Wealth and Wisdom: Week of December 25, 2023

This will be our final edition of Wealth and Wisdom for 2023, but worry not – I am leaving you with a bounty of great stuff to wrap up the year. And if you only have time during this hectic season to read one article, make sure you get to the last item below – the latest missive from Morgan Housel on why you shouldn’t pay too much attention to today’s financial news headlines. Could be a real time-saver for you in the New Year!

Let me thank you so much for your support of my book, Your Way to True Wealth, which we released in early June. The book became an instant Amazon bestseller and was named a Gold Winner by the Nonfiction Authors Association. I sincerely appreciate those of you who bought the book and those who posted some very kind comments about it on Amazon.

We’ve got some big things coming in 2024 – including a new podcast series and several public seminars – so stay tuned. In the meantime, all of us at Brown Family Wealth Advisors wish you and your loved ones a joyous holiday season, and a healthy and prosperous New Year!

Investing is never easy

And it isn’t supposed to be. Here’s a quick review of the challenges investors have had to overcome this year. (Reading time: 4 minutes)

Should you have everything in stocks?

In theory, perhaps yes. But the real world is a much different place. (Reading time: 4 minutes)

4 financial resolutions for 2024

Let 2024 be the year that you get your financial beneath you – and keep more of what you earn. (Reading time: 4 minutes)

How retirement investing will change next year

A slew of new rules, limits, and tax brackets go into effect on January 1. Here’s what retirement savers and retirees should know. (Reading time: 6 minutes)

Roth IRA conversions in the year ahead

Take a good look at this strategy next year to see how much it might save you in taxes over the rest of your life. (Reading time: 9 minutes)

Will you be retiring in 2024?

Here’s a useful checklist to work through if you plan to stop working next year. (Reading time: 5 minutes)

Or will you just semi-retire?

A growing number of Americans are easing into retirement by doing it in stages. (Reading time: 5 minutes)

Don’t fall for this gimmick

So-called “deferred interest” plans offer free financing on the things you buy. Here’s why most Americans think the practice it should be outlawed. (Reading time: 6 minutes)

Protecting what you’ve built

Umbrella insurance can help you pay when standard liability coverage reaches its limits. (Reading time: 3 minutes)

This just in: ‘Long-Term News’

Another instant classic from my favorite financial author, Morgan Housel – on the news headlines he would like to see. (Reading time: 3 minutes)

Words to the Wise

“Wealth, in fact, is what you don’t see. It’s the cars not purchased. The diamonds not bought. The renovations postponed, the clothes forgone and the first-class upgrade declined. It’s assets in the bank that haven’t been converted into the stuff you see.”

– Morgan Housel

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