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- Clark Biweekly 12 5 24
Clark Biweekly 12 5 24
Anthony Hazzard
December 05, 2024
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Did you hear the story about a Macy’s employee who hid millions of dollars? This happened recently, and there is a theory about it. Find out all the info later in this email.
💵 Today’s Top Stories
 | The average 401(k) balance went up 20% in the last five years and the average IRA account went up 14% in the last year. How does yours compare? Read more. |
 | Airlines constantly evolve. Right now, Clark says, there’s a one-click strategy that can save you real dollars on flights inside the U.S. Read more. |
 | Have you ever used Camelcamelcamel? If you shop at Amazon, learn how this free tool helps you find the best deals and figure out the best time(s) to buy. Read more. |
 | There’s a major scam and it’s impacting drivers across the nation. If you get a text about a toll violation, don’t just pay it! Before you hit the road to commute or travel, read this. Read more. |
 | False, false, false and false. Learning to reject these four money myths can do wonders for your finances, as Clark explains. Read more. |
💻️ Tech Tip From Kim Komando
Stop blabbin’: Dropbox’s AI may share your files with OpenAI and other third parties. Don’t remember signing up for that? To turn it off, log in to Dropbox, hit your Account icon, go to Settings, find the Third-Party AI tab and toggle the switch to Off. Join 575K people who get Kim’s free newsletter, The Current.
🔎 The Case of the Missing $154 Million at Macy’s
Macy’s held its annual Thanksgiving Day Parade in Manhattan last week. But it wasn’t the biggest headline the company made.
The department store chain delayed its third-quarter earnings report until Dec. 11 after discovering an employee hid … not $1,000, not $1 million … but $154 million in delivery expenses in the last three years.
Wow!
In February, Macy’s announced that it planned to close 150 stores in the next three years. The company said it gained $66 million in asset sales, but in-store sales fell 2.4% and missed projections.
Why would the employee, who no longer works for Macy’s, hide such a large sum from the balance sheet? One theory, as the Wall Street Journal reported: “[maybe] the employee was trying to boost the profitability of their department to increase compensation.”
📊 Stat of the Day
🛍️ 59%: The share of Americans that say the ability to spend money on things that make them happy is the most important benchmark of success. The same study found that Millennials view a salary of $180,865 as a success while Gen Z says success is a salary of $587,797.
💰️ Deal Alert: Today’s Top Deals
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🎙️ Podcast
Years ago, TVs were big, bulky and expensive! Technology has come a long way and prices are down, down, down. But before you put a new TV in the cart, Clark has a key piece of advice to help you get the most bang for your buck. Also, Clark strongly believes in the power of treating employees fairly. When employees have some ownership, bottom lines transform!
☎️ 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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