Here's Your Fortune: Car Affordability, Holiday Spending, Robots Take Over and Turn Trash to Cash

Tomorrow’s Fortune

Welcome to the action-packed newsletter designed to help you navigate the world of business, investing, and technology. You owe it to yourself to stay informed! If you missed last week’s post, check it out here. 😎 

Today’s post is 2,1988 words (~5 minutes). Don’t be lazy… let’s get rich!

Cool Fact: Apple Stock for Lunch: In 1976, Ronald Wayne, Apple's third co-founder, sold his 10% stake for $800 to avoid risk. Today, his slice would be worth over $200 billion… enough to buy lunch every day, forever. Talk about an expensive meal!

Today’s Digest: 

1. NEW VIDEO 👉🏼 🚀  How Much Car Can You Really Afford? (20/4/10 Rule) 🚗💰

2. Why 2024 Holiday Spending Could Hit New Highs! Get the lowdown on where Americans are spending big this season.

3. AI and Robots Steal the Show at Gitex Global. Discover how Gitex is driving global digital transformation.

4. Bin There, Done That: Your Path to a Profitable Side Hustle. Dive into the trash bin cleaning hustle and start earning now.

KENNY FINANCE ON YOUTUBE!

Back again with a Friday special on YouTube! As I said before, my goal is to touch a million lives through financial wellness and provide the framework, insights, and playbook to be SMART with your money.

Few things:

1. Check out tonight’s video on How Much Car Can You Really Afford? (20/4/10 Rule) 🚗💰

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3. WATCH THE ENTIRE VIDEO! Pls and thank you… it helps the YT algorithm spread to others who could use the advice

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5. I’ll be uploading fire content every Friday until you’re rich

6. Check out KENNY FINANCE for other videos

TOP STORY

How Much Are Americans Spending This Holiday Season? Let’s Break It Down!

The holidays are upon us, and Americans are ready to splurge—despite economic grumbles. According to a BofA Securities forecast, U.S. shoppers are set to spend 7% more this year, with the average holiday budget hitting nearly $2,100. Why? Real wage growth is outpacing inflation, giving consumers more breathing room (and an excuse to treat themselves!).

Even Deloitte’s forecast predicts a spending surge, with shoppers dropping cash on experiences, home decor, and party looks. Their average spend is expected to be $1,778, up 8% from last year. But don’t worry—six in ten shoppers still plan to hunt for bargains at outlet malls and big-box retailers.

Younger shoppers (aged 18 to 24) are hitting up thrift stores and resale shops, embracing refurbished gifts for a mix of savings and sustainability. According to Phil Rist of Prosper, secondhand shopping is totally in for this crowd.

When are people shopping? 

Retailers are pushing holiday deals earlier than ever, with nearly half of shoppers getting started by Black Friday—or sooner. The mad dash is on, and only 8% of us are waiting until the last minute. (We salute you, procrastinators!)

Resolution

So, whether it’s early shopping or secondhand finds, Americans are ready to spend and celebrate, proving that even with a shorter holiday window, the season will be anything but small.

BITS OF GOLD

• IMF says inflation is cooling off, but don’t celebrate just yet!

• The IMF has declared that inflation is finally backing off—mostly. Global inflation is slowing, expected to hit 5.8% this year and 3.5% by 2025, which is good news for your wallet! But not so fast—services are still way overpriced, and a few countries are back to raising interest rates. While Europe and China aren't exactly thriving, the U.S. is seeing some solid growth. So, it’s not time for a victory parade just yet, but we’re getting there.

• McDonald's stock tumbles after E. coli outbreak linked to Quarter Pounders

• Looks like McDonald's Quarter Pounders are making headlines for all the wrong reasons—E. coli is on the loose! Stock tanked 5% as fresh beef patties and slivered onions got the boot in some states. One death, 10 hospitalizations, and now, McDonald's is scrambling to control the damage. Let’s just hope this doesn’t turn into a Chipotle-sized disaster.

• Social Security benefits just got harder to qualify for

• So, you thought Social Security would be a breeze, huh? Well, not so fast! Starting in 2025, it's going to be a bit trickier to rack up those 40 work credits you need. Thanks to rising credit values, part-time workers will have to hustle harder to qualify. Time to start working those extra shifts—or find a rich spouse.

🏠💸TASTE OF THE FUTURE WITH AI

Robots, AI, and innovation galore at the world’s largest tech event!

Hold onto your circuits, tech lovers! AI and robots have taken over Gitex Global, the world’s largest tech carnival in dazzling Dubai! Hot on the heels of “AI” being named Collins Dictionary’s word of the year, the buzz around artificial intelligence is louder than ever.

A Tech Wonderland

This year’s Gitex was a tech lover’s dream, featuring over 6,500 exhibitors and 1,800 startups from around the globe. The excitement was palpable as companies showcased how they’re leveraging AI to transform industries, especially those often overlooked, like healthcare. Trixie LohMirmand, the brains behind the event, highlighted how thrilling it was to see AI and deep tech taking center stage, hinting at a major shift in our digital landscape.

AI: The Game-Changer

Patrick Dennis, CEO of Avaya, declared AI a revolutionary force that could pump up global GDP like it’s the industrial revolution all over again. Picture this: businesses snatching market share from competitors and creating whole new markets. The energy at Gitex was electric as attendees from 180 countries mingled and sparked ideas, making it clear that the tech revolution is a global affair.

