Wealth and Wisdom: Week of June 14, 2021
I’ve shortened up your reading time – less than 4 minutes’ reading time per article – just in case you’re heading off on vacation this week. (Wealth and Wisdom makes for some pretty good beach reading, you know.)
And if you are planning a trip soon, I recently posted a blog with some travel tips that you might find helpful.
Have a great week!
Higher tax on capital gains?
President Biden wants to raise the capital gains tax to as high as 39.6% – and he wants it to be retroactive. (Reading time: 3 minutes)
The two sides of inflation
If today’s rising prices lead to higher interest rates, it could be good or bad news for savers, borrowers, and investors. (Reading time: 5 minutes)
And what about stocks?
Inflation is historically been a headwind for equities, but much depends on how much of it we get – and for how long. (Reading time: 5 minutes)
10 ways to save money on Amazon
How to get your money’s worth at the world’s largest online shopping mall. (Reading time: 4 minutes)
Learning about money at a young age
More than two dozen states are adding personal finance to their high school curriculum – and Missouri is considered a national trendsetter. (Reading time: 3 minutes)
The power of compounding
Try this online calculator from Investor.gov to see how money can grow over time. (Reading time: 1 minute)
5 tips for retirement savers
If your goal is to be financially independent by the time you retire, it pays to have a plan. (Reading time: 5 minutes)
‘4% rule’ might be too limiting
This well-known rule of thumb for retirement spending is helpful – it has lots of exceptions. (Reading time: 3 minutes)
Maximizing your Social Security
Consider these three strategies for getting as much as you deserve once you qualify. (Reading time: 4 minutes)
Mike’s Pro Tip of the Week
I’m always surprised when people tell me they didn’t realize they could contribute to both a 401(k) or similar retirement plan at work and to an IRA or Roth IRA in the same year. It’s not only permissible – it can be a great way to put away more money for retirement while potentially reducing your income taxes. Take advantage of this opportunity if you can afford to – and don’t forget the catch-up provisions if you’re age 50 or older.
WORDS TO THE WISE
“Americans are getting stronger. Twenty years ago, it took two people to carry $10 worth of groceries. Today, a five-year-old can do it.”
– Henny Youngman
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.