The Most Searched Financial Terms of 2024

2024 was a year that brought us no shortage of interesting news, from massive returns in AI stocks like Nvidia to surging homeowners insurance premiums following massive destruction in North Carolina. As we approach the end of the year, let's review five of the most searched financial topics of the year (Source: Investopedia).

Inflation

The post-pandemic inflation spike of 8-10% slowed in 2024 down to 2-3%. Prices are still high due to the one-time bumps in 2022-2023, but the rate at which prices grow is back down toward pre-pandemic levels. Despite this, one of the main topics during the Presidential debates was the issue of inflation and how it would be combated.

Nvidia

Last year, the AI wave caught steam, with most Fortune 500 companies either incorporating it into their business model or publically discussing ways in which they would in the future. The leader in this space, Nvidia, had tremendous growth in its stock price, up over 238% in 2023. Rarely does a stock continue to perform well on the heels of such performance and when it’s talked about as much as it is. Nvidia was the exception, up over 180% again this year.

Tariffs

With Donald Trump's election in 2024, tariffs have become a significant talking point. Trump has mentioned the US's big trading partners, including China, Mexico, and others, which has led many to speculate about a possible resurgence in inflation as a result.

Home Owners Insurance

Following Hurricane Helene, which devastated parts of NC and other communities, people went online to review their insurance protection. Many homeowners found that their coverage did not include hurricane and water damage coverage. Many people discovered they were paying more for their insurance than they previously thought, as many carriers raised premiums 20-25% from 2022 to 2024 due to higher labor and material costs.

High-Yield Savings Account

Despite elevated interest rates for three years, many still had large amounts of cash in low-interest-bearing checking accounts. With rates climbing to nearly 5% during the year, many turned online to places like Capital One, Marcus, Ally, and others to get paid for their idle cash.

While knowing the details of the most relevant financial terms will likely not help you invest better, it may help you participate more at Christmas dinner!

Happy Planning,

Alex

This blog post is not advice. Please read disclaimers.