Wealth and Wisdom: Week of January 11, 2021

Well, hello again!

Mike’s Market e-Memo has returned with a new name – and a new look.  As many of you know, we put our weekly email newsletter on hold early last summer as we launched our new practice: The Mike Brown Financial Group.  But we kept your email address – as well as our promise to send you the next issue when it became available.  And here it is!

You’ll be getting Wealth and Wisdom every week from now on, unless and until you tell us you no longer want to receive it.  If that ever happens, just reply to the email with ‘UNSUBSCRIBE’ in the subject line.  I’ll understand.

In the meantime, we’ve got some catching up to do!  Here are several items that I think will get you off to a good start in 2021, and every week from now on I’ll be researching and sharing articles that I feel are worth your time and attention.  Also, please feel to explore some of the new features I’ve added, including the “Timely information on…” section at the bottom of the email, which contains even more timely articles on a variety of financial subjects, updated daily.

When you have a few minutes, I’d love you to visit our new website – and feel free to email me directly with your thoughts and suggestions.  We’re going to make 2021 the best year ever – together!

2021 reference guide

Here’s a concise summary of 2021 tax rates and retirement plan contribution limits.  (Reading time: 3 minutes)

FSA carryovers

Does your employer allow you to carry over unused balances from your flexible spending account into the new year?  Limits have increased for 2021.  (Reading time: 2 minutes)

Facing an uncertain future

More than two-thirds of Americans were financially hurt by the pandemic – and here’s what concerns them looking ahead.  (Reading time: 2 minutes)

Adjust your withholding now...

Now is a great time to make sure you won’t be lending your money interest-free to the government this year.  (Reading time: 2 minutes)

…and boost your 401(k) contributions

See how your savings rate compares with the rest of the country.  (Reading time: 3 minutes)

Where do you stand financially?

Are you middle-class? Above? Below? Does it really matter?  (Reading time: 5 minutes)

Investing lessons from 2020

Use these timely (and timeless) insights to improve your odds of investment success in the future.  (Reading time: 5 minutes)

‘Will I ever be able to retire?’

Don’t let these three mistakes keep you from the retirement you deserve.  (Reading time: 5 minutes)

2020 in review

Let’s have one last look at the year we’re all trying to forget – and how it changed the world.  (Reading time: 9 minutes)

Mike’s Pro Tip of the Week

Do you ever run out of money before you run out of month?  If so, try this: Write down everything you spend between now and March 31 – whether you pay cash, write a check, or put it on your debit or credit card.  Keep a journal, use an app – it doesn’t matter how you keep track.  In 90 days or so, you’ll have a good idea where your money goes and where you can cut back.  For the rest of 2021, use the money you save to pay off debts or boost your retirement savings

Neither The Mike Brown Financial Group nor its employees provide tax and legal advice. Please consult your tax and legal advisors regarding your personal circumstances.

Investment advisory services are offered through Raymond James Financial Services Advisors, Inc.  Mike Brown Financial Group is not a registered broker/dealer and is independent of Raymond James Financial Services.

Links are being provided for informational purposes only.  Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors.  Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members.

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP^®, CERTIFIED FINANCIAL PLANNER^™,   and   in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.