š± iPhone 15 announced, Apple down
and financial tips for adults
Morning Download
September 13, 2023
Morning DownloadĀ
Personal finance + economics + markets
Good morning, investors! If you are an Apple fan then weāve got you covered with the new product announcements today, plus some great finance tips.
Fun fact: Apple originally had three co-founders, including Ronald Wayne, who left the company only 12 days after it was founded. He sold his 10% share for only $800, but if he had stayed, his shares would be worth around $60 billion today. Oops! šĀ
Today we cover:
Americans arenāt getting richer
The new iPhone
Financial tips for young adults
š Audio version: Apple Podcasts | Spotify | YouTube
šĀ Economy and NewsĀ
Americans continue to get poorer
Look at your income. Has it gone up? Youāre lucky if it has because the US household income fell in 2022 for the third straight year.
How much? Real median household income fell by 2.3% to $74,580 in 2022, down from $76,330 in 2021.
Are we poor now? Yes, especially because inflation in the same period rose 7.8%, which is the largest annual increase since 1981.
So Americans are down 10.1%! Even worse, some economists have estimated Americans are down 19% as incomes dropped and the cost of most goods, like food, have increase in price by 16% since last year.
But thatās not what the report says: Despite these changes, the official poverty rate did not change much and hovered around 11.5%.
Despite the fall, the US is still the country with the highest income per capita standing at $62,334.17 (disposable income).
Global hits:
Moscow says it doesnāt care about the US as it welcomes North Koreaās Kim.
IEA chief expects demand for coal, gas, and oil to peak by 2030.
China rejects Western concerns, adds the economy is resilient.
šĀ Stocks
S&P 500 4,461.90 (-0.57%)
DJIA 34,645.99 (-0.051%)
NASDAQ 15,289.74 (-1.111%)
VIX 14.22 (3.04%)
* Prices as of Sep 13th, 12:20 AM UTC
Apple has entered the game
Apple has announced the latest iPhones; hereās all we know about the upcoming product:
The iPhone 15 will start as low as $799 and the iPhone 15 Plus will start from $899.
Apple iPhone 15 can call roadside assistance via satellite.
iPhone 15 Pro will ship with a titanium case, the ālightestā and āthinnest bordersā on an iPhone ever.
iPhone 15 Pro will come in three colors: silver, black, and blue.
The new iPhone will feature USB C charging.
In addition, the company has announced several other new products, including Apple Watch Ultra 2 priced at $799. Buyers will be able to get their hands on these products from September 20th.
However, despite the announcement, Apple fell 1.71% during the day to close at $176.30.
šĀ Crypto
Bitcoin $26,070 (3.04%)
Ethereum $1,598.44 (3.14%)
Total market cap $1.04T (3.24%)
* Prices as of Sep 13th, 12:20 AM UTC
Hereās whatās happening in the crypto world:
Standard Chartered-owned crypto firm Zodia has entered the Singaporean market.
Bitcoin is facing stiff resistance and struggling to break the $27K mark, but had a great day yesterday.
Franklin Templeton is the latest brokerage to file for a spot Bitcoin ETF.
šµĀ Personal Finance
Remember these tips for a secure financial life
Use cash, not credit
The world is changing and weāre now more dependent than ever on plastic money but this has to change. You can control cash but you canāt always control cards, so grow the habit of using cash over cards.
Use cards when beneficial, i.e.: getting points or discounts but make sure to pay on time and pick debit cards over credit cards.
Educate yourself
Make it a point to learn about personal finance and money.
Youāre reading this newsletter? Great.
You wanna check podcasts? Even better.
Attending a seminar? Thatās awesome.
Considering an online finance course? Fantastic!
All these are ways to expand your knowledge and learn to manage money.
Thereās always something new to learn. Things are changing. We didnāt have cryptocurrencies yesterday, but now we do. We donāt have BTC ETFs today, tomorrow we may.
So stay ahead of the crowd.
Get educated but without loans
Stay away from all kinds of loans, including credit card loans, student loans, and more. A house loan, however, might be a good option but only if you plan it right.
With proper planning, a house mortgage can be very beneficial, i..e: you might end up with a house of your own without any financial burden.
But, no matter what kind of loan you apply for, only choose if you are sure you will be able to pay it back in a timely manner.
Donāt make the mistake of ruining your credit score as it can spoil your financial standing.
Budget and stick to it
Once you have gone through some personal finance guides or videos, sit down and create a budget. These days, it's easier than ever thanks to budgeting apps like Mint and YNAB.
These apps come with both paid and free features and can make your life easier. They allow users to perform a variety of tasks such as setting financial goals, managing investments, categorizing spending, and more.
Those who do not want to use an app can stick to the traditional method or use tools like Excel and Microsoft Word.
Save and make money
The only way to grow wealth is to save what you make and earn more. Hereās what you need to do
Find a better job and donāt be afraid of asking for a raise. If you think you deserve it then you probably do.
Look for side gigs. Freelancing can be a great way to earn money with many freelancers making over $50 per hour.
Start an emergency fund and use it only for emergencies. Also, try to keep at least 6x of your monthly expenses in your emergency funds.
Donāt be afraid of trying new ways to earn and save money. For example, you can automative savings, invest in stocks, etc.
Itās never too early to save for retirement so start today with your retirement savings plan.
Understand taxes and insurance
Taxes and insurance are two very complicated areas. However, itās important that you understand each to be able to save money and stay away from legal issues.
Pay taxes but be smart. Know how you can save tax money. There are tax incentives and rebates that can reduce your tax burden. Similarly, go for insurance as it can protect you in case of a mishap.
This is important even when insurance is not mandatory.
Now that you know what to do to manage money, we suggest you watch this video to know what not to do:
š° Be a Better Investor
āInvesting is the intersection of economics and psychology.ā
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Nothing in this newsletter is financial advice. Always do your own research and think for yourself.