💸 Savings rates are going up

+ building a home over buying & do you need travel insurance?

February 28, 2023 View online | Sign up TOGETHER WITH Good day. Can you guess where in the world is a tall Starbucks latte the most expensive? a. Canada, b. Argentina, c. Switzerland. Follow the wave 🌊 below for the answer. The money topics today are: How much does it cost to build a home?  CDs are now offering 5% yields Do you need travel insurance?

HOUSING How Much Does it Cost to Build a Home? Welcome to the wonderful world of home building, where the excitement of creating your dream home is only ever rivaled by the terror of discovering how much it's going to cost. But in a housing market that's become so costly in recent years, might it actually make sense to build a home? What's worth knowing The averages: According to HomeAdvisor, the average cost to build a home right now is $283,600, with a general range for most new homes falling between $109,000 and $459,000. Safe to say, the cost to build varies widely, and depends on a lot of factors.  Market comparison: According to Zillow, the average home value for the entire US is $328,745. This varies widely though. The average California home value is $716,909, whereas the average home value in Louisiana is $186,795. What it costs to buy will depend almost entirely on your location and home details.  Most expensive parts: Certain parts of the home building process are more costly and arduous than others. For instance, purchasing the land to build on could cost anywhere from $3,000 to $150,000 or more depending on lot size and location. You'll also have to consider the costs of clearing and grading the land, permit costs, the foundation and framing, and of course the labor and supplies on top of it all.  Your aspirations and your budget will come together to decide what makes the most sense for you — build or buy. If you want a certain piece of land, a unique home, or want to build something that'll stay in the family for generations, and your budget can accommodate it, then building may be the choice for you.  On the other hand, if you're simply considering a build as a cheaper option, things can get more complicated quickly. You'll have to do some math and compare what's available on the market with what you want and can afford, and then get some valid estimates on what a similar new build would cost. Take this related lesson on this topic and earn Dibs 🟡 while you're at it: Budgeting Basics Budgeting & Saving 6 mins

SAVING MORE CDs are Now Offering 5% Yields Certificates of deposit (CDs) are an often overlooked alternative when you're looking for somewhere safe to store your money for a long period of time. Unlike most savings accounts, CDs usually require a minimum deposit and always require an agreed upon "lock-up" period during which accountholders cannot access their funds.  While that might seem like it's a bit stringent and inflexible, those tradeoffs come with a reward by way of higher interest rates. Right now, the average savings account rate is about 0.23% across the U.S., whereas the average CD yield is almost 5 times that at 1.36%.  But those averages are skewed downward by those bottom-of-the-barrel rates out there, and you can do much better.  Where to look and what to know CD precautions: When it comes to the drawbacks of CDs, the main thing to be aware of is their lack of liquidity. CDs usually can't be accessed from 3 months to 5 years, and an early withdrawal will trigger a penalty. These penalties vary from bank to bank and depend on the length of your term, but they usually come in the form of missing out on anywhere from 90 days to 6 months of interest payments.  Is a CD for you? CDs are ideal for savers who'd like to earn a higher, risk-free return on their money. Generally, CDs are not used to stash an emergency fund, but rather a secondary safe haven for money you have after you've built up your emergency savings and started investing.  Finding the highest rate: The average APY of a CD right now may be 1.36%, but much higher offers can easily be found. Capital One and BMO Harris are both offering yields of 5% with term lengths of less than a year, and there are countless others like Barclays and Synchrony offering rates in the 4% range. The best place to look for a competitive rate is likely with an online bank, and not a brick-and-mortar establishment. Take this related lesson on this topic and earn Dibs 🟡 while you're at it: Saving More Budgeting & Saving 8 mins

SPONSORED BY MASTERWORKS A million-dollar Banksy got investors 32% returns. Mm-hmm, sure. So, what's the catch?  We know it may sound too good to be true. It's not only possible, it's happening—and thousands of investors are smiling all the way to the bank, thanks to the fine-art investing platform Masterworks.    Masterworks has built a track record of 8 exits, the last 3 realizing 10.4%, 35%, and 13.9% net returns even while financial markets plummeted. But art? Really? Okay, skeptics, here are the numbers: Contemporary art prices: Outpaced the S&P 500 by 131% over the last 26 years Have the lowest correlation to equities of any asset class Remained stable through the dot-com bubble and '08 crisis  Offerings can sell out in just minutes but The Gist readers can skip the waitlist with this exclusive link.

