessons I learned from 'You Are a Badass at Making Money' that anyone can apply to their finances | In her second book, author Jen Sincero shares her journey from freelance writer living in a converted garage to New York Times-bestselling author. |
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|  | 20 Cash Businesses to Consider | There are hundreds of cash businesses out there. Here are the very best to inspire you to take the next step. |
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| | Alternative Investing |  | World's largest broker dealer says Bitcoin's rise is stoking demand for crypto derivatives | TP Icap's Duncan Trenholme got animated when speaking about a recent milestone in crypto — that he says went under the radar. |
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|  | How Elon Musk's Twitter acquisition impacted Tesla stock's rollercoaster year | TheStreet's J.D. Durkin dives into Tesla's rollercoaster year and the road ahead for the EV company. |
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|  | Can Oracle Cash-In On The AI Cloud 'Gold Rush'? | Oracle (ORCL) says artificial intelligence is boosting demand for its cloud products at an astronomical rate. |
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| | Do you think the interest in artificial intelligence is growing or decreasing? | | | Reach Over 100,000 Financial Mavericks | Advertise with Financial Maverick to get your brand in front of the Financial Gurus in the world. The Mavericks are high-income and highly knowledge people who are always looking for an interesting product or tool. | | | Share Financial Maverick | Calling all Financial Mavericks! To help out a family and friend in need by sharing this newsletter. Tell you what if you ever wanted to be a Hero, Financial Guru, or a Nice Person this is your time! | | | DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research. | |
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