What’s In This Email

• Financial Advisor of 15 Years Says His Wealthiest Clients Do These 3 Things 💎

• Amazon investing $4 billion in AI startup Anthropic 💸

• Someone in Toronto is $68 million dollars richer 💰

• You can now get a prescription to the… Zoo? 🐅

• Notable spotlight: POP Montreal 🎶

• Notable plug 🔌

✍️ TAKE NOTE

This Financial Advisor of 15 Years Says His Wealthiest Clients Have The Same 3 Habits

Based on the insights shared by a Certified Financial Planner (CFP), Malik S. Lee, with nearly 15 years of experience, he walks us through the common habits among his wealthiest clients that contribute to their financial success. (Business Insider)

Key Takeaways

• Aggressive Saving Habit:

  • Wealthiest clients save at least 25% of their gross income annually, which is notably higher than the typical recommendation of saving 10% to 15% of gross income.

  • Despite the allure of big-ticket purchases, the most significant yearly expense for these individuals is savings.

• Proficient Risk Management:

  • Understanding and managing risks is crucial, especially when it comes to preserving wealth against bad investment decisions, market volatility, overspending, longevity, inflation, and legal threats.

  • Utilizing insurance products like long-term care insurance, disability insurance, life insurance, and umbrella insurance to mitigate various risks.

• Engagement of Expert Teams:

  • Wealthiest clients often have a team of financial professionals including attorneys, tax experts, insurance experts, and financial advisors or planners.

  • These experts provide not only tangible action steps but also help in controlling emotions, providing a clear financial roadmap, and keeping up with the rapidly changing financial and legal landscapes.

Amazon is Investing $4 Billion into AI Startup Anthropic

In a strategic move to bolster its standing in the competitive AI landscape, Amazon has earmarked up to $4 billion for investment in the AI startup Anthropic. This partnership not only signifies Amazon's aggressive stride towards AI supremacy but also highlights the burgeoning value and capabilities of Anthropic in the AI domain. (Forbes)

Key Takeaways

• Strategic Investment:

  • Amazon plans to invest up to $4 billion in AI startup Anthropic to bolster its position in the AI domain, aiming to compete with tech giants like Google, Microsoft, and Nvidia.

• Technology Integration:

  • The partnership will see Amazon integrating Anthropic's AI technology into its products and services, while Anthropic will utilize Amazon Web Services as its primary cloud provider and assist in developing custom AI chips for Amazon.

• Ownership and Valuation:

  • Amazon will acquire a "minority ownership position" in Anthropic through this deal. Anthropic, a key rival to Microsoft-backed OpenAI, was valued at around $5 billion in its recent fundraising round with backing from Google.

• Previous Partnerships:

  • Despite a previous investment of $300 million from Google and a partnership with Google Cloud, Anthropic's new alliance with Amazon and preference for AWS as its primary cloud provider may alter its existing arrangements, although it's stated that the arrangement with Google remains unchanged.

POP Montreal

September 27 - October 1

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POP Montreal International Music Festival is an annual not-for-profit curated cultural event that champions independence in the arts by presenting emerging and celebrated artistic talents from around the world.

Get Tickets

🔌  NOTABLE PLUG

🎙️ Get Into It: More Money Podcast, Canadian money expert, speaker, Accredited Financial Counsellor Canada® and podcast host Jessica Moorhouse is here to guide you on your personal finance journey and share the stories, expertise, and wisdom from top personal finance and business experts, entrepreneurs, authors, and influencers to help simplify and demystify the "complex" world of money. Listen on Apple or Spotify.

📄 Notable Hires: Director of Compliance @ Questrade.

🎓 Hope This Helps: Safurai is the AI Code Assistant that saves you time in changing, optimizing, and searching code.

🧠 Today We Learned: The blob of toothpaste on a toothbrush has a name. It's called a 'nurdle' and there was once a lawsuit over which toothpaste company had the right to portray it.

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ABOUT NOTABLE
Notable Life is Canada's hub for young professionals, entrepreneurs, and culture generators operated by The Notable Group. Notable Daily inspires ideas and sharpens the minds of over 46,000 top-tier professionals in competitive industries.

Disclosure: While we utilize artificial intelligence (AI) to assist with certain aspects of content development, all information provided in our content is thoroughly vetted and edited by our team of humans. We strive to ensure the accuracy and reliability of all information. However, we recommend that readers conduct research or seek professional advice to make informed decisions. This email may contain sponsored content.