Wealth and Wisdom: Week of February 22, 2021
Wealth and Wisdom: Week of February 22, 2021
It was good being with you on The KMOX Money Show yesterday, and I want to welcome all of our new subscribers this morning. I think you’ll find some good material in here this week – a little something for almost everybody.
With spring training underway, the radio show will be on much less frequently between now and October. The good news is, we have this weekly email to help us stay in touch. I get emails from readers and listeners every week, and I love the feedback. I’ll do my best to answer each one.
With any luck the worst of the weather is behind us now, and spring is just 26 days away. Stay warm, stay well – and have a great week!
Pandemic fails to slow down charitable giving
The virus may have damaged American pocketbooks – but not our hearts. Plus: Tax incentives to encourage giving in 2021. (Reading time: 3 minutes)
Retirement rules are different now
Here’s a concise summary of what’s changed in recent years – worth your time when you get a chance. (Reading time: 4 minutes)
The $50-a-day-early-retirement strategy
This one will take you a little longer – but if your goal is to retire early, you’ll find some great ideas here. (Reading time: 14 minutes)
Should you pay off your mortgage before retiring?
Short answer: Yes, if you can. Long answer: There are plenty of reasons not to. (Reading time: 5 minutes)
Ramit Sethi’s 10 Money Rules
Not your run-of-the-mill lecture on cutting lattes out of your budget. You’ll like this. (Reading time: 5 minutes)
Your ‘Financial Independence Ratio’
This simple calculation should give you a good idea of how close you are to life’s ultimate financial goal. (Reading time: 5 minutes)
5 Simple Ways to Save Money
Again, nothing about lattes – just some innovative ways to cut costs and boost your savings. (Reading time: 3 minutes)
How to build a fixed-income ‘ladder’
I’ve used this clever but simple strategy for decades in the portfolios we manage – to help remove some of the guesswork about interest rates. (Reading time: 5 minutes)
Protecting your Social Security number
The pandemic is bringing information thieves out of the woodwork. Here’s how to protect yourself. (Reading time: 4 minutes)
Mike’s Pro Tip of the Week
Make it a priority to save at least enough to qualify for the full employer match in your 401(k) or similar retirement savings plan. You can’t afford to leave free money on the table every year, when it could be working for you.
Words to the Wise
“Making the complex complicated is commonplace; making the complicated simple – awesomely simple – that’s creativity.”
– Charles Mingus
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