Wealth and Wisdom: Week of March 21, 2022
Inflation at the wholesale level are now rising at an annual rate of 10% as of February, largely due to the recent spike in oil prices. Oddly enough, that was less than expected.
The Federal Reserve has kicked off its campaign to hike interest rates in response – voting for a quarter-point increase last week. It will likely be the first of many rate hikes extending into 2023.
Coping with inflation
Higher prices will be around for a while. Here are some ideas for keeping your spending under control. (Reading time: 4 minutes)
Inflation: Another point of view
Inflation is nothing new – it just hasn’t been a concern for about 40 years. We adapted then, and we can adapt now. (Reading time: 5 minutes)
Pessimism is a terrible investment strategy
There have always been reasons to sell stocks – but in hindsight they’ve almost all been wrong. (Reading time: 3 minutes)
Pundits and professionals
There are two kinds of people you can turn to for financial advice. Choose carefully. (Reading time: 2 minutes)
Retirees, your economy needs you
Tom Brady’s retirement only lasted 40 days. Should baby boomers follow his lead and get back to work? (Reading time: 3 minutes)
What one more dollar can do to your tax bill
Adding just one dollar to your income can wind up costing you hundreds more in other taxes. Here’s what to keep an eye on. (Reading time: 3 minutes)
Which tax documents to save, which to shred
Here’s a helpful rundown of which documents you should keep – and for how long – and which you can get rid of. (Reading time: 9 minutes)
Financial spring cleaning
Tax season is a great opportunity to get organized once and for all – and save some money in the process. (Reading time: 4 minutes)
Throwing away money
Flexible spending account owners could be forfeiting more than a billion dollars this year if they don’t take advantage of this special extension. (Reading time: 4 minutes)
Mike’s Pro Tip of the Week
Tired of all the junk mail and catalogs you get in the mail – and the spending temptations they bring with them? Unroll.me is a free online service that shows you everything you’re subscribed to and helps you unsubscribe from those you don’t want to receive. CatalogChoice.org is a non-profit organization that will send merchants a catalog opt-out request on your behalf.
Words to the Wise
“Being bearish or cautious always sounds smarter than being bullish.”
– Bill Miller
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