Morning Download 

Personal finance + economics + markets

Together with Incogni

Good morning investors! Things aren’t looking great with the market continuing to go down and cryptocurrencies declining to go up and clouds on the horizon.

🩻 Fun fact: 5% of Americans accounted for half of all U.S. health-care spending in 2017.

Today we cover:

• Women spending more on healthcare than men.

• Nvidia has more competition.

• How to reduce healthcare costs.

Follow us on Twitter for more.

📊 Economy and News 

Working women pay about $15.4 billion more than men in health costs

Recent reports show how high health care costs are hitting women workers more than men.

Working women spend $15.4 billion more than men in out-of-pocket health costs, according to a new research, which found that women typically spend about 18% more than men on co-pays and deductibles.

But why? It boils down to various factors, including utilization.

Women use certain services more than men, including radiology, laboratory, emergency room, and mental health.

What’s the gap? The average female employee paid about 20% more than the average male employe.

This equals to about $266 more per year out-of-pocket. However, the figure excludes pregnancy-related costs, which can average $2,900 out-of-pocket.

Global hits:

• Saudi Arabia announces crucial step forward in its nascent nuclear power plans.

• The Chinese property market will take years to recover, warn experts.

• Guyana is now the world’s fastest growing economy – growing at a rate of 115%.

📈 Stocks

S&P 500 4,273.53 (-1.47%)
DJIA 33,618.88 (-1.14%)
NASDAQ 14,545.83 (-1.51%)
VIX 18.94 (12.07%)
* Prices as of Sep 27th, 12:20 AM UTC

S&P 500 falls to lowest level since June

The stock market fell Tuesday due to growing concerns over the state of the U.S. economy. The latest home sales and consumer confidence reports were not encouraging and the danger of a shutdown is still looming.

The Conference Board’s consumer confidence index fell to 103 in September, down from 108.7 in August. This is lower than the anticipated figure of 105.5. Furthermore, another hike is expected next month and inflation is still stubborn.

Nvidia has more competition

AI chip firm Kneron has successfully raised $49 million as it prepares to rival Nvidia, one of the biggest names in the business.

The US-based semiconductor startup has received tremendous support from investors, including Taiwanese giant Foxconn, which assembles parts for biggies such as Apple and Alltek.

Kneron plans to ship its new neural processing units (NPUs) by the end of the year. The company is yet to share pricing; however, it announced that users saw a 75% drop in operating costs compared to GPU chips.

This puts the company directly against Nvidia, which is one of the biggest GPU manufacturers. However, experts believe Nvidia is presently too big to worry about Kneron or other new players.

Sponsored by Incogni

Every single day, your sensitive information—such as your phone number, e-mail address, date of birth, and social security number—is a lucrative commodity for data brokers who sell it to the highest bidder. Who are these buyers, you may wonder? In the best-case scenario, it's companies aiming to target you with advertisements. In the worst-case scenario, it's malicious scammers and identity thieves.

It's high time you become acquainted with Incogni. This remarkable service diligently scours the internet to erase your personal data, taking the fight directly to the global network of data brokers on your behalf. What sets Incogni apart from other similar services is its unparalleled ability to remove your sensitive information from all types of data brokers, even those vague People Search Sites (ex. Whitepages, FastPeopleSearch or TruePeopleSearch)

By using Incogni, you can actively shield yourself from the perils of identity theft, the annoyance of spam calls, and the unwelcome prospect of health insurers increasing your rates.

As a special offer exclusively for readers of MorningDownload, you can enjoy a 55% discount on Incogni annual plan by using the code "MorningDownload''. Comes with a 30-day money back guarantee.

🔐 Crypto

Bitcoin $26,211.30 (0.01%)
Ethereum $1,592.38 (0.01%)
Total market cap $1.05T (-0.14%)
* Prices as of Sep 27th, 12:20 AM UTC

Here’s what’s happening in the world of digital currencies:

• Taiwan bans unregistered foreign crypto exchanges from operating.

• Ben Armstrong, founder of Bitboy Crypto Channel, released on bail after arrest.

• Chase U.K. will not allow users to make crypto payments due to growing scams.

• Thailand to tax overseas earnings from crypto traders.

• Hong Kong to tighten crypto regulation to prevent fraud.

• Venezuelan authorities find Bitcoin miners in a national jail.

💵 Personal Finance

Do this to reduce healthcare costs

Whether you’re are planning to retire or change how you manage things, it’s important that you take a look at healthcare costs as they amount to about 30% of one's total expenditure.

DON’T avoid going to the doctor to save money.

Instead, do this:

• Ask your doctor if it is possible to choose generic medicines instead of branded drugs. Also, do not be afraid of asking for cheaper alternatives. According to the FDA, generic drugs are just as effective as their branded counterparts. but cost about 85% less.

• Make good use of available benefits and discounts. Some credit cards, for example, offer discounts on medicines and diagnostics. Our top picks include AccessOne Medcard, Wells Fargo Health Advantage® Card, and CareCredit.

• People in the US see doctors less often than those in most other countries. Moreover, some people avoid going to the doctor to save money. However, this is a mistake as not going to a doctor means not getting to know about conditions that might be there . A great way to reduce healthcare cost is to be proactive and go for regular checkups (twice a year if you are healthy and more if you have existing conditions) to ensure there are no issues.

• Get insurance! About 92 percent of the population in the US has healthcare insurance but the number is down in countries like Egypt, India, and the UK. To avoid hassles and financial burden, try to get at least basic insurance that covers medicines and doctor visits.

• Choose clinics over hospitals. Though not always effective, this trick could end up helping you save money since clinics tend to be cheaper than hospitals. However, there’s a downside as they usually come with fewer facilities.

• Double check your bills since about 80% of medical bills have errors. Review invoices and ask for itemized bills as they reduce the risk of errors. These errors cost American families about $500 per year. Being careful ensures you don’t end up wasting money.

• Save for medical emergencies and utilize healthcare savings accounts such as Health Savings Accounts, Medical Savings Accounts, Flexible Spending Arrangements, and Health Reimbursement Arrangements. With these accounts, you'll be able to set aside tax-exempt money for your health care expenses.

Shocker: The US spends more on health care than any other country but still has the 47th lowest life expectancy at birth and the highest rate of people with multiple chronic diseases.

We’d like you to ponder over this and share your feedback with us. Why do you think this happens and what can we do improve the system?

Also, check this video:

💰 Be a Better Investor

👩🏽‍⚖️ Legal Stuff
Nothing in this newsletter is financial advice. Always do your own research and think for yourself.

as they amount to about 30% of one's total expenditure.