MONEY TIP Do You Need Travel Insurance? Insurance is one of those necessities that oftentimes disguises itself as an optional expense. It can seem like a waste of money at times, especially if it's not needed. And yet, as soon as it comes in handy once, you'd never go without again.  Travel insurance is perhaps the trickiest of all policies. It's an added trip expense that is often confusing, complex, and sometimes unnecessary. So, how do you know when to pay up for this added trip tax?  Key considerations for travel insurance Health insurance: When you're traveling abroad, health insurance is the most important factor. Most domestic health insurance plans have limited coverage internationally, so going on any lengthier stay in another country puts you at risk of lofty and foreign medical debts in the event of a problem. Luckily, travel health insurance plans are relatively affordable according to the cost and length of your trip.  Trip coverage: No one wants to get stuck having wasted thousands on a trip just because of some uncontrollable factor like a cancellation or delay. This is where trip coverage comes in and reimburses you for the cost of some or all of your trip expenses depending on the situation. Is it worth the purchase? If you think interruptions are likely and don't have any secondary coverage through your credit card, then trip coverage can be money well spent.  Consider credit cards: There's a litany of well-known credit cards out there that provide some extent of travel insurance to their cardholders. The catch is that you usually must make your trip purchases on that exact card for them to be eligible, and the coverage of certain items will vary from card to card.  How to save on costs: Don't automatically opt in for the added insurance on those booking sites. Instead, look elsewhere first for an all-encompassing bundle-type policy that may cover more things for less. Additionally, don't overdo it with the coverage and sky-high coverage limits. Check on travel insurance sites like InsureMyTrip, AARDY, or Allianz Travel to learn more and compare quotes too.

🌊 BY THE WAY 🗻 Answer: Switzerland it is. A tall Starbucks latte will cost you $7.17 there. Denmark is next at $6.55, followed by Finland at $5.67. In Canada, a tall Starbucks latte will cost you $3.85, and in Argentina, it'll be $4.67. See the full list (Visual Capitalist) 🧱 Will construction costs go down in 2023? (Build Method Construction) ☕ ICYMI. 20-cent coffee. What's the catch? (Finny) 🪧 This tech company has a daily message for employees: 'Please go home!' (NBC) 🤝🏽 Finny lesson of the day. As questions from prospective home buyers come in about whether they should hire a real estate agent, here's a relevant lesson on the topic: Choosing a Real Estate Agent Housing 5 mins

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Use Cases, Challenges, and Investment opportunities.  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

