Market Performance: December 29, 2023.

Stocks poked mostly higher on Thursday as a high-flying 2023 neared an end on Wall Street.

The S&P 500 (^GSPC) hovered near an all-time closing high of 4,796.56 for the second straight day. The benchmark average increased just 0.04% on Thursday. Meanwhile the Dow Jones Industrial Average (^DJI) added 0.14%, or about 50 points, while the tech-heavy Nasdaq Composite (^IXIC) slipped just below the flat line. Still, the Nasdaq has gained more than 44% this year.

If that holds through the final day of trading in 2023 on Friday, it would be the major average's best year since 2003.

Tips on how to plan your finances for 2024

January isn't just about resolutions; it's a chance to plant the seeds for a prosperous year. You can make 2024 a year of smart financial decisions, which can be convenient and easy to implement.

Most experts believe that the key to financial planning is diversification based on your risk profile as well as the duration you want to remain invested for.

Diversification is one of the most important techniques in financial planning and investment. It is basically not putting all your eggs in one basket and hence aims to maximise return by investing in different areas that are likely to react differently to various market and economic changes.

There are a number of different financial instruments available for investing like stock markets, mutual funds, bonds, gold, real estate, etc., and a diversified portfolio neatly divides your assets into more than one asset class in order to reduce risk and maximize profits.

Who Does Gen Z Trust Most for Money Advice? It Might Surprise You

In general, Gen Zers are up against some tough financial obstacles. They’re cornered into frugality due to increasingly high costs of living, yet at the same time facing pressure to spend, in part because of the fancy exoticism and luxury frills they’re taking in from influencers on social media.

Like any younger person, the typical Gen Zer can really benefit from financial advice. And they’re getting it — but not from where you might think. According to a new study by Northwestern Mutual, Gen Zers, of all adult cohorts, are the most likely to consider family members as the most trusted source for financial advice.

They even trust family over financial advisors. Why is this, and is it a smart move for Gen Z — or really anyone — to make?

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