Wealth and Wisdom: Week of February 13, 2023

We have officially entered wait-and-see mode for the U.S. economy. A strong labor market – with the lowest unemployment rate (3.4%) we’ve seen since 1969 – has the Fed pondering at least one more small hike in interest rates.

Inflation continues to fall, however, and there’s a growing counter-argument that the Fed should pause for now and wait for signs that the economy is slowing enough to vanquish inflation without tipping into recession.

If that happens, policymakers will have pulled off the elusive “soft landing” – considered all but impossible just a few months ago. For now, we wait. And get our taxes done.

Income taxes are different this year

As the pandemic passes into the rear-view mirror, so do many of the tax breaks that came with it. (Reading time: 4 minutes)

Reporting Roth conversions

Paying taxes on a Roth IRA conversion can be tricky – and so can deciding what time of year is best to do one. (Reading time: 4 minutes)

What recession?

Most economists are predicting a mild economic downturn later this year – but this insightful piece from The Atlantic makes a good counter-argument. (Reading time: 6 minutes)

Lessons from 95 years of market data

Stocks, bonds, and cash are the basic building blocks of an investment portfolio – and they each come with pros and cons. (Reading time: 3 minutes)

How I discovered Warren Buffett

I remember reading this article when I was in college, then I read the book cover to cover – likely the first one ever written about the greatest investor of all time. (Reading time: 6 minutes)

Don’t call it a ‘budget’

We all have finite resources to spend each month. Here’s how to make sure you deploy them where they’ll do you the most good. (Reading time: 6 minutes)

Will 2023 be your retirement year?

Answer these 7 questions first – some of which have nothing to do with money. (Reading time: 4 minutes)

Fighting off boredom in retirement

You’ve got plenty of time – and ample (let’s hope) financial resources. That combination can create some interesting opportunities. (Reading time: 4 minutes)

Patience can pay off with Social Security

If you can afford to wait, postponing your benefits can mean hundreds of thousands in extra retirement income. (Reading time: 5 minutes)

Shopping for Medigap insurance

These policies can cover much of what Medicare doesn’t – and there are many to choose from, depending on your needs and budget. (Reading time: 6 minutes)

Words to the Wise

“An investor needs to do very few things right as long as he avoids big mistakes.”
– Warren Buffett

Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional.

The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete, it is not a statement of all available data necessary for making an investment decision, and it does not constitute a recommendation. Any opinions are those of Brown Family Wealth Advisors and not necessarily those of Raymond James. Investing involves risk and you may incur a profit or loss regardless of strategy selected. Expressions of opinion are as of this date and are subject to change without notice. Past performance does not guarantee future results. Prior to making an investment decision, please consult with your financial advisor about your individual situation.