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THE 2024 ECONOMY:
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Studies show that the Average American is absolutely horrible at investing. In fact, the typical return that most people achieve is just barely higher than the rate of inflation. The reason for this is simple: “Investors consistently bought holdings that were overvalued and sold holdings that were undervalued.”
For context, it was found that – in the first year, you have a 73% chance of being profitable, which increases to 80% in the second year, 90% in the fifth year, and, 97% in the 10th year – basically implying that the longer you stay invested throughout a diversified index, the more likely you are to come out ahead.
THE HOUSING sector –
It’s said that “More inventory will be generally offset by more buyers in the sector. As a result, it is expected that, overall, the median home price in the U.S. will grow modestly, rising to $394,200 for 2024, a 1.5% increase over 2023.”
On the other hand, Redfin believes that 2024 will see a median price drop of 1%, Zillow thinks we’ll see a drop of 0.2%, Morgan Stanley anticipates a price drop of 3%, and JP Morgan believes that affordability could be resolved by the time 2027 comes around.
For the rest of the year, my entire 2024 investing blueprint is really simple:
First: Go through my costs and reduce any unnecessary spending.
Second: Invest consistently on a regular basis.
Third: Buy and hold for the next 20 years
Fourth: Continue buying Index Funds – 80% United States, 20% International
Fifth: Save cash on the sidelines for a potential real estate opportunity
And Sixth: Allocate 5% to speculative investments.
Separately, new revisions also show that American’s “Excess Savings” is way higher than expected, leading to the notion that there’s still plenty of dry powder on the sidelines, ready to buy in – IF the sector were to drop.
Hope this helps! Are you reading this? If so, feel free to comment “I’m reading this” and I’ll do my best to reply!
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