Good morning,
10 weeks in and I’m having a blast. Check out the two lessons I’ve taken away from writing this newsletter for a few months.
Without further ado, your Thursday newsletter.
Top Reads 📰
The $42 Billion Question: Why Aren’t Americans Ditching Big Banks? (WSJ)Prosecutors Say FTX Was Engaged in a ‘Massive, Years-long Fraud’ (NYT)U.S. lawmakers scramble to regulate crypto (Reuters)Fed Raises Rate by 0.5%, Signals More Increases Likely (WSJ)Intensified housing market correction has homebuilders offering sweetheart deals to Wall Street (Yahoo)There’s nothing noble in taking unnecessary risks (Darius Foroux)Zero-fee rent payments: A review of the Bilt Mastercard (The Points Guy)Who really benefits from 529 plans? (NYT)Millions of Americans set to get surprise tax forms in 2023 (Axios)
BS You Should Ignore 🙅🏼♂️
Core holding Honeywell is a recession-resilient industrial for 2023, Bank of America Says (CNBC)3 Dividend Stocks to Buy When 98% of CEOs Predict a Recession (Seeking Alpha)
Markets 📈
As you may have noticed on Tuesday, I’ll be removing market conditions from all future newsletters. You can easily find this on your own, but I encourage you not to be overly concerned with daily movements. Ideally, you check your portfolio 1-4 times per year.
Tip 💎
“Paying 1% per year for a financial advisor over 30 years could cost you hundreds of thousands of dollars in unnecessary fees. That doesn’t even include commissions. If you truly need a financial advisor, opt for a fee-only advisor instead of one who charges by assets under management.”
You may need a financial advisor if:
You have $1M in investable assetsYou own a business or multiple propertiesYou have a complex financial situation (divorce, stepchildren, alimony, etc.)
If you’re simply saving for retirement, you’re likely paying excessive fees for something you could easily do by yourself.
Read the Full Article: You Probably Don’t Need a Financial Advisor
Announcements 🔈
I’m doubling my reward for referrals. Use your referral link below to sign up 5 friends and I’ll send you a $10 Amazon gift card!In honor of the holiday season, I got you something. Is there someone in your life constantly giving you bad financial advice? Send them this.
Deals 🤝
Wealthfront Savings Account Now Offering 3.8% APY (Wealthfront)Give $25 to Your Favorite Charity for Free (Daffy)Get a $200 welcome bonus – my favorite credit card for everyday spending (Chase Freedom Unlimited)Get a one year supply of Vitamin D3+K2 & 5 free travel packs of Athletic Greens (AG1)
Have an excellent weekend.
Cheers,
Cole
PS: Remember that market declines are “fees” not “fines.” Stay the course!
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Disclaimer: This newsletter is strictly informational. It is not investment advice, tax advice, financial advice, or a solicitation to buy/sell any assets. Please do your own research. This newsletter may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links (at no cost to you).