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- Clark says traditional 401(k)s, IRAs will disappear (3 18 24)
Clark says traditional 401(k)s, IRAs will disappear (3 18 24)
Today’s Sponsor
Has inflation put the Costco $1.50 hot dog combo in jeopardy? Find out later in this email…
💵 Today’s Top Stories
 | Clark thinks it’s fairly certain that these long-time retirement vehicles will go extinct. Here’s why, and when it may happen. Read more. |
 | The average price of a new vehicle is down 2.4% from the all-time high. Here’s a chart breaking down the average cost for every vehicle category. Read more. |
Sponsor | Exact same coverage, up to half the cost. |
 | A standard Netflix plan with no ads is $185.88 a year for a single member. The price of Tubi? Free. You may find you love a lot of the content as well. Read more. |
 | Team Clark got price quotes from companies that buy used cell phones. Then we researched and ranked them. Read more. |
🏠️ Today’s Current Mortgage Rates
According to Freddie Mac, 30-year mortgage rates are 6.74% and 15-year rates are 6.16% as of March 14, 2024. The following chart shows the 30-year mortgage rate trend over the last year.
🌭 Has Inflation Put the Costco $1.50 Hot Dog Combo in Jeopardy?
The Costco hot dog combo is one of the few constants of the last four decades.
No matter what else was happening in the world, you could always get a hot dog and soda for $1.50.
Jim Sinegal, a Costco co-founder and former CEO, is 88 years old and still alive. In 2009, he told The Seattle Times that if the price ever goes up, it means “that I’m dead.”
Sinegal later told then-CEO W. Craig Jelinek that he’d murder him if he raised the price of the combo (and it wasn’t clear that he was joking).
The company has made some clever strategic moves to maintain the price. But departing Costco CFO Richard Galanti, leaving his post after decades, gave an eye-popping update last week.
The deal “is probably safe for a while,” Galanti told Bloomberg. In September 2022, three months after peak inflation in the United States, he referenced a move that would help “hold the price on the hot dog and the soda a little longer, forever.”
So it’s gone from “when I’m dead” to “a little longer, forever” to “probably safe for a while.”
Costco also added a $6.99 turkey sandwich and replaced the churro with a chocolate chip cookie.
📊 Stat of the Day
🍎 800: New locations that ALDI plans to open in the United States within the next five years. The $9 billion expansion includes converting some Winn-Dixie and Harveys Supermarkets stores, which ALDI acquired.
💰️ Deal Alert: Today’s Top Deals
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🎙️ Podcast
It’s time for "Clark Stinks!" Christa reads the latest "Clark Stinks!" submissions and Clark responds. Also, if you’re looking for a credit card, many websites may ignore lower interest rate options. Clark shares everything you need to know to find the best card for your wallet.
☎️ 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.
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