Wealth and Wisdom: Week of December 13, 2021
The financial markets seem to have calmed down again after some recent volatility that pulled the S&P 500 down more than 5 percent. There are still several unresolved issues that will keep investors busy, however: (1) the Omicron variant’s impact on the economy, (2) interest rate hikes that may come sooner rather than later thanks to a surge in inflation, and (3) the fate of a second massive government spending bill.
I hope you can join me on KMOX this coming Sunday (Dec. 19) from 3:00 to 5:00 p.m. as we discuss these issues and more. This will likely be our last chance to get together on the radio in 2021 – and I’ll have some thoughts for you on what 2022 might bring.
Have a joyous week!
Have equity investors lost their minds?
Charlie Munger – Warren Buffett’s business partner and legendary investor – says the current market is crazier than the dot-com bubble. (Reading time: 6 minutes)
America’s gambling addiction
You can legally bet on almost anything today. Where will this obsession take us? Great piece from The Atlantic. (Reading time: 9 minutes)
Investment clubs are popular again
The pandemic has sparked new interest in investment clubs. Here are some tips on setting one up with your friends. (Reading time: 7 minutes)
College: The gift that keeps on giving
A growing number of parents would prefer contributions to their children’s 529 plans to more traditional holiday gifts. (Reading time: 3 minutes)
Support your country: Go back to work
The pandemic prompted millions of American workers to retire early – and the economy now needs them to come back. (Reading time: 4 minutes)
How retirees can shore up their finances
Working even part-time can help you make ends meet in retirement – and so can these other ideas. (Reading time: 5 minutes)
4 things to know before claiming Social Security
The answers to these questions can help you maximize the income you receive in retirement. (Reading time: 4 minutes)
Taking more than the RMD
Required minimum distributions from retirement accounts begin at age 72 – but sometimes it makes sense to withdraw even more. (Reading time: 4 minutes)
20 ways to save on health care
Health care is a major budget item that only gets bigger as you age. Here are some ideas for holding down your costs regardless of your age. (Reading time: 8 minutes)
Mike’s Pro Tip of the Week
If your money ever runs about before the month does, consider setting up a budget calendar for 2022. You can subscribe to one online or do it yourself for free, but whatever you choose, your efforts will likely pay for themselves several times over.
Words to the Wise
“A budget is people telling their money where to go instead of wondering where it went.”
– John c. maxwell
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