Wealth and Wisdom: Week of July 12, 2021
It’s back to basics this week as we settle into the second half of 2021 – which includes helping you steer clear of some potentially expensive financial mistakes.
And check out this recent blog post on tracking down any missing money that belongs to you.
Have a great week!
Rebuilding your emergency reserves
If you’re getting back on your feet after the pandemic, start by putting a solid foundation under them. (Reading time: 5 minutes)
The ‘One Number’ Budget
Simplify – and control – your monthly spending with this basic approach. (Reading time: 3 minutes)
Keeping your financial information safe
Cybersecurity is a big deal right now – and it starts with a few simple habits you can adopt before something happens to you. (Reading time: 4 minutes)
Avoiding costly mistakes
Sometimes it’s what you decide not to do that makes the biggest difference with your finances. (Reading time: 6 minutes)
Patience is a virtue
A fascinating essay by Morgan Housel on people who failed because they couldn’t wait to succeed. (Reading time: 6 minutes)
Social Security spousal benefits
Filing for retirement benefits early could also mean a smaller Social Security check for your spouse. (Reading time: 4 minutes)
Retirement tax traps
Even if income tax rates don’t change soon, make sure you understand how these “stealth taxes” can impact your retirement. (Reading time: 8 minutes)
Stress-test your retirement plan
Hoping for the best – while planning for the worst. (Reading time: 5 minutes)
Estate planning checklist
If you think a simple will is all you need to get your affairs in order, you should probably think again. (Reading time: 3 minutes)
Mike’s Pro Tip of the Week
Stop buying bottled water. The average American consumes more than 45 gallons of bottled water each year at a price that’s typically higher than gasoline or milk – and it’s bad for the environment to boot. The U.S. has some of the safest drinking water on the planet – but if you don’t like what’s coming out of your tap for some reason, buy your own filtration system and use the money you’ve been wasting to pay off your credit cards. (Besides, nobody thinks you look cool with your bottle of imported glacier natural ice mountain spring clear life-nourishing smart water anymore, anyway.)
Words to the Wise
“Sometimes I wonder whether the world is being run by smart people who are putting us on – or by imbeciles who really mean it.”
Mark Twain
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