I Sat Down With The Guy Who Ate McDonald's For 100 Days & Here's What He Taught Me

Goodbye 2023, we are on to 2024! We made the weekly update a bit shorter due to the holidays.?

Here is our Top 5:

1. How Many Rate Cuts In 2024? ??
2. The Rise Of Forever Renters ??
3. Just How Rich Was The Family In Home Alone? ??
4. The Award For Fastest Growing States Goes To...??
5. Interview With The Financial Advisor Who Ate McDonald's For 100 Straight Days ??

Before we get into our top 5 here is our weekly one-question poll .

Markets: Year to Date as of 12/29

Our Top 5 ??

How Many Rate Cuts In 2024? ??

The Federal Reserve has recently decided to maintain its key interest rate at the current level, indicating a potential shift away from its previous strategy of aggressive rate hikes aimed at tackling high inflation. However, policymakers at the Fed are now projecting three quarter-point reductions in the benchmark interest rate for the upcoming year, which is lower than the expectations of both financial markets and economists. These anticipated rate cuts are anticipated to begin in the latter half of the year, suggesting that borrowing rates will still be relatively elevated in 2024 as a means to curb spending and inflation. You can read more about that here.?

The Rise Of Forever Renters ??

The New York Times had a great piece on "Forever Renters." This is in stark contrast to the American Dream that was coined back in 1931 by James Truslow.

?Many millennials are entering prime home buying age, but they are increasingly opting out or simply giving up. Who are these forever renters and why aren’t they buying homes?

?For one interest rates are so high that it doesn't make sense to buy for many people.?

Then there is debt, many millennials are saddled with student loan debt, credit card debt, you name it.?

And finally, the new American dream is not settling down and finding a steady career but instead trying to climb the corporate ladder as quickly as possible. This combined with the modern gig economy leads to younger generations wanting to be more nimble to chase the best opportunities.?

If you are someone out there who hasn't bought a house, what is your primary reason for not wanting to buy?

Just How Rich Was The Family In Home Alone? ??

A Christmas tradition in the Cosgrove house is to watch at least one of the two Home Alone movies. I would even say that Home Alone 2 actually is just as good as Home Alone 1 which is a rare thing to see in the movie world. But alas we are not here to talk about which movie was better but more so how wealthy the McCallister family was in the movie.?

The New York Times recently talked to experts with the Federal Reserve who compared the home to similar ones in Chicago in the early 1990s, estimating the McCallister’s income to afford that home was at least $305,000 a year. This would put the family in the top 1% of households in the U.S. Adjusted for inflation, the family would need to make at least $700,000 to afford the same house today.

So yes, you would have to be pretty rich to own that 10-bedroom house in the suburbs of Chicago.?

The Award For Fastest Growing States Goes To...??

The Southern states have been experiencing significant growth in their population this year, with Texas, Florida, North Carolina, Georgia, and South Carolina collectively adding nearly 1.2 million new residents. In fact, the South is the only region that has seen a net increase in residents from other states. On the other hand, the population has declined in eight states compared to last year, including New York, California, Illinois, Louisiana, Pennsylvania, Oregon, Hawaii, and West Virginia.

In contrast, the national population has grown by 1.6 million people due to both births and immigrants, as reported by the U.S. Census Bureau recently.

Interview With The Financial Advisor Who Ate McDonald's For 100 Straight Days ??

This past week I had a chance to sit down with a guy who has been in the news a lot this past year for eating McDonald's 100 days straight and losing 60 lbs. While that feat sounds incredible what's even more impressive is Kevin Maginnis has also taken 2 companies public and has revamped the training programs of Orbitz, Microsoft, and a host of others.?

In our nearly 2 hour interview, Kevin shares with me some of the top secrets the wealthy use. You can listen/watch this replay on YouTube , Facebook, Instagram, and Linkedin.?

Which secret did you find most interesting?

What Life Lesson Did Hallmark Christmas Movies Teach Me This Year?

We celebrated Christmas just a few days ago. While I sat beneath my Christmas tree drinking hot cocoa and watching Hallmark Christmas movies I got inspired to write about the 3P's that these wonderful movies can teach us. You can read on to find out what those 3P's are.

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Dad Jokes For Christmas ??

??What makes a candy cane a collector's item?

It's in mint condition. ???

???? What's Santa's favorite snack?

Crisp Pringles. ???

????How does a gingerbread man get around with a broken leg?

He uses a candy cane. ??