Clark Biweekly 4 18 24

Author

Anthony Hazzard
April 18, 2024

Which state economies grew the most in 2023? Find out later in this email.

💵 Today’s Top Stories
Cell phone

You’re sitting at an airport or hotel when you spot a cell phone-charging USB port. Eureka! But the FBI issued a warning against using those due to this nasty scam. Read more.

Home

The harsh truth about home renovations is that you’re not going to recoup your costs. There’s one reason and one reason only to consider doing it, Clark says. Read more.

Roth and traditional IRA

Here’s why almost everyone would do well to convert your traditional IRA into a Roth IRA. And should you consider it even if you’re close to retirement (or already retired)? Read more.

Luggage

Your flight lands and you finally make it to the luggage carousel, only to realize it never showed up. Here’s what to do in that moment of chaos. Read more.

Credit

Clark always preaches how important it is to freeze your credit with Equifax, Experian and TransUnion. But what does he say about the dozens of other bureaus? Read more.

💵 Top 10 States by GDP Growth in 2023

If you subscribe to this email, you probably have some idea of how the overall U.S. economy performs.

But according to data from the Bureau of Economic Analysis, we can evaluate whether business is booming or flatlining in individual states.

As Clark has mentioned on the podcast, America has become the world’s No. 1 producer of crude oil. For most of the states in the top 10 in 2023, oil played a big role, including North Dakota (No. 1) and Texas (No. 2).

Florida, an outlier, grew due to retail trade and the nation’s highest growth rates in personal and property income.

New York, Mississippi and Delaware’s GDP grew at less than 1% last year.

Here are the top 10 states:

1. North Dakota: +5.9%
2. Texas: +5.7%
3. Wyoming: +5.4%
4. Alaska: 5.3%
5. Oklahoma: 5.3%
6. Nebraska: 5.2%
7. Florida: 5.0%
8. Washington: +4.8%
9. West Virginia: +4.7%
10. Kansas: +4.3%

📊 Stat of the Day

🚘️ $283: The average monthly cost to insure a Mercedes Benz. That’s the highest average cost of any “popular” car make, followed by Infiniti ($281) and Tesla ($275). The cheapest is Subaru at $189.

💰️ Deal Alert: Today’s Top Deals
Sam's Club warehouse
Apple AirTags
🎙️ Podcast

The prices of certain Tesla models have gone down, down, down. If you’re interested in an electric vehicle, is now the time to buy? Also, digital wallets like Apple Pay and Google Pay are becoming more and more popular. But there’s a new option from the big banks that Clark says you should ignore at all costs.

☎️ 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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