Here's Your Fortune: 7 Money Wasters, Mortgages, AI Makes Money, You Make Coffee 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 2,076 words (~4 minutes). Don’t be lazy… let’s get rich!

Cool Fact: AI Dating Coach Goes From Wingman to Wingnut: User Matched with a Vacuum Cleaner. Looking for love in the digital age? One unlucky dater in 2023 found themself matched with... a robotic vacuum cleaner by their AI dating app. The app, misinterpreting user preferences, deemed the person's love for a clean house as a desire for a literal cleaning companion. Talk about a mismatch made in silicon heaven! 🤦🏾‍♂️

Today’s Digest:

1. Stop Wasting Money on These 7 Things: Tune in to discover what you should stop buying to grow your wealth in my latest YouTube video

2. Back to the Future Mortgages: Explore the latest buzz in mortgages and see if it could be the key to your dream home. 🏡

3. AI Gold Rush: Explore Now to discover how AI is revolutionizing industries and generating massive profits. 💰

4. Coffee Cart Cash: Turn your love of coffee into a profitable side hustle. Start brewing! ☕

LATEST YOUTUBE VIDEO!

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 the Stop WASTING your money on these 7 purchases… Watch now to see the spending habits you need to break! 🙅🏾‍♂️

2. Make sure you Subscribe and hit those bell notifications so you never miss a beat 📲

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

4. Like and comment and let me know what you think 🤩

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

6. Check out KENNY FINANCE for other videos

TOP STORY

Mortgages from the Past: The Hot New Trend in Real Estate 🏡

Forget walk-in closets and fancy pools, the real estate market's latest obsession is a blast from the past: the sub-4% mortgage.

Wait, what?

Yes, you read that right. In today's world of sky-high interest rates, savvy homebuyers are turning to a vintage concept called the "assumable mortgage." This means you not only buy the house but also inherit the seller's existing (and much lower) mortgage rate. It's like finding a hidden treasure chest in your grandma's attic.

Sounds too good to be true...

Well, there's a catch (isn't there always?). Assumable mortgages are like rare Pokémon cards – hard to find and even harder to catch. But that hasn't stopped the real estate world from going into a frenzy. New startups are popping up left and right, helping eager buyers track down these elusive deals.

Why all the fuss?

It's all about the dreaded "rate lock." Imagine being handcuffed to your house because you scored an amazing mortgage rate years ago, and now you're terrified to sell and lose that sweet deal. This is the reality for many homeowners, trapped in their "golden handcuffs."

Assumable mortgages to the rescue?

These retro loans could be the key to breaking free from those handcuffs and injecting some life back into the frozen housing market. But don't get too excited just yet. There are some major hurdles to overcome, like hefty down payments and reluctant mortgage servicers.

The bottom line:

While assumable mortgages might not be the magic solution to all our housing woes, they offer a glimmer of hope in a market desperate for change. So, if you're in the market for a new home, keep your eyes peeled for these vintage gems. Who knows, you might just snag a deal that's too good to pass up.

BITS OF GOLD

• Nvidia crushing it, stock splitting for fun

  • Nvidia crushed earnings with supercharged revenue, way above analyst predictions! Their data center business is booming (up a whopping 427%), fueled by the ever-growing world of AI. To celebrate, they're splitting their stock 10-for-1 and giving shareholders a bigger dividend. This hot streak has investors buzzing that Nvidia might join the Dow Jones elite, following the footsteps of Apple and Amazon.

• China roars back with gas-guzzler tax threat

  • European carmakers are having a meltdown faster than a luxury lease ending! China's furious about EU probes into their electric vehicle deals and US tariff hikes, so they're threatening a 25% tax on fancy European gas-guzzlers. This is gonna hurt European brands who rely on China for fat stacks of cash from luxury car sales. Talk about a bumpy road.

• Looks like Modesto's gonna be a little less sweet this summer! 

  • Tropicale Foods, maker of delicious "Mexican-inspired ice cream," is closing its doors, leaving nearly 300 employees in a frosty situation. Don't worry though, the company promises to help them find new jobs (details TBD). Production is moving to Texas and Ontario, California. Meanwhile, Stanislaus County is stepping up to help those who've been scooped out of a job.

• Uh oh, Gundlach says "Uh Oh!" recession incoming

  • Wall Street's "Bond King" Jeffrey Gundlach is predicting a nasty recession, with companies potentially taking a tumble like dominoes. He blames stubborn inflation, rising interest rates, and stressed-out consumers drowning in credit card debt. Even though the Fed might throw us a lifeline with rate cuts, Gundlach fears it'll be too little, too late. Buckle up, this economic rollercoaster might get bumpy.

• Why Gen Z college students are seeking tech and finance jobs

  • Forget fighting climate change, today's elite grads at Harvard and Princeton are all about that corporate grind. Saddled with debt and pressured by their parents, these Gen Z brainiacs are ditching their do-gooder dreams for high-paying finance and consulting gigs.  Looks like saving the world will have to wait - gotta get that 💲 first.

🏠💸TASTE OF THE FUTURE WITH AI

The Rise of the AI Machines (and the Profits They Generate)

Move over Bitcoin bros, there's a new kind of digital gold rush happening, and it involves robot smarts, not magic internet money. At the center of this frenzy is Nvidia, the company that's basically turned fancy graphics cards into AI pickaxes.

