Wealth and Wisdom: Week of January 10, 2022
I am happy to say (fingers crossed) that we have resolved the issue some of you were having with viewing Wealth and Wisdom. Recent operating system updates on some of your smart devices were making our emails unreadable. We are now linking you directly to our website as soon as each issue is posted.
In the last couple of weeks several of you have noticed with interest the area of the site entitled Our Philosophy and Guiding Principles. I welcome you to read it when you have time, making sure you click on each of the 10 beliefs. They might just add a bit of perspective to what you’re doing, while helping you understand how we think about investing and wealth management.
Have a wonderful week!
Has the pandemic actually made us richer?
Collectively, yes. But the richest and poorest Americans have seen their net worth increase the most since the pandemic began. (Reading time: 3 minutes)
10 things you’ll pay more for this year
Inflation is starting to pinch our budgets, especially in these areas. This article also includes tips on holding down your costs. (Reading time: 6 minutes)
Rate hikes are coming
Inflation has prompted the Fed to consider several interest rate hikes this year. Will that cause a correction in stock prices? (Reading time: 4 minutes)
Consider boosting your 401(k) contribution
The limits are higher in 2022 – and this is the perfect time of the year to bump up what you’re saving for retirement. (Reading time: 3 minutes)
What about IRAs and Roth IRAs?
Here’s a quick refresher on this year’s contribution limits, deductibility, and withdrawal rules. (Reading time: 4 minutes)
Facing financial fears in retirement
Use these ideas to start tackling the financial worries that are keeping you up at night. (Reading time: 5 minutes)
2022 Social Security changes
Get ready for that nice 5.9% cost-of-living increase – but be prepared to pay a lot more for Medicare Part B. (Reading time: 5 minutes)
Appealing Medicare surcharges
Medicare can get much more expensive if your income exceeds certain levels, but you might catch a break – if you ask for it. (Reading time: 3 minutes)
Teaching our children about money
Missouri is one of only six states that require personal finance courses in high school. It’s time to fix that costly mistake. (Reading time: 5 minutes)
Mike’s Pro Tip of the Week
Here’s a dilemma: You’d like to save money on your monthly bills – like cable and internet – but you can’t afford the time it takes to haggle with your service providers for lower rates. If that sounds familiar, you might consider hiring a bill-negotiation firm that earns a percentage of whatever it can save for you. BillShark and BillCutterz are two of the more widely-known names.
Words to the Wise
“The world we have created is a product of our thinking. It cannot be changed without changing our thinking.”
Albert Einstein
Neither Brown Family Wealth Advisors nor its employees provide tax and legal advice. Please consult your tax and legal advisors regarding your personal circumstances.
Investment advisory services are offered through Raymond James Financial Services Advisors, Inc. Brown Family Wealth Advisors is not a registered broker/dealer and is independent of Raymond James Financial Services.
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