Wealth and Wisdom: Week of March 4, 2024

This is the time of year when the swallows return to Capistrano, gardeners mark the first blooms of daffodil and Forsythia, and Cardinal fans begin the annual countdown to Opening Day.

It’s also when serious investors eagerly await the annual pronouncement of their sage, arguably the greatest investor the world has ever known: Warren Buffett.

Mr. Buffett is 93, which seems to make each his annual letters to shareholders more treasured than the last. They offer cleverly-written insights into his thinking, modest acknowledgments of his investment successes, and a humble assessment of his rare mistakes. Each letter – and there have been 59 of them by my count – offers readers an opportunity to learn directly from the master.

I hope you’ll take a few quiet minutes to enjoy this rite of spring with me in Wealth and Wisdom – from a man who has given the world more than its fair share of both.

Buffett’s annual letter

By now, you’ve seen all the highlights of Warren Buffett’s annual shareholder letter. Here’s your chance to read the whole thing for yourself. (Reading time: 27 minutes)

What makes stocks go up over time?

Day to day, stock prices seem to move up and down randomly – but in the long run, the market tends to mirror these key fundamentals. (Reading time: 3 minutes)

20 common investment mistakes

This one might be worth printing out and hanging on to. (Reading time: 4 minutes)

An investment in our children

A new report estimates that taking a personal finance class can be worth roughly $100,000 over the course of a student’s life. (Reading time: 4 minutes)

Is H&R Block deleting tax records?

The Federal Trade Commission claims the giant tax preparer is deleting the tax data of customers who opt out of its paid services. (Reading time: 2 minutes)

A break for college savers

The new FAFSA application form for financial aid no longer asks about contributions from grandparents – creating a huge opportunity. (Reading time: 3 minutes)

Leaving money on the table

Most boomers are claiming Social Security retirement benefits way too early. (Reading time: 6 minutes)

Stretching your spending in retirement

The median household income for Americans aged 65+ is more than $50,000 per year – but it’s possible to live well on less than half of that. (Reading time: 4 minutes)

Spending your nest egg

Withdrawing from your savings after you retire can be an unnerving process. Here’s how to do it with more confidence. (Reading time: 3 minutes)

How to retire with purpose

Having a reason to get up every morning can add years to your life – and life to your years. (Reading time: 3 minutes)

Words to the Wise

“I will tell you the secret of getting rich on Wall Street. You try to be greedy when others are fearful, and you try to be very fearful when others are greedy.”

– 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.

The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the U.S. stock market.

Investors should consider, before investing, whether the investor’s or the designated beneficiary’s home state offers any tax or other benefits that are only available for investment in such state’s 529 savings plan. Such benefits include financial aid, scholarship funds, and protection from creditors. There is also a risk that these plans may lose money or not perform well enough to cover education costs as anticipated. Most states offer their own 529 programs, which may provide advantages and benefits exclusively for their residents. The tax implications can vary significantly from state to state.

Unless certain criteria are met, Roth IRA owners must be 59 ½ or older and have held the IRA for five years before tax-free withdrawals are permitted. Additionally, each converted amount may be subject to its own five-year holding period. Converting a traditional IRA into a Roth IRA has tax implications. Investors should consult a tax advisor before deciding to do a conversion.

Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Investment advisory services are offered through Raymond James Financial Services Advisors, Inc. Brown Family Wealth Advisors is not a registered broker/dealer and is independent of Raymond James Financial Services.

These policies have exclusions and/or limitations. Guarantees are based on claims paying ability of the issuing company. Long Term Care Insurance or Asset Based Long Term Care Insurance Products may not be suitable for all investors. Surrender charges may apply for early withdrawals and, if made prior to age 59 ½ may be subject to a 10% federal tax penalty in addition to any gains being taxed as ordinary income. The cost and availability of Long Term Care insurance depend on factors such as age, health, and the type and amount of insurance purchased. Please consult with a licensed financial professional when considering your insurance options.

Dividends are not guaranteed and must be authorized by the company’s board of directors.