	Open in app or online If you are serious about learning more about the tech and crypto space, please subscribe and get a FREE private one-on-one session in which you can ask any questions about crypto and web3 that you may have. Subscribers ALSO get exclusive, subscriber-only content during the week, access to our community, and classes and book discounts" Subscribe this month and get 15% off Subscribe now (15% OFF) Invite friends... 🌌🗺 How big is the Metaverse? Use Cases, Challenges, and Investment opportunities. Yaro Celis Feb 27   Save ▷  Listen   📊 Metaverse by the Numbers 🌌🗺 How big is the Metaverse? 💻⚙️ Metaverse Needed Tech This installment brought to you by Remote Web3 Jobs 🤔 Challenges for the Verse 🔌 Computer Demand for the Metaverse to function 🧰 The Metaverse Use Cases Conclusion.. 📊 Metaverse by the Numbers The metaverse market size was valued at a whopping $100.27 billion in 2022 and is projected to grow by $1,527.55 billion by 2029. The biggest metaverse real estate transaction was a $5 million purchase by Curzio Research for 19 commercial properties in TCG World. The deal was announced on May 22, 2022. The average price among the top 10 metaverse deals is $2.06 million, enough to buy a below-average real-world home in places like Hollywood Hills, Beverly Hills, or Malibu. The top ten all-time virtual real estate deals combined is $20.6 million. Seven of the top 10 real estate deals happened in Decentraland. There are 622,436 total parcels of land in the ten largest metaverses. Since their inception, the ten largest virtual world platforms have produced $1.9 billion in real estate sales. The digital real estate market is expected to increase by $5.37 billion from 2022 to 2026, at a CAGR of 61.74%, though the recent cool-off should temper expectations. 🌌🗺 How big is the Metaverse? The metaverse, which combines physical reality with augmented and virtual reality, is expected to grow more popular in 2023, with companies like Microsoft, Meta, Epic Games, and Nvidia leading the way. The metaverse will have social and economic systems in place where users can enjoy a wide range of content with unprecedented interoperability. Experts predict the metaverse will facilitate new forms of human connections, work, leisure, and even travel. In the metaverse, non-fungible tokens are a new type of virtual asset that has powered much of its growth, with blockchain a key facilitator in transactions. Gaming has some of the earliest metaverse experiences, and the metaverse can help increase game engagement, virality, and monetization. These virtual worlds that combine augmented and virtual reality (AR and VR) with our physical reality have a great potential impact on various industries. According to Forbes, the metaverse is one of the top ten trends to watch out for this year. Global spending on VR/AR, the foundation technologies of the metaverse, is projected to increase from $12 billion in 2020 to $72.8 billion in 2024. This growth is driving companies in industries such as gaming, retail, arts, healthcare, and blockchain to position themselves as critical players in this emerging ecosystem. The metaverse concept is enormous, and there will likely be a variety of metaverses, each with a specific focus, such as gaming or sports. Meta's vision is a 3D social media channel with AI-driven messaging tailored to each user. The metaverse will also likely become a hub for information, entertainment, and work, and could evolve into the next version of the internet. Influencer Marketing Hub 💻⚙️ Metaverse Needed Tech AR/VR handsets: These devices are still pricey ($200 - $3k+) and clunky to use. As of now, their use are limited to virtual worlds. In the future, we may have regular everyday glasses fitted with technology to allow us to jump into any virtual world. Haptic Technology: Is the use of tactile sensations to stimulate the sense of touch in a user experience. Gloves, vests and full outfits can make us feel the metaverse as we feel the present world. There are various companies developing haptic technology which willbe a game changer in the industry. Artificial Intelligence (AI): AI is important in the metaverse as it can enable virtual characters and objects to behave in a more lifelike and natural way. It can also be used to develop intelligent assistants to help users navigate the metaverse and provide personalized experiences. Blockchain: Blockchain technology can be used in the metaverse to enable secure and transparent transactions, manage virtual assets and currencies, and create a decentralized governance model. Cloud Computing: The metaverse requires a significant amount of computing power to support real-time rendering and interactive environments. Cloud computing can provide the necessary scalability and processing power to support a large number of users and deliver a seamless experience. We are by far not at a point where we can render worlds in seconds for thousands of simultaneous users. Internet of Things (IoT): IoT devices can be used in the metaverse to enable physical objects to interact with virtual worlds. This can create new opportunities for immersive experiences and enable a more seamless integration of the physical and virtual worlds. This weeks installment is brought to you by Remote Web3 Jobs: 🤔 Challenges for the Verse Interoperability: As the metaverse is a complex system with multiple components, protocols, and platforms, there is a need for standardized protocols and interfaces to ensure interoperability. Without standardization, different metaverse systems may not be able to communicate effectively, leading to fragmentation and limiting users' ability to move between different virtual worlds. As of now, interoperability is a challenge since different metaverses abide by different rules, and use different devices and operating systems. The company that creates interoperability in the metaverse and allows users to jump from one to another and use their virtual properties seamlessly has the potential to become a big player in the industry. Interoperability challenges for the metaverse include: Standardization Content and asset portability Identity management Intellectual property Governance Standardization is crucial for different systems to work together effectively. Content and asset portability is essential for users to seamlessly move between different virtual worlds. Identity management requires a robust system to maintain a consistent user identity across different platforms. Intellectual property challenges include ownership, licensing, and copyright. Governance models must be established to enable interoperability while protecting user rights and ensuring public safety. 🔌 Computer Demand for the Metaverse to function Scalability: The metaverse requires a massive amount of computing power to support a large number of users and provide real-time rendering of complex virtual environments. Ensuring that the system can scale effectively to handle a rapidly growing user base is crucial. Latency: In a metaverse environment, even small delays in rendering or processing can be noticeable to users and detract from the overall experience. Reducing latency and ensuring that the system can deliver real-time performance is essential. Bandwidth: The metaverse requires high-speed connectivity to enable real-time communication and collaboration between users. Ensuring that the system has sufficient bandwidth to support a large number of users is crucial. Hardware Requirements: To access the metaverse, users will require high-end computing hardware, such as a powerful graphics card, high-resolution display, and fast processor. Ensuring that the system is compatible with a broad range of hardware configurations and can run smoothly on lower-end hardware is crucial to broadening the user base. Energy Consumption: The metaverse requires a significant amount of energy to power the servers and data centers required to support the system. Ensuring that the system is energy-efficient and environmentally sustainable is becoming increasingly important. 🧰 The Metaverse Use Cases. Education: The metaverse has the potential to transform the way we learn by providing immersive and interactive learning environments. It can enable students to learn through simulations, virtual field trips, and interactive lessons, making education more engaging and effective. Entertainment: The metaverse offers endless possibilities for entertainment, including virtual concerts, festivals, gaming, and social events. Marshmello debuted in the metaverse in 2019 and Travis Scott had 28 million viewers watching his concert in 2020. It provides a new way to experience entertainment, creating immersive experiences that can bring people together from around the world. Marketing: The metaverse has the potential to revolutionize the marketing industry by enabling brands to create immersive experiences that engage consumers in new and exciting ways. The luxury brand Gucci has conducted multiple brand activations to figure out where and how to connect with Gen Z. Last year, it drew 19.9 million visitors in two weeks when it launched a metaverse version of its real-world Gucci Garden on Roblox. Transactions: The metaverse can enable virtual transactions, such as buying and selling virtual goods, digital assets, and virtual real estate. It can provide a new platform for e-commerce and can revolutionize the way we buy and sell products and services. Conclusion: The Metaverse is a complex system that offers social and economic systems where users can enjoy various contents with unprecedented interoperability. The metaverse has a massive market size, and its digital real estate market is expected to increase by $5.37 billion from 2023 to 2026. The metaverse offers new forms of human connections, work, leisure, and even travel. However, there are still several challenges in the metaverse, including the need for standardized protocols and interfaces to ensure interoperability. The metaverse needs different technologies such as AR/VR handsets, haptic technology, artificial intelligence, blockchain, cloud computing, and Internet of Things devices to function. With the growth of the metaverse industry, companies in various sectors are positioning themselves as critical players in this emerging ecosystem. 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