Here’s what you need to know today

• Donald Trump is once again President of the United States. Dominating the headlines around his inauguration are his reversal of the TikTok ban (ABC News), the $TRUMP and $MELANIA cryptocurrencies (more on that below), and speculation over which executive orders he will sign on day one (News.com.au).
  
  

• Bitcoin hit new all-time highs, rising above $109,000 USD. The rise is largely due to President Trump’s inauguration, his signals of a pro-crypto policy setting and talk of a potential US Government strategic national Bitcoin reserve (Forbes).
  
  

• The Israel-Hamas ceasefire has survived its first test as Hamas released three Israeli hostages and Israel released 90 Palestinian prisoners. Aid trucks have also begun flowing into Gaza via two border crossings, providing much needed supplies to the region (ABC News).
  
  

• Casino operator Star Entertainment Group (ASX: SGR) saw shares fall 18% on Monday after flagging a 15% fall in quarterly revenue and warning there is “material uncertainty” about its ability to continue operating. Star’s shares are already down 40% for the year (Capital Brief).
  
  

• Westpac has issued a key warning to Australian mining investors. The bank predicted the iron ore price could fall 30% this year to around US$70 a tonne. Right now, the iron ore price is just above US$100 but with Rio Tinto expected to start production at both its Western Range project in Australia’s Pilbara and Simandou project in the Republic of Guinea this year, Westpac believe prices will fall (AFR).
  
  

• SpaceX is being investigated by the US Federal Aviation Administration (FAA) after a failed launch last week saw debris fall over the islands of Turks and Caicos. The FAA requires SpaceX to identify the cause of the failure and must sign off on the rectification plan before SpaceX can carry out further launches of its largest rockets (Quartz).
  
  

• General Motors is being sued by the US Federal Trade Commission and the Texas Attorney-General for selling consumer’s data without their consent. According to the complaint, GM collected data including when drivers got behind the wheel, how fast they were going, whether they wore seatbelts and where they drove, and then sold that data to data brokers and self-driving car startups (Fortune).
  
  

• Embattled semiconductor maker Intel (NASDAQ: INTC) saw shares rise 9% on reports that an anonymous buyer was preparing a bid to buy the $92 billion company. Intel’s shares are down more than 55% in the past 12 months (Quartz).

What the…?

Last Friday, President-elect Donald Trump launched the $TRUMP cryptocurrency which rocketed up in value to have a fully diluted market cap of more than $70 billion (Axios). This meant, on paper at least, Trump’s holding in this 4-day old cryptocurrency was a larger part of his wealth than a lifetime of real estate development and other business ventures.

The story doesn’t stop there. Yesterday, incoming First Lady Melania Trump launched her own cryptocurrency $MELANIA, which at time of writing had already jumped to a market cap of more than $5 billion.

Investing is a lifelong journey

Here’s what you can learn today.

Community Question: I'm thinking about starting a side hustle. What are the financial considerations I should keep in mind?

We put this question to Dylan Partiger-Green, financial adviser and partner at Bold Wealth. Here’s what he said:

Time is money! This is something a lot of clients will bring up, whether it be an additional revenue stream to build toward a financial goal or monetising an existing hobby or passion.

We like to think about our human capital, like we do our investment capital. Your time and capacity to earn money is your most valuable asset. A side hustle can be a great way to earn a few extra dollars, but you need to ask whether the money you make from the additional time spent hustling is equal to or greater than the additional value you could generate through working your main gig.

If you’re early in your career or still studying, working on different projects that give you new skills and might earn you an extra pint or two at the pub that night is a great call. You might discover a niche that you love and can build a career in.

If you’re a lawyer on a 6-figure salary, it’s unlikely that selling your grandmothers’ relish at the local farmers market is going to be a good investment of your time (Sorry Gran). It’s very wholesome though.

Making money isn’t the only thing we do with our time. Spending time with family and friends, enjoying a pint at the pub or training for the marathon you’ve always wanted to do aren’t things that are likely to earn you money as a side hustle, but they’re incredibly valuable to our social and mental wellbeing. Think about the trade-off, earn what you need, save well, and do the things that make you happy.

Finally, the best side hustle is the one you don’t have to actively participate in to pay you a passive income. The best advice I can give someone here is to start investing early, build a capital war chest and reap the benefits once it’s built and humming.

Would you like to speak to Dylan or another of our hand-picked financial advisers? Fill out the form on our website and we’ll put you in touch.

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