Wealth and Wisdom: Week of May 24, 2021
It was great being with you on KMOX yesterday – a rare opportunity during baseball season. And a warm welcome to all of you reading Wealth and Wisdom for the first time. It’s great to have you with us!
Investor are in the process of sorting out several positive developments – a growing economy, surging corporate profits, the waning pandemic – with several potential negatives – higher inflation, higher interest rates, higher taxes – and that’s been causing some choppy markets in recent days. Still, market volatility has actually been in a downtrend since stock prices bottomed in March of 2020.
And so it goes. Have a great week!
How much money do you need to be comfortable?
A new survey says we have lowered our sights considerably as a result of the pandemic. (Reading time: 2 minutes)
Higher HSA limits for 2022
If you have a health savings account, you’ll be able to put more money into it next year. (Reading time: 1 minute)
Scammers want you to buy them lunch
It’s not enough that they’ve got your credit card and Social Security numbers – now cybercriminals are going after your home deliveries. (Reading time: 4 minutes)
How much are you really paying in taxes?
The average American will pay more than half-a-million dollars in different kinds of taxes over their lifetime. (Reading time: 4 minutes)
4 reasons to consider a Roth IRA conversion
Paying taxes now might mean paying less in taxes down the road. (Reading time: 6 minutes)
An IRS goof you need to know about
It has to do with how quickly you have to withdraw money from an inherited IRA. (Reading time: 4 minutes)
Annuities in 401(k)s
They are still often expensive and hard to understand – but if you’re looking for guaranteed retirement income, this option might help. (Reading time: 4 minutes)
12 money management tips that aren’t taught in schools
Some things you just have to learn on your own. (Reading time: 8 minutes)
How to build a good credit score
Follow this simple, 3-step ‘recipe’ to increase and maintain your creditworthiness. (Reading time: 4 minutes)
Mike’s Pro Tip of the Week
Could you find the time to make one phone call if it saved you nearly $100 every year? Try calling your credit card company and ask them to waive your annual fee. All they can do is say no – but if you make a solid case, it could prove to be a nice annual return on a few minutes of effort each year.
Words to the Wise
“One lesson of the pandemic is that humanity’s desire
for normalcy is an underrated force, and there is no
single mistake as common to political analysis as
the constant belief that this or that even will
finally change everything.”
– Ezra Klein
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