Net Worth Milestones by Age: Why Net Worth Matters More Than Income for Financial Security

**SPEAKER_1** (0:00)
Stop guessing with supplements.
Most of us take vitamins blindly, wasting time and money. Your body is unique and it deserves better. Introducing TruDiagnostic, an easy at-home health test. With a quick finger prick, TruDiagnostic uses advanced epigenetic testing to analyze over one million data points and measure up to 180 biomarkers. You will receive clear digital results with a personalized 90-day actionable plan to improve health, boost energy, and slow down your aging process. There is absolutely no guesswork and no generic advice. Right now, my listeners can get 20% off at trudiagnostic.com using code INVEST20 at checkout. That's trudiagnostic.com and use code INVEST20 for 20% off today. Choose TruAge, TruHealth, or the combo kit as a one-time purchase or subscription. TruDiagnostic, spelled TRU, D-I-A, gnostic.com.
Use code INVEST20 for 20% off today.

**SPEAKER_2** (1:09)
This is Invest Talk from KPP Financial, helping investors make sense of the markets one day at a time. Here's your host, Justin Klein.

**Justin Klein** (1:25)
Good afternoon, fellow investors, and welcome back to Invest Talk. I'm going to start off today's show really highlighting, I don't talk a lot about my interests, but I'm a big hoops head, big basketball guy. I've had Laker season tickets for 18 years now.
But I just love basketball, and to me the NBA finals are the pinnacle. I love it. Game one yesterday was incredible. Loved seeing New York on fire, and just excited for basketball again. So I wanted to highlight that, because if you're out there, and you're maybe thinking about watching the finals, I encourage you to tune in. It's just, I think it's just been an incredible playoff. So pretty excited about that. But I'm also excited to talk to you guys, and whatever is on your mind, very interesting topics to discuss today.
And we'll jump right in. You know, whatever is on your mind, I want to hear from you, money related. Maybe you want to talk about the NBA finals. That'd be great as well. I love talking hoops. It's probably my second favorite topic to discuss besides investing in the markets and things like that. So whatever is in your mind, give us a call, 888-99-CHART is the number to get through and ask your question. And heads up, our next Wealth Webinar is set for Tuesday, June 30th, less than a month away, 12 to 1 p.m. Pacific Time. It's called Beyond the Yield, How to Invest for Your Income Needs.
So you can register for free by heading over to investalk.com. Now just to be able to talk about today's market performance, run down the show topics for this hour. But first, let's tackle this caller question first.

**SPEAKER_4** (3:13)
I had a question about Carvana.

**SPEAKER_5** (3:16)
I just wanted to know your idea about this stock. I'm looking forward to your response. Thanks so much.

**Justin Klein** (3:24)
Looking at Carvana, CVNA is the symbol.
This is one of those names that very, it's a retail juggernaut.
This is a good proxy for liquidity. It's a good proxy for how the average investor is feeling, etc. Because historically, they haven't been very profitable. Now, they're profitable recently. They've made some changes to their business model and they're starting to produce profit. $1.52 expected in earnings this year. That's still down 10% from last year. Then expect to make $2.8 next year. That's a $66 stock. Kind of expensive for a company that, if you're talking about forward-looking earnings multiple in the low 30s, that's kind of expensive for companies. Earnings growth has been pretty meager, especially as of late. Now, once again, it's supposed to accelerate. But if you go look at the cash flows of Carvana, they're not that great. If free cash flow has turned positive, that's the good thing. But it's flattened out right here around $700 million on a market cap of $47 billion.
Now, momentum has waned. It peaked back in, when was this, January?
And it's now 32% off. It's 52 week high. It's certainly in a downtrend. It found support at the 50, sorry, the 100 week moving average, bounced, but has rolled over once again. To me, this looks heavy. This looks like it wants to head lower.
And frankly, not shocked. If you're having higher interest rates, consumers becoming stretched, the used car market is not going to do very well. It's a used car online platform. So when I look at the valuation, I look at the technicals overall, it's just not that pretty of a picture. Better than it had been in the past, I'll say that, some improvement, but overall I'm passing on Carvana. You know, we had a great show yesterday. We looked in the story, gold's confusing signal, why the safe haven trade hasn't played out as expected. We also answered questions on Salesforce CRM, which was submitted via a live call from AM 1220 in the Bay Area. And if you happen to miss it, go check it out. The best way to get every show is to follow Invest Talk wherever you get your podcast. Now we have a lot of ground to cover over the next 45 minutes or so. Time permitting, we're going to get to all of it. Our main focus point is about net worth milestones by age. Why net worth matters more than income for financial security. We looked at a new survey from the Federal Reserve. We're going to give you an idea of where you kind of land when it comes to the different age brackets, net worth, mean and median, which are very different. Important to look at that. So we're going to check that out and much more on today's show. We're also going to talk about why the $1 million market used to be, oh, I should make a million dollars and I can retire. Well, that's no longer a great benchmark. There are other check marks to consider when you're thinking about it, thinking about retirement. Also, SpaceX, we have SpaceX IPO coming out. I think it's a week from Friday. Fidelity lowered their minimum to $2,000 to invest in it from I believe it was $20,000 or $25,000 before.