Wealth and Wisdom: Week of September 25, 2023

As expected, Federal Reserve policymakers are taking a wait-and-see approach when it comes to changing interest rates – which are now at a 22-year high. Fed chairman Jerome Powell says another rate hike might be coming, given inflation’s recent uptick to 3.7%. Many investors, however, now believe volatile energy prices are making inflation appear worse than it is – car prices and rents are actually falling – and that hiking rates again would damage the economy.

So it remains to be seen whether the next move in interest rates will be up or down – and that’s getting some people anxious. It seems most folks can’t buy the notion that successful investing doesn’t require constant buying and selling (see the second item in this week’s list of ideas below).

America’s looming challenges

Persistent inflation, more rate hikes, out-of-control government spending, and another possible shutdown. It’s business as usual in the U.S. capital. (Reading time: 4 minutes)

The art of sitting still

One of our favorite wineries in Napa Valley is Far Niente – which is Italian for “pleasant idleness.” That’s a pretty decent investment philosophy, too. (Reading time: 3 minutes)

Trapped by a cheap mortgage

Millions of homeowners would like to move somewhere else – but they can’t afford to swap their current low-rate mortgage for a more expensive one. (Reading time: 4 minutes)

HSAs and Medicare

Health savings accounts can be a tax-efficient way to pay for healthcare in retirement – but when Medicare enters the picture, things can get tricky. (Reading time: 3 minutes)

3.2% COLA for Social Security next year?

It won’t be official for a few weeks yet, but Social Security recipients will likely get a 2024 inflation adjustment that’s less than half of this year’s. (Reading time: 3 minutes)

Calculate your benefits online

Here’s a list of 10 free online tools designed to help you decide when to file for Social Security retirement benefits. (Reading time: 7 minutes)

Steer clear of these retirement planning missteps

Heed the warnings of today’s retirees, who wish they had a do-over on these common mistakes. (Reading time: 6 minutes)

State of the Nation: 2023

Some fascinating facts about where we stand as a country – financially and otherwise. (Reading time: 8 minutes)

What to do with that old smartphone

There may be some creative – and lucrative – options for your obsolete electronic devices. (Reading time: 2 minutes)

The lottery curse

You don’t need to win the lottery to be financially successful. In fact, striking it rich might actually be the worst thing that ever happens to you. (Recording time: 10 minutes)

Words to the Wise

“Success is simply a matter of luck. Ask any failure.”

– Earl Wilson

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