A Few Money
Hello everyone and Happy Easter,
The S&P 500 has rallied nicely. Look for this rally to continue and extend onto the 4270-4325 resistance area over the next few days. Once this resistance area is cleared the bullish rally can extend toward the 4,500-level area.
Gold has had a great move lately. We are on the way to the $2300 area, but it could be a bumpy ride up to this area, so if we get reactions back to the $1890-$1850 area, do NOT SELL. Just add more small positions.
Bitcoin may be in the early stages of another bull market. Around the $35,000 area is an initial target, with much higher targets long term. Bitcoin is not for the faint-hearted. Expect volatility to be part and parcel of being in the crypto sector.
The US$ is having a small rally before another move down. Buy the Euro, Pound, Aussie, and Yen on this pullback.
Money Myths
Giving up your daily coffee is a financial game changer.
Going through your entire life without some small joys seems a bit extreme. Your budget should have discretionary expenses incorporated. Be disciplined but not too extreme. Housing and transportation change outcomes, but not your cup of coffee.
You don’t need emergency savings.
Yes, you do.
This fund should be a safety net, which should only be used during emergencies. For example, like paying a car payment or mortgage if you’re laid off.
These accounts should not be considered a nest egg or part of a long-term savings plan for a car or a vacation or college tuition.
You must monitor the stock market daily.
No, you don’t need to do that. Unless you are a day trader.
Successful investing is boring. Make goals, set a plan, build a portfolio, and then focus on something else. If you micromanage and focus on the movements of the market daily, you may make moves you will later regret.
Wishing you all a great week and a happy and safe Easter.
Cheers,
Jacque
