Wealth and Wisdom: Week of February 15, 2021
Looks like I’ll have at least one more KMOX Money Show before spring training gets underway. I hope you can join me this Sunday, February 21 from 3-5 pm.
I am also adding two new posts to our blog every week now. You will find Wealth and Wisdom there, including back issues. And I’m writing new material on a variety of subjects – the latest being Mileposts for your Financial Journey, which gives you some guidelines on where you should be financially based on your age, as well as what you can do to get there. Just keep in mind that every individual’s situation is different.
Now, enjoy some Wealth and Wisdom as you thaw out from the weekend!
Does raising the minimum wage make sense?
Recent research projects raising the federal minimum wage to $15 an hour would lift 900,000 Americans out of poverty – but cost 1.4 million their jobs and increase the budget deficit by $54 billion. (Reading time: 5 minutes)
A surge in new businesses
Despite an economic recession caused by the coronavirus pandemic, entrepreneurs launched new businesses at a record pace in 2020. (Reading time: 4 minutes)
Booking your next cruise
You’ll probably need proof you’ve been vaccinated before you set sail again. (Reading time: 3 minutes)
Before you retire to Florida…
This Midwesterner discovered that moving to the Sunshine State has pros – and cons. (Reading time: 5 minutes)
How to set investment priorities
If there’s a limit to how much you can save – and of course there is – how do you decide where to put your money? (Reading time: 4 minutes)
The magic of compounding
Start creating your “wealth snowball” and let time take care of the rest. (Reading time: 7 minutes)
That snowball idea works equally well when it comes to paying off your debts with extra payments. (Reading time: 4 minutes)
The case for fixed-income
With interest rates stubbornly low, does it still make sense to have bonds in your portfolio? (Reading time: 4 minutes)
How to figure cost basis
Knowing this number – and how to adjust it – can save you dollars and headaches at tax time. (Reading time: 5 minutes)
Mike’s Pro Tip of the Week
Don’t even think about investing until you’ve built a solid foundation to stand on. Start with $100 – then $1,000 – until you’ve got enough cash to help protect you from your next financial emergency.
Words to the Wise
“If you can’t save enough money, be really nice to your kids.”
– Dan Ariely
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.