7am Saturday is a weekly email I send at 7am every Saturday where I share brief and relevant thoughts on money or investing. Enter your email address below to subscribe:
7am Saturday
June 6, 2020
Good morning!
Welcome to the first weekend in June, my favorite month of the year. Writing may be a bit lighter this month, but as always don’t hesitate to send me a reply or ask your questions if there’s anything I can do to help you!
Big News For Jobs!
On Friday morning, we got the May jobs report. The report beat expectations by a WIDE margin. Going into Friday analysts were expecting that the unemployment rate would rise from the 14.7% level in April and hit 19.0% in May. The actual May unemployment rate DROPPED, coming in at 13.3% as non-farm payroll employment was UP by 2.5 million in May when the expectation was that we’d see a DROP of -7.5 million. This is great news as one of the keys to an economic rebound is getting people back to work.
Tweet Of The Week
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Chart Of The Week
On June 3rd, the S&P 500 completed its best 50-day rally in 75+ years!
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1️⃣ It has been 50 trading days since the S&P 500’s COVID-Crash closing low on March 23rd, and the index is up 39.3% since then.
2️⃣ The 39.3% gain is the strongest 50-day move for the S&P in 75+ years.
3️⃣ Historically, sharp moves higher like this have nearly always been met with further buying over the next one, three, and six months.
Quote Of The Week
Help me spread the word and share this idea with ALL the young people in your life:
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What is one tiny decision you can make today to put yourself on a path to a better financial future? Your financial goals may seem too big to conquer or way out of reach, but the truth is, creating enough wealth so that someday you can retire or make work optional is simpler than it seems.
The first step to reaching your financial goals is to make a DECISION. The decision can be as tiny as saving $25 a week. In one month you will have saved $100. This will be the TINY SEED that will be the BEGINNING of your new SAVINGS HABIT.
The next tiny decision is to make your savings AUTOMATIC. Setup an automatic transfer into an investment account for $100 per month. You are now an INVESTOR!
This is all you have to do to get started. And that’s the most important step. Don’t be overwhelmed by investing! Once you get started you can fine tune your investment plan. You can build on your savings habit in the future as your situation allows. Don’t wait to invest in your future. Plant the seed today!
Weekend Resources
+ Lots of Green Shoots (The Califia Beach Pundit)
+ Busting 6 Financial Myths (The Everyday Advisor)
+ Episode 025: Our Silver Episode (The Invested Dads Podcast)
Have a great weekend and make the most of every moment this summer!
Adam
