Wealth and Wisdom: Week of July 18, 2022

We got another ugly report on inflation last week – the worst one so far. The consumer price index soared 9.1% in June from a year ago, even higher than economists were predicting. Prices are now climbing at the highest rate in nearly 41 years.

The talk had been that there might be signs that inflation is peaking, but even after taking out volatile food and energy prices, the “core” inflation rate was 5.9% – also higher than expected. It appears we’ll have to wait a little longer for better news.

Meanwhile, we look for ways to cope with rising costs, rising interest rates, and rising recession risks until the storm blows over.

Outrunning the storm

A growing number of people feel that a recession is coming – if it isn’t here already. Here are five ways you can prepare.  (Reading time: 4 minutes)

Will ARM resets trigger the next crisis?

Some excellent and reassuring analysis from economists Brian Wesbury and Bob Stein.  (Reading time: 2 minutes)

Handling higher housing costs

Rising mortgage rates have driven up the cost of owning a home – and it might be time to update your strategy. Here are some ideas.  (Reading time: 4 minutes)

Fighting inflation when saving for retirement

Higher prices have made it harder to save for retirement – but it has also created some opportunities.  (Reading time: 3 minutes)

Silver lining: Europe is on sale

Assuming you can get there, the strong U.S. dollar is making this a great time to visit the Continent.  (Reading time: 4 minutes)

Is canceling student debt a good idea?

Canceling billions in student debt isn't just unfair to those who chose to play by the rules; it could be bad policy for all of us.  (Reading time: 4 minutes)

5 retirement misconceptions

Laboring under any of these false assumptions could come back to haunt you.  (Reading time: 4 minutes)

Retiring single

By fate or by choice, a growing number of Americans retire without a spouse. Here are 17 tips for making it work.  (Reading time: 8 minutes)

We’ve launched The True Wealth Podcast

I hope you can give this a listen and tell us what you think.  (Running time: 8:23)

Mike’s Pro Tip of the Week

College is more expensive than ever, and some people are starting to wonder if it’s worth the money. The U.S. Department of Education’s College Scorecard can help you decide what you can afford, where you can attend, and what return you might see on your investment.

Words to the Wise

“I have enough money to last me the rest of my life – unless I buy something.”
Jackie Mason

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