Clark Biweekly 11 7 24

Author

Anthony Hazzard
November 07, 2024

Another major retirement change is about to take effect on Jan 1. Later in this email, you will learn what that is and who it will benefit. 

💵 Today’s Top Stories
Car

You should know what your car is worth even if you’re not planning to sell. It has become tougher to figure out with valuations changing so quickly, but Clark has some good tips. Read more.

Costco

A vintage 32-piece Tupperware set, a discounted Stitch golf bag, a dog advent calendar and a Lego Christmas tree bundle are just some of the new items we found and love. Read more.

Hearing aids

You can buy hearing aids over the counter. The days of paying 30 times the price are over. Here are the best places to buy them. Read more.

Email

Many of us have used the same email address for decades. But is it safer to use a different email for our banking and investing? Clark shares his take and some of his privacy-protecting email providers. Read more.

Streaming TV remote

This streaming service offers A&E, History, Lifetime, The Weather Channel, Hallmark and more for as little as $6.99 per month. Read more.

💵 New Rule: Supersized Catch-Up Contributions for Ages 60-63

It’s almost Thanksgiving, which seems shocking. If it seems like 2024 flew by, there’s some evidence that suggests time speeds up every year that we age.

But the trend of major retirement changes hitting each year is about to continue on Jan. 1, 2025.

It’s optional for employers to implement the change brought on by SECURE 2.0. But the enhanced contributions for those 60 to 63 is $10,000 or 150% of the standard catch-up contribution, whichever is greater.

In 2025, the new super catch-up contributions are $11,250. The standard 401(k) catch-up contribution for those 50 and older is $7,500. So you can now make major headway toward your retirement if you’re close to 65.

📊 Stat of the Day

📈 51.4%: The share of consumers who believe stock prices will be higher in one year – the highest percentage since 1987. Just 23.6% expect a market decline. Clark’s investing advice: dollar-cost average and slowly raise the percentage of your paycheck that you save over time.

💰️ Deal Alert: Today’s Top Deals
Target store
Wayfair Deal
🎙️ Podcast

Ads for drugs are constantly airing on our TVs. A recent study found a surprising statistic that may make you think twice before bringing it up to your doctor. Also, mortgage rates have been sky high, but they are starting to normalize. However, it still may not be feasible to refinance. Clark revives advice from 10 years ago that can help you save big bucks on your mortgage.

☎️ Need Money Help?

The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.

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