Wealth and Wisdom: Week of March 14, 2022
I don’t have to tell you that gasoline has gotten a lot more expensive in the last few weeks, and it’s adding to an already-high inflation rate. That will push the Federal Reserve into action when it meets this week – expectations are that the Fed will raise interest rates by a quarter-percent, or 25 basis points. This will likely be the beginning of a series of interest-rate hikes that could run well into next year.
These are some serious challenges – to the global economy, financial markets, and to your own personal finances. It’s time to pay attention now. Think twice about how you spend your money. Take advantage of opportunities to save. But keep your focus on the long-term – the reasons you’re saving and investing in the first place – and try to see past today’s problems. We will get through this.
Protecting yourself from record gas prices
Gasoline prices are at record levels and could be heading higher. Here’s how to spend less at the pump. (Reading time: 3 minutes)
Inflation is pushing some folks to the limit
Wages are increasing, but not fast enough to keep pace with rising inflation. (Reading time: 2 minutes)
Should you worry about a Russian cyberattack?
Security professionals say the threat is real and growing. Here are some tips for shoring up your own defenses. (Reading time: 5 minutes)
Markets remain volatile but resilient
Current events are making investors nervous – but if history is any guide, your best bet is to sit tight. (Reading time: 3 minutes)
7 Lessons from The Richest Man in Babylon
You should have read this timeless financial classic by now. If not, start with this summary. (Reading time: 12 minutes)
Considering an early-retirement offer
Ask yourself these questions before you seriously consider leaving your job before you planned to. (Reading time: 9 minutes)
It’s about more than the money
There are at least five things this blogger wishes he had done differently when it came to retiring. (Reading time: 4 minutes)
Starting a business from home
If working from home has you thinking about making it a career, here are seven ideas to consider. (Reading time: 6 minutes)
Time to tweak your withholding
Don’t lend your money tax-free to the IRS this year. Use this online calculator to decide how to fine-tune your withholding. (Reading time: 5 minutes)
Mike’s Pro Tip of the Week
Gasoline prices are likely to stay elevated for a while. Use GasBuddy.com to scout for locations near you where prices are lowest. If you live in the St. Louis area, start here.
Words to the Wise
“An iron rule of investing is that almost nothing is certain and the best we can do is put the odds of success in our favor.”
Morgan Housel
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