profile

Hi, I'm Jim Wang and I share my strategies and tactics for managing your money and enjoying more out of life.

😓 risk tolerance

Published about 2 months ago • 2 min read

Good day Reader!

The up and down nature of the stock market this past week could give anyone whiplash - fortunately, the moves haven't been so big as to really push people to panic.

But if you have felt uneasy, now is a good time to think about your risk tolerance. I think most people overestimate their tolerance of big market (and thus, portfolio) moves.

If that describes you, now may be a good time to rethink it as the S&P just touched all-time highs.

If you haven't been fazed... that's good.

Just use the volatility as armor for the next time this happens... because it will! (perhaps very soon!)

💲 Best Bank Rates (as of 4/21):

​(View this email as a webpage)​

🔒 ACATS Lock Your Brokerage

When you want to transfer your assets from one brokerage to another, you use ACATS. It stands for Automated Customer Account Transfer Service and it's super old... and somewhat insecure.

A thief with a lot of information may be able to steal money from your brokerage using this system, unless you lock it. Fortunately, locking is free, easy, and a small precaution to prevent this type of theft.

​👉 How to ACATS Lock Your Brokerage Account​

💰 How often do you check your finances?

I check monthly. I update my Net Worth spreadsheet.​

Some people check more often. Some people check less.

But how often should you check?

​👉 How often should you check your finances?​

🗞️ In Case You Missed It

Here are some interesting articles you may have missed:

What did you think of today's email?​
✅ I Loved It! 🟨 It Was Okay ❌ Not My Favorite​

Talk to you soon!

Jim

PS. If you or someone you care about rents and doesn't have renter's insurance, get it! It's cheap and can protect you in a pinch!​

​(see archive of previous emails)​

You signed up for this newsletter via wallethacks.com​

We respect you and your attention. If you no longer wish to get emails from us, you can unsubscribe and we will still be friends.​

If you like sending gifts, we like getting them here - P.O Box 323, Fulton, MD 20759

Hi, I'm Jim Wang and I share my strategies and tactics for managing your money and enjoying more out of life.

💵 Founder of WalletHacks.com

I have been writing about money for nearly 20 years and believe that personal finance is one of those subjects that is made complicated because it benefits a select few. Our aim is to help make it easier to understand so that regular folks can use what we teach to take control of their money and build wealth.

Read more from Hi, I'm Jim Wang and I share my strategies and tactics for managing your money and enjoying more out of life.

Good morning Reader! The stock market has been on a tear recently, with the S&P 500 going up 8% in the month of May which puts it up close to 11% YTD. And that's before SpaceX joins the party! (to which I have mixed feelings) At the risk of sounding like a broken record - remember to stay invested. In related news, I had a reader tell me that he's been aggressively going after bank bonus offers and investing the proceeds (after holding back a bit for taxes). Many banks will give you cash to...

3 days ago • 2 min read

Good morning Reader! The stock market is doing well but regular Americans aren't. The S&P 500 is up nearly 9% year to date but... ... consumer confidence is not good. And as long as the Iran war drags on, the longer oil prices will remain high. And high fuel prices are bad for consumers. I read someone make the claim that for ever week of the Iran war, we'll have a month of high inflation. While the equation is never that simple, we're seeing inflation and it's heavily influenced by higher...

10 days ago • 2 min read

Good morning Reader! If you want to know what interest rates will do and we're far from a Fed meeting, the best place to look is the 10-Year Treasury yield. When there's news (or even just before!), you can see it reflected in the changing yield of the 10 Year. For example, the 10-Year jumped to 4.595% this week on the news of new Fed Chair Kevin Warsh's confirmation and inflation data. When the yield goes up, interest rates go up. When it goes down, interest rates go down. You're probably...

17 days ago • 2 min read