Wealth and Wisdom: Week of April 19, 2021

We’ve now gotten our first official indication of rising inflation: the Labor Department reports that prices increased sharply last month. The consumer-price index jumped 2.6% for the year ended in March, which is still a reasonable inflation rate – but the highest level we’ve seen since late 2018.

The financial markets seem to be taking it all in stride, along with every other piece of negative news these days it seems. There’s a growing consensus that the U.S. economy may be poised for an even stronger recovery than first thought.

Meanwhile, let’s enjoy some nice St. Louis spring weather while we have it. If this is like most years, summer should be here in about half an hour. Have a great week!

What happens after big market surges?

Stocks have been on a tear for more than a year now. Can history give us a clue as to what comes next? (Reading time: 4 minutes)

College debt regret

More than half of older millennials who took out student loans to pay for college now say it wasn’t worth it. (Reading time: 6 minutes)

Creative financing

Even in a hot housing market, it’s still possible to buy a home with less than a 20% down-payment. (Reading time: 5 minutes)

April is Financial Literacy Month

Financial literacy means understanding and managing your finances. Here’s how to develop the skills you need. (Reading time: 9 minutes)

How much do you know about Social Security?

Take this brief quiz to see how well you know the basics. Just 3% of people about to retire got all 12 answers correct. (Reading time: 4 minutes)

Before you hit the road

If you’re on Medicare, find out what it covers – and what it won’t – depending on where you travel. (Reading time: 4 minutes)

The pending pension crisis

Cities and states across the country are discovering they can’t pay for all the promises they made retirees – and you could get stuck with the bill. (Reading time: 3 minutes)

Surviving financial hardship

The pandemic has dealt us all a tough hand. Follow these 8 steps to bounce back. (Reading time: 6 minutes)

17 ways to get free gift cards

If you’re willing to spend the time – and know where to look – there are dozens of ways to find freebies. (Reading time: 9 minutes)

Mike’s Pro Tip of the Week

UNSUBSCRIBE. Spend 10 minutes every day this week looking through all those emails, newsletters, special-deal alerts, and other potential time-wasters that fill up your inbox. Start weeding out the ones that aren’t helping you improve your financial life. You’ll save all the time you would have spent deleting them in the future, and you’ll save money by cutting back on impulse spending. Simplify.

Words to the Wise

“My advice to other retirees is to stay busy, stay healthy, avoid falling prey to scary news headlines, and spend time doing those things that bring you and others joy and fulfillment. Put your financial life on auto-pilot to the extent possible, and be grateful for the good things each of us has.”
Robert Cochran

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