Wealth and Wisdom: Week of March 28, 2022
The Fed is coming out with both barrels against inflation now, warning that it may raise interest rates even more than it promised just a week ago. That means it’s time to pay off your high-interest debts, like credit cards, and make other lifestyle adjustments that will help you get through the rest of this year, which could be a challenge.
Please join me this coming Sunday, April 3 from 3:00 to 5:00 p.m. for The KMOX Money Show – one of our last chances to get together on the radio before Cardinal baseball is in full swing. You know we’ll have lots to talk about!
War puts some investors on hold
A new survey shows the Russia-Ukraine war is causing many investors to freeze in their tracks – and history shows that could be a big mistake. (Reading time: 3 minutes)
Another potential mistake: ARMs
The recent surge in home prices – and now mortgage rates – has homebuyers turning to adjustable-rate mortgages, a risky decision. (Reading time: 4 minutes)
How interest rates combat inflation
Here’s a quick primer on how the Fed sets rates, how that impacts the economy – and how it all affects you. (Reading time: 6 minutes)
Could we get an ‘inverted yield curve’?
When short-term interest rates get higher than long-term rates, it’s often a warning sign for the economy. But not always. (Reading time: 3 minutes)
The Pandemic Bear Market of 2020
It’s been two years since one of the sharpest, quickest bear markets on record. What lessons did we learn that can be applied today? (Reading time: 4 minutes)
Hedging yourself against inflation
If your goal is to protect yourself from the ravages of rising prices – you’d be well-served to look beyond your portfolio. (Reading time: 5 minutes)
Planning is the key
Turbulent times like these might seem an odd time to sit down and make a plan for your future – but it’s actually the best time. (Reading time: 5 minutes)
Good news if you have medical debt
Medical bills are the largest source of personal debt among Americans – but much of it may soon disappear from your credit report. (Reading time: 3 minutes)
Second career, anyone?
10 types of employers looking for older workers. (Reading time: 4 minutes)
Mike’s Pro Tip of the Week
If inflation is eating into your lifestyle, you can either find ways to earn more or spend less. The quickest approach is to focus on big budget categories where you spend frequently – such as the grocery store. Here are eight good ideas to put on your shopping list.
Words to the Wise
“About the time we can make the ends meet – somebody moves the ends.”– Herbert Hoover
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