Wealth and Wisdom: Week of July 31, 2023
One more and done? The Federal Reserve raised interest rates another quarter-point last week. And while successfully bringing inflation down over the past year, the Fed warned that it will keep a watchful eye for any resurgence going forward.
If all goes according to plan, we might not see any further rate hikes for a while. Home prices have actually fallen in each of the last two months, but the jobs market remains strong – meaning that while the Fed may have stopped pumping the brakes, it will likely keep its foot near the pedal.
Higher Medicare premiums in 2024
A new Alzheimer’s treatment will likely drive up Medicare Part B premiums next year. (Reading time: 4 minutes)
Does any of this $300 billion belong to you?
Americans have somehow forgotten about hundreds of millions of dollars in abandoned 401(k) accounts in just the last couple of years. (Reading time: 4 minutes)
Investing like the 1%
Here’s a breakdown of who owns what – and how to flip the script if you don’t like where you stand. (Reading time: 3 minutes)
Are you addicted to ‘investment junk food’?
There is so much financial information out there these days – but like junk food, most of it just isn’t very filling. (Reading time: 3 minutes)
Check your watch
This relatively new economic indicator tracks how much we spend on luxury items – and it’s currently trending downward. (Reading time: 1 minute)
Avoiding common financial scams
My firm has compiled a list of popular financial rip-offs – and how to protect yourself from them. (Reading time: 4 minutes)
Using credit cards to build credit
Alternative credit cards can help you show lenders you are a good credit risk – without paying high finance charges. (Reading time: 6 minutes)
Holding out for higher benefits
Waiting until age 70 to file for Social Security is harder than it sounds. Here are five ways to make it a little easier. (Reading time: 4 minutes)
Shopping for a financial advisor
Finding qualified financial advice begins with asking a lot of questions – including some you should ask yourself first. (Reading time: 8 minutes)
10 hobbies that can make you money
My family is always telling me I need a hobby. They didn’t tell me I could also make money doing it. (Reading time: 5 minutes)
Words to the Wise
“Investing is a popularity contest, and the most dangerous thing is to buy something at the peak of its popularity. At that point, all favorable facts and opinions are already factored into its price, and no new buyers are left to emerge.”
– Howard Marks
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