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💵 Today’s Top Stories
The Department of Energy says this is one of the fastest ways to cut your energy bills – and it’s easy to do. Want more? Here are 14 ways to cut down your utility bills. Read more.
Clark loves comparison shopping. But even Google Flights aggregates results from obscure third-party agencies (Clark calls them UFOs). Research fares with every good tool, but book them Clark’s way. Read more.
Clark did the math and reveals whether you should follow the avalanche or snowball method. Plus: helpful tips for getting out of debt faster. Read more.
Get unlimited cell phone service for $10 a month for up to six months, $15 a month for up to a year or get 50% off an unlimited plan when you bring your own phone. Read more.
🥇 Gold, Silver Price Drops Serve as a Good Reminder
When an alternative asset or non-stock-market investment is screaming up in value, those preaching prudence can look silly (or at least temporarily wrong).
That is, until it suddenly looks smart.
If you’ve ever fallen into the “trap” of chasing an asset that’s performing really well, you know that sometimes it keeps going, at least for a period. And sometimes there’s a sudden and unexpected reversal.
Friday was one such day for gold and silver. The metals suffered their worst losses in decades (since the 1980s in the case of gold). Silver fell more than 30% at one point and gold fell 10% on the intraday numbers.
Both metals have been on a heck of a run in recent months. But any time you lose 30% of your money in an investment in a single day, it can be disconcerting.
We’ve reminded you of Clark’s advice on investing in gold (and how you should do it if you do). And we’ve expressed his long-time rules about investing in asset classes outside of stocks and bonds. (He’s OK with it if you limit it to 5% of your portfolio and you are otherwise on track with how you invest for retirement.)
Clark likes saying “never, never not ever” on his podcast. But if you listen closely, he rarely makes militant rules or tells you never to do something, especially when it comes to investing.
It’s OK if you want to speculate. Just remember that days like Friday happen – and probably happen more often with alternative assets.
Investing for retirement is about slow, steady longevity of good habits. Putting away a percentage of your pay every paycheck, ideally into a company-matched and tax-advantaged 401(k), and increasing the percentage you save over time. Betting on the entire U.S. economy rather than individual stocks.
“Shortcuts” are fun when they’re working well. But that can end at any moment. So pursue them with both eyes open … and a limited share of your portfolio.
📊 Stat of the Day
🚀 1,000,000: The required deposit … for a hotel stay on the surface of the moon (final cost: more than $10 million). Assuming everything goes to plan, you’ll be able to check in sometime in 2032 of later. But first, you must fork over a $1,000 nonrefundable fee (and potentially additional personal, medical and financial information) for the right to be invited to a private auction.
💰 Deal Alert: Today’s Top Deals
🎙 Podcast
While recent headlines might suggest the dollar is "plunging" as gold and silver prices soar, Wes Moss provides a grounded perspective on why the decline, while significant, is still well within historical ranges, and why he believes our economy is still strong. Also, Wes dives into the top fear facing Americans: the fear of running out of money in retirement. As humans, we are wired to prioritize protection and survival, but letting this fear dictate your financial strategy can be counterproductive. Wes breaks down the research behind this common anxiety and introduces five actionable steps designed to eliminate financial dread and help you regain confidence in your long-term plan.
☎ Need Money Help?
The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.
