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- Smart Money Weekly: Issue 06
Smart Money Weekly: Issue 06
Your Quick Guide to Staying Ahead in Money, Markets, and Mindset
RASHIDA HERBERS
September 14, 2025 • Estimated Reading Time: 11 minutes
Good Morning Money Movers! ☕
📊 What a week of contradictions! On Thursday, we witnessed something truly historic: all three major stock indices hit record highs on the same day, with the Dow crossing 46,000 for the first time ever. Wall Street was practically throwing a party! 🎉
But here's the plot twist - while your portfolio was probably doing a happy dance, everyday Americans were feeling anything but celebratory. Consumer sentiment just dropped to a 4 month low, and jobless claims spiked to levels we haven't seen since 2021. It's the ultimate tale of two economies: one where the markets are soaring, and another where people are genuinely worried about their financial future. So what's really going on, and what does it mean for your money? Let's dive in! 💰
📈 Market Snapshots
S&P 500: 6,584 ⬆️ (+1.6%) for week 📊
Dow Jones Industrial Average: 45,834 ⬆️ (+1.0%) for week 📈
Nasdaq: 22,141 ⬆️ (+2.0% ) for week 💻📈
Gold: $3,672/oz (+39%) YTD ⚡🥇
10-Year Treasury: ⬆️ ~4.1% Yields rose 📈
30-Year Mortgage: ⬇️ ~6.35% Near 11 month lows 🏠
💰 Featured: Tech Billionaire Shakeup
Oracle's Larry Ellison Briefly Becomes World's Richest Person 👑
In a stunning turn of events, Oracle cofounder Larry Ellison briefly overtook Elon Musk as the world's richest person this week! Ellison's net worth soared by an incredible $110 billion in a single day after Oracle's stock jumped nearly 36% following stellar earnings. His wealth peaked at around $383 billion, just edging out Musk's $384 billion (though the rankings have since flipped back).
Why it matters: This massive wealth swing shows just how much tech stocks can move in a single day. If you own Oracle stock or tech heavy index funds, you probably had a very good Wednesday! It's also a reminder of how quickly fortunes can change in the stock market.
🤑 Fun Beak! : Want to see who the richest person is in your state? Check out this cool interactive map - In my home state of Georgia, the richest is S. Truett Cathy, the founder of Chick-fil-A! 🐔
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🚀 Top Money Stories
1. Historic Triple Record Day: All Major Indices Hit New Highs 📈🎉
Thursday, September 11th will go down in market history as one of those rare days when ALL three major indices hit record highs simultaneously! The Dow crossed 46,000 for the first time ever (closing at 46,108), the S&P 500 hit a record 6,587.47, and the Nasdaq closed at a new high of 22,043.07. It was a perfect storm of Fed optimism and investor euphoria.
Why it matters: If you have a 401(k), IRA, or any stock investments, you probably had a very good Thursday! This kind of broad based rally suggests the entire market is optimistic about the future. It's a great reminder of why staying invested for the long term pays off, even when things feel uncertain. 🚀
2. Fed Rate Cut Now 100% Certain for September 17 ✅💸
The suspense is over! A whopping 105 out of 107 economists now predict the Federal Reserve will cut interest rates by 0.25% at next week's meeting. This would be the first rate cut of 2025, and Morgan Stanley expects three total cuts this year as the Fed shifts from fighting inflation to supporting the economy.
Why it matters: This is the news your wallet has been waiting for! Lower rates mean cheaper borrowing costs for credit cards, car loans, and mortgages. If you've been putting off a major purchase or considering refinancing, the tide is finally turning in your favor. Your savings account rates might dip slightly, but the overall benefit to borrowers will be huge. 💰
3. Congress Proposes Eliminating Taxes on Social Security 🏛️💵
Here's a potential game changer for retirees: Congress just introduced the "You Earned It, You Keep It" Act, which would completely eliminate federal taxes on Social Security benefits starting in 2026. The proposal would also raise the payroll tax cap to include earnings over $250,000 to help fund the program.
Why it matters: This could be massive for millions of retirees! Currently, up to 85% of Social Security benefits can be taxed if your income exceeds certain thresholds. Eliminating these taxes would put more money directly into retirees' pockets. While it's still just a proposal, it shows Congress is taking retirement security seriously. If you're planning for retirement, this could significantly impact your calculations. 🎯
4. Consumer Sentiment Drops to 4 Month Low Despite Market Highs 😟
Here's the disconnect between Wall Street and Main Street: While markets are hitting records, the University of Michigan's consumer sentiment index fell to 55.4 in September, down from 58.2 in August and a whopping 14.3% lower than a year ago. Americans are increasingly worried about their jobs and the overall economy.
Why it matters: This shows that market gains don't always translate to how people feel about their personal finances. Lower and middle income consumers are feeling the pinch from persistent inflation and job market uncertainty. It's a reminder that your individual financial situation matters more than what the stock market is doing on any given day. 💭
5. Jobless Claims Spike to Highest Level Since 2021 📈⚠️
The job market showed some concerning cracks this week as weekly unemployment claims jumped by 27,000 to 263,000 - the highest level since October 2021. This significant spike suggests the labor market is softening faster than many expected, which actually helped fuel the Fed rate cut expectations.
Why it matters: A softening job market is a double edged sword. On one hand, it's making the Fed more likely to cut rates (good for borrowers). On the other hand, it could signal tougher times ahead for job seekers. If you're employed, now might be a good time to build up that emergency fund and make sure your skills are up to date. If you're job hunting, don't panic - the market is still historically strong, just cooling from recent highs. 🛡️
🚂 The Inspiration Station
The Power of a "Boring" 1% Improvement 💰
It's easy to get excited about big market moves and record breaking headlines. But the real secret to building long term wealth is often found in the small, consistent actions you take every day. Think about it: if you can improve your financial habits by just 1% each day, you'll be 37 times better off by the end of the year!
What does a 1% improvement look like? It could be:
•Automating an extra $10 into your savings account each week.
•Spending 15 minutes learning about a new investment strategy.
•Negotiating one bill to a lower rate.
•Bringing your lunch to work one more day a week.
These small wins might not feel like much in the moment, but over time, they compound into massive results. Don't underestimate the power of consistency. Your future self will thank you for it! ✨
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💰️ Best Online Financial Advisors 2025 💰️
Scope of services, credentials, online tools, and fee structures are all factors you should consider when choosing a financial advisor. Check out entire list here ➡️ https://go.rashidaherbers.com/financialadvisorslist
💸 The Reality Check Corner
Is That High Yield Savings Account Still Worth It? 🤔
With the Fed likely to cut interest rates, you might be wondering if your high yield savings account (HYSA) is still a good deal. The short answer is: YES!
Even if the Fed cuts rates, HYSAs will still offer significantly higher interest rates than traditional savings accounts. While the rates might dip slightly, they will still be one of the best places to park your emergency fund and short term savings.
Your move: Don't pull your money out of your HYSA just because of a potential rate cut. Continue to enjoy the benefits of earning more on your savings. If you don't have an HYSA yet, now is still a great time to open one and start earning more on your cash. 💵
🔥 In Case You Missed It…
🗓️ Free Custom Financial Tools!
These free interactive templates will help guide you through establishing and tracking your progress. Download the templates that speak to your goals and values for FREE! Here you go! ➡️ https://stan.store/rashidaherbers
That's a wrap for this week! Remember, the financial world is always changing, but by staying informed and taking small, consistent steps, you can build a brighter financial future. See you next week!
- Rashida