Wealth and Wisdom: Week of February 14, 2022
A new report shows household debt in the U.S. jumped by more than a trillion dollars in 2021 – the most since 2007 – just in time to see interest rates on that debt increase as soon as next month. Adding insult to injury, consumer prices continue climbing, more negative side effects from years of easy money.
Looks like we’ll have plenty to talk about this Sunday on The KMOX Money Show from 3 to 5 p.m. on KMOX-AM 1120. You should stop by!
Interest rates and bonds
With rates set to start rising next month, does it still make sense to have bonds in your portfolio? (Reading time: 4 minutes)
Adjust your tax withholding now
Unless you’re okay with lending your money interest-free to the IRS for a year, this is a good time to adjust your withholding. (Reading time: 3 minutes)
How to boost your credit score
Use these five tips to improve your credit score this year – and bring down the cost of borrowing money. (Reading time: 6 minutes)
If you’ve inherited an IRA
The rules have changed, and they can be confusing. Here’s what to do if you have inherited a traditional or Roth IRA. (Reading time: 6 minutes)
Finding a real estate agent
A comprehensive resource on selecting, vetting, and working with someone to help you buy or sell a home. (Reading time: 12 minutes)
Frugal and happy in retirement
How retirees can save on housing, transportation, food, health care, entertainment, clothing, and more. (Reading time: 5 minutes)
How Social Security spousal benefits work
Even if you haven’t worked enough to earn your own benefit, you might qualify for retirement income through a working spouse. (Reading time: 4 minutes)
Insurance against living too long
Qualified longevity annuity contracts (QLACs) can provide steady income later in life – and may help you manage RMDs in the process. (Reading time: 8 minutes)
Good news you probably didn’t hear in 2021
If you’re convinced the world is a bad place and all the news is negative – maybe you haven’t looked hard enough for the good stuff. (Reading time: 30 minutes)
Mike’s Pro Tip of the Week
Did you know the life of printer cartridges can change dramatically – based on which fonts you choose? I’m told most ink cartridges will last up to 30% longer if you use Calibri, Times New Roman, or Century Gothic instead of Arial. You can also stretch your cartridge’s life expectancy by using condensed or light versions of fonts.
Words to the Wise
“If we could sell our experiences for what they cost us, we’d all be millionaires.”
– Abigail Van Buren
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