Innovations That Wow

Among the standout innovations was Xpanceo’s jaw-dropping smart contact lenses, designed to deliver augmented reality while sipping just 1 to 3 microwatts of power—300 times less than regular AR glasses!

And let’s give a round of applause to Maha, the adorable Emirati humanoid robot teacher, proving that the classroom of the future is here, and it’s not just about books. Plus, Mand.ro showcased a super affordable robotic prosthetic hand starting at just $1,000. Now that’s what we call making tech accessible!

A Global Vision

Gitex isn’t stopping here! Next year, it’s heading to Nigeria, which LohMirmand predicts will be an “AI superpower.” This is exciting news, showing that the tech revolution isn’t just for the big players—emerging nations are eager to jump on the digital transformation train.

Conclusion

As Gitex Global wraps up, it’s clear that AI and robotics are more than just trends; they’re paving the way for a thrilling future. The connections made and innovations unveiled promise to reshape our daily lives. So, whether you're a tech guru or just curious about what’s next, Gitex is the place to be. Buckle up, because the future is bright, and it’s only getting started!

Other Cool AI News!

• Call centers in danger?

• In a plot twist that would make even David Letterman chuckle, banks are diving headfirst into AI technology to assess home loans and replace call center workers. Commonwealth Bank’s CEO, Matt Comyn, suggests we’re in an AI moment reminiscent of the early internet days—full of potential but requiring a good bit of caution. With chatbots ready to revolutionize the industry, experts are predicting a shake-up, with thousands of jobs potentially at stake. However, don't worry; the robots still need humans to make the big decisions, so you're safe... for now!

• AI is shaking up the security game, and not in a good way

• According to Vanta's latest report, a whopping 55% of companies are sweating bullets over rising security risks, with AI playing the villain. Vanta, the compliance guru, is here to save the day (or at least your data) with its SOC 2 humor and AI wizardry. Turns out, while tech is speeding things up, it’s also opening a Pandora's box of phishing and malware mayhem. So, if you thought compliance was a snooze fest, just wait until you see what AI brings to the party.

• Looks like the AI apocalypse we’ve all been fearing might just be a tad exaggerated

• According to MIT’s Daron Acemoglu, only 5% of jobs are set to be replaced or assisted by AI in the next decade—leaving plenty of room for humans to keep floundering in their jobs. With major companies like Microsoft and Amazon splurging over $50 billion on AI, Acemoglu warns of an "AI winter" that could leave stocks shivering in the cold. So while we’re not quite ready to hand over the keys to the robots just yet, those corporate budgets might be about to take a nosedive.

WHAT ABOUT TODAY’S FORTUNE? SIDE HUSTLE OF THE WEEK 💸

Trash Talk: Turning Dirty Bins into Dollars

Ever thought about turning your love for cleaning into a side hustle? Well, get ready to dive into the surprisingly lucrative world of trash bin cleaning! Yes, you heard that right—cleaning garbage bins can bring in some cash while you save your neighbors from their smelly secrets. Let’s break down how you can make this trashy gig your new favorite money-making adventure.

Overview of this Side Hustle: Welcome to the wild and wacky world of trash bin cleaning! Your job? Turning those grimy garbage bins into sparkling, fresh-smelling treasures. It’s like being a superhero, but instead of a cape, you’ve got gloves and a pressure washer! You’ll be providing a much-needed service to your community, and trust me, they’ll thank you for it (or at least their noses will).

Startup Cost: Thinking of diving into this? You don’t need a treasure chest to get started! For about $500 to $2,500, you can grab your equipment, which includes a high-pressure washer, biodegradable soap (because Mother Earth deserves some love too), and maybe some snazzy gloves. Best part? You can kick off this gig right from your garage—no need for fancy offices or big loans.

Capital Intensity: This side hustle is super easy on the wallet! With low startup costs and minimal overhead, you won’t have to worry about going broke. Most of your cash will go toward cleaning supplies and a little marketing to get the word out. Think of it as being smart with your bucks—frugal, but still fabulous.

Interesting Growth Opportunities: The fun doesn’t stop at just cleaning bins! You can easily branch out into other services, like lawn care or pressure washing—talk about turning your trash biz into a full-blown cleaning empire! Plus, offering subscription services for regular cleanings is a no-brainer; who doesn’t love the idea of their bins being magically cleaned without lifting a finger? Get ready to watch your hustle grow.

Earning Potential: Now, let’s talk cash. You can rake in anywhere from $25 to $100 per cleaning, depending on where you’re at and how much you want to charge. And if you add on extras like deodorizing or pest control, those dollar signs could really add up! Just think about it—a few cleanings a week, and you could be making a couple hundred bucks without breaking a sweat. Who knew cleaning trash could be so rewarding?

So, there you have it! The trash bin cleaning hustle is not just a quirky way to earn some extra cash; it’s a chance to make your neighborhood a cleaner place while you’re at it. Whether you’re just looking to fund your coffee cravings or dreaming of a full-fledged biz, this side gig might just be your golden ticket. Now go on, grab your pressure washer, and get ready to make some money—because in this game, the only thing that should stink is the trash.

This newsletter is for informational purposes only and does not constitute investment advice. The content is based on publicly available information, and the author makes no representations about its accuracy or completeness. Readers should conduct their own research before making any investment decisions.