What’s In This Email

• The age you make the best financial decisions 💵

• Balancing act: 9 to 5 + 5 to 9 ⚖️

• Ford asks BoC not to raise rates again 📈

• CNE might be gone, but it makes an impact 🎡

• Notable spotlight: Sonndr Café ☕️

• Notable plug 🔌

✍️ TAKE NOTE

The Exact Age When You Make Your Best Financial Decisions

Did you know that our early 50s might be the golden age for making financial decisions? Around this age, we've gathered enough experience and knowledge about money matters, but we're still sharp with our analytical skills. Plus, it's the age when most of us tend to make the fewest financial blunders. (WSJ)

Key Takeaways

• According to a 2022 study by economist Rafal Chomik, the golden age for such decisions falls around 53 to 54 years old.

• Different age groups possess varying cognitive strengths. Individuals in their 20s excel at absorbing new information and numerical computations (fluid intelligence). In contrast, older individuals have accumulated more knowledge and experience (crystallized intelligence). The early 50s strike a balance between these faculties, leading to better financial choices.

• A study in 2009 labelled age 53 as the "age of reason" because financial mistakes are minimized around this age. Kristen Jacks, a financial educator, notes that people in their 50s are more aware of the need to evaluate all financial options carefully.

• One common financial mistake among 50-year-olds is underestimating their life expectancy, leading to flawed retirement planning.

Balancing Your 9 to 5 With a 5 to 9 Hustle

If it feels like everyone has a 5 to 9 after their 9 to 5, it’s because they do. A recent survey found that 40% of Gen X, 50% of Millenials, and 46% of Gen Z report having a side hustle.

Key Takeaways

• The primary drivers for the side hustles ranged between personal freedom, extra income to save/spend/invest, or extra money to make ends meet.

• On average, it was found that a side hustle generates $1,122 a month; however, over half of the individuals surveyed reported making less than $100 a month.

• The most common side hustles in 2023 include:

  • Online Businesses (podcasting, video courses, blogging or affiliate marketing)

  • Freelancing & Consulting

  • E-Commerce (Amazon, Esty, eBay or personal online shops)

  • Investing (real estate, crypto, stocks)

  • Self-Publishing

@_mlleceline

#cne #cnetoronto #cnetoronto2023🎡🎢🎠 #canadaday🇨🇦 #ontariocanada #torontocanada #pvtcanada2023 #vacacion #holidaymood #enjoylifetiktok

Sonndr Café

Celebrating their first month in their new home.

1068 Dundas St. W

⭐️⭐️⭐️⭐️⭐️
“I wanted to review because the coffee was just incredibly good. It really tasted different and amazing in a way I'm not eloquent enough to explain but definitely give this place a try if you want some damn nice cup of coffee.” - Aleksander

Pouring hours: 8 am - 5 pm every day
@thesonndr

🔌  NOTABLE PLUG

🎙 Get Into It: Smartless with Jason Bateman, Sean Hayes, & Will Arnett is a podcast that connects and unites people from all walks of life to learn about shared experiences through thoughtful dialogue and organic hilarity. Listen on Apple or Spotify.

📄 Notable Hires: Director of Product Management, Mobile (Remote - Vancouver) @ Hims & Hers

🎓 Hope This Helps: HeadshotPro, get professional business headshots in minutes with our AI photographer. Upload photos, pick style & receive 120+ headshots.

🧠 Today We Learned: 📸 Say, prunes? In the 1840s, it was considered childish to smile for pictures, so it became popular for people to say “prunes” instead of “cheese” in order to keep their mouths taut.

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ABOUT NOTABLE
Notable Life is Canada's premier hub for young professionals, entrepreneurs, and culture generators operated by The Notable Group. Notable Daily inspires ideas and sharpens the minds of over 44,000 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.