The biggest – and arguably the best – financial resolution for 2023 – MarketWatch

The biggest - and arguably the best - financial resolution for 2023 - MarketWatch

Happy New Year! We’re starting a little early, and for many people it will be good to have a second consecutive Monday off from work on January 2nd.

More than half of Americans who make New Year’s resolutions starting 2023 are determined to improve their financial health, according to a Teller poll. The top five financial resolutions all require action.

Anyone can face financial challenges beyond their control – you probably don’t know how much raise (if any) you’ll get in 2023. You also probably can’t predict whether you’ll lose your job. But you can be better prepared for any financial problem if you take a close look at your own expenses. What sacrifices can you make to improve your or your family’s financial fortune?

Here are some ideas:

In accordance with tradition: Turn your New Year’s resolution into a cooking habit that can add 13 healthy years to your life

How much do you know about the biggest financial stories of 2022?

MarketWatch Photo Illustration/Getty Images, iStockphoto

Take MarketWatch’s year-end quiz. The answers are at the bottom of this one Must know column, which also includes a look back at how the stock market has performed after broad declines.

A look back at the financial markets in 2022

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The S&P 500 index SPX,
-1.06%
fell nearly 20% for 2022 through December 30 at noon. Meanwhile, a combination of Federal Reserve policy moves to fight inflation led to a record sell-off for bonds. The yield on two-year US Treasury bonds TMUBMUSD02Y,
4.427%
rose from 0.73% at the end of 2021 to 4.45%.

In this environment Value stocks outperformed growth stocks by a large margin.

Here’s a list of them the 20 worst performing stocks of 2022. The article also includes a second list of companies whose dollar valuations have fallen the most — perhaps a surprise.

More year-end coverage 2022:

How could your investments be affected by a 2023 recession?

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Investors in the bond market expect a recession. US Ten-Year Treasury Bonds TMUBMUSD10Y,
3.881%
yielded 3.89% as of December 30, well below the two-year yield above. This shows that investors expect the Fed to be forced to cut interest rates to help the economy out of recession. That kind of move would automatically raise bond prices, with a greater effect on long-term paper.

If the bond investors are right, what happens to stocks during a recession? Iabel Wang sketches three possible recession scenarios for equity investors in 2023.

Joseph Adinolfi shares five ‘early indicators’ of the stock market that could determine the fate of your portfolio in 2023.

Bill Peters looks at it what retailers are doing to prepare for a recession.

Stock market approaches for 2023

According to Bob Elliott of Unlimited Funds, consumer spending may be the most important indicator for investors to watch in 2023.

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Here are some approaches that may work well, based on the opinion of money managers and analysts:

What will happen to crypto regulation in 2023?

The price of bitcoin in US dollars is down 64% in 2022.

FactSet

The world of virtual currencies can only be described as chaotic in 2022, including the collapse of TerraUSD USTUSD,
-1.81%
and Luna in May, down 64% for bitcoin BTCUSD,
-0.25%
and the ongoing saga of FTX, Alameda and Sam Bankman-Fried.

Any virtual currency is a risky ‘investment’, not only because it is not backed by any government or central bank, but also because it does not represent ownership in or be a liability of any income-producing company. There is also the operational risk of holding virtual coins in an account – especially one managed outside of the US or other major developed economy.

So what’s in store for crypto regulation in 2023? Anushree Dave explains that Congress needs to address these two questions.

Mark DeCambre, editor-in-chief at MarketWatch, wraps up this week’s year-end virtual currency news Distributed ledger column, what functions a spit between Mark Cuban and Peter Schiff of Euro Pacific Capital.

It’s Trump Tax Time

Protesters gathered in Washington on April 15, 2017 to demand that President Donald Trump release his tax returns.

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In an event years in the making, the US House Ways and Means Committee released six years of tax returns from former President Donald Trump on December 30. first reactions and deeper looks into how much (or how little) Trump paid in federal income taxes and why.

Related:

Where can I find an affordable home on the water where it is quiet?

Kingston, NY might just fit the bill for a retiree who wants to be near water while keeping house prices low.

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In the Where should I retire? column, Jessica Hall helps a reader who has a $350,000 home budget, wants to be near water, and preferably on the East Coast. Be here three possibilities.

Check out MarketWatch retirement location tool for your own custom search. It contains data for more than 3,000 US counties and includes climate risks.

A very important company continues to hope for peace

Some of the worst industrial shortages of the coronavirus pandemic resulted from a disruption in the supply of various types of computer chips. In a Project syndicate column mentions Jason Hsu Taiwan Semiconductor TSM,
-2.70%
“the most important company in the world” because it makes about 65% of semiconductors and about 90% of high-end chips. He then explains what steps TSM is taking to reduce the risk amid tensions between the US and China, over Taiwan’s independence.

Some relief for borrowers in 2023

Happy senior woman greeting with her supporters while running a marathon on the road.

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President Joe Biden signed the Secure 2.0 Act on December 29. The legislation includes many changes in retirement account rules and even some possible relief for those with student loans, as Jessica Hall explains.

Paul Brandus looks into it how the legislation can help part-time workers and is considering other proposals under discussion in Congress.

explains Jillian Berman what will be possible in 2023 for people with a student debtas Biden’s aid efforts are being challenged in court.

Will 2023 mark the start of another iPhone-like transition for technology?

ChatGPT has tech watchers overflowing with excitement about its promise to change the way people search for and process information.

MarketWatch photo illustration/iStockphoto

Therese Poletti investigates ChatGPT, a new AI technology praised for its revolutionary potential. The big question is whether the new technology will be profitablein the wake of earlier failed attempts, such as IBM’s Watson.

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