Wealth and Wisdom: Week of March 13, 2023

Five percent? Six percent? Do I hear six-and-a quarter?

Fed Chair Jerome Powell is delivering a sobering dose of reality to investors – and the reception has been less than favorable. Powell told Congress last week that surprising strength in the U.S. economy – and persistent inflation – will likely lead the Fed to keep hiking interest rates well beyond the unofficial 5% target set just a few months ago. It appears rates will stay higher, and for longer.

What’s driving the economy’s resilience? Largely it’s been women returning to the workforce after the pandemic. Women have gained more jobs than men for the last four months – and now hold nearly half of all nonfarm jobs. The ongoing worker shortage is also driving up how much they earn, which is causing growth in consumer spending.

Money stuck in China

Remember when the experts told us we just had to have part of our portfolio invested in the world’s fastest-growing economy? (Reading time: 2 minutes)

Can the media make you a better investor?

Perhaps. Especially if you’re willing to do just the opposite of what they tell you. (Reading time: 5 minutes)

Waiting to claim Social Security

A bipartisan group of senators wants to make sure you to know what you’re giving up when you file early for Social Security benefits. (Reading time: 4 minutes)

5 big winners from SECURE Act 2.0

The new law makes it easier to save more for retirement – especially for these groups. (Reading time: 5 minutes)

What to do when your tax documents are missing or wrong

Is your W-2 form wrong? Are you missing 1099s? Here’s how the IRS recommends handling it on your tax return this year. (Reading time: 2 minutes)

Are you a victim of ‘lifestyle creep’?

It’s when your expenses keep growing at least as fast as your paycheck. Here’s how to fend it off and get ahead. (Reading time: 3 minutes)

Retiring with student loans

Student loan debt is 20 times what it was 15 years ago for those over age 60 – posing a huge threat to retirement lifestyles. (Reading time: 9 minutes)

Can you negotiate your medical bills?

Yes, you can – and you should – especially if you feel you’ve been overcharged or treated unfairly. (Reading time: 7 minutes)

Getting your financial house in order

Get some tips on organizing and protecting your financial information in our latest client webinar. (Running time: 45:46)

Your kids don’t want your old dinnerware

Here’s a list of 10 things your children would probably prefer that you sell or give away when you downsize. (Reading time: 3 minutes)

Words to the Wise

“Do not save what is left after spending, but spend what is left over after saving.”
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.

Links are being provided for informational purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members.

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.