Here's the deal: Nvidia's business is exploding faster than a toddler with a handful of Pixy Stix. Their data center sales grew a ridiculous 427% last quarter! Why? Because tech giants like Amazon and Google are lining up to buy Nvidia's AI chips faster than you can say "machine learning."

But Nvidia isn't just selling these fancy pickaxes. They're convincing investors that every $1 spent on a shiny new Nvidia chip can turn into $5 of profit over four years for cloud providers. That's a better return than most dating apps can promise.

This gold rush means big things for AI. Companies like Meta are building giant "AI factories" filled with Nvidia tech, hoping to turn this investment into a goldmine of targeted ads or chatbots that won't tell you dad jokes (looking at you, Clippy).

Demand for Nvidia's AI gear is so high, even Elon Musk's companies are lining up. To keep everyone happy, Nvidia is fast-tracking their next-gen chips. Looks like the future of AI is coming at us faster than a self-driving shopping cart on a sugar rush.

Nvidia's stock price is soaring too, breaking the $1,000 mark for the first time ever. So, while the California Gold Rush might be a thing of the past, the AI gold rush is in full swing, and Nvidia is right in the middle of it, picking away at the future of artificial intelligence. Just remember, the real treasure might not be gold coins, but the perfectly generated meme you'll see online tomorrow.

Other Cool AI News!

• Scarlett Johansson in a voice-over dispute with OpenAI

  • Hollywood actress Scarlett Johansson is locked in a legal battle with OpenAI, claiming they used her voice without permission for their new AI system. The voice, eerily similar to Johansson's character in "Her," was disabled after the actress raised concerns. This incident sparks debates about AI ethics and the ease of creating hyper-realistic synthetic voices.

• Google unveils "Chip," your new AI buddy (or big brother at work?)

  • Google wants you to ditch the new hire and get a virtual coworker instead! This AI teammate, named Chip, can tackle tasks, answer questions, and even follow your group chats...a little too closely perhaps?  While Chip might be a whiz at busywork, some worry it'll turn into the office micromanager we all dread. 

• Zillow says "no way" to bias in AI home buying!

  • House hunting can be tough, but Zillow's here to make it fair!  They launched a free AI tool that sniffs out bias in home searches.  This means no more "accidental" discrimination based on race, religion, or other factors. Zillow's hoping this paves the way for a more level playing field for home buyers.  Discrimination? Not in Zillow's digital world.

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

Brewing Bucks: Your Guide to the Coffee Cart Side Hustle ☕

Ever feel like your brain is running on fumes before that first cup of coffee? Tired of being a slave to the high prices and long lines at fancy coffee shops? Well, my friend, there's a solution that's brewing with possibility: The mighty coffee cart! This isn't your grandma's lemonade stand – it's a mobile mini-cafe with the potential to be a caffeine-fueled cash machine. So, ditch the tired office routine and become your own coffee cart boss, slinging delicious drinks and brewing up your own success story!

Overview of this Side Hustle: Turning your love of coffee into a side hustle might be easier than you think. Coffee carts offer a low-cost entry point into the world of entrepreneurship. Forget the massive overhead costs of a brick-and-mortar shop – with a coffee cart, you'll be your own landlord, setting up shop wherever the caffeine cravings are strongest. From bustling farmer's markets to hungry office complexes, your mobile cafe can cater to the needs of any java junkie.

Startup Cost: Think of it as your beans & bucks investment. This covers your coffee cart (your trusty steed!), brewing equipment, furniture, and supplies. Prices can vary depending on if you want a tricked-out cart or a charmingly basic one. Budget anywhere from "bottomless cup" dreams ($2,000) to a "latte art extravaganza" ($5,000). But hey, even fancy carts are way cheaper than a brick-and-mortar shop.

Capital Intensity: This is basically how much you gotta pay to play upfront. Compared to a full-blown coffee shop, a coffee cart is like a budget-friendly scooter next to a gas-guzzling limousine. No rent, no massive build-out costs – just pure coffee cart freedom.

Interesting Growth Opportunities: The best part? Your coffee cart has wheels! Find your perfect spot at a farmer's market, park it near a bustling office complex, or even crash a fancy wedding (iced lattes for the bridesmaids, anyone?). As your coffee empire expands, you can level up with a fancier cart or even snag a second one to conquer a whole new location. World domination by delicious coffee, anyone?

Earning Potential: Now for the caffeine-coated cash! How much you make depends on your coffee prices, location (think busy streets!), and how many cups you sling. But with some hustle and a prime spot, some carts bring in over $500 a day! That's a pretty sweet return for brewing up happiness, isn't it? Just imagine all the fancy beans you can buy with that kind of dough.

The best part? This isn't just about brewing delicious drinks – it's about brewing your own future. With hard work, a killer location, and a menu that satisfies every taste bud, your coffee cart can be a lucrative side hustle or even the stepping stone to a full-blown coffee empire. So, grab your beans, fire up the espresso machine, and get ready to become the caffeine crusader your city needs! The world awaits its next cup (and your chance to be the one to serve it).

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.