Good afternoon. It's Saturday, April. 27 and we're covering how to fund your next big purchase, tips for saving time/money on travel, 3 real estate stocks building success, and much more. | First time reading? Sign up here. | Stock Market Update | | | | | Market Performance: April 26, 2024.
Stocks jumped Friday, and the S&P 500 and Nasdaq Composite notched their best week since November as Big Tech names rallied on strong earnings and traders pored through fresh U.S. inflation data.
The broad market index advanced 1.02% to settle at 5,099.96. The tech-heavy Nasdaq climbed 2.03% to close at 15,927.90 and secure its best daily move since February. The Dow Jones Industrial Average rose 153.86 points, or 0.4%, to finish at 38,239.66.
The S&P and Nasdaq clinched their best week since November. The S&P popped 2.7% to snap a three-week losing streak, while the Nasdaq gained 4.2% for its first positive week in five. The Dow edged up 0.7%. |
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| | Financial Maverick Insights | | | | | Should You Use These Money-Saving Tricks of Jeff Bezos and Other Billionaires To Fund Your Next Big Purchase? | You might think that billionaires like Jeff Bezos, among others, have all the cash in the world to purchase whatever they desire: yachts, expensive watches and luxurious homes. But often, the world's wealthiest elite are frequently tied up in stocks. Selling those stocks leads to capital gains tax, reducing their net worth.
There's a way around it, though. And an increasing number of brokerage firms and life insurance providers are making this tax-saving tactic available to average investors. However, it's important to understand the risks involved.
Borrow Against Your Investment Portfolio
For years, people have borrowed against their 401(k) retirement fund for major purchases or to pay off high-interest debt. That's better than paying the taxes and penalties for an early withdrawal, but it's not ideal. The benefit is that you pay the money back to yourself over time with interest. The drawbacks, however, are that you're missing out on tax-deferred compound interest that could bring you closer to your retirement goals, according to an article on the Merrill Lynch website.
Further, if you leave your job or get laid off, you might have to pay the loan back immediately — and the amount you owe, according to Merrill Lynch, now counts as an early distribution, which could mean additional income taxes owed.
Is Borrowing an Option?
However, if you're taking out a low-interest loan against your assets to keep money in the bank or in stocks, with little risk — and you know your investment value isn't likely to drop — you could increase your returns and avoid capital gains taxes. It's always smart to consult with a financial planner before leveraging or selling assets, especially if you are approaching retirement age and want to invest conservatively.
Consult With a Financial Expert
Borrowing against assets or life insurance to keep cash in the bank or earn money could be a risky move, especially if you can't repay the loan. Plus, it's important to consult with a financial advisor to help you choose the right products for these kinds of money moves. "There are many, many other nuances to using a cash value life insurance policy properly," Burnham-Grubbs said.
It's important to lean on financial professionals who understand your specific situation and offer targeted guidance if you feel this could be a strategy that will enhance your financial well-being now and in the future. |
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| | | | | | I'm a flight attendant — here are tips for saving time, money on travel | "May and September are great months to travel, as they're before and after peak summer here in the US," flight attendant Bernice Padilla, 29, confided to SWNS. "You have less crowds and more affordable prices, but the weather is still nice," she continued.
"Every country has their specific shoulder season, so I recommend doing some research before booking." Padilla, a flight attendant for six years who has visited 44 countries, is sharing tricks of the travel trade — from flights to book to countries to explore.
Padilla also revealed her preference for booking the earliest possible flight to avoid delays. "If there are any delays, it ends up being a domino effect. Say there is a delay in California due to the weather — then my flight here can't take off until that flight takes off," she reasoned. "Everything trickles down, whereas if you fly early, your plane will be there from the night before."
And when it comes to packing, Padilla recommends traveling with carry-on luggage, especially in the summer. If that's not possible, she relies on compression packing cubes. "I still have a problem with overpacking, but I try not to overpack as much," she confessed. "I always travel with compression cubes — that way you can fit more into your suitcase."
Her travel must-haves include a reusable water bottle, a sweater or blanket, a pen to fill out any forms that might be needed at arrival, noise-canceling headphones, and a portable charger. |
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| Real Estate News |  | Housing supply surges by up to 50% in these metro areas — and many sellers are being forced to slash their asking prices | The property report includes 85 major metropolitan areas in the U.S. with populations of at least 750,000. |
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|  | Berkshire Hathaway's real estate firm to pay $250 million to settle real estate commission lawsuits | A real estate company owned by Warren Buffett's Berkshire Hathaway has agreed to pay $250 million to settle lawsuits nationwide. |
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|  | Top Stock Picks: 3 Real Estate Stocks Building Success in 2024 | With potential Fed rate cuts comes a build in bullish momentum for the real estate stocks of 2024, with these winners in front. |
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| | Personal Finance Tips |  | 'The Real Reason You're Broke': Ramsey Show's Jade Warshaw on Budgeting, Student Loan Debt | As a debt elimination expert and financial coach on The Ramsey Show, Jade Warshaw sprinkles her financial advice with wi |
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|  | 6 Ways I'm Slashing My Ridiculous Grocery Budget As A Mom Of 5 | Gone are the days of buying three types of cereal because the kids couldn't agree on one. Groceries are expensive AF, and a mom has to cut costs where she can. |
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|  | How much money is enough? | It's a common question, of course. How rich do you need to be before you stop wanting to be richer? Which leads us to a deeper question: At what point will more money cease to make us happier? That's a more nuanced matter. |
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| | Alternative Investing |  | Investors to Big Tech: Mind Your Pocketbook | Big tech companies are sitting on huge piles of cash. Investors are judging them by how they plan to use it. |
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|  | Contrary to Crypto Influencer Hype, Data Reveals 'It is Not Altcoin Season' | Over the past 90 days, while bitcoin has shown steady performance, 19 other cryptocurrencies have outpaced the leading digital asset in terms of price growth. |
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|  | AI is evolving and investors need to change with it. Here's what to expect. | The market for artificial intelligence is undergoing a profound transformation, reshaping industries and investment strategies alike. |
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| | Do you think AI is evolving and that investors need to change with it? | | | 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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