Wealth and Wisdom: Week of August 15, 2022

At last, a little good news on inflation. Consumer prices, as a whole, stopped going up in the month of July. Year-over-year, inflation is still running at 8.5%, but that’s a marked improvement over June’s 9.1% rate. That will take some pressure off the Fed and its campaign to ramp up interest rates – especially if the positive trend continues.

Wealth and Wisdom will be on a brief summer hiatus for the next few weeks. I look forward to rejoining you the week of September 12. Enjoy the rest of your summer!

Online prices are suddenly dropping

The pandemic drove e-commerce prices sharply higher every month for more than two years. Now, the trend seems to be reversing. (Reading time: 2 minutes)

A 3-step plan to beat inflation

Even if inflation has peaked, higher prices will likely be around for a while. To minimize the damage, ask yourself these three questions. (Reading time: 3 minutes)

IRS has IRA beneficiaries confused

Owners of recently-inherited IRAs are waiting for the IRS to make up its mind on how much they are required to withdraw each year. (Reading time: 3 minutes)

What are you willing to do to save Social Security?

Americans sound off on what changes they want Congress to make in order to shore up Social Security’s finances. (Reading time: 6 minutes)

The biggest financial risk retirees face

Retirees worry about healthcare, inflation, and the markets. But new research suggests there is an even greater risk they may not be seeing. (Reading time: 4 minutes)

Planning for retirement as a couple

When it comes to designing retirement, two heads really are better than one. (Reading time: 6 minutes)

The 7 levels of financial freedom

Author Grant Sabatier believes there are seven steps to financial freedom. See which level you’re on – and how to get to the next one. (Reading time: 5 minutes)

Do employees need ‘financial wellness’ benefits?

Health insurance and a retirement plan are a good start – but how about teaching workers how money actually works? (Reading time: 7 minutes)

Why you need to take a home inventory

Recent floods are a stark reminder of the importance of documenting what you own. (Reading time: 5 minutes)

Mike’s Pro Tip of the Week

The housing market is showing signs of cooling off, so if you’re still thinking of selling at today’s high prices, look for what will attract buyers. You might want to start with the color of your front door.

Words to the Wise

“Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give.”
William A. Ward

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