👶 Should parents help their kids financially?


Good morning Reader!

Last night, we had an almost full load to run the dishwasher and so I threw a pot in.

I looked at my wife and said "we made it!" 😂

It sounds silly but growing up, our dishwasher was mostly a drying rack. We'd rarely run it.

In my mind, sticking in a massive pot seemed decadent.

What was something from your childhood that seemed only for the wealthy that you now realize is fairly normal?


(View this email as a webpage)

👶 Should parents help their kids financially?

A Redditor learned that his parents had millions of dollars and he was furious. He was struggling, in credit card debt, and was very angry his parents were sitting on a mountain of gold.

Think he deserves to be angry?

I'd love to hear your thoughts (as a comment on the post if possible, or reply to this email if it's easier for you):

👉 How much should we help our kids financially?

📅 Year end tax moves

It's almost November and you'll start seeing a bunch of "year end tax moves" posts, but here's an early one to help you prepare before the holiday rush:

👉 Year End Tax Moves You Must Be Doing

🐄 Why is milk white but cheese is yellow?

Isn't that strange?

Vox did a short 6-minute video explainer that's fun to watch.

👉 The real reason cheese is yellow

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

Take care!

Jim

PS. We're seeing CD rates slip lower and lower, now it's rare to see one above 5%. CD Valet has a few from smaller credit unions but the bulk are under 5% now. You can review the best rates here.

(see our 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.

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! It might not seem like it but the stock market is doing quite well. The S&P 500, Nasdaq 100, and Russell 2000 closed at all time highs yesterday. The Iran war's ceasefire is still holding on, despite fighting yesterday, and oil prices are falling (down 15% the last 5 days). Hopefully this signals the true end of this conflict. Thankfully, I've done nothing with my investments. I learned from my biggest investing mistake during the pandemic and remembered to bury my time...

Good day Reader! The Federal Reserve meets this week and everyone expects them to keep rates unchanged. The Iran war lingers on, only a few tankers are making it through Hormuz each day, oil prices remain elevated, and that has kept inflation up... which means likely no change for the Fed rates. But Beth Hammack, president of the Federal Reserve Bank of Cleveland, said that inflation might force the Fed to raise rates! (might be a good time to check if you can get a better rate from Credible)...

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...