Weekly Big Updates On Markets & Trending Insights #7 By OPM Capital

Market Update End of Week:

3 Critical Events To Watch As They Influence Markets And Your Money

1 - Crypto Rally Crashes Coinbase 👀

If you opened Coinbase Wednesday night and saw a $0 balance, you weren't the only one.⁠

This week, Bitcoin led the charge, and Coinbase... well, took a bit of a nosedive.

First off, Bitcoin's been partying like it's 2021, with ETF issuers scooping up BTC like there's no tomorrow. We're talking 10x more Bitcoin than what those hardworking miners can get their hands on.

As of Friday afternoon, Bitcoin is trading at ~$62,000. That’s up 20% in a week and 45% in a month. (Nvidia, who?!) Part of this demand is thanks to institutional investors beginning to allocate a small percentage of their funds to Bitcoin.

Part of this demand is thanks to institutional investors beginning to allocate a small percentage of their funds to Bitcoin.

Fidelity Investments goes a step further, suggesting that investors devote 1% to 3% of their portfolios to crypto. With $12.6 trillion in assets today, that recommendation has the power to generate demand of 2 million Bitcoin at today’s prices.

In conclusion: Coinbase reassured everyone that their assets were safe, blaming the chaos on a massive spike in traffic. Meanwhile, Bitcoin did a dramatic dip and then bounced back, because what's a day in crypto without a little heart-stopping action?

2 - 20% More 401(k) Millionaires 📈

Ever thought that hitting the millionaire mark with your 401(k) was a pipe dream? Well, the latest scoop from Fidelity might just change your mind.

Last year, the ranks of 401(k) millionaires grew by 20% in a single quarter.

Consistent saving isn't just smart, it's millionaire-making! 💼💵 

Let's dive into the digits. The average 401(k) balance soared to $118,600 by the end of the fourth quarter, up 14% for the year.

But here's where it gets really interesting – Gen Xers who've been contributing for 15 straight years have an average balance of more than $500,000. That puts this entire cohort of 44 to 59-year-old savers on track for a comfortable retirement.

The younger crowd is making waves too. Gen Z opened 50% more Roth IRA accounts in 2023, and increased their contributions.

What's the secret?

Well, it's not so secret after all. It’s clear that a seven-figure net worth is within reach for those who:

• Make steady contributions

• Participate in market growth (i.e. own stocks)

• Live on less than 35% of their income

With an average total savings rate of ~14%, reaching millionaire status is less about catching a lucky break and more about consistent effort over time. So, if you've been on the fence about ramping up your 401(k) contributions, consider this your sign.

And if you're not already contributing, it's never too late to start. Your future self will thank you! 🙌 LITERALLY START SAVING AND INVESTING!!!

3 - Food Costs Keep Rising 🤨

Have you noticed your grocery bill creeping up month after month? Well, you're not alone.

With Americans now dedicating 11.3% of our disposable income to food, the highest since the early '90s, it's clear we're all in the same boat – and just trying not to sink.

@thegarybird

How Much Were Groceries in 2019? How much has pricing at Whole Foods changed over the years? I got a lot of talk from only loading up on j... See more

So, what's the game plan?

Many of us are turning into coupon ninjas, clipping up newspapers and using cash-back platforms like Rakuten (guilty).

Others are getting down and dirty in the garden, growing their own veggies at a fraction of the cost. And we can’t forget about the DIY hunters and fishers out there, stocking the freezer with nature's bounty. 🎣🦌

For many, meal planning has become less about what we're craving and more about what's on sale. Kellogg’s CEO even suggested eating cereal for dinner to save a few bucks. But maybe he’s biased.

Of course, the shift to more budget-friendly eating comes with its challenges. Not everyone has the space for a garden or the means to bulk buy. Not everyone qualifies for that senior discount or has the social circle for a potluck.

So, as we all try to keep our kitchens stocked without breaking the bank, I'm curious:

Are you a real estate investor or fix and flipper in need of 0% interest capital - unsecured?

Reggie Secured over $126,000 in 0% Interest Business Funding for his fix and flip projects.

The Result

Reggie secured $166,000 of 0% interest business capital for his new LLC. He's excited to get his first fix and flip up and running without a dime leaving his checking account.

The Process

Reggie came to us with the idea of starting his fix and flip business. First, we incorporated her business and made it a fundable business entity. Then we made the business compliant. In the first round, he secured $70,000 at 0% interest. Using the business funding secured, she paid off her personal debt. Raised her FICO score from 720 -> 770, and finished off the round with $36,000 at 0% and another 24,300 at 10% interest.