Consumers have been sitting at home for months and months, and without typical things to spend money on, assets in bank accounts are growing. And that is a positive sign for stocks, according to Social Capital CEO Chamath Palihapitiya.
He said the combination of consumers' savings and cash in money markets jumping to an all-time high will act as "rocket fuel" for assets.
"Whether those are housing markets, or whether those are capital purchases like cars or vacations, or stocks in this case — if we're still under a lockdown, these things are just going to go to the moon for awhile," he said Thursday on CNBC's "Halftime Report."
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What To Do with No Money and Bad Credit
Jim Droske has a nearly perfect credit score of 839 from Experian using the FICO 9 scoring model. He had hit the ultimate 850 mark in early 2020, but his score has since dropped after two inquiries showed up on his credit report for a mortgage refinance.
Regardless, Droske has today what lenders consider an excellent credit score . However, he knows that he didn't get there over night. Today, Droske's work entails helping people build credit as president of Illinois Credit Services , a credit counseling company.
'I Actually Saved Money in 2020. What Should I Do With It?'
This is all good news, but I understand why you're conflicted. It's a weird time to have more money than ever before. You've probably heard the pandemic economy described as K-shaped : Roughly half of Americans are in dire financial straits (the bottom prong of the "K"), while many others are actually doing quite well (the top prong) for the reasons you described. Obviously, it's preferable to be in your camp.
To figure out your best path forward, I called Shannon McClay, a financial advisor and the CEO of the Financial Gym , a membership-based financial-services firm. "A lot of our clients are in the same position — they have a lot of savings from the past year, but they aren't sure what to do with it," she said. "The bigger question is, What are you saving for ? You want to define those goals. If you're just trying to save money generally, it's hard to stay committed in the long-term."
34 Savings and Money-Making Tips for Moms
Cooking a family dinner at the end of the day can be stressful, but a well-stocked pantry can make this task easier, healthier and more affordable. So just what is a "well stocked pantry"?
And if you don't end up using them, "you can simply donate the hand-me-downs you don't want," McDaniel said.
"Make it fun and educational," Phillips said. "Your kids will get instant playmates, you will earn considerable money and you will get experience being in business for yourself. … It is hard work, but very rewarding."
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Short guys need more money to be as attractive as tall guys
Researchers at the University of Chicago and M.I.T. went through a bunch of online dating stats where the average guy was 5-foot-11-and-a-half, and made $63,000 a year. Here's how much shorter guys have to make to be equally attractive . . .
* * *
That's just under $28,000 per inch. And they also found that really tall men can earn even LESS and still be attractive.
Men who are 6-foot-2 can make as little as $33,000 a year. At 6-foot-4, just $12,000. And at 6-foot-6 or above, you can potentially be UNEMPLOYED and still be a catch.
Here's How Much Money Is At Stake In A Kim Kardashian-Kanye West Divorce
Kim Kardashian and Kanye West attending the Vanity Fair Oscar Party held at the Wallis Annenberg ... [+] Center for the Performing Arts in Beverly Hills, Los Angeles, California, USA. (Photo by Ian West/PA Images via Getty Images)
After months of rumors that their relationship is on the rocks, speculation has heated up this week that one of the world's most famous—and richest—couples, Kim Kardashian West and Kanye West, may be headed for divorce. With a combined net worth of $2.1 billion there's plenty of wealth to haggle over, but how much will really be in play if they split?
4 ways investors cost themselves money in the long run - Business Insider
There are ups and downs in the market, and there can be a lot of emotions involved, too. While growing money is the goal, investors sometimes stand in their own way.
"Many individual investors are mistakenly convinced that they can beat the market," Malkiel writes. That's an unrealistic expectation.
Rosenberg reports that about 88% of actively-managed funds didn't beat their benchmark, which can make it difficult to reach long-term financial goals. Malkiel writes that overestimating ability can lead investors to "speculate more than they should and trade too much."
Happening on Twitter
Chamath Palihapitiya says he sees bitcoin going to $200K down the road. "I really believe in the business. It's an… https://t.co/TP776NGZyz CNBC (from Englewood Cliffs, NJ) Thu Jan 07 18:23:20 +0000 2021
Early Facebook exec Chamath Palihapitiya says Facebook could have fixed its product years ago https://t.co/a4L7JNRaZt CNBC (from Englewood Cliffs, NJ) Thu Jan 07 18:03:35 +0000 2021
CNBC: Chamath Palihapitiya says sees bitcoin hitting $200,000 down the road joshdcaplan Thu Jan 07 18:25:09 +0000 2021
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