Wealth and Wisdom: Week of January 23, 2023

We got some welcome news last week, when it was announced that wholesale prices – the producer price index – actually fell sharply in December. Rising prices could remain with us for a while, but we’re seeing more evidence that the rate of increase has peaked.

I’m sharing several ideas with you this week that can help you hold your spending in check in 2023, and be sure to read the second item below – a clever strategy for taking advantage of those “extra” paychecks you might be earning twice each year.

New rules for IRAs in 2023

Here are this year’s update contribution limits, deductibility rules, withdrawal requirements, and Roth IRA eligibility guidelines. (Reading time: 4 minutes)

A bi-weekly paycheck strategy

If you get paid every two weeks, you receive two “bonus” paychecks each year. That creates an opportunity for you to get ahead on your goals. (Reading time: 3 minutes)

How to use ‘zero-based budgeting’

Here’s a 7-step process for giving every dollar you earn a job this year. (Reading time: 7 minutes)

Being a cheapskate can backfire on you

There are lots of good ways to cut spending to combat inflation. Just don’t waste money by overdoing it. (Reading time: 5 minutes)

Where to find bargains all year long

Here’s a month-by-month breakdown of what goes on sale and when each year – to help you plan your spending. (Reading time: 7 minutes)

I’m starting to really like this guy

I’ve been enjoying and admiring Richard Quinn’s blog on the HumbleDollar website for some time. This week, he takes on the FIRE movement. (Reading time: 4 minutes)

Catching up on retirement saving

It’s never too late to save for retirement. Here are some tips for getting yourself in gear. (Reading time: 5 minutes)

Boomers are getting tired of junk mail about Medicare

They’re getting bombarded more than ever by confusing and sometimes scary sales pitches from private insurance companies. (Reading time: 5 minutes)

When you die without a will

Losing you would be bad enough for your loved ones to deal with. Don’t make it harder on them by leaving them without instructions. (Reading time: 5 minutes)

Shore up your privacy in 2023

Why you should ignore online quizzes – and more. (Reading time: 2 minutes)

Words to the Wise

“If you spend 15 minutes a year studying the economy, that’s 10 minutes too many.”
– Peter Lynch

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