The ultimate goal for most savers and long-term investors is to achieve financial independence. This involves diligently building up a nest egg, paying off debt, and eventually relying on sources like Social Security payments or other retirement income. However, even couples who have worked together to achieve this milestone can find themselves at odds when it comes to their post-career plans.
Quentin Fottrell, also known as the Moneyist, recently received a dilemma from a couple in this exact situation. While they have been financially responsible throughout their lives, they now differ in their views on how to handle their combined investment portfolio as retirement approaches. The wife wishes to be cautious with their finances, whereas the husband wants to start spending a significant portion of their savings. Each spouse presents valid arguments, but what should they do?
From the Help Me Retire column: Seeking Advice on Retiring at 57
Take the First Step
Reading stories like this one can serve as a motivating factor for both you and your acquaintances to start saving and investing for the long term.
The ‘Magnificent Seven’ stocks may not remain at the top
Even an index that includes hundreds of stocks can be heavily concentrated. Large technology-oriented companies have led this year’s 16% rebound for the S&P 500, following last year’s 18% decline (both with dividends reinvested). But the index is weighted by market capitalization, which means the “Magnificent Seven” make up a significant portion of the SPDR S&P 500 ETF Trust.
The Dominance of the ‘Magnificent Seven’
The current “Magnificent Seven” stocks are Apple Inc., Microsoft Corp., Alphabet Inc., Amazon.com Inc., Nvidia Corp., Tesla Inc., and Meta Platforms Inc. Together, they account for 27.9% of the SPY ETF.
Identifying Potential Future Leaders
In the Need to Know column, there is speculation on which companies might join the ranks of the next Magnificent Seven, based on a Goldman Sachs screen.
Exploring the Stocks
Despite their impressive performance, you may be surprised to learn which one of these stocks is the cheapest, based on a commonly used valuation metric.
Related: Top investment newsletters aren’t bullish on tech, Tesla or Meta Platforms. Here’s what they do like.
A Thrill Ride for EV Makers
The electric-vehicle space has been buzzing with news this week. Here is a breakdown of the coverage based on different topics.
Rising Unit Sales among EV Makers
Legacy automakers are reporting increases in sales, particularly in electric vehicle unit sales for Ford F.
Ford’s U.S. Sales Rise 11% in Latest Quarter
Reaction from Analysts and Investors
- Tesla Deliveries Could Spark Rotation to EV from AI as Stock-Market Investors Chase Rally
- Rivian’s Stock Rises After Upgrade, with Analyst Saying Entry to Europe Is a Welcome Boost
- Rivian Stock’s Biggest Bear Backs Away from Sell Call
- Lucid’s Stock Sets a Record Winning Streak as a Rising EV Tide Helps Investors Shrug Off a Citi Downgrade
In Other News – Mullen Automotive Inc. Delivers Electric Vehicles
Mullen Automotive Inc. has started delivering electric vehicles. Additional developments for the company this week included the announcement of a stock-buyback plan and possible action against naked short sellers.
A Changing Job Market
The Employment Numbers for June
The employment numbers for June, released by the U.S. Bureau of Labor Statistics, showed the lowest level of job creation since late 2020. Despite the Federal Reserve’s efforts to slow economic growth, the demand for labor in the U.S. remains high.
What Does This Mean for Your Career?
If you are considering a career change, these developments in the employment market may have you thinking twice about jumping ship. According to Andrew Keshner, there is an interesting development that you should consider.
Threads and Twitter
Meta rolled out its new Threads service on Wednesday to directly compete with Twitter. Reports suggest that Meta has already signed up 50 million users.
Twitter CEO Linda Yaccarino’s Response
Twitter CEO Linda Yaccarino was quick to respond to the recent developments. In light of the news regarding Meta and its new app, Threads, various reactions have emerged.
Meta in Good Shape, Despite Threads’ Strong Debut
Even without Threads and its impressive debut, experts believe that Meta is still in good shape.
Elon Musk’s Accusations Against Meta
Elon Musk has accused Meta of “cheating” and stealing trade secrets for Threads. His lawyer has been vocal about the alleged wrongdoing.
Pre-existing Social Platform Threatens Legal Action Against Meta
It has come to light that Meta’s Threads bears a striking resemblance to an already existing social platform. Experts suggest that legal action may be taken due to this similarity.
Sustaining Momentum for Meta’s Threads
While Threads has shown significant initial momentum, the challenge lies in sustaining this success in the long run.
Criticism Towards New Social Media Platforms
Critics are not convinced about the need for yet another social-media platform. Some even suggest going back to Myspace instead of embracing newer options like Threads, Twitter, or Truth Social.
Potential Spike in Consumer Spending
Despite a period of high inflation, U.S. shoppers have been cautious with their spending. However, there is optimism about a potential turnaround as major retailers like Amazon, Walmart Inc., and Target Corp. prepare for a flurry of sales events in July.
Unveiling Financial Crime
In his column on Financial Crime, Lukas I. Alpert delves into the audacious story of how an Amazon warehouse manager managed to embezzle $10 million, resulting in a 16-year jail sentence. This raises questions about the security measures and tight accounting controls within companies.
Also read: Silver dealer ordered to pay $146 million in case of 500,000 missing coins
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