Clark Biweekly 9 5 24

Author

Anthony Hazzard
September 05, 2024

What should you do before the Fed cuts arrive? Find out more later in this email.

💵 Today’s Top Stories
Social Security cash money

Clark views Social Security as an insurance policy against longevity. How long do you have to live for Clark’s Social Security advice to pay off? Read more.

Remote Work

We’ve identified remote jobs that don’t require a degree and pay well – including one position that allows you to earn nearly $75,000 per year. Read more.

Library card

Your local library’s resources extend far beyond books. See some of the wide-ranging things you can borrow right in your community. Read more.

Credit Card

J.D. Power named this popular credit card issuer as America’s favorite for a fifth consecutive year. Two Clark-approved companies scored even higher but didn’t qualify. Read more.

Stock market

This modern dynamic makes it so much easier for retail investors to buy expensive stocks. Here’s how it works – and the best investment companies that offer it. Read more.

📣 Today’s Top News
💵 What To Do Before Fed Rate Cuts Arrive

It’s a near-certainty that the Federal Reserve will cut interest rates on Sept. 18. The current rate is 5.25 to 5.50%.

There’s even a chance the Fed cuts rates by a half percent. Regardless, the direction for the near and intermediate future seems clear.

The Fed meets again and could announce further cuts on Nov. 7, Dec. 18, Feb. 1 and March 22 (for starters).

How much the Fed cuts, and how fast, remains to be seen. But cuts are coming. So is there anything you can or should do financially?

  • Money market funds are generally paying 5% and have become extremely popular. Expect those rates to fall and plan accordingly.

  • You’ve missed the peak to lock in long-term CD rates. But now is almost certainly a better time to do so than you’ll see in 2025.

  • Consider shifting to longer-term bonds.

ABC News reminded people better rates probably are coming for home and auto loans. But don’t expect things to change fast.

“Your credit card bill is not going to plunge the day after the next Fed meeting,” LendingTree’s Matt Schultz told ABC. “Nobody should expect miracles.”

📊 Stat of the Day

💸 25%: The average salary premium a PwC projects that AI-related roles will command in the United States. According to the study, AI specialists will outearn their peers by varying amounts: database designers and administrators (+53%), lawyers (+49%), sales and marketing managers (+43%) and financial analysts (+33%) will be among the biggest winners.

💰️ Deal Alert: Today’s Top Deals
Walmart
Amazon logo on tablet
🎙️ Podcast

On a recent podcast, Clark discussed how many Americans are struggling to pay their bills. There’s a new trend on social media that Clark actually likes – and it’s a great message to help us ditch a paycheck-to-paycheck lifestyle! Also, Clark has mentioned that our economy is running in a slower gear. But not everything is doom and gloom. Clark explains why gas prices will start to drop soon.

☎️ 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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